Withdrawal costs across various financial institutions are always a primary concern to people with money in such institutions’ accounts. No one would like to spend so much on withdrawals since they may lose a lot of money in the long run. If you have a Netspend account? You must be asking yourself, ‘Where can I withdraw money from my Netspend card for free?’ such a question is on point since we should always try to avoid unnecessary expenditures at all costs.
Well, in this discussion, I will explain to you in detail where to withdraw money from your Netspend account for free. You might also be having an account with a different institution from Netspend and might also find this helpful information, so just stay around. Since Netspend mainly operates with payment cards, you might even realize that a debit card from Wells Fargo, the Bank of America, or any other can follow tricks similar to Netspend to avoid withdrawal fees.
When talking about withdrawing without fees at Netspend, we are talking about how you can avoid ATM or over-the-counter fees for your card. Most ATMs charge fees when you withdraw with debit cards, credit, and prepaid cards. Usually, the cost is higher when you use an off-net ATM. Some banks and other financial institutions charge zero fees when you withdraw money from their ATMs and charge you a bit when you use ATMs outside their network to encourage you to stay with them all the time.
What is Netspend?
If you are hearing Netspend for the first time, then you must be wondering whether it is a bank, a credit union, or a mobile wallet money service. Well, Netspend is a financial institution that issues debit cards to customers. The company’s headquarters are in Austin, Texas, in the United States of America.
The company is a subsidiary of Total System Services Inc. consumers only need to apply for the Netspend cards and recharge them with cash for various transactions. If you have a company and face challenges regarding employee payment, Netspend can chip in and help you in Payroll management if you enroll in the service.
You will thus not deal directly with your employees’ payments. Furthermore, the workers will receive their salaries in good time even when you do not have money on the payment date. You will thus find your company performing well since the employees has adequate motivation.
The only challenge is that one cannot transfer money from Netspend to a bank account directly. However, there are other indirect methods to avail funds from a Netspend account to a bank account.
How does Netspend operate?
As I have indicated above, Netspend issues debit cards to consumers. Therefore, its operations rely on the debit card that you get from them. You can get Visa and MasterCard prepaid cards depending on your personal preferences. The cards have FDIC insurance, whereby if something goes wrong with the company, then your money will always stay safe. FDIC usually insures money in banks for the account holders.
Once you have the Netspend card, you can access your account online. It means that you have to open an online account once you receive the card to see your balance as you perform other transactions online conveniently. It is good to note that the card operates just like other prepaid debit cards from other companies despite minor differences.
What can I do with a Netspend Prepaid Debit card?
There are very various things you can do with your Netspend card. But the first thing you have to do is to ensure that the card has money. The card is useless if the balance is zero. With a Netspend card, you can do the following.
i) Buy goods and services
Cards are very convenient when it comes to buying goods and services. With Netspend, you can purchase items from stores that accept cards, such as supermarkets, wholesale shops, filling stations, restaurants, and grocery stores. You can either buy goods online or visit the relevant stores.
Buying goods online requires logging into your account and adding your card details to the concerned company’s payment platform. Furthermore, you have to use a secure e internet connection to avoid hacking and losing money to fraudsters.
Alternatively, you can swipe at the counter when you buy goods in physical stores. The machine can send information to the servers that then communicate with your issuing company, Netspend, in our case, which allows the transfer of the amount of money you have to spend to the merchant’s account instantly. Your account then reads less than the amount you have used. The exact process also happens for online payments.
ii) Withdraw money
With a Netspend card, you can easily withdraw money at an ATM. If the machine accepts Visa or Mastercard, you only need to insert your card and navigate to the withdrawal section after inputting your PIN. You can input the amount of money you want to withdraw and then hit okay.
At the ATM, you can also check your balance. Interestingly, the Netspend card operates both domestically and internationally. If you travel abroad, you can be sure that you will still access your money via ATMs for use.
When you withdraw at an ATM, Netspend charges you $2.50 per domestic ATM withdrawal and $4.95 per international withdrawal. If you are wondering how Netspend makes money, then charging withdrawal fees is one of the sure ways of making money. Furthermore, the company charges you $1 for any ATM withdrawal decline.
iii) Send money
You can send funds to other Netspend cardholders. As I indicated earlier, you cannot send money from Netspend to a bank account. It can be possible with debit or credit cards from other financial institutions, but Netspend rules dictate that Netspend to bank transfers are impossible.
For you to send money to other Netspend card users, you need account details. With a Netspend account, I can also request someone to send me money to my Netspend card from any source, even a different bank. Netspend can receive money from banks but cannot allow you to send money to banks.
iv) Save money
You can save money with your card if you plan a future undertaking. Saving money is an excellent financial practice that every individual should embrace. Netspend understands the importance of saving and allows you to keep some funds aside for future use. You need to move money from your Netspend regular account to your Netspend savings account.
The only problem with Netspend is that you cannot get a loan from them no matter how much you save. Netspend does not give loans to its card users. However, you can receive loans from other financial institutions such as banks and credit unions into your Netspend account.
Where to withdraw money from a Netspend card account for free
Netspend charges fees for withdrawals in ATMs and over-the-counter. However, if you want to save a substantial amount of money with Netspend, then you can utilize the free ways. The following are ways you can avoid fees at Netspend.
1) Use Metabank ATMs
If you find a Metabank ATM with the logo ‘who has privilege status,” then you can get surcharge-free withdrawals. Metabank is the bank that links to Netspend and is responsible for Netspend accounts management.
2) Use MoneyPass ATMs
If you have a MoneyPass Netspend ATM card, you can then withdraw for free at MoneyPass ATMs. You can use the ATM locater in your app to find the closest ATM point.
3) Visa Plus Alliance ATMs
The company partners with various financial companies to offer services such as free ATM withdrawals. Netspend works with Visa Plus Alliance ATM, and you can withdraw money for free.
4) Select debit and enter the PIN at select store outlets.
If you are buying goods and services at places that accept card payments, do not withdraw money from an ATM or any other relevant point to pay for your purchases. You can actually select the DEBIT option, enter your PIN and receive cash back instead. Such stores include groceries, restaurants, and retail stores. Walmart is one of the stores you can get cash back.
5) Receive money for free from your friend
Do you want cash, and you have a friend with a Netspend account? You can organize that you send the amount you need as cash in their Netspend account, and then they give you money. In that case, you will have to spend no fees to get the cash.
Where can I withdraw money from my Netspend account?
Money in your Netspend account is not just for use online or swiping at physical stores. You can as well withdraw it at various locations and use it for various needs. The following are the official places where you can withdraw money from your account.
1. Bank: Over the counter
Many banks will allow you to withdraw money from your Netspend card account over the counter but at a fee. So long their bank accepts either Visa or Mastercard, you are good to go. You can see that banks allow withdrawals by their account holders and those from other financial institutions so long as you have a debit card. You can withdraw up to $4,999.99 per 24 hours over the counter.
2. At an ATM point
I know I had mentioned ATM withdrawals earlier on, but it does not harm when I put it across once more. You can withdraw money at ATMs accepting the card, either Visa or Mastercard. The maximum amount you can withdraw is $325.00 per withdrawal and $940.00 per day. ATM withdrawals are quick as you can do it in minutes instead of queuing in a bank for several minutes or hours.
3. Withdraw at Walmart
Walmart is both an online and in-store retailer in the US. It charges $3.75 per withdrawal. If you are near a Walmart store, then it is opportune to cash out of your account at such stores. If you are withdrawing large amounts, then you will find it economical than when withdrawing little amounts.
How do I recharge my Netspend account?
If you wonder which ways you can top up your account to carry out various financial transactions, do not worry. My research leads me to the following genuine ways you can load money into your account. Have a look.
i. Use direct deposit
You can receive money into your account via direct deposits. You can opt for direct deposits by asking your employer to pay you directly in your account. If you receive government benefits, you can have the relevant authorities deposit money in your account via the direct deposit option. Moreover, you can link your card to a bank account so that you can transfer money from the bank to your Netspend account when necessary.
ii. At reload locations
There are thousands of reload locations across the country that you can use to recharge your Netspend account. You only have to visit such places with cash in your hands, and you are good to go.
iii. Receive money from friends
Since Netspend allows a person-to-person transfer of money, someone else on Netspend can send money to your account depending on your agreements. It can be a form of payment due to services rendered or cash exchange.
iii. Mobile check deposits
Netspend allows you to deposit checks online. Once they process the checks, you can then have money in your account. Online check deposit requires you to take a photo of the check on both the check’s front and back sides. You should also have the back of the check signed.
Can someone else use my Netspend card?
Yes. If you give someone else your PIN, they may withdraw funds at an ATM or use the card to pay for their goods and services at stores. You, therefore, need to keep your PIN private.
If someone collects your card, they may make online payments since all that is required is the card number and the security code. They may buy goods online or pay for other services only for you to realize that your account is empty.
What should I do when I lose my card?
If you realize that you do not have your Netspend card, the first thing you should do is to report to the Netspend customer care. You can call them directly or log into your account online and report the issue. They then lock the card so that no one else can use it in any way.
If you assume that things are okay, you can lose your money if a malicious person collects the card and decides to use it. Above all, you need to be very careful where you put your card because it is equally the same as money.
It is possible to withdraw money for free at Netspend select ATM places such as Metabank and MoneyPass. You can also use indirect ways to send money to a friend for cash exchange to avoid fees and eventually save something. Netspend account allows you to top up via various means such as via bank account, direct deposit, and via check deposits, etc. If you lose your Netspend card, you must report to Netspend customer care.