Gas is unfortunately on the rise again. With the historic events in the Middle East unfolding, oil has again risen above $100 a barrel and gas prices are heading to $4 a gallon. Perhaps the easiest way to save money at the pump is with a gas rewards credit card. But what if you don’t want or can’t get a credit card? Well believe it or not the answer might be with the Walmart MoneyCard(SM) MasterCard® Prepaid Card.
Walmart’s efforts to enter the retail banking market have been met with significant resistance. So Walmart partnered with Green Dot to issue the Walmart MoneyCard(SM) MasterCard® Prepaid Card. While the MoneyCard is not a free prepaid credit card, it does offer very low costs (more about that in a minute). But the big feature is that through 12/31/2011, you can earn 1% cash back on all gas purchases nationwide. While you can earn more rewards with a credit card, the Walmart MoneyCard(SM) MasterCard® Prepaid Card is the only prepaid card I’ve found that offers any cash back on gas purchases.
Direct Deposit Bonus
The Walmart MoneyCard(SM) MasterCard® Prepaid Card offers free direct deposit of a paycheck or government benefits check. The direct deposit works just like a traditional bank. You will receive an account number (separate from the number on the card) and a bank routing number. With these numbers, you can set up direct deposit. And with direct deposit, you get faster access to your money and avoid check cashing fees. And Wal-mart will pay a $10 bonus after you enroll in recurring direct deposit and use direct deposit to put more than $250 on the card.
Add Money at Walmart
One of the nice features of the MoneyCard is that you can load cash onto the card at Walmart. You can load cash onto the card at the register. You can cash a payroll or government benefits check at Wal-mart and load some or all of the cash on the card for free. And you can load cash on the Walmart MoneyCard(SM) MasterCard® Prepaid Card at a Walmart MoneyCenter Express ATM.
When it comes to any kind of banking, it’s critical to understanding the fees you may be charged. For the Walmart MoneyCard(SM) MasterCard® Prepaid Card, the fees are simple:
- One-time Card Issuance Fee: $3
- Direct Deposit: Free
- Load Cash at Wal-Mart: $3
- PIN & Signature Transactions: Free
- Monthly Fee: $3
- ATM Withdrawal: $2
Walmart MoneyCard(SM) MasterCard® Prepaid Card Summary
- No issuance fee online
- No credit check or bank account required
- No overdraft fees
- No minimum balance required
- Free Direct Deposit
- Use everywhere MasterCard debit is accepted, including shop online, pay bills, get cash at ATMs
You can check out more details and get the card at the Walmart MoneyCard(SM) MasterCard® Prepaid Card.
Published or updated November 2, 2012.