Guide to using Netspend
Netspend is a prepaid debit card that was introduced in 1999 as a payment solution for consumers who may not have traditional bank accounts or who prefer to use alternative financial services. It's also a convenient solution for parents and college-age children to maintain a budget on set amounts of funds rather than rely on a traditional credit card. Today, Netspend partners with major companies like Walmart to conveniently bring the card and all its services to shoppers like you. Millions of people around the country enjoy the advantages of having a Netspend account.
A prepaid card looks like any other debit or credit card. The difference is that you load money onto it first before using it. Some other differences include:
- Credit score: Using a prepaid card never affects your credit score because there's no credit being extended to you in order to use the card.
- Credit check: There's no credit check to obtain and use a prepaid card.
- Safer:You can use a prepaid card to make purchases online or over the phone without worrying about the risk of being hacked and becoming a victim of fraud or having your banking information stolen.
Order from Walmart
- Simple form: Simply fill out an online application to receive a Netspend Visa Prepaid Card.
- No hassles: There's no activation fee or minimum balance necessary to use a prepaid card. You'll need to verify your identification when signing up for the account per the USA PATRIOT Act, which fights the funding of illegal activities.
- Plans: Choose from three tiers of plans with monthly fees. One is a no-fee plan with small fees per transaction. There's a mid-tier plan with a small per-month fee with free, unlimited transactions. You can also choose a direct deposit plan with a small monthly fee and free transactions.
Reload at Walmart
- At the register: Take your cash and card up to any register for a Rapid Reload. Depending on the location of the Walmart, there may be a small fee to reload.
- Transfer money: You can transfer money between Netspend card accounts.
- Checking balances: You can always check your card balance for free by logging into your online account center. There, you'll see if you need to reload.
- Anytime Alerts: Receive a fee-free text message with your account balance after each transaction or text to Netspend to receive your balance. Remember that your wireless carrier may charge a fee for messages or data use.
- Call: Check balances by calling a toll free number for a small fee.
- Checks: Upload checks with a couple of photos with Netspend's Mobile Check Load function. It just takes a few minutes to up to an hour for approval before funding your card.
Shop with Netspend
- Use anywhere: Use your card anywhere you'd use a credit or debit card, including online, in stores and over the phone for nominal transaction fees.
- ATM: Netspend cards also have the benefit of being able to withdraw cash at ATMs for small fees.
- Rewards: Earn cash back for every day purchases using a Netspend card. Cash back rewards are credited to your card account.
Pay bills with Netspend
- Fast payment: When you need to pay a bill fast, use Netspend's MoneyGram Express Payment Service for a small fee.
- Regular payment: There may be a small fee for ACH debit/preauthorized payment transactions.
Other card benefits
- Coverage: A premier plan covers you for a small amount of money on a purchase if you're short. Just cover the overage the next time you load your card.
- Faster pay: When you set up for your paycheck to be directly deposited onto your Netspend card, you may receive the funds up to two days faster than you would if you were to receive your pay by paper check.
- Faster refund: Set up your tax refund to be direct deposited onto your card for faster access to the money.
- Faster benefits: If you receive government benefits, you can set up direct deposit on your card and you'll receive your funds up to two days faster than you would if you waited for a paper check.
- No fee: There's no fee to set up or use direct deposit with Netspend.
USA PATRIOT Act
The USA PATRIOT Act is a law passed shortly after September 11, 2001 in the United States. The law accomplishes many things, but as it relates to opening an account, it's intended to make sure that no funds are used for terrorism or money laundering activities. When opening a Netspend card account, keep the following in mind regarding what you might need to provide to comply with the USA PATRIOT Act:
- Date of birth
- Driver's license
- Potentially any other identifying information
If your identity can only be partially verified, you may have limited use of your card for in-store purchases."