If you are an avid Walmart shopper, this prepaid card is perfect for you. The Walmart Money Card provides 1 percent cash back for all Walmart store purchases, 3 percent cash back for all Walmart.com purchases and 2 percent cash back at Walmart fuel stations.
As such, this card is one of the few prepaid cards out there that actually offers rewards like cash back bonuses. Cash reloads are also free if you reload at a Walmart store, using the Walmart App or through direct deposit. However, like all prepaid debit cards on this list, there are still cons.
Although you earn cash back for all your Walmart purchases, your reward is capped at $75 a year no matter how much you spend at Walmart after reaching this cap.
Additionally, the Walmart Money Card charges a monthly fee of $5 unless you reload at least $1,000 a month on your prepaid card.
This may be manageable for some, but unrealistic for those on a tight budget.
Finally, the greatest disadvantage to this prepaid debit card is that you will be charged a $2.50 ATM fee every time you wish to withdraw cash from your account.
This fee is unavoidable and can quickly add up if you need to make frequent cash withdrawals.
You will also be charged fifty cents every time you check your balance at an ATM, so be sure to always use the Walmart mobile app to check your balance before withdrawing cash from an ATM to avoid any additional fees.