Netspend is a global payment company with headquarters in Austin, TX. The company is an agent of the Bancorp Bank, National Association, MetaBank®, and Republic Bank & Trust Company. The banks mentioned above are the ones that issue the Netspend Visa Prepaid Card. The card enables you to perform various kinds of transactions, including transferring money to a bank account. I shall take you through how to transfer money from Netspend to bank account step by step later on.
You can operate your Netspend card online using your smartphone or computer. Here, you can pay bills online, send money to other Netspend users online, buy goods and services as well as check your balance, among other things. Therefore, having a Netspend card is very convenient as you have access to your money at any time of the day. You can get the app from either the Google Play Store or App Store, depending on the operating system you are using with your phone.
Netspend Visa Prepaid card has FDIC insurance. It means that your money is safe in case the company collapses due to specific economic difficulties. If you save money with a financial institution that operates without any form of insurance, then you can lose your money entirely if such a business collapses. FDIC insures funds up to $250,000 per deposit in a bank under the insurance scheme.
How to transfer money from Netspend to a bank account
If you want to transfer money from your Netspend card account to a bank account, you have to use indirect means since Netspend does not allow the transfer of funds to a bank account. However, you can transfer money from a bank account to Netspend.
There are various options you can use to avail money from Netspend to your bank account. Let us look at each one of them one by one.
i) Use PayPal
Netspend works with PayPal, and you can link your PayPal account with Netspend to transfer money. To link Netspend to PayPal, visit PayPal and sign in to your account, then connect your card to PayPal. If the linking is successful, you can thus request funding from the Netspend card. The specific amount to transfer to PayPal will move from the balance on the Netspend card to PayPal.
Once the funds reflect in your PayPal account, you can then withdraw them to the bank account of your choice. However, you must link the bank account to your PayPal account if not yet connected. To connect your bank account to PayPal, you need to;
- Log into your PayPal account
- Click Wallet located at the top of the page. When using a smartphone, you can tap Menu then Wallet
- Click ‘Link a bank account’
- Choose your bank, or tap the ‘Don’t see your bank?’ at the bottom
- Link you bank
You can either link your bank instantly, whereby you need to log into your bank account to authorize the process or link it manually. When you choose to link your bank instantly, PayPal can match your account details with your bank, and if they are correct, then your bank appears in the lists of linked banks immediately. For manual linking, you have to confirm your details for a successful linkage.
When you have the Netspend card linking to your PayPal account and then linking PayPal to your bank account, you can request funding of a certain amount of money from Netspend and then withdraw it to your bank account. Withdrawing funds from PayPal to a bank account takes around 3-5 business days for the money to reflect in the bank account.
ii) Withdraw at an ATM and then deposit in your bank account
You can use this trick to transfer money from your Netspend account to a bank account. Netspend allows you to withdraw cash at an ATM. If you want money in your bank account to use for various transaction purposes, this can be a trick.
Sometimes you may have to purchase something or make a certain payment using your bank account, and if the money is in another type of account, such as Netspend, you will have to do all that is possible to move it to your bank. ATM withdrawals out of the net will see you part with $2.5 per ATM withdrawal. However, on-net, ATMs are free of charge.
iii) Withdraw at Walmart
Interestingly, Walmart allows you to withdraw money from Netspend at their centers. They charge about $3.75 per withdrawal, and the daily withdrawal limit is about $5,000. Moreover, Walmart supports the direct deposit of money to a bank account. Once you have withdrawn money from your Netspend card, you can request the attendants to deposit it in your bank account.
Moreover, Walmart allows you to reload your Netspend card for use in your transaction purposes. If I need to deposit, let’s say, $1000 in my card account, I will present the cash to the attendants and request them to deposit money in my card account.
iv) Use Western Union
Western Union is a reputable money transfer platform that has been around for years. The company works with Netspend, and you can receive and transfer money between accounts in the two financial companies. Western Union has a Western Union Netspend Prepaid Mastercard. If you transfer money from your Netspend card to Western Union, you can then transfer the funds to a bank account.
For you to transfer money to your bank account, you have to;
- Sign up for a free account with Western Union and verify it using original documents such as government ID, driver’s Licence, or any other legitimate identification document.
- Choose the amount to transfer as well as the bank account.
- Enter the receiving bank account details.
- Select the payment method. Here, you can choose to Pay with your Netspend card.
- Confirm and send. You can track the transaction progress using the tracking number (MTCN).
How do I top up my Netspend account?
There are various methods you can load money into your Netspend card account. I have already mentioned Walmart that allows you to load your Netspend card at its physical stores. Other options include the following.
1. Receiving money from other Netspend cardholders
To top up my card, I can request someone else with a Netspend account to send me money to my netspend card. The sender only needs your name and FlashPay ID. You can always access the details in your Online Account Center.
2. Use a bank account
Netspend allows you to recharge your account using your bank account. You can make direct deposits utilizing the routing and account number of your Netspend account. You can text DIRECT to 22622 to get your routing and account number if you enrolled for the service.
3. Mobile check deposit
You can snap checks using the Netspend app to make online deposits. When logged in to your Netspend account, select “Mobile Check Load” from the menu and follow instructions to the end.
4. Use PayPal
Since PayPal works with Nestspend, you can quickly load your card from your PayPal balance. You only need to connect your PayPal account with your Netspend card, and you are good to go.
5. Use Netspend reload locations
Netspend has more than 130,000 convenient locations in the U.S where you can reload your cards for convenience. If you are near one, you can opt for the option. You can find the locations from your app.
6. Via tax refunds
You can instruct the IRS to deposit funds electronically into your Netspend account.
How do I get a Netspend card?
Getting the Netspend Prepaid card is easy. You only need to fill in the online form at the Netspend website and wait for your personalized card. Application for the card is free, and you will need to provide your name, date of birth, street address, and other information for easy identification when activating it.
There are also no credit checks to get the card. The street address helps Netspend know exactly where to deliver your card, and thus you have to be very keen when entering your details. The card arrives between 7 to 10 business days upon placing your order.
To activate your card, you have to download the Netspend app from the relevant site and open it to activate. You can scan the card’s Quick Response code or enter the card details manually. When entering the card details manually, you have to enter the card number and the security code of the card. Next, you will enter the details you entered when registering for your card. All these will help to determine if you are the actual owner of the card.
You will also have to answer a few security questions to safeguard the card. You can also sign up for direct deposit by following the sign-up instructions that come with the card. Alternatively, you can call the number provided with the package to get assistance from customer care.
Is Netspend prepaid card worth applying for?
The card comes with a lot of advantages. The most exciting thing about the card is the ability to accept direct deposits. You can have your salary arriving two days earlier if the direct deposit feature is working. Other benefits that come with direct deposit include the following.
- Supplemental Security Income (SSI)
- Social Security payments
- Pension and other regular payments
- Social Security Disability Insurance (SSDI)
- Railroad Retirement Benefits (RRB)
- Veterans Administration Compensation and Pension
- Defense Finance and Accounting Service Payments (DFAS)
- State unemployment benefits
Other benefits of having the card are the ability to send money to other Netspend card users online. Just as you can transfer money from one bank account to another online, you can send someone else money using their name and FlashPay ID.
Moreover, you can pay for goods and services online. When shopping online, you only have to add the card to your online shopping platform. These include your card number and the security code.
Moreover, you can earn points when you purchase from qualifying stores and later redeem your points or particular merchandise. It helps you save substantial amounts of money for future use.
How can I find my account and routing number in Netspend?
The account and routing number help in direct deposits. You can find your routing number in the following ways.
- Log into your online account and navigate to the ‘Direct Deposit’ from the main menu. You will see the card account and routing numbers in a grey box, and you can copy and share them with your friends.
- Alternatively, you can enroll in the ‘Anytime Alerts’ and receive your account and routing number by texting DIRECT to 22622, and Netspend will send the numbers to you.
Does Netspend give loans?
Unfortunately, Netspend does not give loans to the account holders. However, you may receive loans from other financial institutions into your Netspend account.
Can I save with Netspend?
Yes, you can save with Netspend. You can transfer funds from your Netspend card account to your savings account. The option allows you to plan for your future instead of just spending money.
How do I protect my card account?
There are various ways you can protect your account from losing money. Times have changed, and thieves are stealing from every corner. There are various methods that you can use to protect your card account. These include the following;
- Always log out of your account if you use someone else’s phone or computer. Moreover, use only secure internet connections and avoid using public WiFi at all costs.
- Never tell or show anyone you’re PIN. If you suspect that someone has known your PIN, change it immediately.
- If you lose your card, report it immediately to customer care. You can call the toll-free number, 1-866-387-7363. Alternatively, you can sign in to your account and notify the customer care team about the lost card before it is too late.
The good news is that you will be able to order a new card once you report the lost one.
What are the Netspend transaction limits?
Like many other financial companies, Netspend has some restrictions on various kinds of transactions. When purchasing items, you can only spend up to $4,999.99 every 24 hours. Again, over-the-counter withdrawals go up to $4,999.99 every 24 hours. When withdrawing at an ATM, you can only get $325.00 per withdrawal, $940.00 per day, up to six times per 24 hours.
It is not possible to transfer money directly from Netspend to a bank account. However, you can use indirect ways to avail yourself money in your account. PayPal is one of the most appropriate ways that you can use to move money from Netspend to a bank account.
Having a Netspend card is advantageous because you can receive direct deposits, send money to others online, Withdraw money at ATM points and pay for goods and services.