It charges a fee of $ 3 to purchase this card and additional $ 3 is charged as maintenance fee. It is a reloadable prepaid card and not a credit card; therefore, it does not build up your credit score history.
Hence, when applying for this card, there are no credit background checks carried out. However, you are required to record your information with a financial institution that will obtain, verify and record your account and personal details as a bid to prevent money laundering and avoid funding terrorism activities.
The card can be obtained at a WalMart store or can be obtained through their online system application and takes around two weeks for you to get the card once you have successfully applied.
Checking your account balance and transactions can be done through numerous ways of which include; sending a text message, through the WalMart money mobile app and by having online user ID. These avenues ensure that you can check your accounts statement anytime you want. The card has got reload limits of which do not exceed $ 2,999.
This account can be used to operate other multiple accounts relying on the main account. A disadvantage associated with using the WalMart card is that in case your card is stolen or becomes lost, and you report the case; the company will charge you for transferring the remaining amount to your new account.
They don’t freely transfer your remaining amount. Money can be reloaded through direct deposit, check or using Walmart rapid reload.
View more information about the Walmart MoneyCard.