Netspend is a prepaid card company that issues prepaid debit cards in the United States of America. Prepaid debit cards are payment cards that allow you to recharge to use for various transactions. There are various kinds of transactions that you can do with a prepaid card, including buying goods and services. We shall see how you can use the card later. As I have said, you have to reload your card to use it for your transactions. But where can I put money on my Netspend card?
We shall see where you can U.Scharge your prepaid card shortly. For your information, prepaid cards do not necessarily connect to any bank or credit card. However, you may add a bank account when the need arises. It is contrary to debit cards that connect to checking accounts to use your bank balance directly using the debit card. However, NetSpend, like many other prepaid cards, works with The Bancorp Bank.
The Bancorp Bank issues the NetSpend debit cards. That means funds held by NetSpend are secure since the Bancorp Bank has FDIC insurance. FDIC ensures up to $250,000 for everyone holding an account so that in case a bank collapses, then every account holder in the bank can get their funds back. It is always essential to inquire whether your bank has FDIC insurance before opening an account with them.
How to get a Netspend card
You can get a Netspend card online when you visit the Netspend website. Applying for a Netspend card is free, and you do not have to pay anything. However, once you get it, you have to choose any of the various plans.
To get a Netspend card, you need to fill in a form online, choose the design you want, and Netspend ships the card to your destination. Once you receive it, the next thing is to activate it and begin using it for various kinds of transactions.
When activating the card, you must provide various details, which include;
- Your name
- Street address
- Date of birth, and
- Information that will allow Netspend to identify you. This can be your government identification document, passport, or driver’s license.
You might be wondering why the financial company must collect all that information. Well, every financial company, be it a bank, credit union, or mobile money transfer platform, must request that information in accordance with the Federal law that requires every financial institution and their third-party service providers to request, verify and record identifying information from each individual who opens an account.
Netspend, being a financial company, must get that information. The residents of the Vermont state are not allowed to open a Card Account.
How long does it take to get a Netspend card?
You should get your prepaid card approximately 7 to 10 business days after placing your order. If ten business days elapse, and you do not receive your card, you can call Customer Service at 1-866-387-7363.
What can you do with a Netspend card?
The card allows you to carry out various transactions as long as you have sufficient balance. The following are some of the things you can do.
i) Check deposit
You can contact a Netspend mobile check deposit instead of walking to the bank to deposit funds. Mobile check deposit requires you to sign the back of your check, then take the front and back parts of your check and upload it to your account for processing.
ii) Buy goods and services
You can use your Netspend prepaid to buy goods and services at various places online and at physical stores. Online purchases require you to provide the card number, the CVV, and the card expiration date. You can swipe the card at the register at the physical store to have the amount of money you have spent automatically deducted.
iii) Withdraw money
You can withdraw money from ATMs using your Netspend card, whereby you have to use your PIN to authorize transactions. Again, you can use it anywhere Mastercard and Visa are accepted. That means you can withdraw funds at ATMs worldwide.
Some ATMs charge fees when you are withdrawing money. However, if I want to withdraw money from my Netspend card for free, I can withdraw money at MoneyPass ATMs. You can find the nearest MoneyPass ATM by using the ATM locator tool in your app.
iv) Transfer to Netspend savings accounts
Netspend allows you to transfer funds to your savings account to save money for the future and earn some interest apart from issuing prepaid debit cards. To move money to your savings account, you have to log in to the Online Account Center and carry out the transfer process.
v) Send money
Netspend allows you to move money from your account to other accounts online. To transfer funds to your friends and relatives, you need to log into your account, select ‘Send Money’ and follow the prompts. Also, someone can send me money to my Netspend card when they login to their accounts and enter my details in the recipient’s field. To send money to someone else, you require the recipient’s name and their FlashPay ID.
vi) Pay bills
You should never be worried about your bill payment with the card since you can use it to pay your bills online. You can even set up automatic bill payments to avoid skipping essential bills. That way, you will avoid late payment fees with some service providers if you forget to pay.
Also, you can call your service provider by phone and pay over the phone if they support that option. Netspend also supports MoneyGram® ExpressPayment® Service, although it charges a fee.
vii) Direct deposit
If you receive government benefits or salary from your employer, you can use your Netspend account to receive them. Direct deposit ensures that you get your money two days earlier compared to traditional banks.
Can you use Netspend to transfer money to a bank account?
Netspend does not allow you to transfer money to a bank account. If you want to transfer money from Netspend to a bank account, you must use indirect ways such as withdrawing money at an ATM and then depositing it in the bank account to which you need to move the funds.
Where can I put money on my Netspend card?
As I mentioned earlier, the card requires you to recharge it since it does not connect to any bank account. There are various recharge locations that you can use to load your account. The following table shows the locations you can recharge and the fees involved.
|ACE Cash Express||$3.95|
|Allied Cash Advance||None|
|American Title Loans||$2|
|Citizens Trust Bank||$3.95|
|Check ‘n Go||None|
|Fifth Third Bank||$3.95|
|Loaf ‘N Jug||$3.95|
|Love’s Travel Stops||$3.95|
|Pilot Flying J Travel Centers||$3.95|
|Stop & Shop||$3.95|
|Tops Friendly Markets||$3.95|
|TravelCenters of America||$3.95|
|United Check Cashing||$2|
Can you use a bank account to add money to your Netspend card?
Netspend allows you to add money from a bank account. To add money to a Netspend card from a bank account, you have to log into your account and link your bank account to transfer money from your bank account to your Netspend card account.
What should I do upon losing my Netspend card?
If your card gets lost, there is a significant danger of losing funds from your account. You, therefore, must take the necessary measures such as locking the card and reporting the loss to Netspend customer care.
Netspend is a prepaid card company that operates in the U.S. The Netspend cards allow you to recharge money from various locations such as Walmart, Sunoco, 7-Eleven, and U.S. Bank at a fee. You can also move money from a bank account to your card account once you link the bank to Netspend. You can use a Netspend card to buy goods and services, send money to others, and save for the future.