Got a NetSpend Card and are looking for ways to redeem it, you are on the right post to get the complete details. NetSpend is one of the popular prepaid cards that come in different types, the popular ones including NetSpend Prepaid Visa Card and NetSpend All Access Card. In this guide, you will get the complete walkthrough of all the steps involved to redeem your NetSpend Card, right from starting with how to activate the NetSpend card to redeem it.
NetSpend cards have wide acceptability, being Visa or MasterCard branded. So you have a number of options to redeem it (although not as much when you compare it with debit or credit cards)
You can redeem the NetSpend card by using it for purchases at a store, or online shopping, transferring the card funds to a wallet or your bank account, sending the money to your friends or family members, or withdrawing cash from ATM.
But there are always pros and cons for every option and you need to check the fine print as some avenues involve fees (NetSpend has a lot of fees) when it comes to redeeming it.
Now, when we talk about fees which you should definitely keep in mind when redeeming your card, NetSpend charges a $1 fee for PIN and signature-based transactions and $2.50 for ATM withdrawal. This is if you are on the pay-as-you-go plan, that does not have monthly fees. On the other hand, if you are on the monthly plan, there are no purchase transaction fees (ATM fees still apply), but you pay a flat fee of $9.95 per month.
Also, there are many variants of NetSpend Cards and not all of them will give you the same options.
Before redeeming the NetSpend card, the first step is to activate or register it. You can do this online on the NetSpend website or by downloading the NetSpend App on your phone (steps are covered below)
Another point you should note is that you must be at least 18 years of age to register a NetSpend card in your name. If you are less than 18 and want to use a NetSpend card, you can have your parent activate the card as a primary account holder and then add you as a secondary card holder
With that context, let’s look at the detailed steps to activate and redeem NetSpend Cards.
The Netspend Visa Prepaid Card can be from any of the banks that include names like The Bancorp Bank, Axos Bank, MetaBank, and Republic Bank & Trust Company. You will find the bank name for your card on the back of your NetSpend card.
Activating the NetSpend Card
To activate the NetSpend Card, follow the steps below:
Using the NetSpend mobile app
- Download and install the Netspend App on your phone
- On the home screen, tap on the Activate button
- Next, key in the details of your card number and security code (on the back of the card). You can enter these details manually or by snapping a photo of your NetSpend card with your phone camera
- Tap on the ‘Continue’ button to proceed
- Next, you will be prompted to enter your email, set username, password, and security question for the card
- Next, create a 4-digit PIN for the card (this PIN will be used for ATM withdrawals, and other purchases)
- Next, verify your identity by entering your legal name, home address (PO box won’t work), Zip code, and Social Security Number – NetSpend is legally required to collect these details
- Next, read and accept the terms and conditions, if agreeable
You will get the confirmation that “Your card is activated”
On NetSpend Website
- Go to the link on the NetSpend website
- Enter your card number and security code
- Follow the steps above (as followed for the activating using App)
How to Redeem Your NetSpend Card
You can redeem a NetSpend card by making a purchase at a retail store, or online, transferring money to wallets, transferring money to a friend (who is on NetSpend), withdrawing the money from ATM, or transfer to your bank account.
Redeem by making a purchase at a Store
NetSpend is allowed as a payment method in many groceries, drug, and retail stores like Walmart, Walgreens, etc.
You can also add the card to Apple Pay or even Walmart Pay if you plan to use it at Walmart.
So you can simply use your NetSpend card to make a purchase at stores.
Fees- $1 for PIN and signature-based transactions (if you are on the pay-as-you-go plan)
Purchase Online with your NetSpend Card
You can redeem your NetSpend card by making a purchase online at the store website or app.
You can add it just like a normal debit card to make your purchases.
Fees- $1 for PIN and signature-based transactions (if you are on the pay-as-you-go plan)
Transfer NetSpend Money to a Wallet-Cash App or Venmo
You can also add your NetSpend card to a payment wallet like Cash App or Venmo. It is accepted as a payment method, similar to a debit card.
You can check our guide on how to add NetSpend to Venmo.
This makes it really convenient to use the funds on your card, for your daily payments. Or you can simply add the funds from the card to your Cash App or Venmo wallet.
Fees – Usually no fees are involved to load money from NetSpend to wallets
However, if you are looking to cash out your funds from your wallet to your bank account and want to instant transfer- keep in mind that Cash App has a variable fee of 0.5% to 1.75% fees for instant deposit, and Venmo charges 1.75% (Max $25)
Transfer Money to Friend- Using NetSpend FlashPay
If you have a friend or family member who has a NetSpend card or account, you can use the NetSpend FlashPay service to directly transfer funds from your card to them.
NetSpend account comes with a FlashPay id which is your unique identifier for an account- that works just like an account number. Using the NetSpend app, you can do a direct transfer from one NetSpend account to another, if you have the FlashPay id of the recipient.
Withdraw the NetSpend card money from ATM
If you want to get NetSpend card funds in the form of cash, you can also choose to withdraw the money on your NetSpend card from an ATM.
Fees- $2.50 per withdrawal (not cheap at all)
Transfer the NetSpend Money to a Bank Account [via PayPal]
If you have a PayPal account, you can also use that as a link to transfer your NetSpend card funds to a bank account.
To use this method, follow the steps below:
- Add NetSpend card as a payment method in PayPal
- Add the funds from the NetSpend card to your PayPal Account
- Move the funds from your PayPal account to your bank account via instant transfer (1% fees) or standard transfer (free but takes 1-3 business days)
You can actually transfer funds to bank account, even with the payment wallets like Cash App or Venmo. But for instant transfer to a bank account, PayPal has a lower fee rate of 1% compared to Cash App or Venmo.
Checking NetSpend Card Balance
At any point in time, you can check the balance on your NetSpend account-
- Online at NetSpend Website or the NetSpend App
- Send a text with the letters “BAL” to 22622
- Call Netspend’s toll-free number at 1-866-387-7363 (chargeable at a $0.50 service fee)
If you face a situation where you want to get money off your NetSpend account without your card, here are a few ways in which you can do this.
Wrapping Up
While NetSpend has wide acceptability and a number of avenues to redeem your card funds, it does have issues with fees. Hope this post gave you all the information necessary to get your NetSpend Card redeemed.
