Retail giant Walmart wants to further add value to its customers by offering the prepaid Walmart MoneyCard Mastercard. You can actually get the MoneyCard in either Visa or MasterCard depending on your preference. There are also four designs to choose from – grey, black, blue or gold all displaying the Walmart logo and insignia. You can load money on the prepaid MoneyCard in a variety of ways including a visit to a Walmart store (cash or check) cashier or MoneyCenter Express machine, direct deposit of a pay or benefits check, online bank transfer or by purchasing a MoneyPak or Cash Reload card.
Review of the Walmart MoneyCard MasterCard Prepaid Card
Like most prepaid cards, you will not have to go through a credit check and overdraft fees are a thing of the past. Since the card is backed through the Mastercard and Visa networks, you can use it anywhere they are recognized worldwide. Cardholders also benefit from the Visa and MasterCard Zero Liability policies that offer fraud and theft protection. You can find the Walmart MoneyCard prepaid debit products at most Walmart outlets or sign up online and receive the card in the mail. The fee plan is simple and quite competitive in the market. Here are some of the great features and benefits of the :
- No issuance fee online
- No credit check or bank account required
- No overdraft fees
- No minimum balance required
- Free Direct Deposit
- $10 bonus with qualifying Direct Deposit (for a limited time only)
- Use everywhere MasterCard debit is accepted, including shop online, pay bills, get cash at ATMs
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How We Rated the Walmart Money Card MasterCard
Walmart Money Card MasterCard Fee Examples
Want to know how much the Walmart Money Card MasterCard might cost you to use in a typical month? We have crunched the numbers for you! We also show how Walmart Money Card MasterCardstacks up against some common alternatives so you can see if you would save money using this card. Please remember -- cost should NOT be the only reason why you pick a card -- make sure to consider the card's features (some cards have more features than a typical bank account).
To see different scenarios, change the following variables.
Note: * Based on a U.S. Average check cashing rate of 4.54% (per the Brookings Institution),
**Using the Money Order fees from the U.S. Post Office (Some of the lowest available),
*** We assume that 1/2 of your in-store purchases will be made using your PIN,
****A LARGE portion of Americans experience at least 1 overdraft each Month. Also note that the Check Casher CANNOT buy items online, and must use cash for all purchases.
Fees Associated With The Walmart Money Card MasterCard*
| Activation Fee: | $3.00 |
Card Limit: | $3000 |
| Monthly Fee: | $3.00 |
ATM Withdrawal:** | $2.00 |
| Signature Transactions:*** | $0.00 |
ATM Balance Inquiry: | $1.00 |
| PIN Transactions:*** | $0.00 |
Bill Payments: | $0.00 |
The Walmart MoneyCard Master Card is great for those who use the card frequently to purchase merchandise online or in stores, but don't have the need to get cash from ATM's frequently. If you want a simple, easy to load card with a low monthly fee and free purchase fees, then get this card! With a recurring direct deposit, the already low monthly maintenance fee can be eliminated entirely. There can be additional fees for certain non-typical transactions (like international ATM withdrawals, balance inquiries, replacement cards, teller cash transactions, etc). Always check the Terms and Conditions link on every prepaid card company's website.
Notes:
* Fees verified as of 07/13/2011. Check the Current Terms & Conditions for a list of all the fees.
** Some ATM operators may charge a fee for use of their ATMs in addition to this fee.
*** To use your Walmart Money Card MasterCard in a "signature" transaction, select "Credit" when checking out at a brick and mortar merchant. Most internet transactions are automatically processed as "signature" transactions.
Walmart Money Card MasterCard Card Options
For a $6.00 Temporary Card Issuance Fee (vs. only $3.00 for the Standard Card), a Student Edition Walmart MoneyCard Mastercard can be purchased with FREE Additional Student cards! Parents can transfer money from one card so students can use the other.
Here are GetDebit’s “Low Fee Tips” for this Card
You can avoid fees with the WalMart Money Card Prepaid MasterCard if you are careful in it's use.
Tips for Using The Walmart MoneyCard MasterCard Prepaid Card
