Features and Benefits of a Walmart MoneyCard Savings Account

What is a savings account?

A savings account is a tool that lets people put money away, keep it safe, and take it out when they need it. It also gives you a way to “get paid” by keeping money you deposited in a savings account, this is called interest. Most banks and credit unions have savings accounts that are insured. This means that people can feel confident about putting their extra money in them.

Features of a savings account

Easy to open: Opening a savings account has become much simpler in recent years. You can easily open a savings account online or in person without requiring lengthy paperwork or complicated procedures.

Access to funds: Savings accounts offer easy access through transfers to other accounts within the same financial institution. This flexibility allows you to use your savings for emergencies, expenses, or investments.

Online and mobile banking: Online and mobile banking makes managing your savings account easy. You can check your balance, review transactions, and even move money using your smartphone. With this convenience, you can stay on top of your savings goals and make informed financial decisions from anywhere.

Benefits of the Walmart MoneyCard savings account

There are several benefits to using the Walmart MoneyCard savings account. Here are just a few:

No Monthly Fees: One great advantage of the WMMC savings account is that it is a free feature that comes with your checking account. As long as you set up eligible direct deposits¹ in your WMMC checking account, there are no monthly fees. This means you won't have to worry about regularly setting aside a part of your hard-earned money to cover maintenance fees, providing more flexibility and control over your savings. By dropping this added cost, you can maximize the growth potential of their savings without any unnecessary financial burden.

Earn Interest: If you deposit your money into a savings account, you will have the opportunity to earn an annual interest rate of 2.00%.² This interest rate will apply to the amount of money you deposit, specifically up to a sum of $1,000. By saving your money in this account, not only will you be able to safeguard your funds, but you will also have the potential to increase your balance through the buildup of interest over time.

Easy Access: By downloading and installing the user-friendly Walmart MoneyCard app on your smartphone or tablet, you will have the utmost convenience and flexibility at your fingertips, allowing you to effortlessly and quickly access your savings account. Alternatively, the highly accessible and intuitively designed Walmart MoneyCard website provides a seamless online platform through which you can effortlessly navigate and log into your account, making managing your savings as simple as a few clicks of a button.

Security: The Walmart MoneyCard savings account provides you with the peace of mind knowing that your hard-earned money is fully protected and secure. This is made possible because it is a bank account backed by the Federal Deposit Insurance Corporation (FDIC), a government agency that ensures the safety of deposits in banks.

The Walmart MoneyCard savings account is a convenient and secure way to save money. It offers a range of benefits such as the ability to earn interest and easy access to your funds. Whether you're looking for a simple way to start saving or a convenient alternative to traditional banking, the Walmart MoneyCard savings account could be the right choice for you.

¹Monthly fee waived when you direct deposit $500+ in the previous monthly period. Otherwise, $5.94 a month.

²Interest is paid annually on each enrollment anniversary based on the average daily balance of the prior 365 days, up to a maximum average daily balance of $1,000, if the account is in good standing and has a positive balance. 2.00% Annual Percentage Yield may change at any time before or after account is opened. Annual Percentage Yield is accurate as of 9/1/23.

Walmart MoneyCards are issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. And by Mastercard International Inc. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

Green Dot Bank also operates under the following registered trade names: GO2bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage. Green Dot is a registered trademark of Green Dot Corporation.

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