For many, Walmart is a one-stop shop for groceries, clothes, and other household items — and in some cases, banking.While it isn’t a bank itself, the Walmart MoneyCenter offers a wide variety of financial services at your local Walmart store in partnership with Green Dot Bank, an FDIC-insured bank.So how does Walmart stack up against your local bank or credit union?Walmart offers a lot of the same banking products and services as most banks and credit unions. This includes:The Walmart One Debit Card offers 3% cash back at Walmart up to $50 a year. For a limited time, however, you can get 10% cash back, up to $20, on your first Walmart purchase with the One Debit card within a month of signing up.The account doesn’t charge any monthly fees or have minimum balance requirements. It also offers overdraft protection services.The Walmart MoneyCard is a debit card that allows you to earn rewards on Walmart purchases, up to $75 per year. Cardholders can earn 3% cash back at Walmart.com, 2% cash back at Walmart fuel stations, and 1% cash back at Walmart stores.This card also offers overdraft protection up to $200, early direct deposit, and free cash deposits at Walmart. There is a monthly fee of $5.94, but it is waived when you direct-deposit $500 or more in the previous monthly period.Walmart also offers reloadable debit cards provided by Green Dot Bank.The Green Dot Visa® Debit Card charges a monthly fee of $7.95, but it can be waived with monthly direct deposits of at least $500. The Green Dot Pay As You Go Visa® Debit Card does not come with monthly fees, but each transaction incurs a $1.50 fee.Both cards also offer overdraft protection up to $200, as well as early direct deposit.Walmart customers can perform a variety of banking tasks, including: Cash and print checks Pay bills Send money orders Load money onto a Walmart MoneyCard Cash payroll checks, government checks, tax checks, and cashier’s checks File taxes Use buy now, pay later (BNPL) services Read more: Where to cash a check if you don’t have a bank accountWalmart can offer competitive rewards tailored to its customers. Frequent shoppers can benefit from earning rewards on purchases they already planned to make.Walmart also offers a low-cost banking option for “unbanked” customers who shy away from traditional banks because of excessive fees or higher minimum deposit requirements. According to the most recent data from the FDIC, about 5.6 million households in the U.S. are unbanked.Read more: What does it mean to be ‘unbanked,’ and what are the costs?The drawback: As a retailer, Walmart doesn’t offer as many products and services compared to major financial institutions, such as credit cards, personal loans, mortgages, auto loans, credit score tools, and Zelle payments.Although Walmart does offer broader customer service hours, it also offers a uniquely different customer experience than visiting a brick-and-mortar branch, which may or may not be a perk depending on the
Ven. Gen 31st, 2025
