3 Smart tips

3 smart tips for using overdraft protection

Like any useful benefit, it works better when you use it the right way

It happens to the best of us.

A forgotten subscription automatically renews. Your gym membership raised their prices. You’re dining out with a friend who "forgot" their wallet. There are countless reasons why, every now and then, even the most organized among us finds their accounts overdrawn.

Many demand deposit accounts, commonly referred to as checking accounts, offer overdraft protection—as long as you’ve opted in.

Like any useful benefit, however, overdraft protection works better when you use it the right way. Here are three ways to get the most out your overdraft protection:

  1. Pay back your overdraft promptly to avoid a fee. Often there is a grace period, as long as you bring your negative balance back to at least $0 within a certain period.
  2. Set up account alerts1. You can decide what you consider a low balance, and then set up account alerts to notify you when you drop below that predetermined amount.
  3. Check your balance regularly. All the tools you need to manage your account are as close as your smartphone. Your balance, account activity, and pending transactions are just a tap away.

Lucky for you, your Walmart MoneyCard is available with overdraft protection.2 So, on top of enjoying the cash back on Walmart purchases,3 direct deposit with early availability,4 and no monthly fees5, you can swipe with confidence.

Learn more about overdraft protection here.