With over 4.5 million cardholders in all 50 states, Direct Express is probably one of the most popular and preferred ways for receiving federal benefits.
In fact, most people prefer to go in for the Direct Express card other than bank accounts, since it is convenient and does not require much documentation to get the card.
Over 7 million households in the U.S. were unbanked, according to a survey run by the Federal Deposit Insurance Corporation (FDIC). Considering the constant evolution in the financial industry, most of these households surely relied on other banking options including, prepaid cards like Direct Express and Netspend cards for maintaining healthy finances.
Following this, you can agree with me that both the Direct Express card and the Netspend card have offered consumers an easy way for managing their finances.
While Direct Express seems safe and convenient, it does not, however, offer flexible money management tools for completing most financial transactions.
If you're considering Netspend as an option, it's good you know that it is a prepaid card that offers many flexible financial tools for managing your funds. In fact, it is considered by a couple of trusted resources as an alternative to checking accounts, especially for the unbanked. Ted Rossman, a senior industry analyst at Bankrate.com confirms this.
If you've always wondered whether can you transfer money from a Direct Express card to a Netspend card, then you've come to the right place.
In this article, we'll be seeing how can you transfer money from a Direct Express card to a Netspend card, including how long this will take and the fees required to complete the transfer.
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Can I Transfer Money From My Direct Express Card To A Netspend Card?
Yes, you can transfer money from your Direct Express card to a Netspend card. However, you can't transfer the funds directly since Direct Express and Netspend do not integrate.
Thankfully, if you have a US bank account, you can make the transfer very possible. All you'll need to do is use the bank account as a bridge for the transfer.
How Can I Transfer Money From My Direct Express Card To A Netspend Card?
As earlier mentioned, you can only transfer money from a Direct Express card to a Netspend card indirectly, through a U.S. bank account.
You'll first need to withdraw money from your Direct Express card to your bank account and once the funds reflect in your bank account, the last thing to do will be to transfer them to your Netspend card.
It's a fairly easy and straightforward process and involves only two simple steps.
Step 1: Transfer Money From Your Direct Express Card To Your US Bank Account
When looking to transfer money from a Direct Express card to a Netspend card, a US bank account is usually considered as a first stop for your funds — that is, an intermediate that temporarily holds the funds.
Thankfully, Direct Express supports transfers to a personal US bank account, but this goes with a $1.50 fee charged for every transfer made to your bank account. The process is as easy as transferring money from a prepaid card to a bank account.
To do so, call customer service at the number found on the back of your card or simply dial their toll-free number at 1 (888) 741-1115. You can also visit the Direct Express website to transfer money to your bank account.
Step 2: Transfer Money From Your Bank Account To Your Netspend Card
Once the funds from Direct Express reflect in your bank account, the next thing you'll want to do is transfer the funds to your Netspend card. It is more like transferring money from a bank account to a prepaid card.
Netspend supports transfers from bank accounts as a way to top up your Netspend card, which should sound like great news.
To transfer money from your bank account to your Netspend card, all you need to do is set up your Netspend Card Account as a payment recipient on your eligible checking account and follow the instructions at your bank to send money.
You may need your Nespend routing and account number during the process.
Once initiated, it should take no more than 1-3 days to reflect in your Netsoend card account.
How Long Does It Take To Transfer Money From My Direct Express Card To A Netspend Card?
It typically takes 3-5 business days for a complete transfer of funds from a Direct Express card to a Netspend card to go through.
It takes so long because a bank transfer is involved in the two steps, which at times, takes longer than expected to complete.
What Are The Fees Required To Transfer Money From My Direct Express Card To A Netspend Card?
Direct Express charges a $1.50 fee for each money transfer made to a personal U.S. bank account. Netspend, on the other hand, does not charge fees for online money transfers. However, you'd be charged a $4.95 fee for each transfer made through a Netspend Customer Service agent.
Also, keep in mind that your bank may charge fees for transfers made to external accounts. Inquire with your bank to find out how much they'd charge for the service.
Alternative Way To Transfer Money From My Direct Express Card To A Netspend Account
If using a linked bank account isn't a convenient option for you, I'd recommend using an ATM to withdraw the funds from your Direct Express card account and then use the funds to top up your Netspend card either through Direct Deposit or at a Netspend Reload Network Location.
While Direct Express does not have a daily withdrawal limit, most ATMs usually limit withdrawals between $200 to $1,000 from a Direct Express card.
Frequently Asked Questions
Can I transfer funds from my Direct Express card to another account?
Yes, you can transfer funds from your Direct Express card to another account, such as a personal US bank account. However, you'll be charged a $1.50 fee for each transfer made to a bank account.
How do I send money to a Netspend card?
There are six different ways to send money to a Netspend card, which include Direct Deposit, Netspend Reload Network Locations, Bank Transfers, PayPal, Transfer Money Between Netspend Card Accounts, and Tax Refunds.
What banks can I link my Direct Express card to?
You don't need a bank account to use your Direct Express card. You can transfer funds from the card to any personal US bank account without having to link the card to your bank.
The Direct Express card offers a great way to receive government benefits.
While the card might seem convenient, it does not offer financial tools for managing your funds the way you want, which is why, most cardholders like me prefer transferring the funds to a Netspend card since this one comes with a plethora of budget management tools for maintaining a healthy financial.
This article compiles steps to transfer money from a Direct Express card to a Netspend card. When transferring funds, always keep a close eye on fees and inquire with your bank what they'd charge for this service.