What is Walmart money center? how to use it _ 2023 ultimate guide

Wondering what this Walmart money center everyone has been talking about is? This article will tell you everything you need to know about the money center and how to use it for your Dropshipping business and other transactions as well.

The Money Center provides various banking services like a bank, including checking accounts, money transfers, and check cashing. It offers a convenient way to handle basic banking tasks while shopping and serves as an alternative
for those who can’t open traditional bank accounts due to issues with ChexSystems.

Having said that, you should also know that there are some limitations to consider compared to regular banks.

What does Walmart Money Center offer?

Similar to regular banks, Walmart MoneyCenter offers products and services for everyday banking transactions. It doesn’t hold funds itself but partners with other institutions to provide various banking services.

One product available through MoneyCenter is Green Dot’s GO2bank, a mobile checking account. It comes with a $5 monthly fee, but this fee is waived with direct deposit. GO2bank is FDIC-insured for account protection and includes features like a debit card, access to ATMs, and online bill payment.

MoneyCenter also provides rewards debit cards. One such card is the Walmart MoneyCard (issued by Green Dot Bank), offering 3 percent cash back for online Walmart purchases and 1 percent cash back in Walmart stores, up to $75 a year. It has a $5.94 monthly fee, which is waived with a $500 monthly direct deposit.

Another debit card option is the Bluebird account card, primarily for receiving direct deposits and money transfers within the United States, with a daily limit of $2,500.

Walmart MoneyCenters are usually open from 8 a.m. to 8 p.m. on weekdays and from 10 a.m. to 6 p.m. on Sundays. However, store hours may vary depending on the store.

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Walmart MoneyCenter services

Here are the services offered by Walmart money center

1. GO2bank account: Green Dot’s mobile checking account with FDIC insurance

2. Walmart MoneyCard: Rewards debit card from Green Dot Bank

3. Bluebird account: Debit card for direct deposits and money transfers

4. Capital One Walmart Rewards card: Credit card by Capital One offering 5 percent cash back on Walmart.com

5. Netspend Visa: Prepaid, reloadable debit card with no monthly fees

6. Coinstar: Kiosk for converting coins to cash, gift cards, or charity donations

7. Walmart2Walmart money transfers: Domestic money transfer service via Ria

8. Check cashing: Cash personal checks up to $200, and other checks up to $5,000

9. Check to print: Order customizable checks online or in-store

10. Tax preparation services: Tax filing assistance offered by Jackson Hewitt

11. Bill pay: In-store bill payment for over 20,000 billers

Is Walmart MoneyCenter safe?

The GO2bank account and Walmart MoneyCard have FDIC insurance. The Bluebird account has FDIC pass-through insurance, except for temporary cards.

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However, there have been recent safety concerns regarding money transfers through Walmart MoneyCenter. The FTC filed a lawsuit against Walmart in June 2022, alleging that Walmart failed to prevent customer fraud, resulting in millions lost to scams. The lawsuit highlights issues such as the lack of a written anti-fraud policy before 2014 and ongoing policy violations, which may raise concerns for users of Walmart’s money transfer services.

Alternatives to Walmart MoneyCenter

If you can’t open a traditional bank account, there are alternatives like second-chance checking accounts designed for individuals with negative banking histories. These accounts may have higher fees but provide access to features like large ATM networks and FDIC insurance.

For money transfers, consider peer-to-peer (P2P) payment services like Zelle or Venmo, or international options like Wise. You can also explore wire transfers, although they often come with higher fees.

Conclusions

In summary, Walmart MoneyCenter offers banking services but has some limitations compared to regular banks. If you have been denied a regular checking account, there are alternative banking options available to help you build a positive banking history.

Good thing is, you can connect it to your dropshipping store and use it to accept payment. It works on 99% of e-commerce websites.

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Frequently Asked Questions ( FAQ)