Netspend prepaid Visa cards and Master cards are the well-known prepaid debit cards that require no credit check and no minimum balance. The every transactions made in Netspend prepaid card are ensured by the Federal Deposit Insurance Corporation (FDIC) up to the current coverage limit. The Netspend Prepaid cards can be easily used anywhere Visa Debit cards and MasterCards are accepted. The cardholders can also take the advantage of online shopping and in-store purchase over the phone. They can even withdraw cash from any ATM in all over the world.
How does Netspend Prepaid Card work?
You just have to sign up for a Netspend prepaid card and you’ll receive your card within 7-10 business days. You must need to verify your identity as the company didn’t limit the usage of card without verifying the identities. However, there’s no credit check while processing your card.
Netspend send the alerts off your every transactions via phone so you get all the details about the transactions that when you receive deposits or when you’re going out of balance and when the transaction gets declined. If in case, someone uses your card fraudulently then there’s nothing to worrying about as these cards comes zero-liability fraud protection.
You can even enroll a protection plan of your Netspend card that can cover the overdrafts up to $10. You can use the Netspend card at any location that accept MasterCard or Visa whenever required as long as you have funds in your account.
Is Netspend legit?
The Netspend prepaid cards are generally processed by MasterCars and Visa. While prepaid cards are available with no credit check but charges some fees. Although, you don’t need a bank account to use Netspend cards but it requires to be eligible for direct deposits that can get you paid within two days which is quicker than a paper work. Netspend offers some extra features to the cardholders such as a mobile app that allows you to deposit paper checks through using your smartphone. Therefore, this provide you a better convenience option that help you to pay bills on time when you don’t have time.
Pros of Netspend
- Provide easy access to withdrawing and adding cash within a retailers network.
- Courtesy cushion and overdraft grace period available with optional overdraft coverage.
- You can receive your paychecks two days earlier with direct deposits.
Cons of Netspend
- Optional overdraft service cost $20 in five times per month.
- No free network for cash withdrawals or reloads.
- Requires monthly fees for basic fee plans and there’s no way to waive the complete fees.
Conclusion
Netspend is a prepaid card company that offers an alternative to checking account cash, credit cards, and debit cards. This company make its money through a variety of fees such as transactional fees, monthly plan fees, replacement card fees, inactivity fees, and ATM withdrawal fees. Although, Netspend is different from prepaid cards, credit card but still can be used and accepted if the card has one of the logos of MasterCard or Visa.