En esta noticia
Costco has launched Costco Wallet in the United States, giving members a new way to manage their Shop Card balances and make purchases through their digital account.
The new feature is integrated into Costco’s website and mobile app and is designed to make it easier for shoppers who have multiple Shop Cards to keep their funds in one place. Members can also save a payment method in the wallet and use it when shopping at Costco.
How Costco Wallet works
To use Costco Wallet, members must first have a verified Costco membership. Once the account is verified, the Wallet section can be accessed through the “Account” area.
Shoppers can then select Costco Wallet, choose the option to add a Shop Card and enter the card number and PIN. Multiple Shop Cards can be added until the wallet reaches its maximum balance.
Once the funds are transferred, the original Shop Card shows a $0 balance, while the money becomes available inside the digital wallet.
Costco currently allows members to save one payment method in the wallet. According to the company, supported payment methods can vary, and members may need to use a different card if their issuer or card type does not meet Costco’s security requirements.
The $10,000 limit shoppers need to know
One of the most important details is the $10,000 limit. Costco says the total value of all Shop Cards stored in a member’s Wallet cannot exceed $10,000 at any given time. There is also a $10,000 daily loading limit.
The limits apply to both physical and digital Shop Cards, meaning their combined value counts toward the maximum.
If a member attempts to load more than the daily limit, Costco says an error message may appear.
How to pay with Costco Wallet
The wallet can be used for purchases both online and at Costco warehouses.
For online purchases, members can access Costco Wallet from their account and enable the Shop Card option during checkout. The available Shop Card balance and saved payment method can then be applied to the order.
At a warehouse, shoppers can use the Costco mobile app. After enabling the automatic application feature, they can scan their digital membership card at checkout and confirm that they want to use their Wallet balance.
Costco says the feature can also be used at warehouse registers, the food court, pharmacy and gas station.
The money does not expire
Another important benefit is that Shop Card funds stored in Costco Wallet do not expire.
Members can also check their transaction history through the website or mobile app. Costco provides transaction information in six-month periods and keeps a history of up to two years.
However, once a Shop Card’s funds have been transferred to the Wallet, the original card is emptied. Costco also says Wallet Shop Card funds generally cannot be redeemed for cash, except where required by law.
What happens if you return a purchase?
Refunds depend on the payment method used. If a purchase was made with funds from a Shop Card stored in Costco Wallet, the refunded amount is returned directly to the Wallet.
For purchases made online with a saved credit or debit card, Costco says the refund goes back to the card used for the transaction.
The new feature therefore gives Costco members a simpler way to manage their Shop Cards without having to keep track of several physical or digital cards separately.
For frequent Costco shoppers, the combination of digital payments, consolidated Shop Card balances and a $10,000 storage limit makes Costco Wallet a significant addition to the retailer’s digital shopping system.