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Walmart Moneycard

Walmart Money Card - Review

By Jacobey Larstons on May 17, 2012

The Walmart money card is a reloadable prepaid debit card. It is issued by GE Capital Retail Bank a member of the FDIC. This card is issued as both a Visa and a MasterCard, it is available at all Walmart retail locations and online.

This is a prepaid card which means you must first load money on your card before you can use it for purchases. You can loan money at a Walmart retail location, you can also deposit cash in a retail location. Additionally you can use strict deposit for free which will help individuals avoid paying expensive check-cashing fees.

The Walmart money card is accepted for purchases online and over the phone. You can use this card to: rent a car, buy gasoline at the pump, reserve airfare, and book hotel accommodations. Additionally you are covered under a $0 liability policy which will ensure that if your card is used fraudulently or it is stolen your money is still safe.

There is no credit check, however you do need to comply with the US Patriot Act. This simply means that you have a verifiable Social Security number, residence, and identity. You can still be approved even if you are listed in ChexSystems and many individuals find these prepaid cards to be good alternatives to a checking account.

You will never get charged an overdraft fee with the prepaid Walmart money card. You can sign up for text and e-mail alerts about your account activity and you get 24 hour a day, 7 days a week customer service and online account access.

Many consumers find this prepaid card to be a better fit than an unsecured credit card because there is no risk of running up debt. Instead you can only spend the money that you have deposited in your account and further you never have to pay any interest fees.

In today's technology driven economy if you don't have a major Visa or MasterCard you cannot live like a normal citizen. You are unable to pay bills or make purchases over the phone or online, you can't rent a car or rent travel accommodations, you aren't even able to fill up your gas tank without first going inside the gas station and paying cash.

The Walmart money card was created to give every consumer the purchasing power of a major Visa or MasterCard in their pocket. You can either visit a retail location and purchase a card for $3.00 or you can go online and fill out an application and have a card mailed to you within 7 to 10 business days.

If you apply online for the prepaid Walmart debit card instead of getting a card in the store you can avoid paying the $3 issuance fee. Before you apply the should be aware that there is a $3 monthly maintenance fee and a $3 reload fee. This means that you will be charged $3 a month and $3 every time you load money onto your card unless you use direct deposit which carries no charge.

It is important to fully research this prepaid debit card before you apply as frequently card issuers charge the terms and conditions of the card. In other words make sure you read the terms and conditions for this card before applying and for any financial instrument before signing the dotted line.

Original article published on SooperArticles.com

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