![]() To keep that money in your pocket, order your card online for free. Tip: Although Netspend cards are available for purchase at partner retailers such as Walgreens, CVS and Walmart, you’ll pay up to $9.95 in third-party fees. This includes choosing a PIN for ATM withdrawals and point-of-sale purchases.Īfter Netspend confirms your identity, you can add funds and start using your card right away. When you receive your Netspend card (about seven to 10 business days later, unless you pay for expedited delivery), follow the activation and identity-verification instructions that come with it. You can customize your card with an image of your choice, but a $4.95 fee applies. You’ll then choose a card design from among four options. You’ll be asked to review the fees associated with the card, the cardholder agreement and Netspend’s privacy policy, as well as select the direct deposit options you’re interested in. To get started, fill out the online order form with the requested information. Signing up for a prepaid Netspend card is fast and easy. Primary cardholders need to be at least 18 years old, but Vermont citizens need not apply, as residents of the Green Mountain State are ineligible for a Netspend account. You’ll have to verify your identity by providing your name, date of birth, address and a government ID number, like the one on your passport or Social Security card, to have full use of the Netspend card, otherwise you can only make in-store transactions. Netspend doesn’t require a bank account or run a credit check, so pretty much anyone can qualify for a Netspend card. In addition, Netspend cards are compatible with PayPal and Western Union, allowing you to send money to friends and family and transfer funds between accounts as needed. Replenishing your Netspend balance is easy thanks to a variety of loading options (more on that below). Netspend cards are issued by The Bancorp Bank, MetaBank and Republic Bank. Otherwise, you can use a prepaid Netspend card as you would any other card: to make purchases, pay bills, cash checks, receive deposits and withdraw money from ATMs.Ī Netspend card offers some of the same features as a traditional bank card, including on-the-go account management via mobile app, customizable text alerts, virtual account numbers to help protect against fraud and identity theft, zero liability and federal deposit insurance through the issuing bank. Netspend’s prepaid cards function similarly to debit cards, but with one crucial difference: they’re not tied to an existing bank account. Over the last 20-plus years, Netspend has grown to more than 5 million active accounts. What is Netspend?įounded in 1999, Netspend is a financial services company that specializes in reloadable prepaid debit cards for consumers who lack access to traditional banking or typically rely on “alternative financial services” such as check-cashing businesses or high-priced payday loans. Netspend is a provider of prepaid debit cards on the Visa and Mastercard networks - keep reading to learn more about how they work, their pros and cons and the fees you need to watch out for. Prepaid cards offer unbanked individuals in particular, many of whom don’t trust banks or earn too little money to open an account, an alternative way to manage their money. However, for roughly 63 million unbanked or underbanked adults, navigating an increasingly cashless society without full access to banks can make even the most basic tasks difficult, if not impossible. It’s how most of us get paid and otherwise conduct the business of day-to-day life: the quick grocery-store run when you realize you’re out of toilet paper, the swing by the drive-through to avoid having to actually make dinner. ![]() For a majority of American adults, it’s hard to imagine not having a bank account.
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