Netspend Prepaid Debit Card Review: Fees Mount Up

Netspend Prepaid Debit Card Review: Fees Mount Up

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Where Netspend shines:

  • 5% APY checking account on balances all the way to $1,000.
  • Quick access to adding and withdrawing money within a community of stores.
  • You will get your paycheck as much as two times early with direct deposit.

Where Netspend falls brief:

  • High fee that is monthly fundamental charge plan with no method to waive the cost totally.
  • No free community for reloads or withdrawals.
  • Inactivity charge in the event that you stop utilising the card, among other charges that lots of prepaid cards don’t have actually.

Where Netspend shines:

  • 5% APY checking account on balances as high as $1,000.
  • Comfortable access to including and withdrawing money within system of stores.
  • You will get your paycheck as much as two times early with direct deposit.

Where Netspend falls quick:

  • High fee that is monthly fundamental charge plan with no method to waive the fee entirely.
  • No network that is free reloads or withdrawals payday loans in California.
  • Inactivity cost in the event that you stop using the card, among other costs that lots of cards that are prepaid have actually.

The important thing

Netspend’s prepaid debit card is a pricey replacement for a bank account. It’s very easy to get and there’s no banking history or credit check needed to start, but Netspend enables you to choose from having to pay a month-to-month cost or spending a cost every time you make a purchase. In any event, you could spend more in fees in per year than you can make in interest through the prepaid card’s savings account. The card’s nationwide reload community of 130,000 areas for money reloads is convenient, nevertheless the network is not free and there’s no free use of ATMs.

» Want cheaper options that are prepaid? See our variety of best prepaid debit cards

Continue reading for details on Netspend’s basic costs, features, funds access, and much more.

General charges and features: 2.0/5.0

Netspend charges a complete great deal of charges, and you also can’t avoid them all.


It is possible to start with out a cost. You are able to purchase and register the card on the web at no cost, however, if you purchase the card at retailers such as for instance CVS and Walmart, there’s generally speaking a cost all the way to $9.95.


Regular costs regardless of what you are doing. You spend a cost for the Netspend card in another of 3 ways. You are able to fork over $1 to $2 every time you produce a purchase; spend an appartment $9.95 each month and possess free deals; or select the second item and get $500 in direct build up month-to-month in the card, in which particular case the monthly charge falls to $5 per month.

Fee in the event that you stop utilizing the card. Unlike some cards that are prepaid Netspend charges an inactivity cost of $5.95 if there’s no card task for ninety days.

Shutting the account will set you back. The fee is $5.95 if you request a mailed check with remaining funds from your prepaid card.

» Unsure about prepaid cards? Discover the basic principles to prepaid debit cards

Acquisitions and withdrawals: 3.5/5.0


You could get money back for free at merchants’ checkouts. This really is a feature that is standard Mastercard and Visa debit cards and prepaid debit cards. Not all the cards that are prepaid in these re re payment sites.

No overdraft costs. It has not necessarily been the full instance for Netspend. Deals that get throughout the quantity available in the card will tend to be declined, though a “purchase cushion” feature may protect negative balances as high as ten dollars for qualifying clients. (not clear about overdraft costs? See our help guide to overdraft fees. )


$2.50 charge for ATM withdrawals. It’s this that Netspend fees; there are often an ATM operator charge.

$2.50 cost for over-the-counter withdrawals at banking institutions or credit unions.

A payment for declined ATM transactions. In the event the card gets refused at an ATM, you spend $1.

Reloads: 3.0/5.0


130,000 reload areas. You can include money to your card from numerous merchants nationwide, generally speaking for a charge.

Various ways to reload cash. Aside from money reloads, it is possible to move cash from a banking account, PayPal, or any other Netspend account. Different ways consist of direct deposit, mobile check deposit and taxation refunds.


As much as $3.95 per cash reload at Netspend places.

Steep cost to have prompt check that is mobile. You must spend 1% to 5percent regarding the check quantity for same-day processing, or wait 10 times getting the cash at no cost.

Other solutions: 4.0/5.0


5.00% APY family savings on balances all the way to $1,000. For balances above that, the price falls to 0.50% APY.

Long support hours. It is possible to reach customer support beyond the conventional 9-to-5 on weekdays in addition to on weekends.


No free online bill pay service. Netspend makes use of a provider that is third-party MoneyGram, which charges a cost. An alternative that is free to offer a biller your card’s routing and account figures.

No check writing. Some prepaid cards have actually this cap ability.

Extra costs for seeing your balance at an ATM and for asking customer support to help move cash from your own card.

» hunting for online cost savings reports with a high rates and reduced month-to-month charges? Have a look at NerdWallet’s list of most readily useful savings accounts that are online

Savings price doesn’t offset costs

Netspend’s family savings could be the card’s biggest perk, however it’s maybe maybe perhaps not adequate to justify the fees for making use of and maintaining the card. See our cheaper prepaid choices.

Ratings methodology

Concerning the writer

Spencer Tierney

Spencer Tierney is a specialist on certificates of deposit at NerdWallet. Their work happens to be showcased by United States Of America and the Los Angeles Times today. Browse more

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