Walmart MoneyCards are reloadable prepaid Visa debit cards that can be used anywhere Visa is accepted. This means that customers can use them to purchase groceries or gas, pay bills, or even get cash at some ATMs.
Walmart MoneyCard Fees & Check Cashing Service Info
Two of the best selling points of the Walmart MoneyCard are that there are never any overdraft fees and no bank account is required to own one. Also, there are several ways to load the Visa debit card with additional funds in person and electronically.
In this article, learn how Walmart MoneyCards work and find links to articles about Walmart’s check cashing service.
Purchasing and Activating MoneyCards – More Info on Walmartmoneycard.com
The process of purchasing, loading, and activating a prepaid Visa from Walmart is fairly simple. This is how the process works:
- A customer must first purchase a temporary Walmart MoneyCard in store (cost: $3).
- Next, cash must be loaded onto the temporary debit card. A customer can bring in funds or ask the store to load the Visa debit card with funds from a government or payroll check cashed at the MoneyCenter (the $3 purchase price is waived if using check proceeds to fund the balance).
- The customer must activate the MoneyCard online or by phone (1-877-965-7848 or walmartmoneycard.com).
- The company will mail the customer a personalized MoneyCard within 7-10 days.
Note: It costs $3 to reload a Walmart prepaid Visa with cash, but the fee is waived if the customer loads it with funds from a government or payroll check cashed at Walmart. According to walmartmoneycard.com, the check cashing option is not available in Connecticut, New Jersey, New York, and Rhode Island. Also, the minimum reload is $20, and the maximum amount that can be loaded at one time is $1,500.
How to Add Money to a Reloadable Prepaid Visa Debit Card – Cash, Check, MoneyPak, etc.
There are six ways to add funds to a prepaid Walmart Visa debit card:
- With cash in person – This can be done at a cash register.
- By check in person – Instead of cashing a payroll or government check, ask the MoneyCenter personnel to load the balance onto your MoneyCard. Choose to load all of it or receive part of the check back in cash.
- By purchasing a MoneyPak – Pay for a MoneyPak (look for them in the prepaid card section) at Walmart or another Green Dot location, then “transfer” the money to your MoneyCard online or by phone.
- With an online bank transfer – This is a convenient, secure way to load a MoneyCard electronically.
- Via direct deposit – Choose to have all or part of a paycheck deposited directly onto the card.
- At a Walmart MoneyCenter Express – A MoneyCenter Express is basically a Walmart ATM, typically located next to customer service at the front of the Walmart store.
With options 2, 4, and 5, there are no reload fees. It costs $3 to reload a card with cash or at a MoneyCenter Express.
Walmart Visa Card Balance – Get a 1% Cash Back Incentive for Gas Purchases in 2010
In addition to the $3 purchase price, some reload methods cost $3 per transaction, and there is a $3 monthly fee attached to the MoneyCard (unless the customer loads over $1,000 per month). The pricing is very straightforward, and savvy consumers should be able to avoid reload fees by making transactions electronically or in conjunction with Walmart check cashing.
Through December 31, 2010, Walmart is offering 1% cash back on gasoline purchases to customers who use its prepaid debit card to pay. The cash back incentive will appear in the form of additional funds on the MoneyCard. Customers can learn more about this program on walmartmoneycard.com.
Related articles:
Walmart MoneyCenter Hours of Operation and Locations
Resources:
Walmart MoneyCard First to Offer Cash Bank on Prepaid Debit Card: Cash Back on Gas Purchases Nationwide. Retrieved from walmartstores.com on August 13, 2010.
Walmart MoneyCard website, walmartmoneycard.com
Lena Gott - Lena Gott is a Certified Public Accountant who gives practical financial advice to her readers.
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