Netspend is a prepaid card for individual people and businesses. So far, the prepaid card has served more than 10 million customers and Netspend has 130k reload locations. It provides convenient features and benefits to cardholders. Having a prepaid debit card means that you will get a card account with an account number where you can make a direct deposit to charge and spend the prepaid amount. Since it is similar to a normal bank account, you can make money transfers from Netspend to somewhere else like Paypal. However, there are ways to move your funds to Paypal. Let’s find out how to transfer money from Netspend to your Paypal account.
How does Netspend work?
When you get approved for the Netspend prepaid card, you get a Netspend card account. Netspend does not charge you with activation fees. You can use the account just like a bank account and other Visa or Mastercard debit cards. You can check your spending transactions, top up the balance by transferring funds into the account and make money transfers outward. Netspend promotes three main benefits.
- You can get paid up to 2 business days faster.
- You don’t have to get through a credit check (unlike you do for credit cards, but ID verification is still required). No minimum balance requirements
- You can get cashback.
Identity Verification
If you want to know how Netspend verifies someone’s identity, the company requires the following information:
- your name
- address
- date of birth
- your government ID number
- you may be asked to provide your driver’s license or other identifying information
You will also need an email address and a phone number to create a Netspend account online.
Interesting Features
One thing that’s interesting among Netspend services is that you can have a personalized card with a design of your choice. For example, if you are a fan of Major League Baseball, you can decorate your Netspend debit card with your favorite team’s logo design. Every time you spend using the card will support your team.
Or, how about WWE? You can select your WWE wrestler to design your card.
Of course, you can choose a normally-designed card.
In addition to these, Netspend cardholders can access other features including faster payment of tax refunds and government benefits. You can use the mobile app to check your card balance and transaction history on your mobile phone. Anytime Alerts sends you a notification when a transaction or a direct deposit occurs. Using the mobile app is an easy way for checking account.
Furthermore, A Netspend user can open a savings account and also can load checks into your balance using the mobile app. The company has vast Netspend reload network locations across the states. Using one of the locations, you can do reloading of the card account with cash. With the card, you can make ATM withdrawals.
If you plan to use Netspend for business, you can use a range of the features such as:
- Earned Wage Access
- Payroll Cards
- Tip Solutions
- Rewards & Incentives
- Disbursements
Either for individual users or companies, Netspend is a good financial product that people want to check.
Netspend Fees
| Type of Fee | Pay-As-You-Go Plan | Monthly Plan |
|---|---|---|
| Plan fee | $0 | $9.95 |
| Per purchase | $1.95 | $0 |
| ATM cash withdrawal | $2.95 | $2.95 |
| Cash reload | $3.95 | $3.95 |
| ATM balance inquiry | $0.50 | $0.50 |
| Live customer service (per call) | $0 | $0 |
| Inactivity (after 90 days w/ no trans.) | $5.95 per mo. | $5.95 per mo. |
How to transfer money from Netspend to Paypal
We learned about the Netspend prepaid card. When you receive an activated card, you now can prepare to transfer funds into your PayPal account. To do this, follow the steps below.
Link your Netspend account
The first step before making a transfer is to link your Netspend account.
- Go to your PayPal account and go to the Wallet menu at the top.
- Select “Link a bank account” and follow the instructions.
- Enter the routing number and your Netspend account number.
- Click the Continue button.
- Check the information you provided and select the Add Bank Account button.
- Once the account you provided is successfully validated by PayPal, you will need to send microtransactions with the amount of less than $1. Until the small amounts are transferred to your Netspend account, it can take up to two business days.
- When the micro-funds arrive at your Netspend account, check the amounts and put those amounts on the PayPal website (in the same Wallet menu).
In addition to liking using the bank account option, you can also link your Netspend account by choosing the “Link a card” option on the main page.
You can add multiple bank accounts and cards on PayPal. To change the source or the destination of funds transfer, you can simply select a different one. Linking is only required once.
Send money from Netspend to PayPal
Now that we have linked between Netspend and PayPal, as the next step, let’s learn how to transfer money.
- Go to your PayPal account.
- Find the Wallet menu and choose Transfer Money.
- Choose Add Money Online Option.
- There, find your Netspend account on the next page for the source of your funds.
- Put the amount of money you want to transfer from Netspend to PayPal.
- Review the information and proceed. The transfer can take up to three business days.
Once you go through these steps, you’ll become familiar with the process. You can use this method to transfer money to other financial institutions.
When transferring to PayPal, there is no additional fee. The prepaid card, however, has a daily spending limit of $4,999 including money transfers to other accounts. In addition, you are allowed to withdraw up to $499 per day from an ATM.
How to transfer money from PayPal to Netspend
In the future, Netspend customers may be interested in moving money from PayPal to Netspend. It follows a similar process. Although the direction is the opposite, you can start from the same PayPal account. Assuming that you have already linked the accounts, follow the steps:
- Go you your PayPal account.
- Click the Transfer Money button on the main page.
- Next, select Transfer to your bank account.
- Fill out the form including the amount of money you want to transfer to Netspend.
- Check the information and confirm.
Fees
Before sending money to Netspend, check the additional fees that can occur from PayPal. PayPal transfers have the following fee policies. This is for domestic transfers.
| Payment method | Fee Rate |
|---|---|
| PayPal balance or a bank account | No fee |
| Cards | 2.90% + fixed fee |
| Amex Send Account | No fee |
This means when you transfer from your PayPal account to Netspend account, there will be no fee incurred.
Wrapping up
The Netspend Visa and Mastercard prepaid cards provide a convenient way of spending your daily expenses. By linking it to your PayPal account, you can make a transfer of money between the two accounts in either direction. Once your linkage is successful, making an actual transfer of funds is not difficult. You can use the PayPal mobile app to quickly make account transfers between the two.
If you want to find out more useful tips about Netspend or PayPal, check:
