Introduction
THIS IS A GREEN DOT PRODUCT and you will eventually be banned!!!
Let’s get that out of the way. This may well be the very last “free” reloadable debit card out there, well besides the unicorns. The card is nearly extinct because it was phased out last year, so good luck finding one. It gained some popularity through the grapevine after everyone’s Serves got axed. I actually got this card from a nice reader about a year ago. I used it for 3-4 months and kinda got tired of it. The only reason I was using it was because some Walmart cashiers will only let me buy $2,000 of money orders in one visit, and so I’d squeeze out another $1K using this card. I then did a bill pay to my AMEX card out for some “free” MS.
Getting the card
You can read more about the card here. You want the BLACK PREFERRED card that waives monthly fees with loads. Buy the temp card at a local Walmart for $3.95 fee and put $20 minimum on it. You can fund the fund up to $500 on initial purchase, but I’d reco just putting $20 on it. You can then activate online to get the permanent card (7-10 days to receive).
Loading money
The rules are max load of $3,000 every rolling 30 days. You can even load at Kate (pick moneycard option above Serve.) You need to load at least $500 per month to have monthly fee waived fee.
Unloading
Bill pay out with a $1,500 max per payment.
Monthly Fees
There is a $3 monthly fee and they will charge you even with a $0 balance. I skipped one month and then loaded $500 once and when I got home, I noticed my balance was only $497. As I’m typing this, my balance is a $-6 and I just went ahead and closed this account.
Shutdown prone
From what I’ve read, you’ll most likely be shut down after ~6 months or so if you keep loading $3K and BP’ing it out. I guess mine wasn’t shut down since I paid them a few monthly fees. Note that $1K money order is only ~$70 at WMT, so you’re only saving $2.10 a month by having this card. Not worth it to even pay them the $3.
Is it worth it?
If you only do low volume or avoid MO’s, then sure, try to find the card. It may be hidden behind a rack in some small town Walmart who forgot to pull it off the shelves. Plus who cares if Green Dot bans you anyway.
i know this is an old story, but i just found your site. I have a WMMC for over a year now – there are 2 benefits to it, but some drawbacks. I got shut down once, then opened my second in my SO’s name, and i’ve maintained it since.
1) You load $1000 a month to keep it free. I think the monthly fee is $9 if you don’t (but they will waive the fee if your balance is $0). But it’s $3 to load the card, so you gotta have $1003.00 at least once. If you do individual $500 loads it just adds to the fees, so splitting tenders is a must. Of course, 3 max swipes to load, so 2 $500 VGCs and a $3 debit, or pay the $3 in cash. Since you can’t split-tenders, it’s a bad way to go for MCGC’s (where you have to Change Payment Type). But it’s a neat card to have if you get stuck with a bunch of Metabanks.
2) you can load up to $2000 (?) in a day, and $3000 per 30 days. You can billpay out for free, and purchases made with the card are fee-free, but ATMs are $2.50 (plus the bank’s fee if it’s not a Moneypass). And you’re limited to $400 out of the ATM each day. You’re also limited in how much of a blilpay you can do in one day – i think the limit is $2700?
You can also “stash” money and that earns you points/entries toward a monthly $500 giveaway. Supposedly people win that. But here’s the real kicker: you get 1, 2, or 3% cashback, depending on how you use the card. 2% at Walmart, and 3% at Walmart.com. But you can only cash out what you’ve earned each year on your anniversary (12 statements). Max $75. So, the trick is this: load $3000 onto the card, and buy $3000 in MO’s AT WALMART. You earn an easy 2%. but do it toward the end of your yearly cycle. Quick $60-75, depending on how hard you wanna go.
Thanks for the info. My card may be wiped out due to inactivity now. Oh well.
I think you mean MOs are $.70, not $70.
So this can only be reloaded in Walmart stores, correct?