Netspend is a financial company based in the United States that issues prepaid cards for personal & commercial use. The company works with various US banks such as Metabank, N.A., and Bancorp Bank to offer its services. That means that the Netspend prepaid debit cards have FDIC insurance since the holding banks are members of FDIC. Today, you will know how to add money to a Netspend card from a bank account.
For your information, FDIC is a body responsible for ensuring your money in banks so that in case an institution collapses, you can get your money back. It is advisable to bank with an institution that has FDIC insurance for your funds to be safe. FDIC insures funds up to $250,000. Beyond that, you are on your own.
Netspend prepaid debit cards are essential when it comes to purchasing goods and services. Instead of carrying a large amount of money, you can load your card with sufficient funds to ensure that you have sufficient money to do your shopping. All forms of debit cards make it easy for you to carry large amounts of money that could be risky if you carried them in your pockets.
How do I get a Netspend card?
Getting a Netspend card is straightforward. You only need to visit the Netspend website to get started. You can get a Netspend Visa Prepaid Card and Netspend Prepaid Mastercard, depending on your personal preference.
Upon visiting Netspend.com, you have to navigate to the signup option and input your name, address, and email in the spaces that appear. After that, select if the account is for direct deposit. You can skip this part or even change it later according to your personal preferences.
Next, you will need to create a username, password plus a security question. Make sure that you create a password that you can remember. The security question is vital to help you when resetting your password. This is the final stage of your Netspend account creation, and once approved, you may log into your account online. You have to upload the needed documents as per the company’s directives. Otherwise, you may not get approval if you do not upload every document.
Your Netspend card will arrive via the U.S. Postal Service within seven to 10 business days after a successful application. Once you get the card, you will have to activate it by following the steps in print. When your card is active, you will be able to use it for your transactions. There are various kinds of transactions you can do with the card. By the way, you can transfer money from Netspend to a bank account but via indirect ways when the need arises.
How does Netspend work?
Netspend operates in a simple manner. The following is how Netspend works.
i) Adding money
You must have a balance on your card to use it for various kinds of transactions. You can add money to your card via direct deposit. Netspend allows you to set up a direct deposit and receive funds from your employer or a government agency two days faster than traditional banks.
Another way you can add money to your Netspend card account is by depositing checks using the Mobile Check Load. Nowadays, you do not have to walk to the bank to deposit your check as Netspend, and other digital platforms allow you to cash your check on the go. Netspend mobile check deposit is straightforward, and you will not face many challenges whatsoever.
Another alternative is stopping at any of the various reload locations to add cash or checks. Netspend has over 130,000+ convenient reload locations countrywide, and you are likely going to get one within your town.
ii) Buy goods and services
Netspend allows you to shop conveniently online and at physical stores. All you have to do is carry your card and pay conveniently at the register either by swapping or entering the card details in the system. When shopping online, you have to enter the card details (CVV, expiration date, and card number). You can also pay using the routing and account number.
iii) Track your expenditure
Netspend allows you to track how you use the money to know what went where and evaluate whether you are doing it correctly. You can sign up for Anytime Alerts in your Netspend app and get text messages about any transaction or update as soon as they happen.
iv) Purchase cushion
Sometimes when shopping, you might find yourself having gone short of money. If that happens, you should never worry since Netspend gives you a purchase cushion of up to $10 to cater to your deficit. However, the option is available for the Netspend Premier cards.
v) Withdraw money at ATMs
Netspend allows you to withdraw money at ATMs. All you need is the card PIN to enter when you insert it into your ATM. Withdrawing money at an ATM is crucial for various transactions. ATM withdrawals cost $2.50 per domestic ATM withdrawal and up to $4.95 per international withdrawal. However, I can withdraw money from my Netspend card for free using Metabank, Money Pass, and Visa Plus Alliance ATMs.
How to add money to a Netspend card from a bank account
Netspend allows you to top up your account using your bank account. That makes the card have many ways to top up your account other than just via reload locations, check and direct deposit. To add money to your netspend card from your bank account, you have to follow the following procedure.
1) Get the routing and account number of your Netspend account
When setting up transfers from your bank to your Netspend card account, you must get the card’s routing and account numbers. You can get your routing and account numbers online when you log into your account.
2) Add your card routing and account numbers to your bank
After getting the routing and account numbers of your Netspend account, you have to log into your online bank account to add the card details. By doing so, you will have set up an ACH transfer to your card account.
3) Test the deposit
You have to verify that your setup is working correctly. You can do this by making small deposits from your bank to your Netspend account. If they succeed, then it means that the setup was complete. If they don’t, you should check that you entered the correct card details. You can contact your bank’s customer care and ask them to guide you in the process as well.
4) Transfer money
Once you have made successful small deposits, you can then transfer money from your bank account to your Netspend account. To transfer money from your bank to your Netspend card account, navigate the transfer page on your bank’s site and choose the amount you want to transfer. After that, choose the account to transfer the money from, and then choose your Netspend card account to transfer the funds to.
Once you complete the process, you can wait for your money. You need to understand that the funds will not be available immediately as it takes about one business day for the money to reflect in your Netspend card account.
How do you send money with Netspend?
Netspend allows you to transfer money to other Netspend card users. You can also receive money from others. For someone to send money to my Netspend card account, I have to share my name and FlashPay ID. To get the details, I will have to log into my account center.
Therefore, the card is not just for buying goods and services or transferring money to a bank only. The following is the process you can use to transfer money from your Netspend account to other Netspend accounts.
- Log into your Online Account Center.
- Enter the name and FlashPay ID of the recipient.
- Enter the amount you want to send.
- Authorize the transaction.
Can you transfer money from Netspend to Cash App?
Netspend does not support the direct transfer of money to Cash App. However, you can indirectly transfer money from your Cash App account to Netspend. You will need to use PayPal and a bank account that links to your PayPal and transfer money from Netspend to Cash App and Cash App accounts. You need PayPal because Netspend does not support transfers to a bank account. And You have to add Netspend to your PayPal account to act as your source of money.
After that, you can log into your PayPal account, select “add money online,” and source the money from your Netspend card account. When the funds are in your PayPal account, you can transfer to the bank that links to Cash App. Afterward, you will log into your Cash App account and add money from your bank account.
Bottom line
Netspend is a financial company based in the United States that issues prepaid cards for personal & commercial use. You can get a Netspend prepaid card if you apply online. You can then reload your card at reloading centers via direct deposit or via check deposit. And you can send funds to other Netspend account holders. With a Netspend card, you can buy goods and services online and at physical stores.
