The Walmart MoneyCard is a debit card that requires no bank account or credit check and therefore avoids overdraft fees.

The Walmart MoneyCard is one of many prepaid debit card options that have come on the market over the last several years for those who are unable or unwilling to get traditional bank accounts. Available in either Visa or MasterCard versions, the card can be used at Walmart and any retailer that accepts Visa or MasterCard.

Loading the Walmart MoneyCard

Money can be added to Walmart MoneyCards via direct deposit, Walmart store reload, online transfer, or tax return deposit. Here are those methods in more detail:

1. Direct Deposit

Payroll checks or your government benefits can be loaded directly onto a MoneyCard through direct deposit. This service is free, and you can opt to deposit all or part of your check. Employers may notify the bank of direct deposits up to two days before the official “payday,” and Walmart will then transfer funds to the card early.

2. Walmart Rapid Reload

This option allows you to add money to your card at Walmart locations for a $3 fee. Cash deposits are free using the Walmart MoneyCard app at Walmart stores. For these deposits, you can deposit cash by touching the Deposit tab in the Walmart MoneyCard app and selecting “Deposit Cash using the Walmart MoneyCard App.”

3. Online Transfer

An online transfer typically takes one to three business days, and there is no reloading fee. However, your bank may charge fees on the electronic transfer.

4. Tax Refund

If you electronically file your income taxes, you can directly deposit your refund onto your Walmart MoneyCard, and no reloading fee applies. You send your card number and mobile phone number to Walmart, which then texts you the direct-deposit information that you enter into your tax forms. The standard Internal Revenue Service (IRS) processing time applies, although e-filing typically allows you to receive a refund more rapidly than filing by mail.

Benefits of the Walmart MoneyCard

The MoneyCard offers many of the benefits found on all Visa and MasterCard debit cards, including fraud protection. A free online bill-paying service is also included. You can send money orders, get paper checks, or set recurring monthly payments for bills such as for your auto insurance. These cards also allow you to send funds to friends or family anywhere in the U.S.

You can also earn cash-back rewards by shopping at Walmart.com and via the Walmart app (3% cash back), Walmart fuel stations (2%), and Walmart retail stores (1%). The limit for cash-back rewards is $75 a year.

Walmart MoneyCard Fees

The MoneyCard costs $1 and can be purchased at any Walmart store. The card has a $5.94 monthly service fee, which is waived if you had direct deposits totaling $500 or more in the previous month. ATM and teller cash withdrawals cost $2.50, while withdrawals at Walmart stores are free.

Meanwhile, cash reload costs $3 at Walmart stores and up to $5.95 for other reload locations. Other fees include a 3% foreign transaction fee and $0.50 for balance inquiries at ATMs. There’s also a $5.95 charge for a 12-pack of checks and a $3 fee for card replacement (or $15 for expedited delivery).

How to Get a Walmart MoneyCard

Getting a Walmart MoneyCard is easy. You can order one online through the Walmart MoneyCard website, and your card will arrive in two weeks. To avoid waiting for the mail, you can purchase a card directly at any Walmart store.

You must be age 18 or older and will have to deposit money to your card before you can start using it. Opening the account requires a valid Social Security number, and mobile or email verification and the mobile app are required to be able to access all account features.

The Bottom Line

The Walmart MoneyCard comes with a number of free services and other benefits, especially for frequent Walmart shoppers. It also offers a convenient number of ways to load money onto the card. However, other prepaid debit cards and mobile banking options offer lower fees, larger ATM networks, and more free services. The Walmart MoneyCard does offer earlier access to deposits than many traditional banks, but with much stricter limits and fees. Research your options before you make a final choice.