Walmart Money Card Review
Prepaid debit cards have skyrocketed in popularity, thanks to the economy and the fact that people hate paying fees for a checking account. But before you fill out a Walmart money card application, there are some important things you need to consider.
How does it work?
Basically it’s a reloadable card. Money can be added to the account a few different ways:
- By cash or check (at Walmart only)
- Walmart MoneyCenter Express (these are ATMs at Walmart stores)
- Green Dot MoneyPak (at Walmart or elsewhere)
- direct deposit
- online bank transfer
The card can be used for 3 different purposes:
Card purchases – This is NOT a credit card, but it can be used like one wherever Visa is accepted for payment.
Bill payments – The Walmart Money Card can be used to pay bills, like those for power, water, cable, etc. This can be done for a fee at a Walmart store.
Direct deposit – Employees without a bank account may be able to use the Walmart Money Card direct deposit feature to have their paychecks added to their card.
What are the fees?
There are a number of Walmart Money Card fees you need to be aware of. Here’s a breakdown:
Monthly Maintenance Fee – $3.00
Reload Personalized Card at Walmart (No Check Cashing) – $3.00
Reload Personalized Card at Green Dot Location (other than Walmart store) – Varies by Retailer
Additional Personalized Card Fee – $3 for standard, free for student edition
Rush Delivery of Personalized Card – $20.00
Replacement of Stolen or Lost Personalized Card – $3.00
Balance Inquiry using ATM – $1.00
Teller Cash Transaction – $2.00
Domestic ATM Cash Transaction – $2.00
International ATM Cash Transaction – $2.00
International Transaction Fee – 2%
Whew… that’s a lot of fees there! But in defense of Walmart, most prepaid debit cards/credit cards do charge similar fees. It’s free to add money to the Money Card through check cashing, however Walmart charges $3.00 to cash checks, so you are basically still paying money to load the card.
Verdict?
Pros:
- Easy to get, there is no credit check
- When compared to other reloadable cards, the Walmart Money Card fees are relatively reasonable.
Cons:
- In order to apply you still need to give your Social Security number and have your identity verified. This is due to the U.S. Patriot Law.
- Other than the basics, the card offers almost no benefits
- The only way to reload for free is to fill out the Walmart Money Card direct deposit form and arrange to have your paycheck electronically deposited on the account.
- Even though the fees are reasonable for a reloadable card, it’s still a horrible deal compared to the banks and credit unions that offer no fee credit cards, debit cards and checking accounts.
- As with all reloadable cards, it is totally useless for building credit. Accounts are not reported to the credit bureaus.
- At the rime of this review this card was not available in the following states: New York, New Jersey, Rhode Island, Connecticut
Conclusion?
If you can’t qualify for a normal credit card, then I would recommend going to a credit union and getting a free checking account with a debit card, instead of using a reloadable card that will cost you money to use.
But if you insist on a reloadable card…
If you want to apply for a prepaid credit card PLEASE make sure you review all the fees closely. It won’t be possible to get a free prepaid debit card (there are always at least some fees). But some are much worse than Walmart’s offer, while others are a bit better.
Does anyone one know what exactly the “teller cash transaction” mean?
There’s a 2.00 fee for it. I think it’s when you get cash back when you are at the register but am not completely positive. Also I couldn’t find any description on it. So if anyone one knows I’d appreciate it.
BEWARE! This this by far the worst pre-paid money card experience I have ever had. I purchased this card for my 17 yr old daughter that just started driving to give a chance to be responsible in money management.
Needless to say we followed all the directions and the card would be declined when she tried to use it, putting her in a vulnerable situation. So bottom line is she never got to use the card and with the fees it actually cost me more $$. All I wanted was a refund of the amount I originally purchased it for. FAIL! DO NOT WASTE YOUR TIME OR MONEY ON THIS CARD!
I have used this card for 2 months with no problems. After my income tax refund was direct deposited, I went into a WalMart store to withdraw some cash and was told that they no longer cashed out these cards. I could load it but I couldn’t withdraw anything. I had to go to a grocery store and purchase a money order to make the purchase I was trying to make.
Two days later they decided to freeze my account. I called the customer service number and waited for an hour and 15 minutes to get a representative on the phone. (The entire time I listened to a message telling me my call would be answered in approximately 20 minutes.)
Once I finally got a rep on the phone I was told that the recent activity on my card was ‘suspicious’ and that my account had been frozen. I now have to fax a copy of my license and a letter stating that I authorized the IRS to deposit my refund on the card. WHAT is the purpose of that???
NetSpend is a much better alternative folks. Once I submit the “required” documentation and have access to my money again I will withdraw EVERY DIME, shred my card and mail the pieces back to them. They won’t get another chance to mess with my money!!!!
I WAS LOVING MY CARDS BECAUSE OF THE CONVENIENCE OF BEING ABLE TO DEPOSIT DURING HOURS THAT A REGULAR BANK IS CLOSED AND I ALSO SHARED AN ACCOUNT WITH MY BOYFRIEND IN ANOTHER STATE WHICH MADE IT EASY FOR US TO DO A MONEY TRANSFER OR SHARE FUNDS WITHOUT THE HIGH COST OF MONEY GRAM AND WESTERN UNION. I GO TO MAKE A PURCHASE AND THESE FOLKS HAVE FROZE MY ACCOUNT. THE REASON THEY GAVE WAS I MAKE TOO MANY DEPOSITS AND I HAVE TWO WEEKS TO REMOVE ALL FUNDS OR THEY WILL CLOSE IT AND SEND ME A CHECK IN THE MAIL.
IF THIS IS SUPPOSE TO BE A BETTER ALTERNATIVE THAN BANKING I’M CONFUSED BECAUSE NO BANK HAS EVER TOLD ME I DEPOSITED TOO MUCH MONEY. SO I JUST WENT BACK TO A REAL BANK.
All you people are idiots. How do you lose cards? Need refunds for everything. I’m sure 75 percent of you are trying to cheat the system by taking money out yourself then calling to have it replaced. The other 25 percent of you just have horrible grammar and also have no common sense. If you gotta use this card, I’m guessing all of ya’ll cannot be approved for cards cause I’m sure you have ginormous balances with your other banks.
This card is great. Direct deposit setup, never been declined, it works awesome. Best part? No overdraft fees. I went over .77 the other day, guess what my overdraft fees were, ZILCH!
And to the guy who set up direct deposit before getting your card, you are beyond ignorant.
I also am FED up with walmart & their $3 to load & when bill time comes up,they have snuck an extra $3 for monthly fee!!Well, I hope they have to pay millions in lawsuits-make that billions for sucking life out of the little people!Sam Walton is rolling in his grave! His family has screwed many out of money! Don’t buy their insurance either-NOT worth it on electronics or games.-another gimmick!U SUCK Walmart!!
Do I need to show identification when purchasing the card from a walmart store? I can activate it online right?
I dont trust banks so I like this card.
I have had the card for about three years. I use to have a regular checking account and was bad about writing it down. Which cost me a lot of fees. With the Money card from Walmart no $ and card is declined. When I direct deposit 1000 or more a month no service fee and when I use it for gas I get cash back. The only draw back is when I use the ATM there is fees.
NEVER NEVER GET THIS CARD, IT IS EASY BUT GOD FORBID YOU EVER MAKE A DOUBLE PAYMENT AND/OR REQUEST A REFUND USING YOUR MONEY CARD! IT WILL LITERALLY TAKE 3 WEEKS. I MADE AN EXTRA PAYMENT ONCE AND THE REFUND PROCESS WENT SUCCESSFUL ION THE OTHER COMPANIES END ONLY NOT ONLY WALMARTS END THEY WOULD NOT RELEASE FUNDS FOR DAYS, DAYS AND DAYS! INQUIRING ABOUT THIS WITH THE WALMART REP WAS NOT ONLY UNWILLING TO HELP BUT DOWN RIGHT CARELESS AND RUDE. SHE SEEMED LAZY AND REAL QUICK TO PASS ME TO ANOTHER PERSON TO GET MY ISSUE RESOLVED. I WOULD NOT RECOMMEND THIS CARD FOR ANYONE BASED ON THE LACK OF CUSTOMER SERVICE AND THE DESIRE TO ASSIST IN YOUR NEEDS
Complete waste of time. You forgot to add in that the card can’t be used for purchases outside of the United States… not even in Canada.
My sister was attempting to buy hair extensions from a company based out of Canada called Luxy Hair, however, she did not have a bank account and decided to buy a money card instead. Little did she know, Walmart money cards cannot be used outside of the U.S. No big deal, we’ll just get her money back, right? Wrong. Called GreenDot to get her money back…. 30 Mins and an argument later and they go from “We’ll send you a check in 7-10 business days” to “We can Fed-Ex it to you for a $20 charge” to finally (after I got pissed) “We’ll FedEx it to you in 3-5 Business days free of charge”
Flash forward to a week later. My sister calls customer service (the check has still not arrived). They tell her “Oh, it looks like that check was sent out yesterday” WTF. Seriously? TERRIBLE CUSTOMER SERVICE! Do not waste your time!
Actually, yes you can. I’ve recently purchased goods from Hong Kong and Russia, amongst other, places obviously not in the U.S.
Now you’re just being a liar.
Walmart cards are a great way to get the taste of the highlife….after you have been caught in a scandal and your accounts are frozen. Myself and my elderly mother share an account and have been for a while now. Along with annual and monthly fees we also have had to replace the card 28 times in 2 years. Not because they are stolen but because they have been DE-magnetized and wont work anywhere. And on top of that when we called to have the card replaced the service was sub par! Rude barely audible and completely pointless.
Verdict: Don’t get this card if you have bills rent or anything else to pay.
Wow…. So anything positive???
The Walmart money card is a waste of time, I agree with everybody on this site.
My boyfriend and I share this account, we both get all of our money direct deposited, paycheck, child support payments, everything, all of our life was in this account,. As I was checking the balance one day which I often did a daily check…… Every cent was withdrawn out of our account, over 2,000. Come to find out somebody had gotten all of our information and went on some website called NETEGG.com and bought a bunch of computers with our money.
I had to call Walmart and report the situation so they could put a hold on the money, cancel it out considering the transactions were still in the pending status, they refused said they could not do anything about it the other company had to, but they did inform us that we would have the money back on the card in 3 business days, because this was fraud they were going to expedite this, 3 days later nothing, we had to call back we spoke to 3 different people who did not know what they were talking about, almost as if we never called in the first place and reported the activity on our card….
It’s now 7 days later and still have not received anything. DO NOT EVER USE THIS CARD!!!! DO NOT WASTE YOUR TIME!!!
This is the worst card ever. Customer service are so rude I’ve never freaked out on anyone until I received this card. Every time I try to access the website my passcode doesn’t work. This Card SUCKS!
how do i activate my money card without my ssn?
IT SUCKS!!! I’ve had Walmart Money card for about a year.. On October 28th I ordered a New card ( Lost the old one) I was told I would Receive it between 7-10 days.. today is November 21st, and I have NO card. Ready for the best part, Stupid me decided I would sign up for Direct Deposit ( to avoid the 3 dollars to load it).. I got 300 bucks in the card.. Floating around, after MANY calls I get the same answer.. There is NO way for me to TOUCH MY MONEY UNTIL I GET MY CARD!.. DON’T GET WALMART MONEY CARD THEY WILL SCREW YOU OVER!
My card was stolen in October. Between te time I realized it and called to cancel there had been a transaction for $500. I disputed this and ordered a new card. For some strange reason anothert transaction occurred from the same merchant for $2.75 so again I disputed that. I finally got my provisional credit on November 15. The same day they took the money back out.
I was told they spoke to the merchant and found the transaction I disputed was valid. I can’t believe it and demanded proof. They couldn’t and wouldn’t show me due to all they have is a phone conversation with the merchant. Now to top it off they are closing my account because of this and today when I called in to discuss this further they also said because they found it suspicious of reloading my card too often. Are you kidding me now there is a rule on how many times you can reload it? Its money in their pocket since they charge a $3.00 fee each time. Oh, and just to let you know today is Nov. 16 and the last time I loaded it was on Oct. 31 Does that sound like too often? What a joke! So kiss your money goodbye if you ever have to dispute a transaction.
i agree!!
the money card sucks. my card is not working. You have to pay $3.00 to reload money some ways on top of the sorry $3.00 monthly service fee. I AM GOING TO CLOSE MINE….DO NOT OPEN ONE.
Someone opened an account under my name. They had a lot of my old info. I reported to various agencies, to block any further attempts at identity theft including police report. The kicker–when I tried to call walmart to get this card canceled (the one that I did not apply for) the only way to cancel the card was to activate it. Once activated, the only way to cancel my card was to PAY Walmart a $3 fee. So, not only do I have to fight the criminals trying to take my identity, I also have to PAY Walmart a fee for reversing the process. Their only response was “think of it as a X-mas gift to the person doing this to you.” Way to go Walmart, for setting up a useless service that generates you money whether its legitimate or not. Kick the victims while they are down. F U.
The walmart card is just a waste of time unless you want to throw away your money. purchased and been using the card for about two months now as a way to pay my one utility bill since they only take mastercard. For the 2 months everything was ok. Then on my daughter’s birthday I loaded my card with plans to make some small purchases. After using the card numerous times that night with out my knowledge they put a block on my card. So the next day as I went to make a purchase my card was declined. When I got back home I called and talked to customer service to resolve the problem they were very rude and even laughed at the situation in my face. Then had the nerve to tell me that my own account is under investigation for Identity theft because some one called them and said they were me. Now how am I gonna steal my own identity. So in my advice just stay away to much problems.
I am a business journalist working on a story about the Walmart Moneycard. I would love to visit with you about your ordeal. I can be contacted via email at
kscs0219@yahoo.com
Thanks,
KSCS
“I wasn’t aproved after waiting 30 minutes and gave all the information about myself; DOB, SSN, Address and the card to an automated service, then wait…. wait…. wait…. to be told that the “Patriot Act” didn’t aprove. I know the rep made a mistake at some point, because I was buying this card for my son, I’ve lived in this country for 20 years, have two bank accounts, spend my money here, pay taxes, but I can’t have a MoneyCard for my son? What is this ??? Now I HAVE TO WAIT FOR MY MONEY back, two weeks, and forget about the 3.00 fee, that’s lost. GO TO the guts of the burning Center of the Earth, WALMART. why don’t you make this statement when we buy the card? If you say you may not get approved, well? I don’t buy. bye.”
thats so TRUE WHAT A WASTE OF PLASTIC, SAVE GREEN LIVE BETTER BUT NOT SAVE MONEY