Netspend Prepaid Visa Card

Who is the Netspend Prepaid Visa Card for?

The Netspend Prepaid Visa Card is for people who want to transition into owning a credit card or want to limit spending on their account. This prepaid card is flexible in its payment plan and also provides numerous benefits to make your banking experience easier. This card comes with many digital features that make depositing and checking your account painless. Furthermore, cardholders get added security to make sure your information is safe.

Cardholders even have access to payback rewards, an optional rewards program that helps you get cash back on your purchases. Additionally, signing up is simple as there is no credit check, no activation fee, or no minimum balances. If you are in need of 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 not overspend and stay within a budget. For anyone who wants to transition to a credit card or kick old spending habits, this card could be helpful.

Benefits and Security Features

This prepaid card comes with many benefits to make your cardholder experience hassle-free. You can get paid up to two days faster with direct deposit. This allows you to receive your paycheck or government benefits faster than a paper check. This feature is especially beneficial if you are in a financial pinch and need the money two days earlier. Also, this card has the potential to earn 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 opportunity to earn money while spending on your everyday purchases.

Furthermore, other benefits include boosting your card balance when you refer a friend. If you know friends that would benefit from this card then you can earn more just for referring them to this card. 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 which makes it easier 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 prevent any fraudulent purchases. You can report any purchases that seem incorrect to the bank and Visa’s Zero Liability Protection will ensure that you do not have to pay anything. If you see a fraudulent purchase call the bank immediately and then they will remove the purchase from your account.

Fees

This card also comes with many fees. There are two types of payment plans that cardholders can go with. The monthly plan costs $9.95 every month, or pay per purchase which costs $1.50 for every expense. If you are planning to use this card frequently, we recommend the monthly plan as if you use the card more than seven times in a month, you are paying more than the monthly $9.95. It is important to understand your spending habits each month before picking a plan.

There are also other fees such as an ATM withdrawal fee of $2.50 in both the pay per purchase plan and the monthly plan. As a cardholder, you must be careful how many times you are withdrawing cash because you do not want to incur any unnecessary fees. This is also coupled with a $0.50 ATM balance inquiry fee, which is not a lot but can add up. Therefore, you should always keep track of your withdrawals so you don’t have to make any unneeded payments. 

In addition, there are cash reload and inactivity fees that cardholders would be wary about. 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 you are not adding money too frequently but all at once so you can save on the $3.95 fee. Finally, there is an inactivity of $5.95 per month so it is imperative that you know you’ll use this card. 

Conclusion

The Netspend Visa Prepaid Card is for anyone who wants to transition into using credit cards or wants to kick a bad spending habit. This card comes with many features that make using it easy to use such as online banking and direct deposit. Also, it comes with Visa’s Zero Liability feature keeping you safe from fraudulent purchases. However, it is important you understand all of the fees associated with this card so you don’t pay any unnecessary charges. Overall, this is a decent prepaid card for people who want to build their credit score and spending habits before a credit card.