How To Load Your Walmart MoneyCard

Walmart partnered with Green Dot and GE Money to launch the Walmart MoneyCard in 2006. Since then, the card has become overwhelmingly popular. Walmart now leads Bank of America to take the lion’s share of the market in the checking account space in the United States, and it’s all thanks to the MoneyCard. 

This card is a perfect option for the underbanked community because all you need to do is buy one, load it with money and start using it like a normal debit card attached to a traditional checking account

How Do Walmart MoneyCards Work?

The Walmart MoneyCard is a reloadable spending card that comes with perks you don’t see from most prepaid debit cards. You can earn 3% cash back on purchases, 2% cash back on purchases at Walmart Gas Stations and 1% cash back on purchases in Walmart stores, up to $75 per year, when you use the card.

The card is popular among the under-banked community because it acts like a traditional checking account. You can use the card for purchases at the point of sale or online, and it comes with an account and routing number like a traditional checking account. That means you can use it to receive direct deposits and avoid check cashing fees.  

Earn Perks With A New Checking Account

Walmart is also running a promotion that gives you a chance to win free groceries for a year when you get $500 or more in direct deposits.

How To Load Your Walmart MoneyCard

You have three options to choose from to load your Walmart MoneyCard:

  1. Load your card at any Walmart location: Take your Walmart MoneyCard to a checkout counter at any Walmart location and let the associate know how much money you plan to load on the card. You can load anywhere from $20 to $1,000 each time. Next, give the associate the money you’d like to load plus a $3 service fee and the associate will handle the rest for you. In-person deposits should reflect on your account within 10 minutes. 
  2. Direct deposit: Fill out a direct deposit form with your employer. Be sure to accurately copy your routing and account number that came with your Walmart MoneyCard. Your employer will begin processing your payments via direct deposit, rather than handing you a paper check. 
  3. Deposit checks: If you receive a check from your employer or the government, you can take the check to the Walmart MoneyCenter. Cash the check, pay any MoneyCenter fees and ask your representative to load the money on your Walmart MoneyCard. Walmart will not charge you the $3 load fee when you cash a check in the MoneyCenter and use that money to load your card.   

Fees To Consider When You Use the Walmart MoneyCard

Most banking accounts come with fees, whether traditional or new age. The Walmart MoneyCard is no different. So, before you sign up for one, you must understand the fees you’ll pay when you use it. For example, you may be wondering “How much does it cost to buy a Walmart MoneyCard?” “Can I withdraw money from my Walmart MoneyCard for free?” Those fees include:

  • Purchasing the card: It costs $1 to purchase the Walmart MoneyCard. 
  • Monthly fee: Walmart charges a monthly account maintenance fee of $5.94 on all Walmart MoneyCard accounts. 
  • Load fees: You’ll pay $3 to load your card at Walmart locations, but you can avoid that fee by using the Walmart App. Moreover, some stores other than Walmart may be able to load your card. If you use a third-party vendor, you’ll pay up to $5.95. 
  • ATM and teller cash withdrawals: You’ll pay $2.50 to get cash. You can avoid this fee by getting cash back at Walmart locations. 
  • Overdraft fee: You’ll pay a $15 fee if you overdraft your account. 
  • ATM balance inquiry: Walmart charges 50 cents to tell you what your balance is at an ATM
  • Foreign transaction fee: Walmart charges a 3% fee for all transactions with merchants outside of the U.S. 
  • Paper checks: You can request a pack of 12 paper checks for $5.95. 
  • Card replacement: It costs $3 to replace a lost or stolen Walmart MoneyCard. You can pay $15 if you’d like expedited delivery. 
Earn Perks With A New Checking Account

Final Take

Is the Walmart MoneyCard like a bank account? The Walmart MoneyCard is a compelling alternative to traditional bank accounts. You can use a MoneyCard to get your paycheck faster with direct deposit and make purchases in person and online, earning cash back in the process. Consider opening a Walmart MoneyCard account today.

Information is accurate as of Nov. 23, 2022. 

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Earn Perks With A New Checking Account

About the Author

Joshua Rodriguez is a personal finance and investing writer with more than 10 years of experience. He is the founder of CNA Finance. His work has been featured on U.S. News & World Report, Money Talks News and several other mainstream outlets. 
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