The monthly fee ranges from $0 to $9.95 depending on the fee plan you choose and whether you use Netspends free direct deposit feature. For cardholders on a pay-as-you-go plan, the payment transaction fee is pretty consistent with other prepaid cards at $1.50 for PIN and signature transactions. The company says that when you use these reloadable cards, you can get your paycheck up to two days faster or government benefits up to four days sooner via direct deposit. White says a Netspend account has a large footprint and easy-to-understand marketing materials, and that the high interest rate on the savings account is likely to appeal to many consumers. This is most evident in its banking features, including online bill pay, mobile check deposit, and a high-yield savings account. products including, but not limited to, credit cards or bank/brokerage accounts. Talk about censorship. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Online Account Center: With the Netspend website you can see all your transactions, set up direct deposit and activate Netspend Payback Rewards. Netspend is a payment company that offers prepaid debit cards geared toward unbanked and underbanked consumers. However, the credit card information that we publish has been written by experts who know these products inside out, and what we recommend is what we would (or already) use ourselves. 2022 A.R. For purposes of FDIC coverage, all funds held on deposit by you at Pathward, N.A. It was founded in 1999 and is based in Austin, Texas. Erin currently maintains her status as Alex's adventure-seeking partner-in-crime and contributes to Upgraded Points through in-depth content creation and relationship management. What is Netspend Prepaid Card? You can apply for a Netspend prepaid card online. 6,000,608 and So I decided to check out the comments again. You may opt-out at any time by visiting the Netspend Payback Rewards page in your Online Account Center. During the application, youll need to complete your name, address, date of birth, and your government ID number. Individuals can apply for a Netspend Prepaid Visa card online. The Netspend Prepaid Mastercard is issued by Pathward, N.A., and Republic Bank & Trust Company pursuant to license by Mastercard International Incorporated. Netspend Payback Rewards is an optional program. The Netspend Prepaid Visa card is a simple option for enabling transaction payments, without requiring a bank account. 4. The Netspend Visa Prepaid Card may be used everywhere Visa debit cards are accepted. Kevin lives in Cleveland, Ohio with his wife and four kids. Interest is calculated on the Average Daily Balance(s) of the Savings Account and is paid quarterly. With the Netspend Prepaid Visa card, you can do mostly everything that you can with a bank account, from checking account balances to transferring payments, and cashing checks to paying for everyday items. Netspend offers a variety of prepaid cards including a Mastercard option. Terms and Costs apply. No credit check is necessary to get one of these cards. Netspend currently holds a 4.1 out of five stars rating on TrustPilot, with over 11,000 reviews. Customers provide the company with their names and addresses, and the company mails them personalized cards that they activate and load with funds. With a Netspend Prepaid Debit Card, you can make purchases at stores, over the phone and online. The card earns an unlimited 1% cash-back, and your cash rewards are added to your card right after you earn them and can be redeemed at any time. Prepaid Debit Card How to Market Your Business with Webinars? Your funds on deposit are FDIC insured up to $250,000 through your issuing bank, subject to aggregation of all funds held on deposit. We take your comments very seriously as they really help us to improve the site. One of the most popular and trusted prepaid cards, the Netspend card offers low fees, rewards and an array of features, including mobile check deposit, bill pay and a high-yield savings account. Many of the credit card offers that appear on this site are from credit card companies from which we receive financial compensation. Estimates based on prior results, which will vary based on specific circumstances. Specifically, ATM withdrawal fees cannot be waived, although cardholders can get cash back at retailers for free. Netspend is a leading provider of FDIC-insured Visa Prepaid, Prepaid Mastercard , and *Monthly Fee ranges from $0 to $9.95 depending on plan chosen and other factors. Refer a Friend: Refer a friend who loads at least $40 to their new card, and you both receive a $20 credit. Arranging a direct deposit is a quick and convenient way to load funds onto your prepaid card and can be used to receive funds such as paychecks or government benefits. 6,000,608 and 6,189,787. 6,000,608 and 6,189,787. WebA good Netspend prepaid card may serve as a bank account solution to own update more than large-desire cash advance when the a buyers opts to (24) MetaBank matches your own personal and you will team financial need, with examining, deals, mortgage, debit card, charge card, later years think and you may prepaid credit card (25) If the Average Daily Balance is $2,000.00 or less, the interest rate paid on the entire balance will be 5.87% with an annual percentage yield (APY) of 6.00%. Use of the Card Account is subject to activation, ID verification, and funds availability. As with any prepaid card, this will not count against your credit rating, so if youre looking to build credit, you would need to consider a secured credit card such as the First Progress Platinum Prestige Mastercard Secured Credit Card. Here is a list of the functions you can perform with an online account: Online Bill Pay Check Account Balance Set up Direct If that happens, though, you can contact Netspends customer service and report the lost or stolen card. A Chime Checking Account is required to be eligible for a Savings Account. However, the fees on this card can add up quickly. This would benefit customers that dont plan to use their card for every single purchase they make, as those $1.50 transaction fees would add up. All Rights Reserved. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Netspend does not charge for this service, but your wireless carrier may charge for messages or data. This site does not include all credit card companies or all available credit card offers that are on the market. We work hard to help ensure your account information stays secure. Reward offers are tailored to your shopping habits, and the more you shop reward offers, the more offers you will see within your account. approved or otherwise endorsed by the credit card advertisers. All Accounts are opened subject to our ability to verify your identity by requiring acceptable types of identification. NetSpend allegedly promoted its reloadable prepaid debit cards as a way to store and immediately access funds. Mobile Check Load: Using the Netspend smartphone app, you can deposit checks by snapping a picture of the check. Depending on your needs, there may be better options than Netspend. NetSpend is a company with a prepaid debit card that it claims offers a Banking Content Disclosure: Content is not provided or commissioned by the bank advertiser(s). But customers of NetSpend were reportedly not able to access their money as promised. However, the Netspend card comes with significant fees. See more at our Privacy and Security Center. The Netspend app includes budgeting tools that enable you to set spending limits by category. No Netspend is an exception. I had 40 dollars in my account and I went to pay a 40 dollar bill but the card was continually declined. This article outlines the pros and cons of the Netspend Visa Prepaid Card, to help decide if its the card for you. There are several ways to add fund to the card: Direct Deposit: Get your paycheck or government benefits check deposited directly to your Netspend account. 6. All rights reserved worldwide. The interest rates and APYs of each tier may change. Netspend Premier customers also receive a free customized card. The Netspend Premier prepaid card is an upgraded prepaid card offering more features and lower monthly fees than Netspends standard card. Read on to learn more about the pros and cons of a Netspend card, and to determine whether its the right option for you. The best payment option depends on your spending habits. Protection against unauthorized purchases. Cash back rewards are credited to your Account and are not available in the form of a check or other direct payment method. Theres no limit to the number of friends you can refer and its all managed from the online account center. Netspend Premier customers benefit from nearly 50% off their monthly plan ($5 instead of $9.95). Banking services are provided by our bank partners. WebCheck out NetSpend Card's 15 second TV commercial, 'Early Paydays: No Monthly Fees' from the Credit Cards industry. IMPORTANT INFORMATION FOR OPENING A CARD ACCOUNT:To help the federal government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires us to obtain, verify, and record information that identifies each person who opens a Card Account. They offer financial solutions for underbanked individuals who may not otherwise benefit from traditional financial services or simply choose to not have a bank account. Prepaid cards are a potential avenue for individuals whove had trouble opening a checking account because of past banking issues. Information provided on Forbes Advisor is for educational purposes only. But, if you fail to do this within the 24-hour period, youll be charged $20 per each transaction that overdraws the account by more than $10. Put $1,000 into each Netspend account and youll have $5,000 earning you 5% guaranteed interest. You can have money loaded on the card in the form of a direct deposit. Interest is calculated on the Average Daily Balance(s) of the Savings Account and is paid quarterly. Netspend provides a viable alternative to a checking or savings account in the Netspend has an A- rating with the Better Business Bureau (BBB), but thats somewhat misleading as its customer review rating currently sits at 1.06 out of five stars. With Netspend Direct Deposit, you can get paid faster than a paper check. With Netspend Direct Deposit, you can get paid faster than a paper check. If youve had trouble with credit card debt in the past or if you simply want to be extra careful about avoiding debt in the future a prepaid debit card can be a great option for paying for your purchases and other expenses. The maximum load value at a Netspend reload location is $2,500 within a 24-hour period. Consumers should compare the features they find most important for example, fee structure, access to places where the card can be loaded and interest rates on deposited money.. That way, if its stolen, it can be used. Heres a side-by-side comparison of payment options for Netspend prepaid cards. Advertising Disclosure: allCards.com is an independent, advertising-supported blog offering Direct deposit is free and can result in getting paid up to 2 days faster. Savings Account funds are withdrawn through the All-Access Account (maximum 6 such transfers per calendar month) and transaction fees could reduce the interest earned on the savings account. or Republic Bank & Trust Company, will be aggregated up to the coverage limit, currently $250,000.00. approved or otherwise endorsed by the bank advertiser(s). The APYs were accurate as of 5/19/2021. Founded in 1999, its served more than 10 million customers and counting. The cost of the Netspend card is hard to look past. 3 To minimize losses, Cardholder must notify Netspend promptly of any loss of the card or Debt consolidation loans by Reach Financial. Certain products and services may be licensed under U.S. Patent Nos. The Netspend Prepaid Visa Card is a low cost reloadable prepaid debit card. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). We are compensated when users click links to or apply for sponsored financial Not available in all states. Netspend and Skylight are federally registered U.S. service marks of Netspend Corporation. All claims are based on enrolled debts. Over-the-counter withdrawal fee at a financial institution, Over-the-counter withdrawal fee at a Netspend reload network location, 2.75% of the withdrawal amount or $4.00 (whichever is greater), Expedited mobile check load fee (government and payroll checks with a pre-printed signature), 2% of check amount or $5 (whichever is greater), Expedited mobile check load fee (all other check types), 5% of check amount or $5 (whichever is greater), Account-to-account transfer fee via website, Account-to-account transfer fee via customer service agent, Pay a flat $1.50 on purchases if on the Pay-As-You-Go Plan; $0 for Monthly/Reduced Monthly Plans, Defense Finance and Accounting Service payments (DFAS), Government disability benefits-SSDI or workers compensation (varies by state), State unemployment benefits (varies by state), Up to $9.95 if purchased at a retail location, $5 reduced monthly plan for accounts that have received $500 in direct deposits from payroll/benefits in a calendar month. If we are not able to verify your identity to our satisfaction, we will not open your Account or we may close the Account if it was previously funded. With any financial service product, you need to clearly understand the fee structure.. The Netspend Visa Prepaid Card is a simple option for enabling transaction payments without requiring a bank account. When you introduce a friend to a Netspend Prepaid Visa card, youll both receive $20 credit after they load $40 onto their card. In evaluating any financial product, the first step is identifying the decision-making factors important to consumers. Editorial Disclosure:The content featured on UpgradedPoints.com has not been influenced, provided, or reviewed by the credit card companies mentioned. Prepaid debit cards can make sense for those with a history of credit card debt problems. The Netspend prepaid card is a reloadable prepaid debit card. Netspend did not want to take responsibility for not doing its job. The card also offers direct deposits for no additional fee, free in-network ATM withdrawals, fraud protection, and 90-day purchase protection on purchases up to $1,000. Netspend is a financial company that offers alternative financial services, such as prepaid debit cards, direct deposit, bill pay, and mobile check depositing. (2019). That way, you cant overspend and end up in debt trouble. Were here to help. Once you run out of money on the card, youll no longer be able to use it to make charges. At NationalDebt Relief, we take pride in empowering people to regain their financial stability through our provendebt reliefprogram. The Netspend prepaid card is a reloadable prepaid debit card. Bourke, N., Horowitz, A. and Lake, W. (2014). Alternatively, customers that are planning to use the card regularly (for at least 7 purchases or more per month) would benefit from the monthly plan where no transaction fees are incurred when making purchases. Advertiser Disclosure: Many of the credit card offers that appear on this site are from credit card companies from which we receive compensation. Getting a Netspend card is relatively easy as theres no credit check involvedonly a verification of identity. You can also get your tax refund deposited to your card. See Terms and Conditions. You can also send money to a Netspend account using a traditional bank account if you own one or use PayPal, the online payment service. You can use your bank debit cards, savings, or checking account balances to load funds to the card. PayPal also provides a convenient way to link your Netspend cards and put money directly to the prepaid cards. However, the credit card information that we publish has been written by experts who know these products inside out, and what we recommend is what we would (or already) use ourselves. WebNetspend | A Better Way to Bank - Get your Netspend Visa Prepaid Debit Card now! Another great prepaid card that offers rewards is the American Express Serve Cash Back card. NetSpend Visa Prepaid Card at NetSpend's secure website PREPAID RATING 4.8 OVERALL RATING 3.5/5.0 Our Review With Netspend Direct Deposit, you can get paid faster than a paper check. No The Netspend Prepaid Mastercard may be used everywhere Debit Mastercard is accepted. Netspend is a leading provider of FDIC-insured Visa Prepaid, Prepaid Mastercard, and corporate prepaid card solutions through our issuing banks in the United States. Add money to the card and it can be used anywhere Debit Mastercard and Visa debit cards are accepted, including online. Reload Locations: Load cash to the card at over 130,000 retailer locations nationwide. Netspend is a service provider to Pathward, N.A. NetSpend is a company with a prepaid debit card that it claims offers a competitive alternative to checking account debit cards, credit cards and cash. The Netspend Prepaid Visa Card offers more features and benefits than most other prepaid debit cards. All other trademarks and service marks belong to their owners. Please note that all calls with the company may be recorded or monitored for quality assurance and training purposes. Please see the back of your Card for its issuing bank. Any and all options, reviews, comments and analyses are the responsibility of the author(s) and not any Advertiser or credit card issuer. Netspend Visa Prepaid Card charges a monthly fee of up to $9.95. There is a signature transaction fee of $1 every time a merchant requires signature-based authentification. Purchases that require entering a pin to validate also come with a $2 fee. How Much Does Netspend Visa Prepaid Card Cost? There is no activation fee. The Netspend Visa Prepaid Card is issued by The Bancorp Bank, MetaBank. All other trademarks and service marks belong to their respective owners. Because of this reality, it makes sense to shop around and see if you can find an even better deal. NetSpend allegedly delayed access to funds either by denying or delaying activation of the card or by blocking the customer from using the card. If i have a EDD debit card with a large amount of money can i transfer to my NetSpend card? The content has not been reviewed, To qualify for a Premier card, you must enroll and receive at least $500 in qualifying direct deposits per calendar month. Netspend cards also have a big disadvantage when compared to credit cards: Your spending activity will not be reported to the major credit-reporting agencies. In addition, they promise tax refunds faster than a paper check.. Netspend cardholders have the option to open a savings account to earn interest on their money. A photo of yourself can help avoid fraudulent use of your card if its ever lost or stolen. With this perk, you get a 24-hour grace period if you overdraft the account. Unlike with credit cards, you cant go into debt using a debit card. Netspend | A Better Way to Bank - Get your Netspend Visa Prepaid Debit Card now! If you continue to use this site we will assume that you are happy with it. Netspend is a global payment company that offers a prepaid debit card, Custom Cards: You can upload your own photo to create a personalized card. But the card comes with hefty fees that can negate the interest you earn. No late fees or interest charges because this is not a credit card. Using the Purchase Cushion, which is optional, could open a user to overdraft fees. Netspend allowed this person to change my pin number without verifying the security questions. It was after contacting the Federal Trade Commission that I got my money back minus $50.00. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). You can use a Netspend card at car rental NetSpend ranks 10th among Debit Card sites. No. During the application, youll need to complete your name, address, date of birth, and your government ID number. Using a Netspend card to pay for a car rental. Consumers havent had the best experiences, with more than 2,400 complaints logged on the BBBs website over the past three years, many of which cite poor customer service. We may validate the information you provide us to ensure we have a reasonable belief of your identity. As a financial technology company, Netspend isnt a bank, but it partners with banks to provide banking services attached to its prepaid cards. Click here to see a list of advertisers that we work with. * Best of all, you get access to online banking, paydays up to 2 days earlier[1] with Direct Deposit, optional high-yield Savings Account[2] and many more features. It includes a Checking Account and an optional Savings Account, which pays interest. These cards only allow you to spend up to the amount of money you load onto the card. The Netspend Prepaid Card works like a traditional debit card, except it doesnt draw funds from a linked checking account. Citizens are receiving these permanent/name embossed Green Dot Debit Cards in the mail. Use it anywhere Debit Mastercard and Visa debit cards are accepted. He is a former litigation attorney in the securities field and the Founding Editor of Forbes Advisor. Your Account is subject to fraud prevention restrictions at any time, with or without notice. No credit checks are required and youll receive your card in the mail within 10 business days (unless you opt for a fast-tracked service). Performance information may have changed since the time of publication. Then later on that day Facebook does what it does best with a targeted ad for NETSPEND. If the Average Daily Balance is more than $2,000.00, the interest rate paid on the portion of the Average Daily Balance which exceeds $2,000.00 will be .49% with an APY of .50%, and the interest paid on the portion of the Average Daily Balance which is $2,000.00 or less will be 5.87%. 180 Maiden Lane, 30th Floor, New York, NY 10038 All Rights Reserved. All rights reserved worldwide. The NetSpend Prepaid MasterCard is issued by The Bancorp Bank, BofI Federal Bank, You might be using an unsupported or outdated browser. I told my story multiple times in the comments. I use to have a Netspend card and they are the worse I ever dealt with. All customers pay a $2.95 fee for ATM use. Transaction fees, terms, and conditions apply to the use and reloading of the Card Account. So Netspend cardholders will only benefit from this reduced monthly rate if they receive direct deposits of $500 or more every month. The Chime Visa Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. He lives in Denver, Colorado. Card accounts can be opened with a quick and easy sign-up form, and the vetting process does not perform a credit check on the individual. 2022, National Debt Relief, All Rights Reserved. Fees: For those looking for a virtually free prepaid debit card, Bluebird by American Express comes the closest. Cardholders even have access to a high yield savings account, offering favorable interest rates of up to 4.91%. Netspend also states that direct deposits can mean that your money is available up to 2 days quicker than standard transfers, and most definitely quicker than waiting to receive a check in the mail. Netspend is a prepaid debit card that also offers the perk of a bank savings App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC. Netspend issues three different prepaid debit cards: Visa Prepaid Card Prepaid Mastercard Small Business Prepaid Mastercard Account There are several benefits to having a Netspend Prepaid online account. From the Move Money menu, select Mobile Check Load, and you can take a photo of your check to upload and follow the on-screen instructions. Share the good news about your Netspend Prepaid Visa card and you can add a bit of extra cash to your balance. The optional Savings Account linked to your All-Access Account is made available to Accountholders through MetaBank and Republic Bank & Trust Company, Members FDIC. All trademarks and brand names belong to their respective owners. Check out NetSpend Card's 15 second TV commercial, 'Early Paydays: No Monthly Fees' from Once you receive your card, you need will need to verify your identity to activate the card. Your financial situation is unique and the products and services we review may not be right for your circumstances. If the Average Daily Balance is more than $2,000.00, the interest rate paid on the portion of the Average Daily Balance which exceeds $2,000.00 will be .49% with an APY of .50%, and the interest paid on the portion of the Average Daily Balance which is $2,000.00 or less will be 5.87%. Using the Netspend prepaid card means paying fees. Use of these trademarks and brand names do not represent endorsement by or association with this card program. Netspend gives customers a $10 purchase cushion in case customers unexpectedly fall into the negative. With Direct Deposit, you can get paid faster than a paper check. That was that --- she's been gallivanting around the globe ever since (26 countries & counting)! Upgraded Points, LLC uses reasonable efforts to maintain accurate information on the site and p. rior to applying for any credit card offers found on UpgradedPoints.com, all visitors should review other features of such credit cards including but not limited to interest rates, annual fees and transaction fees, and should determine the suitability of such credit cards considering their own individual financial position. 2. Email needed if you'd like comment updates. Terms apply to offers below. We'd love to hear from you, please enter your comments. Netspend customers may transfer and receive money to other Netspend cardholders and ACE Elite, Control, and Purpose cardholders. No Overdraft Fees on purchases using your card. *Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month. The Chime Visa Credit Builder Card is issued by Stride Bank pursuant to a license from Visa U.S.A. Inc. Debit card and Credit card may be used everywhere Visa debit and credit cards are accepted. Chris Kissell has been a writer and editor for more than two decades. Transferring money between the card and savings account is easy and can be done up to 6 times per calendar month. Any and all options, reviews, comments and analyses are the responsibility of the author(s) and not any Advertiser or credit card issuer. Netspend prepaid cards are an alternative to traditional debit cards, albeit an expensive alternative. Netspend offers Visa, Mastercard, and corporate prepaid debit cards. The Netspend Visa Prepaid Card may be used everywhere Visa debit cards are accepted. Netspend All-Access is a deposit account that is offered by Republic Bank & Trust Company, Member FDIC. Also, if your prepaid card is lost or stolen, youre only in danger of losing the funds already loaded onto the card. All rights reserved. Netspend Prepaid Visa Card Review (Rated & Compared) - AllCards.com We value your Withdraw money from an ATM machine or at a cash register. Chime is not a prepaid card, but as a practical matter functions the same way. Eligibility requirements apply.1. Please contact a tax professional to discuss tax consequences of settlement. Thats where Netspend provides flexibility to the cardholder, depending on what their intentions are for the card. Not the card one would want to use. Are you sure you want to rest your choices? Netspend says holding this card allows you to access your paycheck or government benefits more quickly. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Disclaimer:Upgraded Points, LLC and its website, UpgradedPoints.com, provides information on credit cards, reward programs, travel information and ancillary information concerning travel and credit cards. The Forbes Advisor editorial team is independent and objective. This spring, take some time to clean up your digital clutter and get and stay organized. The Netspend Visa Prepaid Card is issued by Pathward, National Association and Republic Bank & Trust Company, pursuant to a license from Visa U.S.A. Inc. The Netspend Prepaid Mastercard may be used everywhere Debit Mastercard is accepted. The downside is that it is an American Express card, which isnt as widely accepted as a Netspend Visa. The maximum value for or a direct deposit or tax refund is $15,000. bank account The prepaid card utilizes funds that the cardholder has, so it does not involve any extended credit and therefore does not impact the cardholders credit score in any way. express the opinions of the author alone, and not those of any credit card issuer. If no bar is displayed for a specific time it means that the service was down and the site was offline. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating. Commissions do not affect our editors' opinions or evaluations. My personal favorite is the Greenlight card, but there are other good teen prepaid options as well. Consider the following benefits and drawbacks to determine if its an option for you. Whether you choose a monthly plan or pay as you go, its nearly impossible to avoid paying expensive fees to use the card. In addition to all the existing services, now you can also use FlashPay Netspend to buy bitcoins in Paxful. financial product comparisons. 2022 Upgraded Points, LLC. Balances of $1,000 or less will receive interest rates of 4.91% with an annual percentage yield (APY) of 5%. Yes, Netspend Prepaid Card is safe to use. NetSpends Account Opening Requirements Unlike credit and debit cards, Netspend does not require a Social Security Number to open an account. A good Netspend prepaid card may serve as a financial examining membership option for increase more than large-observe cash advance in the event the a buyers decides so youre able to (24) MetaBank matches your personal and you can organization banking mode, which have exploring, even offers, loan, debit credit, credit Use the NetSpend Mobile App to manage your account on the go and get text message or email alerts (Message & data rates may apply). Upon successful activation and registration of the Card Account, funds on deposit at Pathward, N.A, Member FDIC, are insured up to the standard maximum deposit insurance limit. Most prepaid debit cards dont offer cash back rewards. 2022 Netspend Corporation. Restrictions include: no ATM withdrawals, international transactions, account-to-account transfers and additional loads. All features and fees are the same as the Visa card and with both accepted widely throughout the U.S. and internationally, the choice really is down to personal preference. While Netspend is not a Theres also a charge of up to $3.95 each time you reload funds onto your card at a Netspend Reload location. Combined with fees that are lower than most checking accounts and an option to forego overdraft coverage, Netspend is one of the best options for a banking alternative or those looking to avoid overdraft fees. Teen Prepaid Cards: If you are looking for a prepaid card for your child, including teenagers, there are much better options. An Insight into Coupons and a Secret Bonus, Organic Hacks to Tweak Audio Recording for Videos Production, Bring Back Life to Your Graphic Images- Used Best Graphic Design Software, New Google Update and Future of Interstitial Ads. However, fees would still apply for ATM withdrawals, cash reloading, and balance inquiries . To qualify, customers must enroll in direct deposits and receive at least $500 per calendar month in payroll or government deposits. But with that access comes expensive fees, from monthly fees to charges per transaction. Netspend offers a Zero Liability protection. Netspend works with most major mobile phone carriers. Netspend can be used anywhere that accepts Visa, including online. Certain products and services may be licensed under U.S. Patent Nos. Netspend, a Global Payments Company, is a registered agent of The Bancorp Bank, MetaBank, N.A., and Republic Bank & Trust Company. Coverage limit is subject to aggregation of all of Cardholders funds held on deposit at Pathward, N.A. As for overall fees, the Netspend prepaid card is one of the lower cost options. Netspend Prepaid Visa cardholders may customize their card with their choice of photo. Purchase Cushion: With the Premier card plan, Netspends purchase cushion may cover you up to $10. https://www.quora.com/How-soon-does-NetSpend-post-a-direct-deposit Answer (1 of 5): They post as soon as they receive it, so it can vary depending on where the deposit is coming from. The average is 2-5 days early. When I spoke to the customer service agent he insisted that I let a friend use the card and I was trying to get my money back. Just keep an eye on those individual fees that could really rack up, especially when on the pay-as-you-go plan. If your identity is partially verified, full use of the Card Account will be restricted, but you may be able to use the Card for in-store purchase transactions. Certain products and services may be licensed under Its also a way to get around expensive fees for cashing checks, where the costs can eat into that monthly paycheck. There are, however, lower cost options (see below). Prepaid debit cards wont improve your credit score, White says. If you'd like to add a comment to this article and share your valuable feedback and opinions, please click here to leave your comment. With payback rewards, Netspend customers can earn cash-back on everyday purchases. Once you receive your card, you will need to verify your identity to activate it. These offers can be specific to certain retailers. You can also move money from the savings account to the card six times each month. Banking services provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. You can also add a paper check to your card by either using your phone and Mobile Check Load or by stopping by one of more than 130,000 reload locations nationwide. FlashPay Netspend enables sending money to and from your prepaid debit card account. Please try again later. Netspend is a financial technology company. Smartphone App: With the Netspend smartphone app you can see your balance and transactions any time. In addition to Forbes, his work has been featured by Bankrate, Fox Business, Slick Deals, and more. This is repaid when funds are loaded back onto the card. You can do this online or by calling 877-973-1223. No responsibility will be taken by the bank advertiser for these comments. He's written about personal finance and investing since 2007 and is the author of the highly acclaimed book, Retire Before Mom and Dad. or Republic Bank & Trust Company. This company sucks. You can search for reload locations here. WebWestern Union Netspend Prepaid Mastercard See Terms Apply now at Netspend's secure site Balance Transfers Intro APR N/A Purchases Intro APR N/A Regular APR N/A Annual Fee Up-to $9.95 monthly* Highlights Highlights Western Union transfers, shop online or pay bills. When deciding between prepaid cards versus debit cards, its often more cost-effective to opt for a debit card thats linked to a free checking account. Try to load money to your card via direct deposits and checks rather than cash loading, which can cost up to $3.95 per reloading fee. The good thing is that each person is allowed to open up a maximum of five Netspend accounts. Theres no credit check and no minimum balance to open an account. You can transfer funds between your Netspend card and the savings account. Its safer and more secure than using cash, and easy to stay on top of your money with simple to use tools like. The Netspend Prepaid Mastercard may be used everywhere Debit Mastercard is accepted. If you choose the pay as you go plan, you wont owe a monthly fee. You can also set up to receive alerts when you are closing to reaching your spending limits. It does charge some fees (e.g., out-of-network ATM withdrawal), but these can generally be avoided. The Netspend Prepaid Visa card is a good option for individuals that need to manage their money, but perhaps have damaged credit scores or simply prefer to not have a bank account. However, with this plan, you will pay domestic purchase transaction fees of $1.95. Inactivity fee (after 90 days with no transactions): $5.95, Netspend also says that it charges seven other types of fees. Because Netspend is not a credit card, they do not check your credit when you apply for the card. Consumers complaining about NetSpend most frequently mention customer service, social security and direct deposit problems. And money transferred to the high-yield savings account is FDIC insured. Well I lost it. Its a bank account built with you mind. SpotMe wont cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. The interest rates and APYs of each tier may change. Instead, you must add, or load, funds onto the card before you can use it to make purchases or withdraw funds from ATMs. The Pew Charitable Trusts, How Are U.S. Consumers Using General Purpose Reloadable Prepaid Cards? Virtual Card Numbers: You can create up to 6 virtual card number for online or over the phone shopping. Customers can create up to 6 virtual card numbers that can be used in place of their permanent card number. Send money directly to members of your family. The APY for this tier will range from 6.00% to .60%, depending on the balance in the account. Certain products and services may be licensed under U.S. Patent Nos. Users can customize alerts, so they are only notified about specific occurrences as often or as little as they like. American Airlines: Coronavirus (COVID-19) Latest Updates Cancellation Policies, Status Changes, Routes, and More, The Netspend Prepaid Visa Card at a Glance, Applying for the Netspend Prepaid Visa Card, How to Load Money to the Netspend Prepaid Visa Card, Managing Money With the Netspend Prepaid Visa Card, (this fee may be lower depending on where and how the card is reloaded), Netspend Prepaid Visa Card Payback Rewards, Other Netspend Prepaid Visa Card Benefits, Netspend Prepaid Visa Card Identity Protection, Other Reward-Based Cards (Our Recommendations), Netspend Prepaid Visa Card vs. Other Prepaid Cards. In addition, as an Amazon Associate we earn from qualifying purchases. In addition, while Netspend offers over 130,000 cash reload locations (placing it well above virtually every other prepaid card), there is a fee for the cash reload. Fees for bank transfers are determined by the transferors bank and may be charged to the transferors bank account by the service provider or originating bank. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on members Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. Arranging direct deposits can save time and effort, cashing a check, and can avoid the risk of losing a check completely everyones worst nightmare. 3. Netspend provides prepaid debit cards, prepaid debit Mastercard and Visa cards, and commercial prepaid cards. Yes. The Netspend Visa Prepaid Cards are issued by Pathward , National Association, Please consult with a bankruptcy attorney for more information on bankruptcy. ABOUT NETSPEND We empower consumers and businesses to be self-banked. This site does not include all available financial companies or offers. Your limit may change at any time, at Chimes discretion. Past performance is not indicative of future results. Customers can use the online location finder to identify their nearest outlet, while also being presented with the applicable reload fee for that location. This compensation comes from two main sources. The app also enables you to deposit checks by snapping a picture of the check. Prepaid cards are a boon for consumers who often have difficulty overspending, says Reilly S. White, Associate Professor of Finance and Assistant Dean of Teaching and Learning at the University of New Mexicos Anderson School of Management. With it being a Mastercard, you are protected Not all debts are eligible for enrollment. The Netspend card is not a credit card. NetSpend has a consumer rating of 1.25 stars from 161 reviews indicating that most customers are generally dissatisfied with their purchases. Card issued by MetaBank N.A., Member FDIC. Share it with friends, then discover more great TV commercials on iSpot.tv. Netspend cardholders are eligible to save up to 50% on prescriptions by claiming their free Pharmacy Savings Card. He is the budgeting and family travel enthusiast behind Family Money Adventure. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Netspend has a handy option for customers that worry about purchasing items from unfamiliar online sites. This compensation may impact how or where links appear on this site. No minimum balance to open Savings Account or obtain the yield(s). Savings Account: Netspend offers an FDIC-insured savings account that pays up to 5.00% APY. Certain products and services may be licensed under U.S. Patent Nos. Our customer service representatives are happy to answer any questions you may have about your Netspend Prepaid Card. Getting a Netspend card gives you an account to use for transactions, including retail and online purchases. If you choose the monthly plan, youll pay a monthly fee. Prepaid cards only allow you to spend money already in your account. Program sponsor: Netspend Corporation. Users can send money to friends and families or transfer money between their accounts using FlashPay Netspend. Others use the reloadable prepaid card to avoid overspending and overdraft fees. WebOur customer service representatives are happy to answer any questions you may have about you NetSpend Prepaid Card. We are not Netspend, so we cannot speak to what delivery service they use when shipping their cards. This site may be compensated through the bank We work hard to *Clients who are able to stay with the program and get all their debt settled realize approximate savings of 46% before fees, or 25% including our fees, over 24 to 48 months. NetSpend is a company with a prepaid debit card that it claims offers a competitive alternative to checking account debit cards, credit cards and cash. Keep an eye on this page to learn about the songs, characters, and celebrities appearing in this TV commercial. I have used netspend for years, but never will again. Send Money: Send and receive money to other Netspend account holders. Netspend Prepaid Visa cards are also available to purchase from the likes of Walmart and CVS Pharmacy, where the retailer charges a fee (usually between $3.95-$9.95). The hefty fees that come with Netspend cards might be their biggest drawback. It charges no monthly fee and offers fee-free overdraft protection up to $200. Once you have received and activated your card, direct deposits are set up in the same way as you would for transfers into a bank account. Fee may be assessed by reload location and may vary from location to location. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. See additional Netspend Visa Prepaid Card details by clicking Apply Now, Get paid up to 2 days faster with Direct Deposit, Direct deposit of paycheck or government benefits check (including tax refunds), Add cash at more than 130,000 Netspend reload locations, Transfer money to the card from a bank account, Transfer money to the card from your PayPal account. If youre a frequent Walmart shopper, then you should consider the Walmart MoneyCard Prepaid Visa Card. Once cardholders have applied for their card, they may use this at SingleCare partner pharmacies. The Netspend card is a reloadable prepaid debit card. The above graph displays service status activity for Netspend.com over the last 10 automatic checks. Whether you qualify for a monthly payment plan or choose to pay as you go, you will pay fees with a prepaid card from Netspend. Featured Image Credit: Strength in numbers! You will receive notice of any changes to your limit. Capital One Venture X Vs. Chase Sapphire Reserve, qualifying for a traditional bank account, Best Savings Accounts For Automated Saving, Best Savings Accounts For Digital Banking, Best Savings Accounts For Customer Experience, Fintech Trends Likely To Stick Around After The Pandemic, How To Protect Your Online Banking Information, Fintech Tools To Help You Master Money Mindfulness, ATM Withdrawal Limits: What You Need To Know, How To Switch Banks: A Step-By-Step Guide, Expensive fees for monthly plans and card usage. 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