Popular Help Topics | Netspend FAQs (2024)

FAQs

Is Netspend a legitimate company? ›

Founded in 1999, Netspend is a leading provider of prepaid debit cards and commercial prepaid card solutions, with more than 10 million customers served in the U.S. There are several ways you can apply for a Netspend card.

No, we are not detecting any problems with Netspend right now. The last outage detected for Netspend was on Thursday, August 29, 2024 with a duration of about 32 minutes.

You can avoid ATM fees if you select "DEBIT" and enter your PIN to get cash back when making purchases at many retailers, such as grocery stores.

Netspend offers text and email fraud alert options. These messages are sent out in real-time to ask you if a particular transaction was made by you or not. Customers can then quickly respond without having to call Netspend directly.

NetSpend Corporation has agreed to settle Federal Trade Commission allegations that the prepaid card company deceived people about access to funds deposited on NetSpend debit cards. The Commission vote approving the stipulated final order was 2-1, with Acting Chairman Ohlhausen dissenting and issuing a statement.

The Netspend Visa Prepaid card is not a credit card, so it doesn't report your payment activity to the credit scoring bureaus. You'll also miss out on some of the best financial perks available on credit cards, so choosing this prepaid card isn't nearly as flexible or rewarding as other options.

Watch Out for Netspend's Fees

$9.95 per month for unlimited purchase use. $5 per month for unlimited use with direct deposit each month of at least $500. $1.50 per purchase with a pay-as-you-go plan. $2.95 per ATM withdrawal (in addition to whatever the ATM owner may charge).

Gas stations, hotels, and car rental agencies frequently preauthorize a transaction, which means they place a hold on your account until they know the final amount owed.

Netspend Visa® and MasterCard® Prepaid Cards are issued by The Bancorp Bank, Pathward®, National Association, and Republic Bank & Trust Company, Members FDIC. Netspend is a registered agent of The Bancorp Bank, Pathward, NA, and Republic Bank & Trust Company.

4 IMPORTANT INFORMATION FOR OPENING A CARD OR DEPOSIT ACCOUNT: To help the federal government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires us to obtain, verify, and record information that identifies each person who opens an Account.

Why is Netspend asking for documents? ›

To comply with the regulatory requirements, Netspend requires : Verification of customer identifying information. Retention of identification records and verification results.

Why would Netspend send someone a card? They send out cards to advertise their prepaid debit card to you. They might say you requested it, but regardless they still mail out cards to completely random people. The card is not active, and you have to verify your identity, and put money on it.

A Netspend prepaid card can serve as a bank account alternative for some consumers, including ones who had trouble managing bank accounts in the past, perhaps incurring many overdrafts, says Ted Rossman, senior industry analyst at Bankrate.com.

Netspend is not a bank. Banking services provided by Pathward®, National Association, Member FDIC.

The U.S. Department of the Treasury requires electronic payment of all government benefits, including Social Security. Direct Deposit benefit payments to a Netspend^® Prepaid Card to meet that condition.

1 IMPORTANT INFORMATION FOR OPENING A CARD OR DEPOSIT ACCOUNT: To help the federal government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires us to obtain, verify, and record information that identifies each person who opens an Account.