Walmart Money Card Is A Checking Or Savings Account?

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Updated Mobile App Brings Enhanced Digital Cyberbanking and Cash Management to MoneyCard Customers

BENTONVILLE, Ark. & PASADENA, Calif.--(BUSINESS WIRE)--May 26, 2020-- Walmart (NYSE:WMT), together with Green Dot (NYSE:GDOT), today announced updated features and benefits for the Walmart MoneyCard Reloadable Debit Menu plan. The Walmart MoneyCard, issued by Green Dot Bank, fellow member FDIC, will now provide accountholders with a 2% annual percentage yield on coin saved in the integrated savings account, up to iv boosted MoneyCards for family members 13 years of age and older, complimentary cash deposits and the ability to add together money to your card from an existing bank account.

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The Walmart MoneyCard, issued by Greenish Dot Bank, member FDIC (Photograph: Business Wire)

The Walmart MoneyCard, already the number one retailer-branded debit card available in the U.S., has made banking from your mobile phone even more attractive and easier than ever. With its like shooting fish in a barrel-to-utilise online and in-app money management tools, it allows users to make the most of their money.

Now, in addition to gaining Prize Savings sweepstakes entries for dollars saved in the savings business relationship, MoneyCard cardholders will earn 2% interest (APY) on savings¹. The new High Yield Savings Account is only some other example of how Walmart and Green Dot are supporting the financial wellness of our customers through fiscal services innovation.

"Now more than ever, consumers are looking for ways to manage their money for less, while saving as much every bit they can. The new Walmart MoneyCard allows customers to do both," said Mike Keeslar, General Manager of Consumer Products, Greenish Dot. "Whether you have a specific savings goal in mind, or just want to set aside greenbacks for an unexpected emergency, we have a free and easy savings solution, combined with other features Walmart customers depend on to more effectively manage their money."

Available at Walmart stores or online at WalmartMoneyCard.com, features and benefits of the updated Walmart MoneyCard include:

• ASAP Direct Deposit: Go your pay up to 2 days before payday or your regime benefits upwards to 4 days early with ASAP Direct Deposit.
• High Yield Savings: two% Interest on Savings within the Walmart savings business relationship included within the MoneyCard App. Y'all can easily move money into and out of your savings account at whatever time by simply tapping the Save or UnSave button.
• Free Cash Deposits: Cash deposits to your MoneyCard are at present free at any Walmart Coin Centre or Customer Service surface area when using the MoneyCard mobile app. The mobile app generates a unique barcode for the cashier to scan and funds are available within 10 minutes.
• Free Family Accounts: The primary cardholder can assign up to four additional MoneyCards to family members 13 years and older for free, giving busy families a digital alternative to cash to manage and share their money.
• Greenbacks Back Rewards: The 3-ii-one Save cash back plan provides all qualifying cardholders in the U.S. and Puerto Rico with 3% Greenbacks Back at Walmart.com, 2% Greenbacks Back at Walmart fuel stations, and 1% Cash Back at Walmart stores, up to $75 each year.
• Monthly Fee Waiver: Waive your monthly fee when yous deposit $1,000 or more to your business relationship each calendar month.
• Banking company Transfers: Employ the app to add coin to your Walmart MoneyCard from your existing depository financial institution account.
• Prize Savings: In addition to earning 2% involvement on savings and greenbacks dorsum rewards on spending, customers as well earn entries into the monthly Prize Savings sweepstakes. Once in the savings business relationship, each dollar earns an entry for one of 1,000 greenbacks prizes every month (i thousand prize of $1,000 and 999 $25 prizes).
• Free Cash Withdrawal: Become cash withdrawals from your menu for free at Walmart Money Centers and Customer Service desks.
• EMV Chip Security: Personalized Walmart MoneyCards now include EMV chips, providing boosted security to your account.
• Account Lock Security: Ability to Lock and Unlock your account through your mobile phone. When locked, your Walmart MoneyCard cannot exist used to spend or access greenbacks at ATMs.

Consumers can learn more near the Walmart MoneyCard by visiting WalmartMoneyCard.com. In addition to product data, customers have the pick to scout videos about key product features, besides as how to fix programs such as Straight Deposit and Family Accounts.

Consumers can open an account online at WalmartMoneyCard.com or go a starter debit card by visiting the Coin Centre in their neighborhood Walmart shop.

About Walmart

Walmart Inc. (NYSE: WMT) helps people around the earth salve coin and live better - anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, near 275 1000000 customers and members visit our more 11,300 stores under 58 banners in 27 countries and eCommerce websites. With fiscal year 2019 acquirement of $514.4 billion, Walmart employs over 2.2 one thousand thousand associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Boosted information most Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.

Nigh Green Dot

Green Dot Corporation, [NYSE:GDOT], is a financial engineering leader and bank holding company with a mission to power the banking manufacture'due south branchless future. Enabled by proprietary engineering and Greenish Dot'due south wholly-endemic commercial bank lease, Green Dot's "Banking as a Service" platform is used by a growing list of America's most prominent consumer and technology companies to blueprint and deploy their own bespoke banking solutions to their customers and partners, while Light-green Dot uses that aforementioned integrated engineering and banking platform to design and deploy its own leading collection of banking and financial services products direct to consumers through ane of the largest retail banking distribution platforms in America. Greenish Dot products are marketed under brand names such as Green Dot, GoBank, MoneyPak, AccountNow, RushCard and RapidPay, and can be acquired through more than than 100,000 retailers nationwide, thousands of corporate paycard partners, several "straight-2-consumer" branded websites, thousands of taxation return preparation offices and accounting firms, thousands of neighborhood check cashing locations and both of the leading app stores. Green Dot Corporation is headquartered in Pasadena, California, with additional facilities throughout the United states of america and in Shanghai, Mainland china.

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¹ Customers are eligible to earn ii% APY up to a $1,000 balance. Annual Pct Yield (APY) as of iii/27/twenty, may change any time.

View source version on businesswire.com: https://world wide web.businesswire.com/news/home/20200526005264/en/

Walmart
Walmart Media Relations
ane-800-331-0085, news.walmart.com/reporter

Greenish Dot
Media Relations
PR@greendot.com
Investor Relations
IR@greendot.com

Source: Green Dot

Source: https://ir.greendot.com/news-releases/news-release-details/walmart-moneycard-adds-2-high-yield-savings-account-free-cash/

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