Anyone over the age of eighteen can easily purchase and use the Walmart MoneyCard. Because the MoneyCard is basically a credit card without a bank account required, there is no credit check necessary. You can only have a maximum of two cards per household. You may also decide how much you want for your family.
There are advantages to using the Walmart moneycard over a traditional checking account. The primary advantage is that there is no need to open a bank account or pay taxes with cash. The money deposited into your debit card can be withdrawn by simply showing your ID. It is impossible to run out of funds in a hurry. This gives you more freedom to do what you want.
The second advantage to using a Walmart money card is that you can make international purchases using it. There are no restrictions on this type of domestic transfer. There are some fees associated with electronic checks. Wal-Mart does not participate in any third-party check processing networks. If you choose to use a reloadable prepaid card associated with a bank, you still must have an electronic checking account.
There is a reload fee associated with most electronic check transactions made with the money card. The reload fee may be different from one company to another. Walmart does not participate in any fees associated with prepaid cards. If you choose to cash a check and use your debit card to make the payment, the amount of the check is deducted from your savings.
The third advantage to using the Walmart prepaid debit card is that you can earn free air travel. A participating airline will give you a bonus when you make purchases at their participating locations. A qualified employee will visit you at your place of business and present you with a gift card for a certain amount of airline miles.
The fourth advantage to using the Walmart MoneyCard is that there are no annual fees. The only service charge you will encounter is a one time $5.00 per month service fee. There is no additional monthly fee to maintain the account and you will not be assessed a late fee or charged for over-limit fees. A benefit of the no annual fee is that the no annual service charge is waived once you make your first purchase with your Walmart MoneyCard.
The fifth and final advantage to using your Walmart MoneyCard as an alternative to traditional checking accounts is convenience. With a traditional checking account, you have to go to the bank on a regular basis to make wire transfers, take checks, and purchase goods. You also must write a check in order to cash a check and go through the customary process of withdrawal. When you use your Walmart MoneyCard, all you need to do is access the bank online and tap in your personal information. You can then print out receipts or send the checks by mail. Convenience is the key here.
The Walmart prepaid MoneyCard has a variety of features that benefit its users. They are hassle free, safe from fraud and theft, and allow for electronic access to funds. This convenient service fee has earned the approval of the FDIC. You may also want to consider applying for direct deposit to receive government benefits from your paycheck. Direct deposit may be free with your Walmart MoneyCard, but it is still worth checking with your government benefits offices to make sure you are not missing out on any federal benefit payments while using your Walmart MoneyCard to withdraw money from your bank account.
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