LAS VEGAS (KLAS) — Walmart announced that it will waive monthly maintenance fees on the Walmart MoneyCard Reloadable Debit Card from now until June 30th. The offer will apply to new MoneyCard customers who deposit $500 or more to their MoneyCard account.
The fee waiver is expected to assist those customers that do not have traditional bank accounts and or rely on stores to cash checks, including their stimulus payment.
The retailer is encouraging customers to setup direct deposit and ensure they receive their stimulus funds electronically as well as eliminates the need for individuals to leave their home to cash or deposit paper checks.
Interested customers can sign up for an account directly on the WalmartMoneyCard.com and it provides the customer with banking information and a Visa/Mastercard debit card.
Walmart said that it will continue to service customers who rely on in store check-cashing or card-cashing services for a fee. Walmart also announced that they are increasing the maximum check-cashing amount to $7,500 (previously $5,000) through July 31. The fees are below:
- Up to $4 fee to cash pre-printed checks up to $1,000
- Up to $8 fee to cash pre-printed checks above $1,000 and up to $7,500
- Up to $3.74 fee to withdraw up to $1,000 off a debit card
The IRS also has provided additional ways for stimulus recipients to set up their direct deposit and access their funds faster.
More details can be found in the blog post below and linked here.