Netspend is a global financial company that deals with payment cards. The company has Visa debit cards from the Bancorp Bank, MetaBank®, Republic Bank & Trust Company, and the National Association. Moreover, Netspend also offers Mastercard debit cards issued by Bancorp Bank, N.A., MetaBank, and Republic Bank & Trust Company. You will learn how to transfer money from one netspend card to another shortly.
Debit cards are essential payment tools that relieve the burden of carrying cash with you all the time. You can imagine having thousands of dollars in your bag to use for various kinds of transactions. It can be extremely tiring. Furthermore, it is not safe to carry huge amounts of cash in your purse or wallet as thieves may notice and take away the hard-earned money from you. A debit card can help you move with a lot of funds electronically.
You can use debit cards to buy goods and services at places that accept the cards. Most online stores, large physical retail shops, restaurants, and travel companies accept card payments. During this period of Covid’19, governments advocate for contactless payment methods, and debit cards have become handy. You can also withdraw cash at ATM points in case you need to use it for various transactions.
What are the requirements to get the Netspend card?
When applying for the card, you will only need to enter the basic information such as your valid physical and email addresses and full names. Like many financial institutions, Netspend needs a Social Security Number when activating your card.
Additionally, you will need to submit an identification document which may be a driver’s license, passport, or any other relevant identification document for proper identification.
How do I get a Netspend Card?
Since Netspend is a financial company like many others, you will find that the requirements of applying for the card are similar to other financial institutions such as banks, credit unions, brokerage accounts, and digital mobile wallets. To apply for the card, you need to visit the Netspend card application page to get started.
Once the page opens, you will need to enter various details such as your first and last name, street address, apartment, Zip code, and email address. You will also have to tick the kinds of payment you would like to receive with direct deposit.
Netspend accepts direct deposits from paychecks, tax reliefs, and government benefits. If you do not wish to receive any government benefits, you should tick “None at this time” and change later if the need arises.
Once you have finished entering the information above, choose your card from the various options depending on the color you would like. You should also review the fees associated with your card. Furthermore, make sure that you read the cardholder agreement and privacy policy before proceeding.
Once you submit your application, you can wait for 7 to 10 business days for the card to arrive at your physical location. You should therefore provide an accurate physical address for a successful delivery.
How do I activate a Netspend card?
Once you receive your card, the next thing is activating the card to start using it. You can activate the card online, where you will need to enter the card number and the security code to get started. You will get prompts to enter your Social Security number and other necessary information. Ensure that you follow all the prompts and act accordingly.
You can also activate the card via phone call by calling Netspend at 866-387-7363. One can manage a Netspend account via the web or a mobile application. You can get the Netspend Android app from the Google Play Store and the App Store if you are using an Apple smartphone.
Are there fees associated with a Netspend card?
The application for the card is free. You only need to enter the required information online and submit it. However, there are other types of fees associated with the card. The table below shows various costs you will encounter when using a Netspend card.
Major Netspend card fees
| ATM withdrawal | $2.95/mo. | $2.95/mo. |
| Cash reload | $3.95/mo. | $3.95/mo. |
| Per purchase | $1.50/mo. | $0/mo. |
| ATM balance inquiry | $0.50/mo. | $0.50/mo. |
| Live customer service (per call) | $0/mo. | $0/mo. |
| Inactivity (after 90 days with no transactions.) | $5.95 per mo. | $5.95/mo. |
There are other kinds of fees that Netspend charges when using their card. For instance, if you get the card at a retail outlet, you may pay a fee of up to $9.95. You can choose the Pay-As-You-Go plan that costs $0, a monthly plan that costs $9.95, or a reduced monthly plan at $5.00. If you withdraw funds over the counter, you can pay a withdrawal fee of up to $9.95 per transaction. Check request fee is $5.95.
Despite the various fees that apply for the card usage, the card activation is free, there is no minimum balance requirement, and no credit check during application.
Netspend cardholders can transfer money to one another as Netspend supports peer-to-peer money transfer. There are various things you need to know about Netspend to Netspend money transfer. They include the following.
1) Your card must be active for you to send money
You cannot send money with an inactive card since the systems do not recognize it. Therefore, you must ensure that you activate the card as per the laid down guidelines and then transfer money or perform other kinds of transactions. An active card can even allow you to transfer money from Netspend to a bank account.
2) You need the name and the FlashPay ID of the recipient
FlashPay is a product of Netspend that facilitates the transfer of money. PayPal, one of the largest mobile payment platforms, also uses FlashPay. Every Netspend card user must have a FlashPay ID to facilitate easy transfer of funds.
3) Money transfer from one card to another happens online
If you want to transfer funds from your Netspend card account to someone else, you will need to log into your account online via the web or using the Nrtspend app. You should make sure that you use a secure internet connection to avoid hacking. Public WiFis are usually insecure, and you should avoid them as much as possible.
4) Transfer of funds from one Netspend card to another is free
You can log in to your account online and transfer money to another Netspend user at no fee. Some institutions charge some fees when transferring money to others of the same networks. However, if you seek the help of customer care to transfer funds, you will part with a $4.95 fee per transfer.
5) Transfer of money is instant
When transferring funds from your Netspend card account to another online, the money reflects immediately in the recipient’s account. Therefore, there is no longer waiting for emergency funds to be sent to you as it happens with bank transfers.
6) The maximum amount of money you spend per day for Netspend Prepaid Visa is $4,999
It means that if you are sending money to another Netspend cardholder, you cannot exceed the daily limit. The recipient should also have a balance that will not surpass the holding limit.
7) Sending money to another Netspend card is a way of topping up the card account
Your friend or relative may request you to send them money in their accounts for them to carry out various transactions. In such a scenario, you will have helped them top up their card accounts.
8) You can get an overdraft to top up your balance
If you transfer money and your account have an insufficient balance, you can request an overdraft to top up your balance. Overdrafts of up to $10 are free. However, you will part with a $15 fee for any overdraft amounts above $10.
9) If the recipient’s account has issues, the transaction may stay pending for some time
Sometimes one may have issues with their card accounts, such as incorrect details, suspected fraud, and other forms of irregularities. As the management investigates the problem, the funds may remain pending for some time.
10) You can transfer funds to a netspend cardholder even when abroad
Netspend cards can operate across borders since they are either Visa or Mastercard which operates globally. If someone is abroad and needs money, you can transfer funds in their account for them to use at various places accepting the card.
Do Netspend cards help you to increase your credit scores?
Netspend cards are debit cards, and thus they do not report to the credit bureaus. Therefore, you cannot earn any credit scores when using the cards. Moreover, you do not need any credit scores when applying for the card.
What are the advantages of Netspend cards?
Owning a Netspend card is advantageous for various reasons.
i) You can earn cash back
Netspend customizes rewards based on your spending habits. When you make purchases at select places, you can receive rewards depending on the amount you spend. To get started, you need to log into your account, visit the rewards page to see the available offers and activate them.
ii) You can earn from referrals
When you bring your friends and relatives on board, Netspend will always reward you for that. If your friends use your referral link to sign, and then add at least $40 to their accounts, you both get $20. The rewards system is not limited, and you can earn as much as possible.
iii) You can save money
Netspend card accounts are not just about spending. You can save money and earn a 5.00% APY on your savings. Furthermore, you can always transfer funds from your Netspend savings account to your Netspend card account.
Interestingly, you can set up autopay so that Netspend will be deducting a particular amount every time you top up and deposit it in your savings account.
iv) Netspend allows you to customize your card
You can customize your card with your favorite photo or image. Customizing your card makes it easy to find it if lost. That is possible if you customize it with your image. People who know you can easily trace and hand over the card.
v) You can create virtual card numbers
Card number is essential when making online payments. Netspend allows you to create a virtual card number to minimize cases of fraud. Some merchants are not honest and may steal your money if they get your card details.
vi) Free ATM withdrawals
I can withdraw money from my Netspend card for free by using the in-network ATMs. Moreover, one can withdraw cash for free by using a surcharge-free ATM.
vii) Zero liability
In case you lose your card, you will not be liable for any unauthorized payments. However, you must report immediately to Netspend upon misplacing the card.
How to add money to my Netspend card
Since the card is useless if it has no money, there are various ways you can add cash to your card account. They include the following.
- Direct Deposit. You can initiate direct deposits from your paycheck. Also, if you receive government benefits, you can provide your Netspend account details for the periodical deposits.
- At Netspend Reload Network Locations. Netspend has 130,000 plus convenient locations across the US where you can load money. You can always use the reload location finder from your account online.
- Bank Transfers. You can use your bank account or a bank debit card to add money to your account.
- PayPal. Paypal works with Netspend, and you can add your card to PayPal so that you can always use the PayPal account to add money to your account when a need arises.
- Transfer funds from one Netspend card account to another. If someone sends you money from their Netspend card account, then you will have increased your balance. Transfer of funds between Netspend cardholders is instant, and thus you can receive cash in good time.
- Tax Refunds. You can instruct the IRS to deposit your refunds directly to your Netspend account.
Bottom line
Netspend debit card allows you to transfer funds from one card to another, pay bills online, swipe at physical stores, and even withdraw money at ATM points or over the counter. Using a Netspend card brings you cash backs that you can redeem for various transactions. Moreover, Netspend pays you when you get more people to the company. Netspend cards can operate internationally.