BENTONVILLE, Ark.—Walmart and Green Dot said the retailer’s MoneyCard is now offered as a demand deposit account.
Users can manage their finances digitally or at Walmart’s 4,500 locations or more than 90,000 Green Dot retail distribution locations nationwide, Walmart stated.
Consumers who convert their Walmart MoneyCard to a demand deposit account can access features that include overdraft protection and no monthly fee for a qualifying direct deposit of $500, Banking Dive reported.
Walmart MoneyCard users can also access a digital banking platform. Walmart is offering a $20 bonus to customers who activate a Walmart MoneyCard bought online or in-store and deposit $500 or more by Aug. 15.