As an experienced ecommerce seller, I know how important it is to understand all your money management options. Services like the Walmart Money Center can be a convenient way to handle financial transactions, especially if you operate a cash-based side business. But it‘s crucial to know the details before relying on any financial provider.
In this comprehensive guide, I‘ll share insider tips and analysis on Walmart Money Center hours, services, fees, pros and cons, and alternatives – everything you need to evaluate if it fits your needs in 2023!
When Is My Local Walmart Money Center Open?
Knowing your specific Money Center‘s hours is key to avoiding wasted trips. While each location sets their own schedule, most adhere to the following general hours:
- Monday-Saturday: 7am-6pm
- Sundays: 10am-6pm
However, many Money Centers, especially those inside 24-hour Supercenters, now offer extended weekday hours until 8pm or later. A few may even be open 24/7.
To check your Money Center‘s hours:
- Visit the Walmart Store Finder
- Enter your ZIP code and select your store
- Click "Store Details" and scroll down to "Money Services"
As an insider tip, know that Money Center hours usually differ from the store‘s general hours. I once showed up right at opening time for the store itself, only to find out the Money Center didn‘t open for another hour! So always confirm the Money Center hours first.
Pro Tip: If you need to get there right at opening, consider calling the day before to double check their opening time, as it can vary day to day.
What About Walmart Money Center Sunday Hours?
Many Walmart Money Centers do operate shortened Sunday hours, typically 10am-6pm. But not all locations offer Sunday hours at all.
To see if yours is open Sundays:
- Check the Money Center hours on the store finder
- Call ahead to confirm weekend availability
- Know that holiday weekends may have modified hours
Inside scoop: From a seller‘s perspective, Sundays can be one of the most convenient times to visit the Money Center, as many stores are less busy. So having access on Sundays is a major perk.
An Expert Seller‘s Overview: Key Services at the Walmart Money Center
The Walmart Money Center offers a wide array of financial services and products beyond just the basics. Here‘s a quick look at some of the most essential offerings:
Prepaid debit cards – Including the Walmart MoneyCard, a reusable card with cash back rewards. A great option if you need a card but don‘t qualify for a bank account.
Credit cards – Apply for a Walmart credit card right in store. Instant approvals available for limited credit lines.
Installment financing – Get approved to make larger Walmart purchases over time through the Money Center.
Domestic & international money transfers – Convenient wire transfers and money orders.
Check cashing – Cash government, payroll, tax refund, and other check types. Fees apply.
Bill payments – Pay thousands of bills in person or electronically.
Money orders – Purchase money orders for a small fee.
Tax preparation – Get help filing your taxes at some locations (seasonally).
Check printing – Print personal checks as needed for a fee.
PayPal services – Deposit cash to your PayPal account in store.
Banking app – Manage MoneyCard accounts and more via the Walmart MoneyCard mobile app.
Let‘s explore some of these key Money Center services in more detail.
Expert Analysis: The Walmart MoneyCard
One of the most popular Money Center offerings is the Walmart MoneyCard – a prepaid debit card that offers some nice perks for sellers and side hustlers operating cash-based businesses.
Here are some key advantages my seller friends and I have noticed about the MoneyCard:
Cash back rewards – You can earn accelerated cash back on Walmart purchases (3% online, 2% at gas stations, 1% in stores). This can add up quickly if you regularly stock up on inventory and supplies at Walmart.
Digital account management – The MoneyCard mobile app makes it easy to check balances, deposit checks, pay bills, and send money digitally. Much more convenient than carrying cash everywhere!
No credit check or minimum balance – Unlike bank accounts, anyone can get approved for a MoneyCard regardless of credit or account balance. Very handy for new or informal businesses.
Overdraft protection – MoneyCards allow overdrafts up to $200 on purchases. Much lower than overdraft fees at traditional banks!
Early direct deposit – If your business revenue comes via direct deposit, you can receive funds up to 2 days early with qualifying deposits. A nice cash flow perk!
One downside to watch out for is that MoneyCards do charge fees for certain transactions like out-of-network ATM withdrawals. But overall, it‘s a flexible card with nice rewards options.
What Types of Checks Can You Cash at Walmart Money Centers?
Having access to convenient check cashing services can be a big help for any cash-focused small business. Here‘s a breakdown of which types of checks Walmart MoneyCenters can cash:
- Payroll checks
- Government checks
- Cashier’s checks
- Insurance settlement checks
- 401k/retirement account checks
- Tax refund checks
- Preprinted checks up to $1000
- Two-party personal checks up to $200
- Preprinted checks from $1000-$5000
The following check cashing fees apply:
|Up to $1000 (preprinted)||$4|
|Up to $200 (two-party)||$6|
Call ahead if cashing any check above $5000, as higher amounts may not be allowed.
Pro Tip: If cashing two-party checks, make sure to have valid ID from both check account holders for a smooth and secure transaction.
Being able to cash business or personal checks onsite for a reasonable fee can certainly provide useful liquidity for any cash-based venture!
Money Center Pros and Cons: When Is It Worth Using?
Below I‘ll share some expert insights on the advantages and downsides of using Walmart Money Center services, so you can decide if it‘s a good option for your needs.
Convenience – With over 3,000 locations nationwide, Money Centers allow you to handle financial transactions during regular shopping trips.
No bank required – The unbanked/underbanked can access services without a formal bank account.
Familiar environment – For many, Walmart feels more accessible and less intimidating than banks.
Money orders – Easy way to pay personal and business bills with a money order. Cheaper than cashier’s checks from a bank.
Check cashing – Cash business or personal checks for a reasonable fee without an account.
Prepaid cards – Alternative to bank accounts for managing business or personal spending.
Fees – Check cashing, money orders, prepaid cards, and other services come with fees that can add up.
Transaction limits – Cashing larger checks or sending bigger wire transfers may not be allowed.
Protection – FDIC insurance and fraud protection not as strong as banks.
Privacy – Handling financial transactions in public view.
Hours – Money Centers have shorter hours and are closed on holidays.
Services – Lack of small business services like payroll, merchant accounts, insurance, etc.
Overall, the Walmart Money Center can be a convenient option for basic financial transactions through a familiar retailer. But for more advanced business banking needs, a dedicated financial institution may be preferable.
Expert Picks: Top Alternatives to the Walmart Money Center
While the Walmart Money Center meets many basic financial service needs, what are some alternatives for small business owners and cash-based sellers to consider?
Here are a few of my top picks as an ecommerce seller:
Online business bank accounts – Accounts with low monthly fees, early direct deposit, and digital management. Great for ecommerce sellers. Try Novo, Mercury, or Lili.
Credit unions – Member-owned nonprofits focused on service over profits. Offer business services and perks like shared branching.
Fintech apps – Streamlined digital apps for managing cash flow, accepting payments, tracking spending, and more. Examples: PayPal, Venmo, Square, QuickBooks.
Insurance providers – For business protection, independent providers often beat big banks on customer service and value.
Discount brokers – Executing investments, retirement plans, and wealth management via discounted online brokerages can save big on fees.
As always, be sure to thoroughly compare costs, features, technology integration, security, and customer service when choosing financial service providers for your business. The right option depends on your specific needs and preferences.
The Bottom Line: Get the Most from Your Local Walmart Money Center
The Walmart Money Center provides a unique range of financial products and services under one roof alongside everyday shopping. With convenient locations, flexible prepaid card options, check cashing, and money orders, it can be a useful option – especially if you operate a cash-based small business or side hustle.
Just be aware of hours, limits, fees, and pros vs cons when weighing the Money Center against alternatives. With the right information and precautions, services like check cashing and Walmart MoneyCards can help simplify your business finances and cash flow.
I hope this insider’s guide provides valuable insights into maximizing your local Walmart Money Center. Let me know if you have any other questions!