Walmart MoneyCard First to Offer Cash Back on Prepaid Debit Card
Cash Back for Gas Purchases Nationwide
BENTONVILLE, Ark., May 17, 2010 – Today, Walmart (NYSE: WMT) announces the first cash-back incentive for consumers using a prepaid debit card. When customers use the Walmart MoneyCard to buy gasoline for their vehicles, they’ll receive 1 percent cash back on their gas purchases nationwide through Dec. 31, 2010.
“We know our customers need to stretch their budgets wherever they can. Just in time for Memorial Day and summer vacations, we are delighted to offer a benefit they want – savings on gas,” said Jane Thompson, president, Walmart Financial Services. “It’s one more way we can help families save money.”
The Walmart MoneyCard* is a reloadable prepaid Visa debit card that only costs $3 to purchase, does not require a bank account or credit check, and never has overdraft fees. Customers buying new Walmart MoneyCards will be automatically enrolled in the cash-back program, while customers who already have Walmart MoneyCards will find it easy to enroll. The cash back will be added to the Walmart MoneyCard balance.
“The Walmart MoneyCard is a smart way to manage money,” said Thompson. “It’s safer than cash because you’re protected if it’s lost or stolen. For many of our customers, the Walmart MoneyCard replaces cash and helps them do everything they need to do, such as paying bills or shopping online.”
The Walmart MoneyCard is issued by GE MoneyBank with additional services provided by Green Dot. The Walmart MoneyCards are available at U.S. Walmart stores and can be used everywhere Visa debit cards are accepted. The Walmart MoneyCards are protected by the Visa Zero Liability Policy, which protects the cardholder from unauthorized purchases, fraud and theft if the card is lost or stolen.** For more information, visit www.walmartmoneycard.com.
Using the Walmart MoneyCard
The Walmart MoneyCard can be used for many purposes, including:
- Shop everywhere Visa is accepted, including online and at walmart.com
- Direct deposit your paycheck to the card
- Get cash from millions of ATMs worldwide*
- Pay bills including cable, cell phone and others
- Pay for gas, groceries and more
- Use at restaurants, make hotel reservations, buy airline tickets
- Budget and track spending online with E-Mail/SMS Balance Alerts
Walmart Money Services
Walmart is a leading provider of affordable money services that help customers manage their money and keep their finances on track. The company estimates that last year customers saved $450 million in fees by using Walmart money services.
These services include:
- Check Cashing – With Walmart check cashing, customers can conveniently cash payroll or government checks, including tax-refund checks, starting at $3.
- Bill Payment – Walmart offers three-day, next-day and same-day bill payment delivery options, with prices starting at 88 cents.
- Money Transfers – Customers can use MoneyGram® to send money to friends and family around the world in minutes, for a great low fee.
Every week, millions of customers visit Walmart stores, Neighborhood Markets, and Sam’s Club locations across America or log on to the online store at www.walmart.com. The company and its Foundation are committed to a philosophy of giving back locally. Walmart is proud to support the causes that are important to customers and associates right in their own neighborhoods, and last year gave more than $467 million in cash and in kind gifts to local communities in the United States. More information about Walmart can be found by visiting www.walmartstores.com.
*The Walmart MoneyCard is issued by GE Money Bank, member FDIC, pursuant to a license from Visa U.S.A., Inc. Additional services provided by Green Dot Corporation. Purchase price, monthly, ATM and other fees may apply. See Cardholder Agreement for details. Not available in all states.
** Certain limitations and a lost Card replacement fee may apply. See “Your Liability for Unauthorized Use of your Walmart MoneyCard or PIN” in the Cardholder Agreement for details.
FOR MORE INFORMATION
- Walmart information online: www.walmartstores.com; Merchandise sales: www.walmart.com Walmart MoneyCard: www.walmartmoneycard.com.
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