Has anyone asked you a question like, ‘can someone send me money to my Netspend Card?’ you might have found it challenging to explain to them because maybe you had not used Netspend before or do not have adequate knowledge about how someone can receive money in their Netspend Card. Explaining such a question will be accessible after reading this article. Stick around to get all the information regarding Netspend.
Netspend is a global payment service agent of Bancorp Bank, Axos Bank™, MetaBank, and Republic Bank & Trust Company. The company gives prepaid debit cards to users to manage their money in their way. They include; Netspend Visa® Prepaid Card or a Netspend Prepaid Mastercard®. Since the cards are prepaid, you have to recharge them to use them for various kinds of transactions.
The debit cards allow you to save big on your daily transactions due to your cashback when you purchase at certain outlets. You can also earn interest in your savings. The Netspend debit cards are alternatives to checking accounts and credit cards. However, the company itself does not give loans like it is with checking accounts and credit cards. It only happens that some lenders provide loans via Netspend cards.
Can someone send me money to my Netspend Card?
Since I had promised to give you detailed information about this topic, let me now dig into it in detail. Someone can send money to your Netspend account online. If the sender has a Netspend card, they automatically have an online account to manage their card.
There are many ways you can receive money in your Netspend account. Let us explore them one by one.
i) A Netspend account holder can send money to your Netspend account.
Someone else who can be friends or relatives can send you money from their Netspend account to your Netspend card. They only need to log in to their accounts, enter your name and your FlashPay ID, then the amount to send, and then initiate the transfer process. FlashPay is a service that facilitates the transfer of money to and from prepaid cards. The process requires you to;
- Log in to Online Account Center
- Enter recipient name
- Enter their FlashPay ID
- Enter amount
ii) Direct deposit
People can directly deposit money in your Netspend account and save you the hustle of walking to your bank branch or waiting for check processing. The concerned party deposits money electronically into your account so that you can access them within the shortest time possible. Some examples of direct deposits include;
- Work paychecks
- SSI (Supplemental Security Income)
- Tax refunds
- Social Security benefits
- Railroad Retirement Benefits (RRB)
- State unemployment benefits (varies by state)
- Government Disability Benefits-SSDI or Workers Compensation (varies by state)
- Defense Finance and Accounting Service Payments (DFAS)
- Veterans’ benefits
Direct deposits from payroll or government benefits amounting to $500 in one calendar month can help you upgrade to the Netspend Premier account with more features than the regular Netspend account and allow you to save monthly fees to almost 50%.
Apart from low monthly fees, Netspend will always cover up your transactions if you run out of money with up to $10. The account allows you to personalize your card for free.
iii) Netspend reloads network locations
The company has 130,000 plus convenient locations to have money in your account across the US. You will give them Cash then they will send money electronically into your account. You can also give them checks in person so that they can add money amounting to the check-in of your account.
iv) Bank transfers
If someone wants to send money to your Netspend account, they should have an online account for their bank whereby they can log in, and then you provide them with your Netspend details, including your name and your FlashPay ID. They can then enter the amount of money they want to send to you. The funds take at least a day to reflect.
v) Use PayPal
Your friend or relative can use PayPal to send money to your Netspend account. They need to add your Netspend account details to their PayPal account to transfer funds to you. You can also send money from your card to a PayPal account online. Moreover, you can add money to a PayPal account at Netspend reload centers. If you want to add a Netspend card to your PayPal account;
- Log in to your PayPal account.
- Navigate to Wallet.
- Below ‘Debit and credit cards, select Add a card.
- Select the card type
- Enter the required information and click Save.
How do I get a Netspend card?
Ordering a Netspend card is free. If you need a Netspend card, then you will only need to fill out an online form at the Netspend website and navigate to the sign-up section. You will need to enter;
- Your first name
- Second name
- Street Address/ App, and
- Email address
During the signing up, you can select the ways you would like to receive direct deposits by ticking either;
- A paycheck that is up to two days faster
- Tax refund which is faster than paper checks
- Government benefits are up to two days faster
- None of the above
Once you are through with filling out your information, you can wait for your personalized card. Netspend ships it to the address you provide when applying for the card. The good thing is that there are neither credit checks nor upfront fees.
The card arrives within 7 to 10 business days from the day you place your order. Once you receive your Netspend card, you will need to activate it. You must provide your name, your date of birth, street address, and any other necessary information as per the instructions.
All this is to identify you correctly so that no one else can take your card. Unless you activate the card, you will not be able to transact with it. Unfortunately, residents of Vermont state cannot apply for a Netspend card. Applicants also should be at least 18 years old and have a valid Government ID. and a Social Security Number.
Does the Netspend card have any fees?
Various fees accompany a Netspend account. The fees depend on whether you are on the Pay-As-You-Go Plan or the Monthly Plan. The Pay-As-You-Go Plan has zero fees. However, the company charges you $2.00 per transaction. Moreover, you will spend $2.50 for ATM withdrawals and $3.95 for cash reloads.
Furthermore, you will pay $0.50 for the Balance inquiry, whether using ATM or the Telephone Automated Service. Live customer service will see you parting with $0.50 per call. If you stay inactive for 90 days, the company will begin deducting you $5.95 per month.
On the other hand, the Monthly plan costs you $9.95 per month. Unlike the Pay-As-You-Go Plan, you pay zero fees per purchase. ATM withdrawals will cost you $2.50, while cash reloads will see you part with $3.95. Again, Balance Inquiry for either ATM or Telephone Automated Service costs $0.50. The same applies to live customer service per call. If you stay inactive for 90 days, the fine is $5.95 per month.
There are other kinds of fees that Netspend charges users. For example, the MoneyGram Bill Payment Service charges you $15.99 on either plan. However, Automated Clearing House (ACH) Payments and mobile refiling for either of the programs are free. More kinds of fees are available on the Netspend website. The table below summarises the basic fees for both the Monthly Plan and the Pay-As-You-Go one.
|Plan Name||Pay-As-You-Go Plan||Monthly Plan|
|Plan fee||$0 per month||$9.95 per month|
|Per purchase||$2.00 per month||$0 per month|
|ATM withdrawal||$2.50 per month||$2.50 per month|
|Balance Inquiry – ATM or Telephone Automated Service||$0.50 per month||$0.50 per month|
|Cash reload||$3.95 per month||$3.95 per month|
|Live customer service (per call)||$0.50 per month||$0.50 per month|
|Inactivity (after 90 days With no transaction)||$5.95 per month||$5.95 per month|
If you are looking for simplicity and value for your money, then the Monthly Plan will suit your case. You will also enjoy direct deposits and unlimited transactions. The Pay-As-You-Go Plan is good if you want flexibility in your card usage. Thus, if you are unsure how often you will use the card each month, the Pay-As-You-Go plan is all you need.
How do I save with a Netspend Savings Account?
As I mentioned earlier, Netspend allows you to spend money on your card and helps you save money and earn some interest. The savings account is optional to Netspend account holders. The card has 5% APY. Furthermore, the account has no minimum balance requirements. Interestingly, the account has no fees to open and does not require you to deposit anything when opening it.
Interest compounding is daily, and the maximum numbers of transactions you can do are six per month. It is important to note that the 5.00% APY applies to balances of $0 to $1,000. For balances amounting to $1,000.01+, the APY is 0.50%. Generally, the advantages of having the Netspend savings account are that;
- You get high APY
- There are no minimum balances.
- You can set up a direct deposit of up to 25% of the total amount you receive in your account.
- You can easily manage your money by utilizing the available money management tools.
Unfortunately, the Netspend Savings Account is not available for the residents of Vermont. The account does not support direct deposit as you have to load money to your card to transfer what to save to the savings account.
What should I do if I lose my Netspend card?
If you lose your Netspend card, do not assume all is well. You should call Netspend at 1-86-NETSPEND (1-866-387-7363). They will lock the card so that someone else cannot use it once they collect it by the roadside. You can also log into our account online, navigate the Help tab, and report your case.
Once they lock the card, you can begin the old card replacement process that comes at a fee. To ensure the ultimate security of your account, never share your PIN with anyone. Never write the PIN on the back of your card or anywhere else that others can reach.
Also, never share your Card Account number with anybody. You should thus never let your family members make any unauthorized transactions with your card. Signing up for anytime alerts can be a good move so that you can always get notifications on your phone anytime a transaction goes through.
How do I close my Netspend account?
If you no longer need your Netspend Card account, you can decide to close it. Before then, you should ensure that you exhaust the available balance. You can do so by;
- Withdrawing all the money at an ATM
- Spending all the money to buy goods and services
- Call to request a check (at the cost of $5.95) for all your money. The check arrives within 3-4 weeks.
Once there is no money in your account, you can call 1-866-387-7363 or log in to your online account and close your account.
Is Netspend Card secure?
Security of your money is always a priority for debit and credit cards. The Netspend card is secure since it requires you to use a PIN to access your account. Their online security is also vital to ensure that no one can access your information. They do data encryption so that no one can access your details.
Also, you can enable anytime alerts that help you to identify unauthorized transactions. You should also avoid opening your account via public WiFi since such networks allow easy access to your information.
You can receive money in your Netspend card account from people via various means. Netspend to Netspend money transfer is the common way that you can receive money from someone else. A Netspend account allows you to save money for future use as you earn interest.
You should always keep your card information private. Once you lose your card, report the matter to Netspend immediately. Replacing a lost Netspend card is possible at a fee.