| Last updated on December 11th, 2023
Netspend® Prepaid Card
Netspend® Prepaid Card
Netspend® Prepaid Card
At a Glance
The Netspend® Prepaid Card can be a useful alternative to a traditional credit card by giving you more control over your spending and doing away with the fear of having your credit score negatively impacted.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Get paid faster with Netspend Direct Deposit
- No late fees or interest charges
- Can be used anywhere Visa Debit cards are accepted
- Choose from various card designs
- Foreign Transaction Fee: 3.5% of the transaction amount in U.S. dollars
- Minimum Deposit Required: $10
- You're looking for a prepaid card that offers cash back rewards
- You don’t want a card that reports to the major credit bureaus
- You want a convenient payment method that won’t impact your credit score
- You're looking for a card in which you can automatically deposit your paycheck, government benefits, or tax refund
Netspend Prepaid Card Review
Prepaid debit cards are a great option for the underbanked. People with poor banking histories – including bankruptcies, liens, and more – can benefit from cards like the Netspend® Prepaid Card by accessing vital banking tools without needing a credit check or traditional bank account.
Like other prepaid cards, the Netspend Prepaid Card (either Visa or Mastercard) offers many of the perks of a debit card, plus the added protection and security you’d expect from a credit card. The card provides a reloadable alternative to traditional banking.
Choose Visa or Mastercard
The Netspend Prepaid Card comes in two versions: Mastercard and Visa. Both Visa and Mastercard are widely accepted payment networks, so having either logo on the card ensures that it can be used with most credit card merchants. Here is how the two offers compare:
| Visa | Mastercard |
|---|---|
| Dovly Uplift™ credit score monitoring | Mastercard Global Service |
| ID Navigator Powered by NortonLifeLock | Mastercard ID Theft Protection™ |
| Visa Zero Fraud Liability | Zero Liability Protection |
| Lost/Stolen Card Reporting | Mastercard Airport Concierge™ |
Get Paid Two Days Faster with a Direct Deposit
Netspend Prepaid Mastercard holders can access their direct deposits up to two days earlier than usual. Banks wait to make deposit funds available once the amount settles in the account. With Netspend, however, the deposit enters your account once payment instruction is received, meaning you can access your hard-earned money when you want it, not when the bank decides to allow it.
Other Banking Features
Beyond direct deposits, Netspend makes check cashing a breeze with its Mobile Check Load service. Mobile Check Load allows you to load checks to your account at your convenience without the hassle of waiting in line at a store or customer service desk. Getting the mobile check service is simple: download the Netspend mobile app, select “Mobile Check Load” from the menu to the left, and follow the instructions. Sometimes, your money will be available in minutes – although fees might apply.
A Prepaid Card with Rewards
The Netspend Prepaid Card has the option of an opt-in rewards program – Payback Rewards. This program allows you to earn cash back on select purchases, with the rewards being applied to the account balance – no gift card can offer that.
Payback Rewards keeps track of where you like to shop and picks deals we think you’ll love. In the app, activate the offers you want and spend. It is similar to the More Rewards programs that Chase, Amex, and other issuers offer. This program won’t outpace a typical cash back or points-based rewards system, but it is a nice feature not found with many prepaid banking options. The Netspend Prepaid Card can be used anywhere Visa or Mastercard is accepted worldwide.
A Prepaid Card with Rewards
The Netspend Prepaid Card has the option of an opt-in rewards program – Payback Rewards. This program allows you to earn cash back on select purchases, with the rewards being applied to the account balance – no gift card can offer that.
Other Debit Card Options to Consider
| Albert Mastercard® | GO2bank Visa® Debit Card | Yotta Debit Card | |
|---|---|---|---|
| Feature #1 | Earn $150 when you receive a qualifying direct deposit and use your Albert debit card | Overdraft protection up to $200 with opt-in and eligible direct deposit | The only debit card that could literally make someone a millionaire including odds up to 1 in 100 Yotta will cover your entire purchase |
| Feature #2 | Earn cash back rewards when you buy groceries, gas, food and more with your Albert debit card | Free nationwide ATM network Refer a friend, and you both get $50 | Earn 10% of your purchase amount back in the form of tickets into the following week’s sweepstakes |
| Direct Deposit | Get paid up to 2 days early | Get paid up to 2 days early | Get paid up to 2 days early |
What We Like About Netspend
One of the best aspects of the Netspend prepaid card program is the ability to access many of the banking features typically found with traditional bank accounts. Far too many Americans (and foreign residents) are underbanked due to the high costs of opening some accounts and several other reasons. Netspend simplifies this process by providing an affordable alternative to costly banking products.
Things to Consider
That’s not to say everything is great with the Netspend program. For starters, there are plenty of fees with the card. And while these fees are less than you might expect from a bank, they can still add up quickly. Here is the current Netspend Prepaid Card fee schedule:
| Charge | Fee | |
|---|---|---|
| Card purchase | $1.00 | |
| Monthly fee | $5.94 (free with $500+ in direct deposits) | |
| Cash deposit | $0 (Walmart app); $3 (Walmart registers); $5.95 (elsewhere) | |
| Walmart check cashing/reload | $0 | |
| ATM | $2.50; $0 (at Walmart MoneyCenters and Customer Service desks) | |
| Teller withdrawal | $2.50 | |
| Overdraft | $15 | |
| ATM inquiry | $0.50 | |
| Foreign transactions | 3% of the transaction cost in U.S. dollars | |
| Checks | $5.95 | |
| Card replacement | $15 (expedited); $3 (regular) | |
Netspend Ratings
How does the Netspend stack up? Here are a selection of expert reviews for the card and company:
| BestCards | Better Business Bureau | TrustPilot |
|
2.5/5 |
N/A |
4/5 |
Should You Apply for the Netspend Prepaid Card?
Prepaid cards are an excellent option for those who want the benefits of a credit card but without the restraints of a credit card or a typical checking account. Since prepaid cards don’t require a credit check, they are a great option for anyone with poor or bad credit or don’t want the hassle of a traditional card.
The Netspend® Prepaid Card is perfect for this role, as it provides easy access, the option of getting paid two days earlier, and no monthly fees. The addition of rewards on eligible purchases makes this a prepaid card with a difference – and one that you should carefully consider in lieu of a credit or debit card.
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