Netspend allowed this person to change my pin number without verifying the security questions. Editorial Disclosure:The content featured on UpgradedPoints.com has not been influenced, provided, or reviewed by the credit card companies mentioned. The good thing is that each person is allowed to open up a maximum of five Netspend accounts. Program sponsor: Netspend Corporation. 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. Direct deposit is free and can result in getting paid up to 2 days faster. 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. Please see the back of your Card for its issuing bank. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. All claims are based on enrolled debts. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Use of Card Account also subject to fraud prevention restrictions at any time, with or without notice. It offers four types of rewards: Payback Rewards: Netspend offers cash back rewards customized to your spending patterns. 1. The Netspend card is not a credit card. 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. 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. This site does not include all credit card companies or all available credit card offers that are on the market. 3. In addition to Forbes, his work has been featured by Bankrate, Fox Business, Slick Deals, and more. Not available in all states. In addition, they promise tax refunds faster than a paper check.. Card activation and identity verification required before you can use the Card Account. Click here to see a list of advertisers that we work with. Protection against unauthorized purchases. There are three ways to add funds to your prepaid card: Netspend prepaid cards could make sense for some consumers. Prepaid Debit 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. Are there any withdrawal restrictions of daily activity? Performance information may have changed since the time of publication. Credit card reviews and listings Netspend has a handy option for customers that worry about purchasing items from unfamiliar online sites. Certain products and services may be licensed under U.S. Patent Nos. The Pew Charitable Trusts, How Are U.S. Consumers Using General Purpose Reloadable Prepaid Cards? The Netspend prepaid card is a reloadable prepaid debit card. Reload Locations: Load cash to the card at over 130,000 retailer locations nationwide. Use of these trademarks and brand names do not represent endorsement by or association with this card program. bank account Something went wrong. 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. approved or otherwise endorsed by the credit card advertisers. Send Money: Send and receive money to other Netspend account holders. Netspend, a Global Payments Company, is a registered agent of The Bancorp Bank, MetaBank, N.A., and Republic Bank & Trust Company. No minimum balance to open Savings Account or obtain the yield(s). Netspend cardholders have the option to open a savings account to earn interest on their money. Many other prepaid debit card providers, such as the Chase Liquid Prepaid Card or the PayPal Prepaid Mastercard, charge a flat monthly fee (usually $4.95) but dont offer the option of a monthly plan or a pay-as-you-go plan. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). So Netspend cardholders will only benefit from this reduced monthly rate if they receive direct deposits of $500 or more every month. My personal favorite is the Greenlight card, but there are other good teen prepaid options as well. Where prompted for payment details, simply input your Netspend Prepaid Visa card account number and routing number. Youll earn 3% cash-back at Walmart.com, 1% cash-back at Walmart stores, plus 2% cash-back on purchases at Walmart fuel stations. Reward offers are based on individual shopping habits. Prepaid cards only allow you to spend money already in your account. None have been identified for this spot. The Netspend app includes budgeting tools that enable you to set spending limits by category. WebNetspend | A Better Way to Bank - Get your Netspend Visa Prepaid Debit Card now! Send money directly to members of your family. 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. Now, a week later I am still seeing ads from netspend in my facebook feed. 6,000,608 and 6,189,787. Netspend is a financial technology company. 6,000,608 and 6,189,787. The content has not been reviewed, This compensation comes from two main sources. What We Do The Chime Visa Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. 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. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Fees: For those looking for a virtually free prepaid debit card, Bluebird by American Express comes the closest. All trademarks and brand names belong to their respective owners. It does not, however, charge a monthly maintenance fee or transaction fee, and cash reloads at Walmart are free. 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. This site may be compensated through the bank 2. So I decided to check out the comments again. No Overdraft Fees on purchases using your card. Once the transaction is complete, you can log back into your Netspend account and cancel the virtual number. He's written about personal finance and investing since 2007 and is the author of the highly acclaimed book, Retire Before Mom and Dad. Netspend and Skylight are federally registered U.S. service marks of Netspend Corporation. The largest pro for using a Netspend prepaid debit card involves its ability to help consumers with budgeting and spending, White says. 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. With this perk, you get a 24-hour grace period if you overdraft the account. All rights reserved. Online Account Center: With the Netspend website you can see all your transactions, set up direct deposit and activate Netspend Payback Rewards. This spring, take some time to clean up your digital clutter and get and stay organized. Also, using a Netspend card wont help you improve your credit or qualify for a checking account. Rewards are credited to your account. In addition to all the existing services, now you can also use FlashPay Netspend to buy bitcoins in Paxful. 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. No late fees or interest charges because this is not a credit card. Netspend offers a variety of prepaid cards including a Mastercard option. But the card comes with hefty fees that can negate the interest you earn. 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. 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. advertiser(s) Affiliate Program(s). 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. However, the fees on this card can add up quickly. Inactivity fee (after 90 days with no transactions): $5.95, Netspend also says that it charges seven other types of fees. 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. 3 To minimize losses, Cardholder must notify Netspend promptly of any loss of the card or Banking Content Disclosure: Content is not provided or commissioned by the bank advertiser(s). Any and all options, reviews, comments and analyses are the responsibility of the author(s) and not any Advertiser or credit card issuer. We may validate the information you provide us to ensure we have a reasonable belief of your identity. You can also move money from the savings account to the card six times each month. However, with this plan, you will pay domestic purchase transaction fees of $1.95. The interest rates and APYs of each tier may change. Netspend is a service provider to Republic Bank & Trust Company. Upload an image of you, your family or your pet, for example. Are They Being Used as Substitutes for Checking Accounts? All Rights Reserved. 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. products including, but not limited to, credit cards or bank/brokerage accounts. 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 Visa Prepaid Card may be used everywhere Visa debit cards are accepted. To take advantage of an offer, just click the promotion and ensure you use your Netspend Prepaid Visa card for the purchase. Advertising Disclosure: allCards.com is an independent, advertising-supported blog offering 2022 Netspend Corporation. You can also get your tax refund deposited to your card. Customers provide the company with their names and addresses, and the company mails them personalized cards that they activate and load with funds. 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. Yes. See more at our Privacy and Security Center. The Netspend Prepaid Mastercard is issued by Pathward, N.A., and Republic Bank & Trust Company pursuant to license by Mastercard International Incorporated. Your financial security depends on it! Still havent found what you want? 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 Visa Prepaid Card is a simple option for enabling transaction payments without requiring a bank account. We may be compensated when you click on links from one or more of our advertising partners. This is most evident in its banking features, including online bill pay, mobile check deposit, and a high-yield savings account. All rights reserved worldwide. Netspend Premier customers also receive a free customized card. The NetSpend Prepaid MasterCard is issued by The Bancorp Bank, BofI Federal Bank, Individuals can apply for a Netspend Prepaid Visa card online. Card issued by MetaBank N.A., Member FDIC. 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. Many use the card as an alternative to a checking account. Depending on your needs, there may be better options than Netspend. Customers can create up to 6 virtual card numbers that can be used in place of their permanent card number. Users can send money to friends and families or transfer money between their accounts using FlashPay Netspend. Federal Reserve Bank of Boston, The 2018 Survey of Consumer Payment Choice: Summary Results. Chime is not a prepaid card, but as a practical matter functions the same way. Share it with friends, then discover more great TV commercials on iSpot.tv. You can also set up to receive alerts when you are closing to reaching your spending limits. With it being a Mastercard, you are protected No 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. The Netspend Visa Prepaid Card may be used everywhere Visa debit cards are accepted. Your funds on deposit are FDIC insured up to $250,000 through your issuing bank, subject to aggregation of all funds held on deposit. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating. Featured Image Credit: 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. Withdraw money from an ATM machine or at a cash register. 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. Here is a list of the functions you can perform with an online account: Online Bill Pay Check Account Balance Set up Direct The APY for this tier will range from 6.00% to .60%, depending on the balance in the account. Yes, Netspend Prepaid Card is safe to use. Card may 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. Netspend provides a viable alternative to a checking or savings account in the All rights reserved worldwide. That was that --- she's been gallivanting around the globe ever since (26 countries & counting)! Finally, you could consider a Chime Checking account. Were here to help. 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. If youre a frequent Walmart shopper, then you should consider the Walmart MoneyCard Prepaid Visa Card. All other trademarks and service marks belong to their owners. This differs from a credit card, which allows you to spend more, and can get you into debt trouble. 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. Whether you choose a monthly plan or pay as you go, its nearly impossible to avoid paying expensive fees to use the card. With any financial service product, you need to clearly understand the fee structure.. Roberts LLC All Rights Reserved. Cardholders are automatically enrolled in the rewards program, with opt-out possible within the online account center. 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. Netspend offers a Zero Liability protection. 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. Please contact a tax professional to discuss tax consequences of settlement. 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. ABOUT NETSPEND We empower consumers and businesses to be self-banked. Netspend does not charge for this service, but your wireless carrier may charge for messages or data. See Cardholder Agreement for details. 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). You will receive notice of any changes to your limit. Debt consolidation loans by Reach Financial. When you receive a check, this can be loaded to your prepaid card through the Netspend mobile app. The Netspend Premier prepaid card is an upgraded prepaid card offering more features and lower monthly fees than Netspends standard card. Certain products and services may be licensed under U.S. Patent Nos. Pay bills, rent and other necessities. Use of the Card Account is subject to activation, ID verification, and funds availability. And if used wisely, the monthly costs are reasonable. 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. 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. Its also a way to get around expensive fees for cashing checks, where the costs can eat into that monthly paycheck. This site does not include all available financial companies or offers. Using the Netspend prepaid card means paying fees. 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. Strength in numbers! 4. Just keep an eye on those individual fees that could really rack up, especially when on the pay-as-you-go plan. Kevin lives in Cleveland, Ohio with his wife and four kids. The content featured on UpgradedPoints.com has not been influenced, provided, or reviewed by the credit card companies mentioned. 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%. Getting a Netspend card is relatively easy as theres no credit check involvedonly a verification of identity. 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. 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 You can apply for a Netspend prepaid card online. Netspend Prepaid Visa Card Review (Rated & Compared) - AllCards.com We value your He lives in Denver, Colorado. Netspend is a leading provider of FDIC-insured Visa Prepaid, Prepaid Mastercard , and I use to have a Netspend card and they are the worse I ever dealt with. The account center also offers budgeting tools and enables you to set up Anytime Alerts. Many of the credit card offers that appear on this site are from credit card companies from which we receive financial compensation. You can also set up automatic transfers to the savings account to automate your savings. No minimum balance to open Savings Account or obtain the yield(s). When you introduce a friend to a Netspend Prepaid Visa card, youll both receive $20 credit after they load $40 onto their card. The maximum load value at a Netspend reload location is $2,500 within a 24-hour period. 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. The Netspend Visa Prepaid Card is issued by The Bancorp Bank, MetaBank. Heres a side-by-side comparison of payment options for Netspend prepaid cards. Last week a friend owed me money and asked if they could send visa netspend as we are not in the same state. But with that access comes expensive fees, from monthly fees to charges per transaction. 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. According to Netspend, the cards come with: And you can use virtual cards to get what Netspend describes as an added layer of control over who has your card number.. Netspend is a registered agent of Pathward, N.A., and Republic Bank & Trust Company. Banking services are provided by our bank partners. In addition, as an Amazon Associate we earn from qualifying purchases. Prepaid debit cards wont improve your credit score, White says. How to Market Your Business with Webinars? This creates a virtual account that is charged at the same rate as a regular account, and customers can cancel their virtual accounts at any time. Consider the following benefits and drawbacks to determine if its an option for you. The largest con is its fee structure, White says. Terms apply to offers below. 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. Well I lost it. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). It includes a Checking Account and an optional Savings Account, which pays interest. 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 is a financial company that offers alternative financial services, such as prepaid debit cards, direct deposit, bill pay, and mobile check depositing. However, fees would still apply for ATM withdrawals, cash reloading, and balance inquiries . Use the NetSpend Mobile App to manage your account on the go and get text message or email alerts (Message & data rates may apply). Netspend is a service provider to Pathward, N.A. Eligibility requirements apply.1. NetSpend is a company with a prepaid debit card that it claims offers a If you qualify for a Netspend Premier card, the monthly plan cost is reduced to $5. These cards only allow you to spend up to the amount of money you load onto the card. The Netspend Visa Prepaid Card may be used everywhere Visa debit cards are accepted. 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. There are, however, lower cost options (see below). 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. 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. Foster, K., Green, C. and Stavins J. 6,000,608 and The blue bar displays the response time, which is better when smaller. I agreed. 2022, National Debt Relief, All Rights Reserved. Check out are complete list of the best prepaid debit cards. Opinions and recommendations are ours alone. She caught the travel bug just after high school when her grandmother took her on a 2-week, whirlwind trip around Europe. *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. Smartphone App: With the Netspend smartphone app you can see your balance and transactions any time. WebCheck out NetSpend Card's 15 second TV commercial, 'Early Paydays: No Monthly Fees' from the Credit Cards industry. Prepaid cards are a potential avenue for individuals whove had trouble opening a checking account because of past banking issues. We work hard to I told my story multiple times in the comments. Commissions do not affect our editors' opinions or evaluations. We may also ask to see a copy of your drivers license or other documents at any time. The best payment option depends on your spending habits. Transfers can be made for free online with the recipients name and FlashPay ID. While Netspend is not a 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. Netspend says holding this card allows you to access your paycheck or government benefits more quickly. Email needed if you'd like comment updates. FlashPay Netspend enables sending money to and from your prepaid debit card account. Transaction fees, terms, and conditions apply to the use and reloading of the Card Account. An automated transfer can be scheduled after funds have been loaded for customers to take advantage of the high yield account. Netspend works with most major mobile phone carriers. 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. This site does not include all credit card companies or all available credit card offers that are on the market. You may opt-out at any time by visiting the Netspend Payback Rewards page in your Online Account Center. There are many providers of prepaid cards, White says. The Forbes Advisor editorial team is independent and objective. You might be using an unsupported or outdated browser. 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. 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. Not all debts are eligible for enrollment. 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 security of your personal information is always a priority at Netspend. To qualify for a Premier card, you must enroll and receive at least $500 in qualifying direct deposits per calendar month. Does your Netspend card come by UPS when you do 2-day delivery? What is Netspend Prepaid Card? Another great prepaid card that offers rewards is the American Express Serve Cash Back card. With Direct Deposit, you can get paid faster than a paper check. See our Advertiser Disclosurefor more details. Estimates based on prior results, which will vary based on specific circumstances. financial product comparisons. Netspend will ask you for basic personal information to verify your identity including your name, physical address and email address. These alternative debit card providers charge $4.95 without the requirement for a minimum deposit amount. And money transferred to the high-yield savings account is FDIC insured. We are not Netspend, so we cannot speak to what delivery service they use when shipping their cards. The Netspend Prepaid Card works like a traditional debit card, except it doesnt draw funds from a linked checking account. Its straightforward to apply for the Netspend Prepaid Visa card online. Card use is subject to activation and ID verification. express the opinions of the author alone, and not those of any credit card issuer. 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 gives you an account to use for transactions, including retail and online purchases. Up to a maximum of ve such fees may be applied per calendar month. Banking services provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. 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. The Netspend Prepaid Visa Card offers more features and benefits than most other prepaid debit cards. Theres also a charge of up to $3.95 each time you reload funds onto your card at a Netspend Reload location. 2022 Upgraded Points, LLC. 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. Arranging direct deposits can save time and effort, cashing a check, and can avoid the risk of losing a check completely everyones worst nightmare. You can transfer money from a Netspend card to a savings account. The cost of the Netspend card is hard to look past. Certain products and services may be licensed under U.S. Patent Nos. 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. Editorial Note: We earn a commission from partner links on Forbes Advisor. We'd love to hear from you, please enter your comments. This compensation may impact how or where links appear on this site. Prepaid debit cards can make sense for those with a history of credit card debt problems. Yes. Netspend offers an optional overdraft protection service. Your limit will be displayed to you within the Chime mobile app. Once you receive your card, you will need to verify your identity to activate it. The hefty fees that come with Netspend cards might be their biggest drawback. 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. 2022 A.R. Netspend Payback Rewards is an optional program. Once you receive your card, you need will need to verify your identity to activate the card. Please try again later. At the time of publication, this cost was $9.95. All Accounts are opened subject to our ability to verify your identity by requiring acceptable types of identification. Netspend customers may transfer and receive money to other Netspend cardholders and ACE Elite, Control, and Purpose cardholders. 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%. Citizens are receiving these permanent/name embossed Green Dot Debit Cards in the mail. NetSpend allegedly promoted its reloadable prepaid debit cards as a way to store and immediately access funds. The card 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! All other trademarks and service marks belong to their owners. Theres a choice of approval timeframes, with the option to have your check approved in minutes. Using a Netspend card to pay for a car rental. No late fees or interest charges because this is not a credit card. 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. 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. Terms and Costs apply. We are compensated when users click links to or apply for sponsored financial Unlike with credit cards, you cant go into debt using a debit card. (2019). 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. Your Account is subject to fraud prevention restrictions at any time, with or without notice. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC. 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. Netspend is a global payment company that offers a prepaid debit card, Fee may be assessed by reload location and may vary from location to location. Virtual Card Numbers: You can create up to 6 virtual card number for online or over the phone shopping. 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. See Terms and Conditions. The optional Savings Account linked to your Netspend All-Access Account is made available to Accountholders through Pathward, N.A. 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. Netspend is a payment company that offers prepaid debit cards geared toward unbanked and underbanked consumers. Share the good news about your Netspend Prepaid Visa card and you can add a bit of extra cash to your balance. Opinions expressed here are author's alone, not those of the bank advertiser(s), and have not been reviewed, We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. 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. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Chime doesnt do a credit check or use ChexSystems. 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. WebOur customer service representatives are happy to answer any questions you may have about you NetSpend Prepaid Card. 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 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. Netspend provides prepaid debit cards, prepaid debit Mastercard and Visa cards, and commercial prepaid cards. 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. Needless to say, I was very upset. Netspend offers Visa, Mastercard, and corporate prepaid debit cards. You can use a Netspend card at car rental With a Netspend Prepaid Debit Card, you can make purchases at stores, over the phone and online. Users can customize alerts, so they are only notified about specific occurrences as often or as little as they like. Thats where Netspend provides flexibility to the cardholder, depending on what their intentions are for the card. In evaluating any financial product, the first step is identifying the decision-making factors important to consumers. 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. To qualify, customers must enroll in direct deposits and receive at least $500 per calendar month in payroll or government deposits. The Netspend prepaid card is a reloadable prepaid debit card. Balances of $1,000 or less will receive interest rates of 4.91% with an annual percentage yield (APY) of 5%. He is a former litigation attorney in the securities field and the Founding Editor of Forbes Advisor. The Netspend Prepaid Mastercard may be used everywhere Debit Mastercard is accepted. Are you sure you want to rest your choices? Any and all options, reviews, comments and analyses are the responsibility of the author(s) and not any Advertiser or credit card issuer. Yes. 2022 Netspend Corporation. At NationalDebt Relief, we take pride in empowering people to regain their financial stability through our provendebt reliefprogram. Netspend is the federally registered U.S. service mark of Netspend Corporation. Kevin Payne is a personal finance and travel writer who covers credit cards, banking, and other personal finance topics. Refer a Friend: Refer a friend who loads at least $40 to their new card, and you both receive a $20 credit. NetSpend ranks 10th among Debit Card sites. Netspend Premier customers benefit from nearly 50% off their monthly plan ($5 instead of $9.95). The Netspend All-Access Account is a deposit account established by Pathward, National Association, Member FDIC. Netspend is a prepaid debit card that also offers the perk of a bank savings account that pays a hefty 5% in interest. Mobile Check Load: Using the Netspend smartphone app, you can deposit checks by snapping a picture of the check. 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). 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. Not the card one would want to use. That way, if its stolen, it can be used. However, if you have trouble qualifying for a traditional bank account, you might consider this card. Also, if your prepaid card is lost or stolen, youre only in danger of losing the funds already loaded onto the card. A photo of yourself can help avoid fraudulent use of your card if its ever lost or stolen. The Netspend card is a reloadable prepaid debit card. The interest rates and APYs of each tier may change. Your funds on deposit are FDIC insured up to $250,000 through your issuing bank, subject to aggregation of all funds held on deposit. 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%. This site does not include all credit card companies or all available credit card offers. Because of this reality, it makes sense to shop around and see if you can find an even better deal. 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. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC. 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. Finally, well outline alternatives to the Netspend card. The information provided is for informational purposes only and should not be considered financial, tax or legal advice. Prescription Savings: Netspend offers a free Pharmacy Savings Card that can save you up to 50% on prescriptions. Depending on your state, we may be available to recommend a local tax professional and/or bankruptcy attorney. Most prepaid debit cards dont offer cash back rewards. As a financial technology company, Netspend isnt a bank, but it partners with banks to provide banking services attached to its prepaid cards. It charges no monthly fee and offers fee-free overdraft protection up to $200. 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. His work has appeared in numerous newspapers and magazines, and on many news websites, including U.S. News & World Report, MSN and Fox Business. 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. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Netspend currently holds a 4.1 out of five stars rating on TrustPilot, with over 11,000 reviews. Cash back rewards are credited to your Account and are not available in the form of a check or other direct payment method. The Netspend Prepaid Visa Card is a low cost reloadable prepaid debit card. It does charge some fees (e.g., out-of-network ATM withdrawal), but these can generally be avoided. While its not the cheapest prepaid card available, it does offer one of the most extensive list of features and benefits of any card available today. During the application, youll need to complete your name, address, date of birth, and your government ID number. We've created a list of frequently asked questions to help explain things. 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. During the application, youll need to complete your name, address, date of birth, and your government ID number. He is the budgeting and family travel enthusiast behind Family Money Adventure. Customers provide the company with their names and addresses, and the company mails them personalized cards that they activate and load with funds. If no bar is displayed for a specific time it means that the service was down and the site was offline. Our customer service representatives are happy to answer any questions you may have about your Netspend Prepaid Card. Fees, terms and conditions apply. You can transfer funds between your Netspend card and the savings account. There are a couple of ways to add cash to your Netspend card. 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. 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