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Walmart MoneyCard, Issued by Green Dot Bank, Now Offered as Demand Deposit Account with Enhanced Digital Banking Tools and Features for Customers

June 24, 2021 -- Account holders gain access to Green Dot Bank’s comprehensive digital banking platform that will evolve with more innovative features over time

Walmart (NYSE: WMT) and Green Dot (NYSE: GDOT) today announced the Walmart MoneyCard issued by Green Dot Bank is now offered as a demand deposit account (“DDA”) better equipped to help Walmart customers save money and live better. New and existing Walmart MoneyCard account holders may now access Green Dot Bank’s more comprehensive digital banking platform similar to a traditional banking account, plus the ease and convenience of managing their finances either digitally or at Walmart’s 4,500-plus locations or Green Dot’s 90,000-plus retail distribution locations nationwide.

“We are excited to work with Green Dot to provide a more convenient and innovative way for customers to manage their finances with the new Walmart MoneyCard, which offers cash back, overdraft protection, direct deposit, interest on savings and more” said Julia Unger, vice president of Financial Services at Walmart. “We are committed to offering our customers valuable services to help them manage their financial needs.”

By converting the Walmart MoneyCard from prepaid to DDA, Walmart and Green Dot are able to empower Walmart MoneyCard’s one million-plus current account holders and new customers across the U.S. and Puerto Rico with more Green Dot Bank accessible digital banking and money management features. The new Walmart MoneyCard is designed to help customers more seamlessly access, manage and move their money — and ultimately improve their financial health — through a suite of innovative and useful tools that will evolve and expand over time.

“As a financial technology company committed to seamlessly connecting people to their money, we’re always looking for opportunities to modernize products with helpful tools, great value and exceptional customer experiences,” said Brandon Thompson, EVP of Retail, Tax and PayCard, Green Dot. “We’re proud to introduce the ‘new’ Walmart MoneyCard as a DDA designed to benefit customers in ways that are truly meaningful and valuable to them, with many more new features and functionality to come.”

Enhanced features cardholders receive immediately from Green Dot Bank with the conversion to DDA include:

Easier Access to Waived Monthly Fee — Cardholders are now able to waive their monthly maintenance fee with a qualifying direct deposit of $500, half the amount required previously.¹
Overdraft Protection — Cardholders now gain the peace of mind of having up to $200 in overdraft protection for that extra help when they need it most. Cardholders who receive eligible direct deposits are eligible for one of three different coverage levels for flexibility.²

For a limited time, new customers who activate a Walmart MoneyCard purchased either in-store or online will receive a $20 bonus with a qualifying direct deposit of $500 or more through August 15, 2021.

The Walmart MoneyCard is available in stores or online at www.WalmartMoneyCard.com.

About Walmart (NYSE: WMT)
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, nearly 275 million customers and members visit our more than 11,300 stores under 58 banners in 27 countries and eCommerce websites. With fiscal year 2019 revenue of $514.4 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.

About Green Dot

Green Dot Corporation (NYSE: GDOT) is a financial technology and registered bank holding company committed to transforming the way people and businesses manage and move money, and making financial wellbeing and empowerment more accessible for all.

Green Dot’s proprietary technology enables faster, more efficient electronic payments and money management, powering intuitive and seamless ways for people to spend, send, control and save their money. Through its retail and direct bank, Green Dot offers a broad set of financial products to consumers and businesses including debit, prepaid, checking, credit and payroll cards, as well as robust money processing services, tax refunds, cash deposits and disbursements. The company’s Banking as a Service (“BaaS”) platform enables a growing list of America’s most prominent consumer and technology companies to design and deploy their own customized banking and money movement solutions for customers and partners in the US and internationally.

Founded in 1999 and headquartered in Austin, TX, Green Dot has served more than 33 million customers directly, and now operates primarily as a “branchless bank” with more than 90,000 retail distribution locations nationwide. Green Dot Bank is a subsidiary of Green Dot Corporation and member of the FDIC. For more information about Green Dot’s products and services, please visit www.greendot.com.

1. No monthly fee with qualifying direct deposits, otherwise $5.94 a month. Waived when $500+ is direct deposited in the previous monthly period. Otherwise, first monthly fee occurs upon first use, the day after card activation or 90 days after card purchase, whichever is earlier.

2. Opt-in required. $15 fee may apply to each eligible purchase transaction that brings an account negative. Balance must be brought to at least $0 within 24 hours of authorization of the first transaction that overdraws an account to avoid the fee. We require immediate payment of each overdraft and overdraft fee. Overdrafts paid at our discretion, and we do not guarantee that we will authorize and pay any transactions.

* When on a desktop, hover over * to view important disclosures. When on a mobile device, tap on * to view disclosures.

Not a gift card. Must be 18 or older to purchase. Online access, mobile number verification (via text message) and identity verification (including SSN) are required to open and use your account. Mobile number verification, email address verification and mobile app are required to access all features.

Green Dot® cards 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.

GO2bank™ cards issued by GO2bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. And by Mastercard International Inc.

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 up to the allowable limits.

All third-party names and logos are trademarks of their respective owners. These owners are not affiliated with Green Dot Corporation and have not sponsored or endorsed Green Dot Bank products or services. Neither Green Dot Corporation, Visa U.S.A. nor any of their respective affiliates are responsible for the products or services provided by Ingo® Money and Plaid, Inc. Partner terms and conditions apply.

Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Google, Android and Google Play are trademarks of Google Inc., registered in the U.S. and other countries. Samsung is a registered trademark of Samsung Electronics Co., Ltd.