Is Netspend Reliable? 7 Reasons to Use Netspend Prepaid Debit Cards
Yes, Netspend is a legitimate prepaid card provider offering easy access without a credit check and strong mobile app support. While convenient, users face high fees (up to $9.95/month), ATM charges, and occasional customer service issues, making it suitable for supplemental, not primary, banking.
According to the Federal Deposit Insurance Corporation (FDIC), 7 million families in America are unbanked, which means they have access to a bank account or a credit union account.
For families that cannot qualify, and even individuals who have trouble managing their finances, prepaid debit cards like Netspend are a godsend.
Is The Netspend Prepaid Card Safe To Use?
Netspend provides a way out for financially troubled individuals who cannot benefit from a traditional bank account.
One of the prepaid debit market leaders, Netspend caters to more than 10 million customers and is reliable. If the sheer number of their customers is not enough to convince you of their legitimacy, you should know that Netspend cards are FDIC-insured.
You also have similar protection from unauthorized transactions as you would with a traditional credit or debit card through the Zero Liability Protection policy from MasterCard or Visa.
You are allowed six temporary virtual card numbers for each active card account, which you can cancel post transaction for fraud protection. You can avail of the virtual accounts service by logging into their online account center.
Netspend has been a prepaid debit card provider since 1999, with over 130,000 reload locations, which further cements their authenticity.
Why Should You Use Netspend Prepaid Debit Cards?
- No Credit Check Needed
- Early Direct Deposit and get Access paychecks up to 2 days early.
- High-Yield Optional Savings upto 6.00% APY on linked savings.
- Convenient Reload Network and you can Add cash at 130,000+ locations nationwide.
- Fraud protection, card controls, and real-time alerts.
- Optional Overdraft Protection
- Accepted anywhere Visa or Mastercard debit cards are used.
Netspend cardholders are not the only individuals who cannot qualify. Some people use them alongside a traditional checking account to manage their own money better.
With no activation fee or minimum balance requirement, Netspend proves to be excellent for monthly budgeting; since you can only spend just as much money as you load.
There are various other benefits to owning a Netspend card.
1. No Credit Check
Netspend requires no credit check, and you can get yours with just the submission of a simple form since the card works so that you can only use the loaded funds. Therefore, it has no impact on your credit score.
2. Make Direct Deposit
One of the highlighting features of Netspend is that you can make a direct deposit and get your money two days earlier than the usual paycheck. Moreover, checks can also be uploaded to your account after clicking a few pictures through the app.
3. Use Your Netspend Account Via The Mobile App
The Netspend app makes life easy by allowing you to manage your finances online through your smartphone. You can use the app to receive and transfer money to other Netspend accounts and cash platforms like a PayPal account. Loading your card through the app is also free.
4. Save Money
You can also set up a Netspend savings account to earn up to 5.00% Annual Percentage Yield (APY). You can manually transfer funds from your card account to your savings account or set up an automatic transfer every time you load your card.
Bottom Line
Netspend is a reliable prepaid card service provider, and it is entirely safe to provide them with identification information. Any complaints against Netspend usually stem from poor customer service or not understanding their fee structure.
Our advice would be to read up carefully on how the card works and the various charges that come with it, so you know that you are signing up.
While Netspend may not be the cheapest of the options for finance management, its prices are on par with competitors, and it brings some unique advantages to the table. As for security, Netspend is 100% legit.
