Walmart's Debit Card Has Lots Of Hidden Fees

El banco del Walmart is issuing pre-paid debit cards, and like everything else at Walmart, they suck. Here’s some of the hidden fees:

  • Card issue fee: $8.94
  • Reload the card with more money: $4.64
  • ATM transaction fee: $1.95
  • ATM balance inquiry: $0.75
  • Monthly maintenance fee: $4.94
  • Statement fee: $2.00
  • Great idea, tap into the “unbanked,” and then rip them off. Here’s an even better idea for potential Walmart Debit Card users: cash! No fees!

    Wal-Mart MoneyCard Cardholder Agreement [via J-walk blog]