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.
Cash back, up to $75 per year, is credited to card balance at end of reward year and is subject to successful activation and other eligibility requirements. Redeem rewards using our website or app. You will earn cash back of three percent (3%) on qualifying purchases made at Walmart.com and in the Walmart app using your card or your card number, two percent (2%) at Walmart fuel stations, and one percent (1%) on qualifying purchases at Walmart stores in the United States (less returns and credits) posted to your Card during each reward year. Grocery delivery and pickup purchases made on Walmart.com or the Walmart app earn 1%. For the purpose of cash back rewards, a "reward year" is twelve (12) monthly periods in which you have paid your monthly fee or had it waived. See Deposit Account Agreement for details.
Opt-in required. Account must have initial eligible direct deposits, must be in good standing and have an activated chip-enabled debit card to opt-in. Ongoing eligible direct deposits and other criteria apply to maintain eligibility for overdraft protection. Only debit card purchase transactions are eligible for overdraft protection and overdrafts are paid at our discretion. We reserve the right to not pay overdrafts. For example, we may not pay overdrafts if the account is not in good standing, or is not receiving ongoing eligible direct deposits, or has too many overdrafts. Overdraft fees may cause your account to be overdrawn by an amount that is greater than your overdraft coverage. A $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 a fee. Overdraft protection is only available on Demand Deposit Accounts that meet eligibility requirements. Log into and refer to your Account Agreement to check feature availability.
Monthly fee waived when you direct deposit $500+ in the previous monthly period. Otherwise, $5.94 a month.
Early direct deposit availability depends on payor type, timing, payment instructions, and bank fraud prevention measures. As such, early direct deposit availability may vary from pay period to pay period. The name and Social Security number on file with your employer or benefits provider must match your Walmart MoneyCard account to prevent fraud restrictions on the account.
Limits apply. Your funds typically become available on your account within 10 minutes for your use.
Carrier message & data rates may apply.
Monthly fees will continue on locked cards. Previously authorized transactions and deposits/transfers to your account will function with a locked card.
Interest paid annually on each enrollment anniversary based on the average daily balance across all savings of the prior 365 days, up to a maximum average daily balance of $1,000 across all savings, if the primary account is in good standing and has a positive balance. 2.00% Annual Percentage Yield may change at any time before or after account is opened. Annual Percentage Yield is accurate as of January 2026. Fees on your primary account may reduce earnings on your savings account. See Deposit Account Agreement for terms and conditions.