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:

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.
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.
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.

¹Message and data rates may apply..

²Activated, chip-enabled debit card, eligible direct deposit and opt-in required. $15 fee may apply to each eligible purchase transaction that brings your account negative. Balance must be brought to at least $0 within 24 hours of authorization of the first transaction that overdraws your 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 transaction. Learn more about Overdraft Protection.

³Up to $75 per year. Subject to eligibility. Redeem rewards upon each anniversary of opening the account, using our website or app. See Deposit Account Agreement.

⁴Early availability of direct deposit depends on timing of payroll's payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. Make sure the name and social security number on file with your employer or benefits provider matches what's on your Walmart MoneyCard account exactly. We will not be able to deposit your payment if we are unable to match recipients.

⁵Monthly fee waived when you direct deposit $500+ in the previous monthly period. Otherwise, $5.94 a month.

Walmart MoneyCards 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.

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. Green Dot is a registered trademark of Green Dot Corporation.

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The "Spark" design ( * ), Walmart and Save money. Live better are marks and/or registered marks of Walmart, Inc.