Does Walmart Money Card worth it?Home / Blogging /
Walmart MoneyCard is a credit card that allows shoppers to benefit from Walmart’s rewards system. It offers cash back on Walmart purchases and a 2% annual interest on savings (APY). Shoppers have the option to pick either Visa or MasterCard for their MoneyCard.
💳How does Money Card Work?
Walmart introduced its ‘3-2-1 Save’ cashback program on 1 April 2016. Using the program qualified cardholders in the US and Puerto Rico can earn rewards for the everyday purchases they make.
|Applicable Cashback Amount||Applicable Where|
|3% cashback (For all cardholders)||Online Purchases at Walmart.com|
|2% cashback (For all cardholders)||Purchasing Fuel at Walmart or Murphy USA gas stations|
|1% cashback (For all cardholders)||In store purchases at Walmart|
|1% cashback (not applicable to MoneyCard customers)||All purchases that are made using Walmart Credit Card or Walmart MasterCard.|
Shoppers can choose to use their cash back to spend immediately or save for the future. The only requirement to start using earned rewards is being used of the card for the last 12 months.
Walmart definitely doesn’t want new people to come in to exploit the rewards without deserving them. Also, this time period can be a metric followed by Walmart to see if a cardholder will stay committed to the program.
How to deposit funds to your MoneyCard?
You can deposit funds to your MoneyCard by using the MoneyCard app at Walmart stores nationwide. You need to click on the “Deposit tab” and choose “Deposit Cash using the Walmart MoneyCard App” option. Then you will follow other easy directions shown on your screen.
Green Dot issued Walmart MoneyCard is a prepaid debit card and has a quite simple fee structure. Using this card you can shop outside of Walmart and no fees applied for those purchases.
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Being said that, you should use your MoneyCard at Walmarts in order to avoid any fees. You can do it by withdrawing or depositing cash to your card at Walmart. Simply try to keep your account as active as you can.
You can get your MoneyCard paying $1 only at Walmart stores or for free online. You can earn up to $75 a year in rewards with the 3-2-1 Save program. Your earnings are added to your MoneyCard balance at the end of the Reward Year.
MoneyCard app is available for both IOS and Android to manage your account from your phone.
Synchrony Bank issues all Walmart credit cards. These cards are accepted only at Walmart, Walmart.com or Sam’s Clubs. Therefore, it’s nothing but a retail card tailored for Walmart customers. However, if you get the MasterCard one, it is valid anywhere MasterCard is accepted. Using this cashback program there is no cap that rules how much you can earn.
Don’t you have a Walmart credit card yet?
No problem. You can apply in store to earn a 10% statement credit on your first Walmart.com or in-store purchase, up to $25 in savings.
Walmart Credit Card & Walmart MasterCard cardholders are already signed up in the 3-2-1 save cashback program. Therefore if you have an existing card, you will continue earning the new rewards without doing anything extra. So you can easily continue to use your existing card to start collecting the new rewards. Through signing your Walmart MoneyCard with Cash-Back Rewards, you are already enrolled in the program.
How to load money on Walmart MoneyCard?
There are 3 ways you can use to load money onto your Walmart MoneyCard.
You can directly deposit your paycheck or government benefits on your Walmart MoneyCard. It’s free, and you can deposit all or part of your check.
Walmart Rapid Reload
You can add cash to your MoneyCard at any participating Walmart by swiping it at the register. Note that there will be a $3 charge for this service. Preferred cardholders are exempt from this fee. Walmart Rapid Reload is only available at select Green Dot participating retailers.
Check Cashing at Walmart
At Walmart, you can cash your payroll or government benefits check, and transfer the money on to your MoneyCard quickly. There are no charges applied to load your funds onto your MoneyCard. However, there may be check cashing fees applied for this process.
Walmart Money Center Express
Walmart Money Center Express centers can be found usually near the customer service. Using this method, you can add cash to your check balance, your account, purchase money orders and even phone cards. There will be fees depending on the type of your card, and your requested transaction.
Online Bank Transfer
Using the online bank transfer method you can make same-day transfers for $2.95 on all other than the basic MoneyCard. The standard transfer takes up to three business days, and no reloading fee applied for this. Being said, your bank may apply certain charges on your electronic transfer. Contact with your bank to get details for your individual case.
You can directly deposit your tax refunds to your Walmart MoneyCard when you file your taxes. You can expect standard IRS processing time for this transaction.
How to get paid early with ASAP Direct Deposit?
Now you have your Walmart MoneyCard with all the great money management benefits that come with it.
Nice move. So let’s make the most of it, because believe it or not, it gets even better when you set up ASAP Direct Deposit for your paycheck or government benefits check.
No paper checks, no check-cashing fees, and you can get your money early!
The only thing better than getting your paycheck is getting it sooner. With the Walmart MoneyCard, your paycheck could show up in your account up to 2 days before payday, and your government benefits money could be in your account up to 4 days before benefits day.
You can start today. Just get your routing and direct deposit account numbers by texting “DD” to 37267. You can also get it by downloading the app and logging in, or by logging into your account online.
You can find out other fast and easy ways to deposit money onto your Walmart MoneyCard at WalmartMoneyCard.com.
How can you order free accounts for your family members?
You can add free accounts for any family member 13 years or older. You and your family can enjoy the savings benefits and cash-back features of the Walmart MoneyCard.
Signing up your kids is super easy. It can all be done from the Walmart MoneyCard app. Once they have their card, you can load it with however much money you are comfortable with, directly from your MoneyCard account.
Since each family member can only spend what’s on their card, they never have to worry about going over budget on a shopping spree. You can sign up for alerts to see every transaction your teens make, allowing you to step in with financial advice, and teach them money management habits early.
With the savings feature on the app, saving money with the MoneyCard is a breeze.
Plus, you can all earn a 2% annual interest on money saved. This will help you to encourage your teens to watch their spending and make wise choices about saving up for that special purchase.
To transfer money to another family member’s account, you just log into the Walmart MoneyCard app, click the “Pay” tab, then click the “Send Money” tab, then enter your family member’s email address.
It’s that simple! And this helps put a stop to those last-minute money requests at school drop-off.
With Walmart MoneyCard in your pocket, helping your family just gets a whole lot easier.
Walmart MoneyCard – How to earn 2% interest on savings (APY)
Walmart MoneyCard can work pretty much like a high-yield savings account. Whether you have a specific savings goal in mind, or just want some cash set aside for a rainy day, Walmart has a free and easy solution for you.
The MoneyCard Savings Account allows you to store funds for an emergency or future purchases.
You can transfer funds in and out of the savings account right from the MoneyCard mobile app as often as you like, with none of the annoying additional fees that other banks charge you.
Plus it pays you 2% annual interest when you save your own money.
That’s easy enough, but it gets even better with prize savings.
By simply storing funds in your savings account, even as little as a dollar, you’ll be automatically entered into a drawing to win one of 1000 cash prizes. Anywhere from $25 to $1000 awarded each month.
Now, how many banks offer you that?
The more money you have stashed in your savings account, the more entries you’ll earn. Each dollar equals one entry, and you can earn up to 500 entries per entry period!
Let’s be real.
Who wouldn’t want some extra spending cash in their account? So keep your fingers crossed and your MoneyCard Savings Account full to earn a 2% annual interest on the money you save.
You never know when it might be your lucky day!
Benefits of Walmart Money Card
The Walmart MoneyCard app is free to download and makes it easy to handle your money at your fingertips! Start the app and you’ll be able to pay bills in just a few clicks from the comfort of your home, check deposit, order free accounts for your children and more.
Loading money is just beginning the process of using your Walmart MoneyCard.
The Walmart MoneyCard Basic gives you zero fraud liability through the Visa and MasterCard services. Online bill payment service is also included for free use. You can give free checks to the landlord, or you can make regular monthly payments for your car insurance. These cards also allow you to send money to friends or family anywhere in the US.
In addition to all other advantages, you can also use the online money vault to set aside funds for future use. You can think of it as a small saving account that you won’t ever be able to access before you transfer your money back to your MoneyCard.
What about Fees?
Every card has a service charge of $5 a month. Nevertheless, the annual fee is waived if you exceed the minimum monthly deposit amounts ($1,000 or more).
A fast reload incurs a $3 fee for each deposit but is free of charge for Preferred Cardholders.
A withdrawal of $2.50 shall be paid per ATM, which may be in addition to the additional fees paid by the ATM operator. There is also a 3% international transaction fee and a $0.50 balance inquiry charge for ATMs.
The Bottom Line
The Walmart MoneyCard offers a lot of perks, but quite a few fees. All cards do not require a credit check, have no overdraft fees, and do not require a bank account. You can pick either a Visa or MasterCard debit and use it anywhere Visa or MasterCard is accepted. Plus, there are a variety of ways to load money onto the card.