NetSpend comes with high fees. However, it is very generous with its limits of withdrawal as well as deposit compared to other cards. It also has various options to load funds and also high limits of withdrawal.
The applications of NetSpend are fast as well as easy. It just requires an individual’s name, address as well as an email address. All the applicants get guaranteed approval after the identity of the applicant is proved. Through mail new cards are sent within 7-10 working days. You need to fill up an order form online and your personalized card will be shipped. No credit check is performed. There also lies no such upfront fee. For activating your Card Account, you need to provide your name, date of birth as well as other details that will help them in identifying you.
When you make use of NetSpend cards in the stores, then if you select credit at the checkout and give your signature, the transaction fee for that purchase will appear to be $1. The funds will get deducted from your card account. In case you select debit, you need to provide a PIN or personal identification number and you will be charged a transaction fee of $2. You can avoid fees for individual transactions if you subscribe to a premium Fee Advantage Plan and it charges service fees monthly. The pay as you go plan is the common fee plan of NetSpend accounts. Some fees are charged per credit usage, debit usage and domestic withdrawals from ATMs.
NetSpend card comes with one of the best specifications and that is how easily one can add funds to this card. You can add funds to this account via direct deposit, reload network locations, account transfers, and bank account transfers. But if you do not wish to incur fees then add funds via direct deposit or via the online account center of NetSpend.
An individual holding a NetSpend card can use it at several locations internationally. It is a wise decision if you are traveling to any international destination. If it gets stolen or is lost, then as an account holder you can contact the customer service and deactivate your card immediately. If you are a traveler, you can also receive funds on your card from your close ones who are cardholders of NetSpend cards.
They can also send and receive money through Western Union to more than 200 countries. Cheques can also be deposited in your NetSpend account via the mobile application.
There are some cons to using the card when traveling overseas. For instance, it does not come with the latest technology of chip and signature specification. It is used for decreasing the levels of theft as well as fraud. Moreover, since this latest technology is not present in it some shops, restaurants or hotels might be unable to process the charges.
There are hardly any or very few reload locations of NetSpend outside the UK. Some extra fees are also present if you use it internationally.
There are foreign transaction fees if you buy any items or services abroad. If you withdraw cash from any international ATM, a fee is charged per withdrawal apart from the individual transaction fee of the ATM. The transaction fees abroad and withdrawal charges from the international ATMs can also add up.
NetSpend cards are thus popular cards that need no such minimum balance as well as credit checks. If you are a NetSpend cardholder, then you can make purchases from in-store, over the phone as well as online and withdraw cash globally from ATMs.
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