Netspend prepaid cards usually differ from business credit cards. Netspend cards are generally an expensive alternative provided to checking accounts. They are super easy to get without any credit check. However, you need to choose between paying a fee in every transaction or paying monthly fees to make your purchases. There is a convenient nationwide network for more than 120,000 locations of Netspend cash reloads but provides no free access to ATM withdrawals.
How does Netspend Prepaid Card work?
With a Netspend prepaid card, you can simply enjoy the freedom to handle all your finances from one account. You can shop anywhere using a Netspend card or pay bills online from your phone to avoid late bill charges. You can even send money directly from your phone or withdrawal cash from ATMs.
You can access your Netspend card account on your phone with its MobileApp or through Online Account Center for quick updates and to track every dime. You’ll also get alerts and text messages for every transaction and account details on your phone only.
Features of Netspend Card
There are lots of security features available on the Netspend card:
- These cards are FDIC insured through the issuing bank or institution of Netspend cards.
- You can also get the Virtual Cards that add a layer to control over your card from those who have your card number.
- It is protected against unauthorized purchases with zero-liability protection of MasterCard and Visa.
Pros of Netspend
- Netspend has more than 120,000 locations worldwide from where you can reload your card.
- There’s a variety of account options to choose like you can opt for a premium card with unlimited transactions or pay in every transaction.
- You’ll be provided with a low threshold to maintain and qualify your account.
- You don’t pay any fee or charge in case you need to send money to another Netspend account-holder.
- You’ll also receive some user perks like a friend referral bonus, cashback on purchases, and more.
Cons of Netspend
- Some load locations may not charge a fee while Netspend transactions but others can charge up to $3.95 to reload your prepaid card.
- Every credit union and ATM withdrawal charge you a cost of $2.50.
- You cannot pay the online bills directly from Netspend but to a third-party called MoneyGram and it will also cost you some fee.
- If you don’t even use your Netspend card for 90 days, you still have to charge $5.95.
- You can cancel your Netspend card anytime by charging $5.95 and receiving a check for your remaining balance.
Conclusion
Netspend can be a great alternative if you don’t have access to a bank or credit union. Netspend is an established company with many transactional protection and regulations for bank securities. You can easily use the card almost everywhere and even enjoy some perks keeping in mind that there are numerous fees in every transaction. However, if you need a less expensive option for your daily spending then you should consider the prepaid card of other companies.
