Netspend is a payment service provider of Bancorp Bank, Axos Bank, MetaBank, and Republic Bank & Trust Company. The firm provides prepaid debit cards to customers so they may control their money as they choose.
You can use a Netspend Visa Prepaid Card or a Netspend Prepaid Mastercard. Because they are prepaid, you must recharge them in order to utilize them for various purchases.
- 1. A Netspend account holder
- 2. Direct deposit
- 3. Netspend reloads network locations
- 4. Bank transfers
- 5. Using PayPal
What is Netspend Card and How Does it Work
Netspend Debit cards help you save money on your everyday purchases by rewarding you with cash back when you make purchases at certain retailers. You may also earn interest on your savings. The Netspend debit cards are suited for those who do not want to use checking accounts or credit cards.
However, like checking accounts and credit cards, the company itself does not allow you to borrow money. Some lenders provide loans through Netspend debit cards by chance.
Can Someone Send Money to My Netspend Card
Someone may send money to your Netspend card account online. If the payer has a Netspend card, they will be linked to an online account where they can manage their card. There are several methods for putting money into your Netspend account and they include:
1. A Netspend account holder
You can receive funds from another person’s Netspend account to your Netspend card. Simply, the sender should go to his or her account and enter your name and FlashPay ID, then choose the amount to send, and then start the transfer process. FlashPay is a service that lets you send and receive money from prepaid cards.
2. Direct deposit
People can simply send money to your Netspend account and save you the trouble of going to a bank branch or waiting for check processing. The concerned party makes electronic payments into your account so you can access funds as soon as possible.
You are entitled to make unlimited automatic payments from your payroll or government assistance of up to $500 in one month, which can help you upgrade to the Netspend Premier account with more features than the normal Netspend account and save monthly expenses to nearly 50%.
3. Netspend reloads network locations
With over 100,000 locations across the United States, it’s simple to access your money. You can either pay them cash or provide a bank draft in person. They will take your cash and add the same amount into your account via electronic transfer. You may also deliver checks to them for them to replenish funds corresponding to the check-in.
4. Bank transfers
If someone wishes to send money to your Netspend account, they’ll need an online banking profile with their bank so that they can log in and then provide you with their Netspend information, including your name and FlashPay ID. They may then type in the amount of cash they wish to transfer. The funds will reflect after at least a day.
5. Using PayPal
PayPal is a popular payment method for your friends or family members to transfer money to your Netspend account. All they have to do is add your Netspend account information to their PayPal account in order to send you money. You may also send money from your credit card to a PayPal online account. Finally, funds can be added to Netspend reload stations.
How Can Someone Send Me Money to My Netspend Account
Netspend cards can be used to send money to other Netspend users, whereas Control, ACE Elite, and Purpose cardholders can receive funds. If you want to send money to your Netspend card, the sender must include the receiver’s name and FlashPay ID. FlashPay is a banking service that allows customers to send and receive money from their prepaid accounts.
To send money to someone, simply access your online Account Center, type their name, FlashPay ID, and the amount of money you wish to transfer, and you’re done.
Are There Any Fees Associated With the Netspend Card
A Netspend account comes with a variety of costs. The charges are dependent on whether you have opted for the Pay-As-You-Go Scheme or the Monthly Plan. There are no fees associated with the Pay-As-You-Go Plan. You must, however, pay $2 for each transaction using your card. Furthermore, ATM withdrawals charge $2.50 while cash reloads charge $3.95.
You’ll also pay $0.50 per inquiry if you use an ATM or the Telephone Automated Service to reach out for your balance. Furthermore, you will be charged $0.50 for a Balance check by either using ATMs or utilizing the Telephone Automated Service.
You will find out that there are other fees Netspend charges its customers. For example, the MoneyGram Bill Payment Service costs $15.99 on both plans. Automated Clearing House (ACH) Payments and mobile refiling for either program are however free.
Is It Possible To Transfer Money From Bank Account To Any Prepaid Netspend Card
It is possible to receive funds from other people’s bank accounts. All you need is the bank account number and routing number linked with your prepaid card.
With most prepaid Netspend cards, you can receive money to your prepaid Netspend card from a bank account via an online transfer. Almost all prepaid cards come with free bank transfers, and the transaction is handled online. Nonetheless, there are only a few steps to follow, and the procedure might last for a few days.
How Do I Close My Netspend Account
Many people usually ask this question most of the time but the answer is quite simple. You can cancel your Netspend Card account if you no longer need it. You should also make sure you use up the remaining balance before closing it. This can be done by:
- Withdrawing all the money from an ATM.
- Spending all your money on items and services.
- Call to request a check. The check will arrive in 3 to 4 weeks.
- Log in to your online account and close your account once there is no money in your bank account.
How Secure is Netspend Card
Because you must use a PIN to access your account, the Netspend card is secure. To safeguard your information, they have implemented strong online security as well. They do data encryption so that no one can get hold of your personal information.
You may also set up automatic alerts to help you identify fraudulent transactions. You should also avoid using public WiFi to log in to your account since this exposes you to a higher level of risk.
You may receive money into your Netspend card account in a variety of ways. The most common way to receive money from someone else is via a Netspend-to-Netspend money transfer. You may use your Netspend account to save money for future use as you earn interest.
Always keep your card’s details to yourself. If you lose your card, contact Netspend right away. A replacement Netspend card costs some extra fee.