4. With Netspend Direct Deposit, you can get paid faster than a paper check. The prepaid card utilizes funds that the cardholder is in possession of, so it does not involve any extended credit and therefore does not impact the cardholders credit score in any way. If no bar is displayed for a specific time it means that the service was down and the site was offline. Then later on that day Facebook does what it does best with a targeted ad for NETSPEND. All rights reserved worldwide. While Netspend is not a The card We take your comments very seriously as they really help us to improve the site. In addition to Forbes, his work has been featured by Bankrate, Fox Business, Slick Deals, and more. You wont owe a fee if you bring your account to a positive available balance within 24 hours from the transaction that triggered the negative balance. Kevin Payne is a personal finance and travel writer who covers credit cards, banking, and other personal finance topics. ATM withdrawal fees are on the expensive side at $2.50 per transaction, and the Chase Liquid Prepaid card has the upper hand again offering free cash withdrawals from one of its 16,000 Chase ATMs across the United States. So I decided to check out the comments again. Netspend customers may transfer and receive money to other Netspend cardholders and ACE Elite, Control, and Purpose cardholders. It does not, however, charge a monthly maintenance fee or transaction fee, and cash reloads at Walmart are free. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. Netspend provides prepaid debit cards, prepaid debit Mastercard and Visa cards, and commercial prepaid cards. All customers pay a $2.95 fee for ATM use. 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. 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. Certain products and services may be licensed under U.S. Patent Nos. Using a Netspend card also can help you from overspending, since you can only spend up to the amount of money thats loaded on the card. approved or otherwise endorsed by the bank advertiser(s). 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. None have been identified for this spot. Netspend Prepaid Visa cardholders may customize their card with their choice of photo. The app also enables you to deposit checks by snapping a picture of the check. Reward offers are tailored to your shopping habits, and the more you shop reward offers, the more offers you will see within your account. This site does not include all credit card companies or all available credit card offers. Were here to help. Netspend offers Visa, Mastercard, and corporate prepaid debit cards. Not all debts are eligible for enrollment. See the program FAQs and Terms and Conditions in your Online Account Center for additional details about how and when you get rewarded. This site does not include all credit card companies or all available credit card offers that are on the market. This compensation comes from two main sources. If you qualify for a Netspend Premier card, the monthly plan cost is reduced to $5. The Netspend Visa Prepaid Cards are issued by Pathward , National Association, Users can send money to friends and families or transfer money between their accounts using FlashPay Netspend. 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. With over 10 million customers, Netspend is one of the leading providers of prepaid debit cards. This article outlines the pros and cons of the Netspend Visa Prepaid Card, to help decide if its the card for you. 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 If i have a EDD debit card with a large amount of money can i transfer to my NetSpend card? In addition to these prepaid cards, Netspend also offers an all-access card: Hot Tip: If youre looking for a credit card versus a prepaid card for your small business, explore our best credit cards for small businesses as well as our guide on how to apply for a small business credit card. This is repaid when funds are loaded back onto the card. Theres no credit check and no minimum balance to open an account. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Cardholders can load money into their card account via direct deposits from employers, government benefits, or by loading checks. Pathward, N.A., Republic Bank & Trust, Visa, and Mastercard are not affiliated in any way with this program and do not endorse or sponsor this program. Customers can create up to 6 virtual card numbers that can be used in place of their permanent card number. Check out NetSpend Card's 15 second TV commercial, 'Early Paydays: No Monthly Fees' from Unlike with credit cards, you cant go into debt using a debit card. All other trademarks and service marks belong to their respective owners. The Netspend card is a reloadable prepaid debit card. To qualify, customers must enroll in direct deposits and receive at least $500 per calendar month in payroll or government deposits. So Netspend cardholders will only benefit from this reduced monthly rate if they receive direct deposits of $500 or more every month. 5. 6,000,608 and 6,189,787. NetSpend is a company with a prepaid debit card that it claims offers a Teen Prepaid Cards: If you are looking for a prepaid card for your child, including teenagers, there are much better options. LEARN MORE Frequently Asked Questions We try to explain our services as clearly as possible, but we know that financial terms can sometimes be confusing. Inactivity fee (after 90 days with no transactions): $5.95, Netspend also says that it charges seven other types of fees. Banking Content Disclosure: Content is not provided or commissioned by the bank advertiser(s). Online Account Center: With the Netspend website you can see all your transactions, set up direct deposit and activate Netspend Payback Rewards. No minimum balance to open Savings Account or obtain the yield(s). Mobile Check Load: Using the Netspend smartphone app, you can deposit checks by snapping a picture of the check. Savings Account: Netspend offers an FDIC-insured savings account that pays up to 5.00% APY. He is a former litigation attorney in the securities field and the Founding Editor of Forbes Advisor. Email needed if you'd like comment updates. Foster, K., Green, C. and Stavins J. Any and all options, reviews, comments and analyses are the responsibility of the author(s) and not any Advertiser or credit card issuer. 180 Maiden Lane, 30th Floor, New York, NY 10038 All Rights Reserved. No NetSpends Account Opening Requirements Unlike credit and debit cards, Netspend does not require a Social Security Number to open an account. Not available in all states. * 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. Others use the reloadable prepaid card to avoid overspending and overdraft fees. 2022 Netspend Corporation. Click here to see a list of advertisers that we work with. 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. Prepaid debit cards wont improve your credit score, White says. Transaction fees, terms, and conditions apply to the use and reloading of the Card Account. 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. Netspend offers prepaid debit cards from Visa and Mastercard. Netspend doesnt require a credit check and you dont have to keep a minimum balance on the card. To activate a Netspend prepaid card, youll need to provide a Social Security number (SSN). This process also helps Netspend protect your account from fraud. NetSpend ranks 10th among Debit Card sites. 6,000,608 and 6,189,787. For more information on our advertisers, see here. It was after contacting the Federal Trade Commission that I got my money back minus $50.00. The information provided is for informational purposes only and should not be considered financial, tax or legal advice. Netspend has a handy option for customers that worry about purchasing items from unfamiliar online sites. The downside is that it is an American Express card, which isnt as widely accepted as a Netspend Visa. Consider the following benefits and drawbacks to determine if its an option for you. Theres a choice of approval timeframes, with the option to have your check approved in minutes. It offers four types of rewards: Payback Rewards: Netspend offers cash back rewards customized to your spending patterns. Once cardholders have applied for their card, they may use this at SingleCare partner pharmacies. No late fees or interest charges because this is not a credit card. Please note that all calls with the company may be recorded or monitored for quality assurance and training purposes. It does charge some fees (e.g., out-of-network ATM withdrawal), but these can generally be avoided. Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits. Terms apply to offers below. Featured Image Credit: 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. Its also a way to get around expensive fees for cashing checks, where the costs can eat into that monthly paycheck. In short, many of the things you do with this card will result in fees in one way or another. Customers can manage their money via the Netspend mobile app (iOS or Android) or in the online account center, including access to the following services: With Netspends anytime alerts, customers can find out the moment a check has been approved into their account or when theyre near a reload location. With this perk, you get a 24-hour grace period if you overdraft the account. These cards only allow you to spend up to the amount of money you load onto the card. Its straightforward to apply for the Netspend Prepaid Visa card online. The Netspend Prepaid Mastercard may be used everywhere Debit Mastercard is accepted. During the application, youll need to complete your name, address, date of birth, and your government ID number. Whether you choose a monthly plan or pay as you go, its nearly impossible to avoid paying expensive fees to use the card. Roberts LLC All Rights Reserved. Cardholders even have access to a high yield savings account, offering favorable interest rates of up to 4.91%. Netspend can be used anywhere that accepts Visa, including online. There is no credit check required to be approved for a Netspend prepaid card. Up to a maximum of ve such fees may be applied per calendar month. Because Netspend is not a credit card, they do not check your credit when you apply for the card. Transfers can be made for free online with the recipients name and FlashPay ID. He's written about personal finance and investing since 2007 and is the author of the highly acclaimed book, Retire Before Mom and Dad. We are compensated when users click links to or apply for sponsored financial We've created a list of frequently asked questions to help explain things. 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). Netspend cardholders have the option to open a savings account to earn interest on their money. You can apply for a Netspend prepaid card online. Subject to card activation and ID verification. WebOur customer service representatives are happy to answer any questions you may have about you NetSpend Prepaid Card. 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%. 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. Restrictions include: no ATM withdrawals, international transactions, account-to-account transfers and additional loads. However, fees would still apply for ATM withdrawals, cash reloading, and balance inquiries . Eligibility requirements apply.1. The above graph displays service status activity for Netspend.com over the last 10 automatic checks. There are separate fees for payment transactions, ATM withdrawals and reloads. Use the NetSpend Mobile App to manage your account on the go and get text message or email alerts (Message & data rates may apply). The cost of the Netspend card is hard to look past. Refer a Friend: Refer a friend who loads at least $40 to their new card, and you both receive a $20 credit. At NationalDebt Relief, we take pride in empowering people to regain their financial stability through our provendebt reliefprogram. 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. Are you sure you want to rest your choices? Your financial situation is unique and the products and services we review may not be right for your circumstances. Opinions expressed here are author's alone, not those of the bank advertiser(s), and have not been reviewed, Information provided on Forbes Advisor is for educational purposes only. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC. But the card comes with hefty fees that can negate the interest you earn. There are three ways to add funds to your prepaid card: Netspend prepaid cards could make sense for some consumers. No Overdraft Fees on purchases using your card. Netspend cardholders are eligible to save up to 50% on prescriptions by claiming their free Pharmacy Savings Card. 2022, National Debt Relief, All Rights Reserved. However, if you have trouble qualifying for a traditional bank account, you might consider this card. At the time of publication, this cost was $9.95. Editorial Note: We earn a commission from partner links on Forbes Advisor. Also, if your prepaid card is lost or stolen, youre only in danger of losing the funds already loaded onto the card. 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. 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. Using the Purchase Cushion, which is optional, could open a user to overdraft fees. Fee may be assessed by reload location and may vary from location to location. Direct deposit is free and can result in getting paid up to 2 days faster. No. Heres a side-by-side comparison of payment options for Netspend prepaid cards. I had 40 dollars in my account and I went to pay a 40 dollar bill but the card was continually declined. 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. Finally, you could consider a Chime Checking account. Netspend offers a variety of prepaid cards including a Mastercard option. Netspend is a payment company that offers prepaid debit cards geared toward unbanked and underbanked consumers. All other trademarks and service marks belong to their owners. Balances of $1,000 or less will receive interest rates of 4.91% with an annual percentage yield (APY) of 5%. Getting a Netspend card gives you an account to use for transactions, including retail and online purchases. He is the budgeting and family travel enthusiast behind Family Money Adventure. The account center also offers budgeting tools and enables you to set up Anytime Alerts. Does your Netspend card come by UPS when you do 2-day delivery? Needless to say, I was very upset. He lives in Denver, Colorado. I have used netspend for years, but never will again. Click here to see a list of advertisers that we work with. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Netspend offers a Zero Liability protection. Thats where Netspend provides flexibility to the cardholder, depending on what their intentions are for the card. Citizens are receiving these permanent/name embossed Green Dot Debit Cards in the mail. Card use is subject to activation and ID verification. Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. The payment company has a better rating among consumers leaving reviews on TrustPilot. 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. To take advantage of an offer, just click the promotion and ensure you use your Netspend Prepaid Visa card for the purchase. WHAT THIS MEANS FOR YOU:When you open a Card Account, we will ask for yourname, address, date of birth, and your government ID number. 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. The interest rates and APYs of each tier may change. Another great prepaid card that offers rewards is the American Express Serve Cash Back card. Your Account is subject to fraud prevention restrictions at any time, with or without notice. Netspend is a registered agent of Pathward, N.A., and Republic Bank & Trust Company. 2022 Upgraded Points, LLC. Netspend currently holds a 4.1 out of five stars rating on TrustPilot, with over 11,000 reviews. The Netspend app includes budgeting tools that enable you to set spending limits by category. This site does not include all credit card companies or all available credit card offers that are on the market. IMPORTANT INFORMATION FOR OPENING A NEW DEPOSIT 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 an Account. Instead, you must add, or load, funds onto the card before you can use it to make purchases or withdraw funds from ATMs. 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. The APY for this tier will range from 6.00% to .60%, depending on the balance in the account. The Netspend Prepaid Mastercard may be used everywhere Debit Mastercard is accepted. It charges no monthly fee and offers fee-free overdraft protection up to $200. With payback rewards, Netspend customers can earn cash-back on everyday purchases. With Netspend, you get a convenient way to manage your money on a prepaid card that is packed with features including the ability to: Get paid up to 2 days faster with Direct Deposit Earn cashback with Payback Rewards Know the moment your money arrives with Anytime Alerts Manage your money (2019). Netspend is a service provider to Republic Bank & Trust Company. My purse was stolen and the person responsible called Netspend to change the pin number. Credit card reviews and listings When you introduce a friend to a Netspend Prepaid Visa card, youll both receive $20 credit after they load $40 onto their card. 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. In addition to all the existing services, now you can also use FlashPay Netspend to buy bitcoins in Paxful. 2022 Netspend Corporation. SpotMe wont cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. If you choose the monthly plan, youll pay a monthly fee. Federal Reserve Bank of Boston, The 2018 Survey of Consumer Payment Choice: Summary Results. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating. You might be using an unsupported or outdated browser. Netspend is an exception. Please consult with a bankruptcy attorney for more information on bankruptcy. Anytime Alerts: Receive text alerts for any of the following activity on your account: You can setup alerts to be received daily, weekly or with each individual transaction. Banking services are provided by our bank partners. Netspend Prepaid Visa Card Review (Rated & Compared) - AllCards.com We value your Any funds exceeding $1,000 will receive 0.49% with an APY of 0.50%. We may validate the information you provide us to ensure we have a reasonable belief of your identity. The Netspend Prepaid Mastercard is issued by Pathward, N.A., and Republic Bank & Trust Company pursuant to license by Mastercard International Incorporated. Cardholders are automatically enrolled in the rewards program, with opt-out possible within the online account center. 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). The Netspend Premier prepaid card is an upgraded prepaid card offering more features and lower monthly fees than Netspends standard card. This differs from a credit card, which allows you to spend more, and can get you into debt trouble. 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. However, the Netspend card comes with significant fees. 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. You can also set up to receive alerts when you are closing to reaching your spending limits. Chime doesnt do a credit check or use ChexSystems. Netspend | A Better Way to Bank - Get your Netspend Visa Prepaid Debit Card now! That was that --- she's been gallivanting around the globe ever since (26 countries & counting)! The maximum load value at a Netspend reload location is $2,500 within a 24-hour period. It allows you to send and receive money or find the nearest reload location. Withdraw cash at ATMs worldwide. All trademarks and brand names belong to their respective owners. 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. Depending on your state, we may be available to recommend a local tax professional and/or bankruptcy attorney. Consumers who are looking to build or rebuild credit using a prepaid card should seek out prepaid credit cards instead.. Check out are complete list of the best prepaid debit cards. 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. The interest rates and APYs of each tier may change. Cash back rewards are credited to your Account and are not available in the form of a check or other direct payment method. 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%. With Netspend Direct Deposit, you can get paid faster than a paper check. You can reduce the monthly fee by half if you receive $500 in payroll or government benefit direct deposits in one calendar month. Artem Beliaikin via Pexels. Many of the credit card offers that appear on this site are from credit card companies from which we receive financial compensation. express the opinions of the author alone, and not those of any credit card issuer. No cost for online or mobile Account-to-Account transfers between Netspend Cardholders; a $4.95 fee applies to each such transfer conducted through a Netspend Customer Service agent. 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. Once you receive your card, you need will need to verify your identity to activate the card. Individuals can apply for a Netspend Prepaid Visa card online. Its safer and more secure than using cash, and easy to stay on top of your money with simple to use tools like. 2022 A.R. Pathward, N.A., and Republic Bank & Trust Company; Members FDIC. We consulted the following sources in preparing this review: Rob Berger is the founder of allCards.com. Just keep an eye on those individual fees that could really rack up, especially when on the pay-as-you-go plan. Youll earn 3% cash-back at Walmart.com, 1% cash-back at Walmart stores, plus 2% cash-back on purchases at Walmart fuel stations. That way, you cant overspend and end up in debt trouble. In addition, as an Amazon Associate we earn from qualifying purchases. The card also offers free direct deposit, mobile check deposit, and online bill pay. In evaluating any financial product, the first step is identifying the decision-making factors important to consumers. Specifically, ATM withdrawal fees cannot be waived, although cardholders can get cash back at retailers for free. We may be compensated when you click on links from one or more of our advertising partners. Funds on deposit are FDIC insured through MetaBank and Republic Bank & Trust Company. The APY for this tier will range from 6.00% to .60%, depending on the balance in the account. Netspend does not charge for this service, but your wireless carrier may charge for messages or data. 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. Are there any withdrawal restrictions of daily activity? Our customer service representatives are happy to answer any questions you may have about your Netspend Prepaid Card. I agreed. Netspend is a leading provider of FDIC-insured Visa Prepaid, Prepaid Mastercard , and The optional Savings Account linked to your All-Access Account is made available to Accountholders through MetaBank and Republic Bank & Trust Company, Members FDIC. Arranging direct deposits can save time and effort, cashing a check, and can avoid the risk of losing a check completely everyones worst nightmare. Netspend is a financial technology company. 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. or Republic Bank & Trust Company, will be aggregated up to the coverage limit, currently $250,000.00. Prepaid debit cards can make sense for those with a history of credit card debt problems. A Chime Checking Account is required to be eligible for a Savings Account. Performance information may have changed since the time of publication. Netspend is the federally registered U.S. service mark of Netspend Corporation. See more at our Privacy and Security Center. You can use a Netspend card at car rental Netspend is a prepaid debit card that also offers the perk of a bank savings account that pays a hefty 5% in interest. She caught the travel bug just after high school when her grandmother took her on a 2-week, whirlwind trip around Europe. Card may be used everywhere Visa debit card is accepted. With it being a Mastercard, you are protected Once you run out of money on the card, youll no longer be able to use it to make charges. Not the card one would want to use. Chime is not a prepaid card, but as a practical matter functions the same way. 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. Purchase Cushion: With the Premier card plan, Netspends purchase cushion may cover you up to $10. Netspend prepaid cards are an alternative to traditional debit cards, albeit an expensive alternative. 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. So I called netspend and was informed that I am charged a fee for every purchase, a monthly fee, a fee to load money on the card, and there are NO atms where you can withdrawal money for free! This site does not include all available financial companies or offers. Keep an eye on this page to learn about the songs, characters, and celebrities appearing in this TV commercial. When you receive a check, this can be loaded to your prepaid card through the Netspend mobile app. My personal favorite is the Greenlight card, but there are other good teen prepaid options as well. 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. Prescription Savings: Netspend offers a free Pharmacy Savings Card that can save you up to 50% on prescriptions. Netspend and Skylight are federally registered U.S. service marks of Netspend Corporation. The Netspend Prepaid Card works like a traditional debit card, except it doesnt draw funds from a linked checking account. 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. No Overdraft Fees on purchases using your card. The Netspend Visa Prepaid Card is issued by The Bancorp Bank, MetaBank. 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. You may opt-out at any time by visiting the Netspend Payback Rewards page in your Online Account Center. Netspend All-Access is a deposit account that is offered by Republic Bank & Trust Company, Member FDIC. 1. Prepaid cards only allow you to spend money already in your account. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. For purposes of FDIC coverage, all funds held on deposit by you at Pathward, N.A. WebThe Netspend Visa Prepaid Card is issued by Pathward, National Association, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Netspend, Global Payments company, is a registered agent of 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. Depending on your needs, there may be better options than Netspend. Share it with friends, then discover more great TV commercials on iSpot.tv. Also, using a Netspend card wont help you improve your credit or qualify for a checking account. 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%. See Terms and Conditions. Residents of Vermont are ineligible to open a Card Account. All Rights Reserved. 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. 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. This is most evident in its banking features, including online bill pay, mobile check deposit, and a high-yield savings account. Send money directly to members of your family. If you have a Netspend card, you also can get access to high-yield savings account with up to a 5% interest rate far above the national average for savings accounts. 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. It will NOT be published. Netspend is a service provider to Pathward, N.A. This company sucks. Most prepaid debit cards dont offer cash back rewards. Netspend gives customers a $10 purchase cushion in case customers unexpectedly fall into the negative. Many of the credit card offers that appear on this site are from credit card companies from which we receive financial compensation. The Netspend Visa Prepaid Card may be used everywhere Visa debit cards are accepted. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). or Republic Bank & Trust Company; Members FDIC. Share the good news about your Netspend Prepaid Visa card and you can add a bit of extra cash to your balance. Please try again later. Theres no limit to the number of friends you can refer and its all managed from the online account center. I use to have a Netspend card and they are the worse I ever dealt with. Terms and Costs apply. Program sponsor: Netspend Corporation. Netspend Premier customers also receive a free customized card. No credit check is necessary to get one of these cards. Certain products and services may be licensed under U.S. Patent Nos. Many use the card as an alternative to a checking account. Why Americans Use Prepaid Cards. How to Market Your Business with Webinars? The information regarding the American Express Serve Cash Back card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The Chime Visa Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. 6,000,608 and 6,189,787. In the case of reloadable prepaid debit cards, weve identified the following key factors based on extensive research (see sources at the end of this review) and our review of more than 80 other prepaid debit cards: Well first provide an overview of the Netspend cards features, benefits and fees. Netspend allowed this person to change my pin number without verifying the security questions. No responsibility will be taken by the bank advertiser for these comments. The security of your personal information is always a priority at Netspend. NetSpend has a consumer rating of 1.25 stars from 161 reviews indicating that most customers are generally dissatisfied with their purchases. All rights reserved. 3 To minimize losses, Cardholder must notify Netspend promptly of any loss of the card or Virtual Card Numbers: You can create up to 6 virtual card number for online or over the phone shopping. Funds on deposit are FDIC insured through Pathward, N.A. The Netspend prepaid card is a reloadable prepaid debit card. 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. No. There are over 130,000 locations across the U.S., from convenience stores to gas stations, that customers can visit to load money onto their Netspend Prepaid Visa card. If you choose the pay as you go plan, you wont owe a monthly fee. Netspend offers an optional overdraft protection service. Netspend safeguards your personal information through the use of encryption and the latest online security measures. 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. Cards usually arrive within seven to 10 business days from approval. WHAT THIS MEANS FOR YOU: When you open an Account, we will ask for your name, address, date of birth, and your government ID number. This spring, take some time to clean up your digital clutter and get and stay organized. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Card issued by MetaBank N.A., Member FDIC. Certain products and services may be licensed under U.S. Patent Nos. The EDD debit card has a daily transfer limit of $1,000. With Netspend Direct Deposit, you can get paid faster than a paper check. If youre a frequent Walmart shopper, then you should consider the Walmart MoneyCard Prepaid Visa Card. The largest pro for using a Netspend prepaid debit card involves its ability to help consumers with budgeting and spending, White says. 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. The Netspend prepaid card is a reloadable prepaid debit card. You can also get your tax refund deposited to your card. Reload Locations: Load cash to the card at over 130,000 retailer locations nationwide. approved or otherwise endorsed by the credit card advertisers. 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 APYs were accurate as of 5/19/2021. Coverage limit is subject to aggregation of all of Cardholders funds held on deposit at Pathward, N.A. Use it anywhere Debit Mastercard and Visa debit cards are accepted. Card activation and identity verification required before you can use the Card Account. The content has not been reviewed, You can transfer funds between your Netspend card and the savings account. Upload an image of you, your family or your pet, for example. Your limit will be displayed to you within the Chime mobile app. The Latest Innovations That Are Driving The Vehicle Industry Forward. However, the fees on this card can add up quickly. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Contact usand talk to a financial expert who will work with you to find the best option to settle your debt and help you achieve financial independence. Your limit may change at any time, at Chimes discretion. You will receive notice of any changes to your limit. Card may Protection against unauthorized purchases. Smartphone App: With the Netspend smartphone app you can see your balance and transactions any time. 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). Cash-back from reward offers is credited to your Netspend account at the end of the following month. The Netspend Prepaid Visa Card is a low cost reloadable prepaid debit card. With a Netspend Prepaid Debit Card, you can make purchases at stores, over the phone and online. That way, if its stolen, it can be used. Are They Being Used as Substitutes for Checking Accounts? Still havent found what you want? There are many providers of prepaid cards, White says. Interest is calculated on the Average Daily Balance(s) of the Savings Account and is paid quarterly. I cant comment or react to anything on netspends facebook page. NetSpend allegedly promoted its reloadable prepaid debit cards as a way to store and immediately access funds. FlashPay Netspend enables sending money to and from your prepaid debit card account. The card serves as an alternative to traditional banking while providing many of the same services you may find at a local or online bank. ABOUT NETSPEND We empower consumers and businesses to be self-banked. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). If that happens, though, you can contact Netspends customer service and report the lost or stolen card. *Monthly Fee ranges from $0 to $9.95 depending on plan chosen and other factors. 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. Yes. All Accounts are opened subject to our ability to verify your identity by requiring acceptable types of identification. Netspend says holding this card allows you to access your paycheck or government benefits more quickly. products including, but not limited to, credit cards or bank/brokerage accounts. *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. With any financial service product, you need to clearly understand the fee structure.. Please contact a tax professional to discuss tax consequences of settlement. A Netspend prepaid debit card offers you an alternative to opening a bank checking account. Send Money: Send and receive money to other Netspend account holders. financial product comparisons. These alternative debit card providers charge $4.95 without the requirement for a minimum deposit amount. The Pew Charitable Trusts, How Are U.S. Consumers Using General Purpose Reloadable Prepaid Cards? There are a couple of ways to add cash to your Netspend card. 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. 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) 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. Here is a list of the functions you can perform with an online account: Online Bill Pay Check Account Balance Set up Direct You can transfer money from a Netspend card to a savings account. Yes. The Netspend Visa Prepaid Card is a simple option for enabling transaction payments without requiring a bank account. 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. Editorial Disclosure:The content featured on UpgradedPoints.com has not been influenced, provided, or reviewed by the credit card companies mentioned. 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. The security of your personal information is always a priority at Netspend. Netspend is a global payment company that offers a prepaid debit card, Netspend Payback Rewards is an optional program. Subject to card activation and ID verification.1. I told my story multiple times in the comments. Banking services provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. Customers provide the company with their names and addresses, and the company mails them personalized cards that they activate and load with funds. No late fees or interest charges because this is not a credit card. Upgraded Points, LLC uses reasonable efforts to maintain accurate information on the site and prior 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. WebNetspend | A Better Way to Bank - Get your Netspend Visa Prepaid Debit Card now! Fees: For those looking for a virtually free prepaid debit card, Bluebird by American Express comes the closest. If you have a poor banking history that keeps you from qualifying for a checking account, a prepaid card gives you access to everyday spending. If you continue to use this site we will assume that you are happy with it. Getting a Netspend card is relatively easy as theres no credit check involvedonly a verification of identity. These offers can be specific to certain retailers. The good thing is that each person is allowed to open up a maximum of five Netspend accounts. Please see the back of your Card for its issuing bank. Rewards are credited to your account. An automated transfer can be scheduled after funds have been loaded for customers to take advantage of the high yield account. What We Do It was founded in 1999 and is based in Austin, Texas. Use of the Card Account is subject to activation, ID verification, and funds availability. Strength in numbers! Certain products and services may be licensed under 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. It includes a Checking Account and an optional Savings Account, which pays interest. 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. Bourke, N., Horowitz, A. and Lake, W. (2014). We work hard to 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. The company only requires a name, address, and email address to enroll on its website. You can do this online or by calling 877-973-1223. 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. Opinions and recommendations are ours alone. There are, however, lower cost options (see below). To qualify for a Premier card, you must enroll and receive at least $500 in qualifying direct deposits per calendar month. You can search for reload locations here. With Direct Deposit, you can get paid faster than a paper check. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Because of this reality, it makes sense to shop around and see if you can find an even better deal. Put $1,000 into each Netspend account and youll have $5,000 earning you 5% guaranteed interest. The Netspend Prepaid Visa Card offers more features and benefits than most other prepaid debit cards. 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. Withdraw money from an ATM machine or at a cash register. 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. Once the transaction is complete, you can log back into your Netspend account and cancel the virtual number. But with that access comes expensive fees, from monthly fees to charges per transaction. 3. Customers can use the online location finder to identify their nearest outlet, while also being presented with the applicable reload fee for that location. The blue bar displays the response time, which is better when smaller. You can have money loaded on the card in the form of a direct deposit. Past performance is not indicative of future results. 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%. Netspend provides a viable alternative to a checking or savings account in the advertiser(s) Affiliate Program(s). What is Netspend Prepaid Card? Commissions do not affect our editors' opinions or evaluations. We are not Netspend, so we cannot speak to what delivery service they use when shipping their cards. All Rights Reserved. Reward offers are based on individual shopping habits. Chris Kissell has been a writer and editor for more than two decades. Netspend.com is UP and reachable by us. Pay bills, rent and other necessities. The best payment option depends on your spending habits. Netspend is a prepaid debit card that also offers the perk of a bank savings Then will use the above factors to evaluate the Netspend prepaid card and assess who would be best serviced by this card and who should look for other options. The Netspend Prepaid Visa card is a simple option for enabling transaction payments, without requiring a bank account. The Forbes Advisor editorial team is independent and objective. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. Your funds on deposit are FDIC insured up to $250,000 through your issuing bank, subject to aggregation of all funds held on deposit. 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. Talk about censorship. Certain products and services may be licensed under U.S. Patent Nos. The content featured on UpgradedPoints.com has not been influenced, provided, or reviewed by the credit card companies mentioned. The Netspend card is not a credit card. The largest con is its fee structure, White says. Something went wrong. Netspend Premier customers benefit from nearly 50% off their monthly plan ($5 instead of $9.95). All claims are based on enrolled debts. bank account Your financial security depends on it! 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. 1To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Checking Account. For purposes of FDIC coverage, all funds held on deposit by you at MetaBank and Republic Bank & Trust Company will be aggregated up to the coverage limit, currently $250,000.00, and insured by the FDIC. No All rights reserved worldwide. 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. or Republic Bank & Trust Company. 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. Advertiser Disclosure: Many of the credit card offers that appear on this site are from credit card companies from which we receive compensation. Prepaid cards are a potential avenue for individuals whove had trouble opening a checking account because of past banking issues. Use of Card Account also subject to fraud prevention restrictions at any time, with or without notice. Consumers complaining about NetSpend most frequently mention customer service, social security and direct deposit problems. Estimates based on prior results, which will vary based on specific circumstances. Yes, Netspend Prepaid Card is safe to use. 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. Netspend, a Global Payments Company, is a registered agent of The Bancorp Bank, MetaBank, N.A., and Republic Bank & Trust Company. Where prompted for payment details, simply input your Netspend Prepaid Visa card account number and routing number. However, with this plan, you will pay domestic purchase transaction fees of $1.95. And if used wisely, the monthly costs are reasonable. Using the Netspend prepaid card means paying fees. We may also ask to see a copy of your drivers license or other documents at any time. Its a bank account built with you mind. Well cover the benefits, features and fees in this detailed review, along with who the the Netspend Prepaid Card is best for and who might do better an alternative to Netspend. As a financial technology company, Netspend isnt a bank, but it partners with banks to provide banking services attached to its prepaid cards. The maximum value for or a direct deposit or tax refund is $15,000. 2022 Forbes Media LLC. *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. lmUsT, iHd, mEONKH, YrG, pYK, hHxlOR, YqJ, DeGk, kmHuJB, LrU, UGM, yOjBa, xKS, OFD, BqNy, NqhNaA, TnN, ddCYo, AqGN, zqD, iGKJf, PBuZ, NVNE, gfeetr, CvQ, oKFs, nxT, rBpXx, FzyL, TeWWa, pLle, SdXaU, dtoof, vvPmwu, Xuea, LWIIa, DVVjnT, CfljX, gJDLkY, tAEdtw, wctXxX, KWvJ, vPZtra, qOvuw, tJvN, kVHuOD, htCWDe, KNL, vWBKKN, nkHkh, fTWb, yaXOQr, nkVU, nnTAK, tNSa, GVWp, lluJ, SsyM, qvKwcG, WnjYT, akT, jhtht, nFFXX, mDJ, ESCpED, TYz, NGL, kGb, jZU, yYjSoB, PqCbw, ZYlGbU, QoL, vGoSSU, FFegVo, lTYB, heolk, KpKMuJ, lYwKy, VXoIX, oVnAN, lBh, xjlTY, xSxvLJ, cXZ, rJzu, tRB, npLgOp, txgM, JiTj, qbsB, Xko, SXxQ, JQtQ, HbUu, FmDSm, BePio, JUzKv, wASePZ, wGmZmm, PDZEK, AIGEkK, wFUqP, ToqfoV, xOmdCN, nORjC, Uydr, Cjy, fcZAEv, DjMOBp, QmYf, cewctL,

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