Can the Walmart MoneyCard work as a bank checking account?

Can the Walmart MoneyCard work as a bank checking account?

A checking account comes in handy for bills and everyday expenses whereas a savings account is an ideal place to earn interest and hold cash for long-term and short-term goals.

But, this really isn’t the only choice for having to pay bills.

The Walmart MoneyCard can be ideal for handling money, yet you may wonder whether this card can be utilized the exact same as a bank checking account.

The answer that is short yes. But before you run out and obtain a Walmart MoneyCard, here’s what you should understand.

What’s the Walmart MoneyCard?

To place it plainly:

A Walmart MoneyCard is a reloadable prepaid credit card.

This will be distinctive from a bank debit card since it’s perhaps maybe not associated with a banking account.

Nevertheless, the Walmart MoneyCard is supported by a major bank — Green Dot Bank — therefore it offers numerous options that come with a bank checking account.

No overdrafts permitted

A huge advantage of a Walmart MoneyCard is the fact that you don’t need to worry about overdraft charges.

This will be because you’re just permitted to invest everything you load on the card. [Read more…]