Walmart has entered the financial arena by offering its Walmart Moneycard MasterCard prepaid card. This is one of many available prepaid debit credit cards in the market today. This is just one of WalMart’s hundreds of products however. The company is adding more financial choices to its inventory all the time.
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You do not have to own a checking account to obtain this card. Nor is there credit checks associated with this card. To set up your card you simply have to go to Walmart with a check or cash to apply. You can apply a portion or all of the funds to your Walmart MoneyCard MasterCard with a single swipe.
The Walmart MoneyCard MasterCard is available in Visa or MasterCard options. They can be used anywhere these cards are acceptable. There are fees associated with these cards of which you should be aware though.
Walmart MoneyCard MasterCard Prepaid Card Benefits
The benefits of traveling with prepaid debit credit cards include the safety of not carrying cash. You can also request an additional card for other members of the family at no charge. Set up direct deposit and you will be entitled to a $10 bonus if transferred funds exceed $250.
You do not have to worry about overdrafting this account unlike regular credit cards. You are not limited to certain stores like dining credit cards or store cards. A bonus is the 1% you receive for your gas purchases.
Walmart MoneyCard MasterCard Prepaid Card Limitations
There are some limitations to using your Walmart MoneyCard MasterCard prepaid card. It is not like a reward credit card that offers points towards your purchases. There is also a $3 check-cashing fee that is waived when you reload onto your card using an eligible check.
There is also a reload fee when you add money to your card. The only way to avoid this fee is if you opt for the recurring automatic direct deposit. This does not work like secured credit cards in helping you rebuild your credit.
Walmart MoneyCard MasterCard Prepaid Card Review
This card is convenient for those who do not have a checking account. Walmart Moneycard MasterCard is supported by GE Bank. Most people that use the card is said to spend between $8 and $9 per month.
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