Green Dot Bank’s Walmart Moneycard Can Help Customers Save Money

Pasadena-based Green Dot Corp. and Walmart said the Walmart MoneyCard issued by Green Dot Bank is now offered as a demand deposit account (DDA) better equipped to help Walmart customers save money.

A Green Dot statement said new and existing Walmart MoneyCard account holders may now access Green Dot Bank’s more comprehensive digital banking platform similar to a traditional banking account, and can still manage their finances either digitally or at Walmart’s 4,500-plus locations and Green Dot’s more than 90,000 retail distribution locations.

“We are excited to work with Green Dot to provide a more convenient and innovative way for customers to manage their finances with the new Walmart MoneyCard, which offers cashback, overdraft protection, direct deposit, interest on savings and more,” said Julia Unger, vice president of Financial Services at Walmart. “We are committed to offering our customers valuable services to help them manage their financial needs.”

With their Walmart MoneyCard converted from pre-paid to DDA, current MoneyCard account holders, now numbering more than 1 million, and new customers can now access more Green Dot Bank digital banking and money management features. The new MoneyCard is designed to help customers more seamlessly access, manage and move their money – and ultimately improve their financial health – through a suite of innovative and useful tools that will evolve and expand over time, the statement said.

“As a financial technology company committed to seamlessly connecting people to their money, we’re always looking for opportunities to modernize products with helpful tools, great value and exceptional customer experiences,” said Brandon Thompson, EVP of Retail, Tax and PayCard at Green Dot.

Some of the enhanced features that cardholders receive from Green Dot Bank with the conversion to DDA include easier access to the waived monthly fee with a qualifying direct deposit of $500, half the amount required previously overdraft protection; and overdraft protection, where cardholders can now have up to $200 in overdraft protection for that extra help when they need it most.

New customers who activate a Walmart MoneyCard purchased either in-store or online will receive a $20 bonus with a qualifying direct deposit of $500 or more through August 15, Green Dot said.

The Walmart MoneyCard is available in stores or online at www.WalmartMoneyCard.com.