In this world where every business is taking a digital step, online money transfers is the key to payment convenience, and knowing how to transfer money from Netspend to bank account is of no exception.
The Netspend card is a popular prepaid debit card that offers lots of financial convenience and is usually considered as an alternative to bank checking accounts.
Though Netspend offers lots of financial benefits, it however, has a drawback — which are the fees.
Netspend is referred to as an expensive alternative to checking accounts since its fees are considerably higher as compared to that of traditional checking accounts.
A bank account, on the other hand comes with more secure, convenient and cost-effective financial services.
Situations may arise where you need to pay your loan or bills and you got funds in your Netspend card account, knowing how to transfer money from Netspend to bank account can be more than a live saving skill.
Netspend lets cardholders transfer money from their banks to their Netspend accounts, however, transferring money from Netspend to bank account isn't directly possible.
Thankfully, there's an indirect method to transfer the funds and if you're on the lag about how to proceed, keep reading.
To address your request, we've compiled the best ways to transfer money from Netspend to bank account without much hassle.
Table of Contents
Can I Link My Netspend Card to My Bank Account?
Yes, you can link your U.S. bank account to your Netspend card account and transfer money from your bank account to your NetSpend card by linking your bank account to your NetSpend account.
Can I Transfer Money from Netspend to Bank Account?
Yes, you can transfer money from Netspend to bank account, but not directly.
Though Netspend lets you fund your card via bank transfer, a withdrawing money from Netspend to bank account isn't possible.
However, you can use an indirect method to transfer the funds which will require a third-party service such as PayPal that would serve as a bridge for the transaction.
Also Read: How to Transfer Money from Netspend to Chime
How to Transfer Money from Netspend to Bank Account
As earlier mentioned, a direct transfer of funds from Netspend to bank account isn't possible.
A great way to transfer the funds is to withdraw them first at an ATM and add deposit the money into your bank account.
Third-party services such as PayPal, Western Union can be used a middleman for transferring money from Netspend to bank account.
Walmart locations also let you withdraw funds from your Netspend card — from there, you can decide to deposit the funds into your bank account.
With all that being said, here are the different ways to transfer money from Netspend to bank account.
1. Withdraw the Money at an ATM and Deposit into Your Bank Account
Withdrawing money from your Netspend card at an ATM and depositing it into your bank account is a great way to transfer money from Netspend to bank account.
Perhaps, it isn't the best convenient way for everyone, but it is the best method I can recommend for transferring the funds since it can be done instantly and should take only a couple of minutes.
However, keep in mind that withdrawing money from your Netspend card at an ATM can incur withdrawal fees so keep a close eye on the fees.
2. Use PayPal
Netspend is one of the prepaid cards that work with PayPal. Which means you can link your Netspend card to PayPal directly.
Once your Netspend card linked to PayPal, you need to link your bank account to PayPal next.
Next, you'll have to top up your PayPal account with your Netspend card.
Finally, request a withdrawal from PayPal to your bank account.
Here's a series of steps breaking down the process to transfer money from Netspend to bank account through PayPal.
- Log into your PayPal account.
- Link your Netpsend Card to PayPal.
- Request funds from the NetSpend card to PayPal.
- Next, you have to link your bank account to PayPal.
- In your PayPal account dashboard, click on "Wallet".
- Tap "Link a bank account".
- Choose your bank, or tap the "Don't see your bank?" at the bottom.
- Link your bank.
- Lastly, request withdrawal from PayPal to bank account.
- Your money will reflect in your bank account within some few business days.
3. Use Western Union
Western Union is a well-known money-transfer service that has been in operation for many years.
By working together with Netspend, the business makes it possible for you to receive and transfer money between the accounts of the two financial institutions.
By sending money from your Netspend card to Western Union, you can subsequently transfer the money to a bank account.
To deposit money into your bank account, you must take the following steps:
- Sign up for a free Western Union account and verify it using genuine documents like a government ID, a driver's license, or any other kind of valid identity.
- Select the amount to be sent as well as the bank account to which it should be sent.
- Fill in the information for the receiving bank account.
- Choose a payment method. You have the option of paying using your Netspend card here.
- Confirm and send. The tracking number (MTCN) can be used to track the transaction's progress.
4. Withdraw at Walmart and Deposit to Your Bank Account
Walmart locations let customers withdraw funds from their Netspend card.
After withdrawal, you should be able to deposit the funds directly to your bank account.
Each withdrawal costs about $3.75, and the daily withdrawal cap is $5,000.
Customers can now have money put directly into their bank accounts at Walmart.
Once you've taken money out of your Netspend card, you can ask the attendants to deposit the money into your bank account.
You can also reload your Netspend card at Walmart for upcoming purchases.
You will hand the cash to the attendants and ask them to deposit the money into my account if you need to deposit $1000 into my card account.
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How Long Does it Takes to Transfer Money from Netspend to a Bank Account?
How long it takes to transfer money from Netspend to bank account depends on the method you use.
It should not take up to a day to complete the transfer if you withdraw the funds at an ATM and deposit them straight into your bank account.
It can take up to a day or more if PayPal holds the funds you send from your Netspend card.
How to Transfer Money from Bank Account to Netspend
Making an online transfer from your bank account to your prepaid debit card is the quickest and easiest way to load money onto a Netspend card.
Prepaid debit cards from Netspend are connected to accounts with your name and address on them.
Your bank accounts are included if you have linked them to your Netspend card accounts.
You can receive money using Netspend from any US bank account, including Bank of America.
All prepaid cards allow for free bank transfers, which you can complete online.
There are many stages to go through when setting up the procedure.
You'll need your NetSpend account and routing number to make the transfer easy.
The issuing bank for each prepaid card is distinct from the card issuer.
Your prepaid card is identified by its account number, while the bank that provided it is identified by its routing number.
You may get this crucial information by logging into your NetSpend account and clicking the add or transfer money button. Under the option to send money, you'll see the specifics listed.
Connecting your bank account to your Netspend prepaid card is the next step.
In order to facilitate money transfers to your Netspend account, start by opening an external account with your bank.
Using their bank, account number, and your Prepaid Card routing number, you can open an external account at your bank.
If you experience any issues, contact your bank immediately for assistance.
You need to confirm two minor deposits to your account before you can transfer money from your bank account to NetSpend.
You cannot access your bank account until the test deposits have been reflected in your account.
Through the verification process, you may be sure that your external account is set up correctly and that all transfers are directed to your NetSpend Prepaid card account.
Once you've verified your external account, you can then transfer funds from your bank account to your NetSpend card account.
On the transfer page of your bank's website, choose the amount you want to transfer to your NetSpend card.
Additional information must be entered, such as your prepaid card account number and the account number for the money transfer.
What to Know About Netspend
Netspend is a global payment service provider based in Austin, Texas.
The organization is a representative of Bancorp Bank, National Association, MetaBank®, and Republic Bank & Trust Company.
The banks listed above are the ones that issue the Netspend Visa Prepaid Card.
The card can be used for a number of transactions, including deposits into a bank account.
You can manage your Netspend card online using a computer or a smartphone.
Among other things, you can use this website to pay your bills, send money to other Netspend users, buy goods and services, and check your balance.
Therefore, having a Netspend card is really practical because you may access your money whenever you want.
Depending on the operating system on your phone, you can download the app from either the App Store or the Google Play Store.
The Netspend Visa Prepaid card is protected by the FDIC.
It indicates that your funds are secure in the event that the business has unforeseen financial difficulties.
You run the danger of losing all of your savings if you place them with a financial institution that does not provide any kind of insurance.
The FDIC insures money up to $250,000 per bank deposit under the insurance plan.
How to Get a Netspend Card?
Obtaining a Netspend Prepaid card is easy.
Now all you have to do is complete the online form on the Netspend website and await the delivery of your personalized card.
The application for the card is free, but in order to activate it, you must provide your name, birthdate, street address, and other personal details.
The card can be obtained without a credit check.
You must be extremely careful when entering your information because the street address tells Netspend exactly where to distribute your card.
The card will arrive within 7 to 10 business days of placing your order.
Visit the Netspend website, download the Netspend app, and then launch it to activate your card.
You have two options for entering card information: manually or by scanning the card's Quick Response code.
You must enter the card number and security code when manually entering payment information.
The information you supplied when applying for your card will then be entered.
All of this information will help determine if you are the card's rightful owner or not.
You'll need to provide the answers to a few security questions to keep the card secure.
By following the guidelines provided with the card, you can also sign up for direct deposit.
You could also call the package's toll-free number.
Is Netspend Prepaid Card Worth Applying?
The card offers a lot of advantages.
The card's direct deposit feature is its most intriguing aspect.
Your salary will come two days early if the direct deposit feature is enabled.
The following are a few additional benefits of direct deposit.
- Supplemental Security Income (SSI)
- Social Security payments
- Pension and other regular payments
- Social Security Disability Insurance (SSDI)
- Railroad Retirement Benefits (RRB)
- Veterans Administration Compensation and Pension
- Defense Finance and Accounting Service Payments (DFAS)
- State unemployment benefits
Another benefit of possessing the card is the capability to send money online to other Netspend card users.
Similar to how you can transfer money online from one bank account to another, you can send money to someone else using their name and FlashPay ID.
Online purchases of goods and services are also possible.
When shopping online, you merely need to add the card to your platform.
They include things like your card number and security code.
Additionally, you can accumulate points through purchases from participating retailers that you can then use to purchase particular goods.
You can use it to save a considerable sum of money for later use.
What are the Netspend Transaction Limits?
Like many other financial organizations, Netspend has restrictions on some kinds of transactions.
When buying stuff, you can only spend a maximum of $4,999.99 per 24 hours.
Withdrawals made over the counter are once more restricted to $4,999.99 per 24-hour period.
At an ATM, you are only permitted to withdraw $325 once per withdrawal, $940.00 per day, and up to six times per 24 hours.
Final Thoughts: How to Transfer Money from Netspend to Bank Account
Netspend is an expensive alternative to checking accounts.
Which is why most users consider to transfer money from Netspend to their bank accounts.
Though Netspend does not allow direct transfers to bank accounts, this article compiles the best ways to use to transfer funds from Netspend to your bank account.
Frequently Asked Questions
How do I transfer money from my Netspend account to another bank?
You cannot transfer money from NetSpend to a bank account. You can only transfer money to people who also have Netspend cards. You can do that online by logging in to your account and selecting "Send Money". However, you can receive money on NetSpend from any U.S. bank account.
Can I link my Netspend card to my bank account?
Yes, you can link your U.S. bank account to your Netspend card account and transfer money from your bank account to your NetSpend card by linking your bank account to your NetSpend account.
Can I transfer money from Netspend to another card?
To transfer money from one NetSpend card to another, you need the other person's name and their FlashPay ID. Simply log into your Online Account Center, then enter their name, FlashPay ID, and the amount you want to send.