Netspend Visa Prepaid Card Review

Netspend Visa® Prepaid Card

The Netspend Visa® Prepaid Card provides convenience, safety and freedom to approximately 68 million consumers who do not have a bank account. Their products are intended to be used as a tool for people who do not have a traditional bank account or who prefer to use alternative financial services. Netspend is the leading provider of FDIC insurance's Visa® Prepaid, Prepaid Mastercard® and corporate prepaid card solutions through their US card issuing banks. Netspend provides you with prepaid products that allow you to process funds in your own way, thereby providing you with options in managing your finances.

Pros & Cons Analysis of Netspend Visa Prepaid Card


  • easy access to adding and withdrawing cash within a network of retailers

  • get your paycheck up to two days early with direct deposit


  • annual fee need

  • no free network for cash reloads or withdrawals

Netspend Visa Prepaid Card Highlights

Rewards: There is no sign-up bonus for Netspend Visa prepaid cards. However, if you recommend them and they deposit at least $40 on their card, you and your friend can each get $20. There is no clear reward program that can help you recover a lot of expenses, but your prepaid card does allow you to activate selected cashback offers at participating merchants through the Netspend Payback Rewards program. Unless you already have an account, the current offer is not visible, but it works in a similar way to card association programs such as Chase Offers. 

The Netspend card makes it easier for you to manage your finances: You can access important functions through your Netspend online account, but don't expect many benefits beyond account management and alerting.

High-interest savings: One advantage of this card is that you can get a high-yield savings account that provides 5% APY of the first 1,000 dollars in your account (any part of the balance will get 0.50% APY). Netspend offers two plans-pay-as-you-go plan and monthly plan. The pay-as-you-go plan is perfect for consumers who don’t use Netspend cards every day. On the other hand, monthly plans are more suitable for consumers who use Netspend cards more frequently because they will not incur any transaction fees. 

Free online application: If you plan to get a Netspend Visa prepaid card, the best way is to do it online, because the application is free. Buying a Netspend card from any retail location can cost up to $9.95. The pay-as-you-go plan does not have a monthly fee, and the monthly plan charges $9.95 per month. Fortunately, if you receive a paycheck or government benefit of at least $500 a month, you can reduce your monthly plan to $5. As for purchase transaction fees, the pay-as-you-go plan charges $1.50 for PIN and signature transactions, while the monthly plan does not charge any fees. For each cash recharge, you can be charged up to $3.95 using any plan, depending on how your card recharges (retailer or online). Using Mobile Check Load will incur a fee of 2% to 5% (or $5, whichever is higher) to speed up your check load based on the check type. The two available plans also require an ATM withdrawal fee of $2.95. In addition, checking your balance through ATM will cost you $0.50. Withdrawing money at the counter of a financial institution will incur a fee of US$2.95 or 1% (up to US$9.95), but reloading the network location at Netspend will also incur a fee of 2.75% (up to US$4).

FQA of Netspend Visa Prepaid Card

  • How much does it cost to order a Netspend card?

    After activating the card, you can choose from their chosen expense plan. To view the fee schedule and other fees associated with using the card, please refer to their fee schedule. When your card arrives, please activate it. Follow the printed activation and identity verification steps on the materials that came with the card.
  • How do I get a Netspend card?

    Fill out the quick online order and Netspend card will send you a personalized card! To activate your card account, you need to provide your name, street address, date of birth, and other information so they can identify you. They must collect this information in accordance with the US Patriot Act, a federal law that requires all financial institutions and their third-party service providers to obtain, verify, and record information that can identify each person who opens a card account. Residents of Vermont are not eligible to open a credit card account.
  • When will my Direct Deposit be available?

    Once the funds are deposited electronically into your card account, Netspend will allow you to use your funds immediately-this may be 2 days faster than you expected. Please note that your card account must be active (that is, a purchase, top-up or withdrawal has occurred, or a balance inquiry fee has been incurred within 90 days) and in good standing in order for the electronic direct deposit to be credited to your credit card account. Processing direct deposit requires that the name associated with the direct deposit is the same as the name associated with the card account. Applicable card load limit. Faster access to funds is based on the comparison of traditional banking policies and electronic direct deposits.
  • I need to pay a bill of Netspend Visa® Prepaid Card immediately. What are my options?

    If this option is available, you can call your bill and pay by phone using your Netspend card number. Netspend also provides a fee-based MoneyGram® ExpressPayment® service. Log in to the account center for more details and you should contact customer service immediately via their toll-free number or you can log in to the online account center to report your card is lost or stolen and then select "its account," "its prepaid card," and then "report card lost/stolen" from the main menu. A replacement card can also be ordered.

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