A NetSpend prepaid debit card is a reloadable and prepaid card that allows you to complete transactions without a bank account. NetSpend offers prepaid MasterCard and Visa debit cards, and all cards are insured by the FDIC. Someone can send money to your NetSpend card via direct deposit, through a PayPal account, or using a Cash App account. You can also load money onto your NetSpend card at a NetSpend reload location, or through direct deposits, bank transfers, or mobile check loads.
In an increasingly cashless and check-less world, card-based transactions have become the norm. However, if you aren’t able to open a bank account, this hyperspeed acceleration of technology can leave you feeling a little left out. Enter NetSpend, a global payment company that offers prepaid debit cards that allow users to complete transactions, and to send and receive money, without needing a traditional bank account.
A NetSpend prepaid card gives users the freedom of having an online spending account without needing to go through a bank. You can send and receive funds electronically, and you can also directly deposit money to your NetSpend account.
What is NetSpend?
NetSpend is a technology company founded in Austin, Texas, in 1999. The company serves over 10 million customers worldwide, specializing in reloadable prepaid debit cards that are not connected to existing bank accounts. NetSpend offers a Mastercard and Visa prepaid card option, and all cards are insured by the FDIC.
Getting a NetSpend card
These cards don’t require a credit check and don’t come with activation fees or minimum balance requirements. You can purchase a NetSpend card at participating retail locations for a price that depends on the retailer, usually around $9.95. You can also order a card online, and it will be shipped to you in seven to ten business days free of charge.
Using your NetSpend card
Once you activate your NetSpend card, such as the PayPal Prepaid Mastercard, there are two service options. One is a pay-as-you-go plan with no monthly fee, and the other is a monthly plan with a fee. A monthly fee of $9.95 is common, but fees and terms may vary among cards issued by NetSpend, and they may change over time.
A NetSpend card allows you to withdraw cash from ATM locations for a fee, typically $2.50 per withdrawal. There’s also a payback rewards program that helps you earn cash back by giving rewards on select purchases based on your shopping habits.
What is FlashPay?
FlashPay is a service NetSpend uses that allows its users to transfer money to and from other prepaid debit cards. You can use FlashPay to send and receive money to and from people who have NetSpend, ACE Elite, Control, and Purpose prepaid debit cards.
To send money to other NetSpend cardholders, you will need their names and FlashPay IDs. To receive money, you will need to provide the sender with your name and FlashPay ID, which will allow the funds to be transferred to your account.
How can I load money to my NetSpend card?
To load money onto your NetSpend card account, you can go to one of the 130,000 physical NetSpend reload locations in the United States. NetSpend reload locations are available at a range of retail businesses, including 7-Eleven, CVS Pharmacy, Walgreens, Kroger, and Walmart. There are several different ways to send and receive money through NetSpend.
You can also load, send, and receive money to your NetSpend account via direct deposit. You can direct deposit paychecks, Social Security payments, tax refunds, unemployment benefits, and other forms of government assistance to your NetSpend account.
This option is entirely online and lets you avoid having to go to a physical NetSpend reload location. Direct deposit allows you to access your funds nearly two days sooner than through more traditional banking practices.
To add money to your NetSpend card from a checking or savings account, go to your online banking website to link your account to your NetSpend account. You will need to enter your NetSpend card details and FlashPay ID to link the accounts. If you want to transfer funds to someone else’s NetSpend account, you will need that person’s NetSpend card details and FlashPay ID to complete the transaction.
Customers may have the option to have their bank-transferred funds available immediately for an additional fee. Fees will vary depending on the bank and the type of transfer.
Mobile check load
If you have a physical check that you need to deposit to your NetSpend account, you can use the NetSpend mobile app to make the deposit from your smartphone. In the app, select the “Mobile Check Load” option, which will take you through the steps for uploading a picture of the check so you can make the deposit to your NetSpend account.
Can someone deposit money into my NetSpend account?
Anyone who has your FlashPay ID can deposit money into your NetSpend account, and you can deposit money into that person’s account. To transfer the funds, NetSpend users must log into their online account center and enter your name, FlashPay ID, and the amount of money they want to transfer. Once the transaction is complete, you should receive the funds in your NetSpend account almost immediately.
Others can also link their PayPal accounts to your NetSpend account, then transfer money to you in that way. You can link your Cash App account to your NetSpend card as well.
Can I send money from my PayPal account to NetSpend?
You can use PayPal to send money to family and friends’ NetSpend accounts. If you want to transfer money to NetSpend users, you will need to link your PayPal account to their NetSpend accounts to transfer money. If you are NetSpend user, PayPal users will need to do the same if they want to send you money. PayPal also allows its users to add money to their PayPal prepaid cards at NetSpend reload locations across the country.
PayPal transfers have daily limits that may result in fees. Additionally, funds transferred using PayPal take one to three days before they become available.
Can I send money from Western Union to NetSpend?
You can send money using Western Union, which has its own NetSpend prepaid Mastercard. A Western Union NetSpend card allows you to utilize Western Union’s wire transfer process to transfer funds to over 200 countries and territories. The fees for these transactions will vary, however, depending on current fees for Western Union money transfers.
Can I send money from Cash App to NetSpend?
You can transfer funds from the Cash App to your NetSpend card. To make the transfer, select the balance tab from the Cash App home screen, then select the cash out option and choose the type of transfer you want to make. Finally, enter the amount you want to transfer from the Cash App to your NetSpend card and select either the instant transfer or standard transfer option.
Standard transfer deposits are free and arrive in your NetSpend account within one to three business days. Instant transfer deposits arrive instantly, but they are subject to a fee between 0.5% and 1.75%, with a minimum fee of $0.25.
Your FlashPay ID is not required to send money from your NetSpend card to Cash App account.
What is the bank name for NetSpend?
NetSpend uses The Bancorp Bank, MetaBank, National Association, and Republic Bank & Trust Company to issue its cards and provide other financial services. The name of the bank that issued your individual NetSpend card should be listed on the back of the card. Each of the four banks that NetSpend uses are members of the FDIC.
NetSpend savings account
You can open a NetSpend savings account with competitive interest rates. If you have a NetSpend savings account, you can transfer funds between your NetSpend card account and your savings account up to six times per calendar month. There are no minimum balance requirements to open or maintain an account, and they are insured by the FDIC.
- A NetSpend prepaid debit card is a reloadable and prepaid card that allows you to complete transactions without a checking account.
- You can load money onto your NetSpend card by reloading it at one of NetSpend’s 130,000 reload locations, or through direct deposits, bank transfers, or mobile check loads.
- It is possible to use FlashPay to send and receive money to and from people who have NetSpend, ACE Elite, Control, and Purpose prepaid debit cards.
- You can send money to friends and family from your Cash App and PayPal accounts to NetSpend accounts. You can also transfer funds using Western Union, which has its own NetSpend prepaid Mastercard.
- NetSpend uses The Bancorp Bank, MetaBank, National Association, and Republic Bank & Trust Company to issue its cards and provide other financial services.
- NetSpend offers savings account with a high APY. You can transfer funds between your NetSpend card account and your savings account up to six times per calendar month.
Ready to open your own NetSpend account?
SuperMoney’s comparison tool will help you choose the best of the available NetSpend prepaid cards for your unique situation. The tool provides current rates and terms for every card and reviews by real customers.
View Article Sources
- Prepaid cards — Consumer Financial Protection Bureau
- Prepaid cards and other prepaid accounts — Consumer Financial Protection Bureau
- Relevant background articles on several personal finance sites, a retirement site, a gig-economy site, and a Cash App troubleshooting site — Various
- Savings Account: Put Money Aside and Earn a Little Something, Too — NetSpend
- How to Send Money to Someone Without a Bank Account — SuperMoney
- Money Transfer Services: Reviews & Comparisons — SuperMoney
- Western Union Review — SuperMoney
- Western Union Netspend Prepaid Mastercard Review — SuperMoney
- NetSpend Review — SuperMoney