Netspend Prepaid Mastercard Review

Who is the Netspend Prepaid Mastercard for?

The Netspend Prepaid Mastercard is for people who want to move into owning their own credit card or want to limit their overall spending. The Netspend Prepaid Mastercard has two flexible payment plans, Monthly and “Pay as you Go.” This card also comes with many benefits to make your banking experience that much better. Just like the Netspend Prepaid Visa card, this card also comes with many digital features that make depositing and checking your account hassle-free. Furthermore, cardholders get added security features to ensure your information is safe. 

Cardholders can get access to cash back rewards, an optional rewards program that can be applied to most purchases. Additionally, signing up is simple as there is no credit check, no activation fee, or no minimum balances. If you need a prepaid card, this may be perfect for you as it does not require much money nor information on your part. 

For students or people who want to improve their credit, this card could be perfect. It helps people stay within a budget, and only spend what they have. For anyone who wants to transition to a credit card, the Netspend Prepaid Mastercard could be for you. 

Benefits and Security Features

This card comes with many benefits and security features to make your cardholder experience easier. You can get paid up to two days faster with Netspend’s direct deposit. This allows you to receive your paycheck or government benefits faster than a paper check. This service is especially beneficial if you are in a financial pinch and need your money just a couple of days sooner. Also, there is potential to earn extra cash back with “Payback Rewards.” With your Netspend account and card, you can join their optional rewards program which will give you cash back on your frequent purchases. This is a great program to help you save money on your everyday purchases.

In addition, other benefits include increasing your card balance when you refer a friend. If you know that your friends would benefit from a card such as this one you can refer them and get money to spend. You can manage all of this and your account through Netspend’s Online Banking app. This puts your account and card all in one place making it easy to manage your spending. 

There are also security benefits that come with this card. You can receive text alerts about transactions so you can always keep track of your purchases. This can also help protect you against any fraudulent purchases. You can repost any purchases that seem incorrect and Mastercard’s Zero Liability protection will make sure that you do not have to pay anything. If you see any fraudulent purchases call the bank and they will ensure that you do not have to pay for it. 

Fees

This card has many fees associated with it. There are two types of payment plans, monthly which costs $9.95 per month and “Pay as you Go,” which costs $1.50 per purchase. If you are planning to use this card more than 7 times a month we recommend you use the monthly plan to save as much money as possible. It is crucial that you understand your spending habits before picking a plan. 

There are also other fees such as an ATM withdrawal fee of $2.50 in both the pay per purchase and monthly plan. As a cardholder, you must be careful how many times you are withdrawing cash because you don’t want any unnecessary costs. This card also has a $0.50 ATM balance inquiry fee, so it is important that you keep track of all your withdrawals. 

Furthermore, there are cash reload and inactivity fees that cardholders need to pay attention to. The cash reload fee is $3.95 for both plan types. Every time you add money to your card there is a $3.95 fee but there is no fee for loading your mobile check. You should make sure that you are not adding money too frequently but all at once to mitigate the fee. Finally, the inactivity fee is $5.95 per month so you need to know whether or not you will use this card frequently. 

Conclusion

The Netspend Prepaid Mastercard is for anyone who wants to transition into using a credit card or people with lower credit scores. This card comes with many digital features that make it much easier to bank. Also, it comes with Mastercard’s Zero Liability feature to protect you from any fraudulent purchases. However, it is important to understand all of the fees that come with this card and the payment plan that is right for you. Overall, this is a solid prepaid card for anyone who needs to budget their money or transition into a credit card.