Walmart MoneyCard Adds High Yield Savings, Free Cash Deposits, Family Accounts

Walmart Inc WMT, alongside Green Dot Corporation GDOT, formally announced an update of features and benefits for the MoneyCard Reloadable Debit Card program.

The Walmart MoneyCard, issued by Green Dot Bank, will provide account holders a 2% annual yield on money saved in integrated savings accounts, as well as up to 4 additional MoneyCards for family members over 13 years of age, free cash deposits, and the ability to add money from existing bank accounts.

“Now more than ever, consumers are looking for ways to manage their money for less, while saving as much as they can. The new Walmart MoneyCard allows customers to do both,” said Mike Keeslar, General Manager of Consumer Products, Green Dot. “Whether you have a specific savings goal in mind, or just want to set aside cash 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.”

The development comes as the Walmart MoneyCard is already the number one retail-branded debit card in the United States. With mobile banking capabilities a priority, Walmart has honed in on money management and financial wellness.

To learn more about Walmart’s MoneyCard, please visit WalmartMoneyCard.com.

Photo by Noelle Otto from Pexels.