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The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
Reviews
Walmart MoneyCard prepaid card review: Who is it best for?
Madison Blancaflor is the managing editor for TPG's content operations team. She focuses on helping TPG's broader editorial team bring news, features and advice to readers. She has nearly six years of experience covering the credit cards and travel industries.
When Ryan worked as a TPG credit cards writer, he oversaw refreshes of card reviews and card offer stories. He enjoyed racking up cash back and helping readers maximize their points and miles for their next big trip.
also contributed to this story
February 14, 2025 • 8 min read
JAKUB PORZYCKI/NURPHOTO/GETTY IMAGES
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.
Editorial note: This is a recurring post, regularly updated with new information and offers.
Quick summary
The Walmart MoneyCard is a prepaid debit card offering limited cash-back rewards, primarily for Walmart purchases.
It features early access to paychecks or government benefits with qualifying direct deposit, and includes a savings account option with annual interest.
A monthly service fee applies unless qualifying direct deposits are made, and there are additional fees for certain transactions.
Rewards are capped annually and redemption options are restricted, making it less competitive than most cash-back credit cards.
What to consider
You can only earn up to $75 in rewards per year, and rewards are credited once annually.
Monthly service fees can be avoided with qualifying direct deposits, but other fees such as ATM withdrawals and foreign transactions may apply.
Redemption options are limited, and the card does not help build credit.
What you'll miss from the article
A detailed comparison of how this prepaid card stacks up against traditional debit and credit cards for Walmart shoppers.
Generated by AI with support from our editorial team.
Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
The Walmart MoneyCard is a prepaid debit card that earns cash-back rewards. Although it’s certainly not the right card for anyone looking to maximize rewards or build credit, it is an option for those who do not want a credit card but still want to earn cash back on purchases. Card Rating*: ⭐⭐½
*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
At TPG, we are big fans of credit cards. Building credit is important to your overall financial health, and the right credit cards paired with responsible spending habits can help you reach financial goals, take (mostly) free trips and more.
But while we recommend credit cards to those who can qualify and take advantage of the benefits they offer, they aren’t always the best choice.
If you want a way to earn cash-back rewards on Walmart purchases without needing a credit account, the Walmart MoneyCard may be an option. This card charges a monthly service fee of $5.94 unless you make qualifying direct deposits.
Let's explore the details of this card to help you decide if it's right for you.
The information for the Walmart MoneyCard has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Walmart MoneyCard pros and cons
Pros
Cons
Get your paycheck or government benefits in advance
Earn annual interest on your savings account
Monthly fees can be waived
Has an annual rewards cap
Extremely limited redemption options
Charges a foreign transaction fee
Has monthly service fees unless you set up qualifying direct deposit
Walmart MoneyCard welcome offer
This is a prepaid debit card, so unfortunately, you won’t earn a welcome bonus when you get the card.
THE POINTS GUY
Debit cards typically don't offer any kind of welcome bonus, instead focusing on benefits like early pay and cash-back rewards.
Walmart MoneyCard benefits
This prepaid debit card — which can be used anywhere Mastercard or Visa is accepted — provides function over flair, so you aren’t getting extensive benefits like you would with credit cards.
Still, there is one feature that could help those who need early access to their paychecks to pay bills, buy groceries or make ends meet.
With the Walmart MoneyCard, you can get your paycheck up to two days in advance, or your government benefits up to four days in advance. If you're eligible for this benefit, you can access it by setting up direct deposit with your card.
Then, Walmart will credit the amount to your card when they receive payment instructions from your employer or the benefits provider rather than on payday.
JOE RAEDLE/GETTY IMAGES
How early you can get your paycheck or benefits depends on when payment instructions are sent to Walmart, but it can be a nice perk for those who qualify and have employers or benefits providers who send instructions early.
Another perk is that you can open a 2% annual interest savings account for free with the card. Money put into this savings account isn’t available for immediate spending with your card, but you can move money in and out of your savings account as often as you like, subject to security limits.
Additionally, this card offers up to $200 in overdraft protection with opt-in and eligible direct deposit.
However, note that some fees are associated with using the card:
$1 to purchase the card
$5.94 monthly fee to hold the card*
$5.95 per cash reload**
$2.50 per ATM withdrawal (in addition to the ATM fee)***
50 cents for an ATM balance inquiry
$3 for card replacement
3% foreign transaction fee
*No monthly fee if you received a direct deposit totaling $500 or more in the previous monthly statement period. **This fee can be lower depending on how and where this card is used. It is free to reload your card using the Walmart MoneyCard app or you can pay $3 to reload your card at Walmart registers. ***You can withdraw money from your card at Walmart money centers and customer service desks for free.
Additionally, you can add up to four accounts (authorized users) for approved family members ages 13 and up.
While none of these fees are massive, they can add up quickly. You'll want to calculate how much you'll be charged in fees and ensure you'll earn enough rewards to justify paying them. If not, you'll be better off with a traditional debit or credit card.
The Walmart MoneyCard allows eligible cardholders to earn rewards on purchases. You’ll earn 3% cash back on qualifying purchases made at Walmart.com, 2% back at Walmart fuel stations and 1% on Walmart in-store purchases.
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This isn't a bad cash-back rewards structure for those who shop online at Walmart frequently. But there is a big downside — you can only earn up to $75 in total yearly rewards.
That massive cap means this card will get blown out of the water by pretty much any cash-back credit card on the market. But again, if you're vehemently against credit cards or working on your credit and are looking for rewards of some sort, this card could make sense.
Redeeming rewards with the Walmart MoneyCard
Like the earning structure, your redemption options with this card are not great. You’ll get your rewards credited to your account once per year at the end of your account year. Once it hits your account, you can use it like any deposit.
IVAN PANTIC/GETTY IMAGES
And again, you can only earn $75 in rewards each year. For those who truly spend a lot at Walmart, you'll likely end up spending money that won't earn any rewards.
Several cash-back credit cards easily outclass the Walmart MoneyCard when it comes to earning rewards.
If you want simple and flexible cash back: The (see rates and fees) charges no annual fee and offers flat-rate rewards across purchases (up to 2%; 1% when you buy, plus 1% as you pay). To learn more, read our full review of the Citi Double Cash.
If you want more rewards categories: The (see rates and fees) offers 5% back on travel booked through Chase Travel℠, 3% back on dining (including takeout and eligible delivery services) and at drugstores and 1.5% back on all other purchases. Plus, when paired with an eligible card, you can convert your cash-back rewards to transferable Ultimate Rewards points. To learn more, read our full review of the Chase Freedom Unlimited.
If you want rotating categories: The (see rates and fees) offers rotating 5% cash back categories each quarter you activate, on up to $1,500 each quarter. Past categories include PayPal, Amazon, select entertainment and gym memberships. To learn more, read our full review of the Chase Freedom Flex.
If you can qualify for a credit card, we highly recommend going that route. From a rewards-earning standpoint, this card is disappointing on every front — you can only earn rewards at Walmart, there is a very low rewards cap and you only receive rewards once per year. This is only a decent option for those who want to earn rewards on a prepaid debit card.
Bottom line
This card is not a good option for travelers, points-and-miles enthusiasts and those who don’t need the card’s specific benefits. But because of its savings account feature, rewards capability (which is rare on a prepaid card) and direct deposit feature for early payday and government assistance, it is a valuable option within its own category.
You'll want to look elsewhere if you fall into the first category. But if you're searching for a debit card to help you manage your finances, this could be a decent option.
