What does it mean to be FDIC insured?

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What does it mean to be FDIC insured?

Walmart MoneyCard is issued by Green Dot Bank, Member FDIC (Member of the Federal Deposit Insurance Corporation), which means your money is federally insured up to allowable limits & never held by a third-party bank. The FDIC is responsible for insuring financial institutions so depositors don’t lose money in the unlikely event that a bank fails. Walmart MoneyCard customers don’t need to purchase deposit insurance it is automatic for any deposit account opened at an FDIC-insured bank. Deposits are insured up to allowable limits per depositor, per FDIC-insured bank, per ownership category.

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Must be 18 or older to purchase a Walmart MoneyCard. Activation requires online access and identity verification (including SSN) to open an account. Mobile or email verification and mobile app are required to access all features

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.

Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

Google, Android and Google Play are trademarks of Google Inc., registered in the U.S. and other countries.

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