Actually in this article I am going to show you how you can transfer your netspend balance into your bank account but before that, let us first of all look what is a Netspend account and it works. Well NetSpend is a global payment company that has its headquarters located in Austin , TX and the company is an agent of the Bancorp Bank, National Association, MetaBank and Republic Bank and also the Trust company.
The banks that are listed above are the banks that are in charge of issuing Netspend Visa prepaid card which allows you to perform various transactions, including transferring money into your bank account.
You are able to operate your Netspend card online by making use of your smartphone or computer and here you can pay bills online, send money, buy goods, and services as well as check your balance.
It is therefore of no doubt that being in possession of a Netspend card is very convenient and also helps you ease your online transaction from your mobile phone. You are able to download the app for free from Playstore or Appstore depending on your device.
Netspend Visa prepaid card has FDIC assurance which means your money still remains safe in case the company collapses due to reasons like economic difficulties. If you are operating with any financial institution that does not have any form of insurance, then you can lose you money entirely in case the business runs down.
Want to transfer money from Netspend to Bank account? stay glued to this article as I will show you how to do so in a few steps. There are many ways via which you can transfer mooney from Netspend to Bank account and the most used method is by making use of PayPal.
Table of Contents
What is Netspend?
Netspend is a leading provider of FDIC-insured Visa® Prepaid, Prepaid Mastercard®, and corporate prepaid card solutions through our issuing banks in the United States. Upon successful activation and registration of the Card Account, funds on deposit at Pathward, N.A, Member FDIC, are insured up to the standard maximum deposit insurance limit. Coverage limit is subject to aggregation of all of Cardholder’s funds held on deposit at Pathward, N.A.
Can I Transfer Money From Netspend to Bank Account?
Yes, if your PayPal account is linked to your bank account, you can transfer funds from your Netspend account to your PayPal account and then transfer the funds from your PayPal account to your bank account
How to Transfer Money from Netspend to a Bank Account
Before we start, you need to have in mind that there is no direct way through which you can transfer money from your Netspend account to Bank account, but you are able to make use of some indirect method so as to make your money from Netspend end up in your bank account. There are various options that you can make use of so as to transfer money from your Netspend account into your Bank account and I am going to show you these various method below.
1. Make Use of PayPal
Netspend is platform that also works with PayPal and you are able to link your PayPal account with Netspend so as to transfer money easily. In order to link Netspend to your PayPal account, you will have to visit PayPal and then sign in to your account and then connect your card to PayPal.
Once you have already succeeded in linking these 2 accounts, you can now request funding from the Netspend card and then the amount you want to transfer will move from your Netspend card to your PayPal.
Once you have already seen the funds in your PayPal account, you can now transfer the funds into your desired bank account but however, the bank account must be linked to your PayPal account before any transfer can take place. In order link your PayPal account to your bank account, you can follow the steps below;
- You have to first of all log into your PayPal account
- Then click on the wallet located at the top of the page but if you are using your smartphone, you can tap Menu and then Wallet
- Then after that, click "Link Bank"
- Choose your Bank, or tap the ' don't see your bank' at the bottom
- And then link your bank
You can either link your bank account to PayPal either instantly- where you have to log into your bank account in order to authorize the process to link your bank instantly or better still you can decide to link it manually.
If you select Instant linking, PayPal will match your account details with your bank account and if they are correct, then you will see your bank appearing in the list of linked banks at that moment. But if you go for manual linking, you will have to confirm your details in order to obtain a successful linking.
Once you have already linked your Netspend account to your PayPal account and your PayPal account also linked to your Bank account, you are now ready to make transfers between them.
2. Withdraw at an ATM and then Deposit in your Bank Account
Here comes another trick that you can apply so as to transfer fund found in your Netspend account into your bank account. Since Netspend allows you to make cash withdrawals at an ATM, this can be a trick for you to exploit.
It is clear that you might some times have to make purchases or settle a certain payment using your bank account and if the money is actually in another account such as Netspend, you will have to do all the necessary so as to move it to your bank account. ATM withdrawals that are made out of the net will see your part with $2.5 per ATM withdrawal.
3. Withdraw at Walmart
Walmart is well known online market where you are able to make your online purchases and interestingly, you are able to withdraw money from Netspend at their centers even though you will be charged $3.75 per withdrawal that you make with a daily withdrawal limit of $5000.
More to that, walmart supports the direct deposit of money into a bank account so you can make use of this walmart features so as to deposit the money into your desired bank account.
4. Make use of Western Union
Another method through which you can transfer funds from your Netspend acount to bank account is by passing through a reputable money transfer platform that has been around for years now- Western Union.
This company works with Netspend and you are able to receive and transfer money between accounts in the 2 financial companies with ease. Western Union has a western union Netspend prepaid Mastercard and if you transfer money from your Netspend card to Western Union, you will be able to transfer it now into your bank account.
In order to transfer money into your bank account, you will have to follow the steps below;
- You have to sign up for a free account with Western Union and then verify it using original documents such as government ID, driver's License or any other legitimate identification document
- You will then have to choose the amount that you wish to transfer as well as the bank account that you desire to transfer it in
- Enter the receiving bank account details
- Select the payment method and here you can choose to pay with your Netspend card
- Then, you will have to confirm and send and you can track the transaction progress by using the tracking number- MTCN
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How Can I find My Account And Routing Number in Netspend
The account and routing number are often needed when you want to make some direct deposits and you can find these by following the ways below;
- You will have to log into your account and the move to " Direct Deposit" from the main menu and you will see the card account and routing numbers in a grey box and you can then copy and paste it where needed or share it with the person that wants to make you a transfer of funds.
- Optionally, you can also enroll for the "Anytime Alerts" and then receive your account and routing number by texting DIRECT to 22622 and Netspend will send the numbers to you.
How to Deposit Money to Netspend Card
There are different ways through which you can recharge your Netspend account and below you are going to see the various ways through which you can do this.
1. Receiving money from Other Netspend card holders
In order to top up your Netspend card the easiest and most efficient way is to request someone else with a Netspend account to send money into your Netspend card. The sender will only need your name and Flash ID.
2. Make Use of a Bank Account
In the same way that you are able to transfer money from your Netspend to Bank account, you can also make use of your bank account to recharge your Netspend account. You can make a direct deposit by using the routing and account number of your Netspend account. If you enrolled for the service, you are able to text DIRECT to 22622 in order to get your routing number.
3. Mobile Deposits
You are able to snap checks using the Netspend app so as to make online deposits. Once you log into your mobile account, you can select "Mobile Check Load" from the menu and follow instructions to the end.
4. Via Tax Refunds
You can instruct the IRS to deposit funds electronically into your Netspend account.
5. Use Netspend Reload locations
The Netspend company has more than 130,000 convenient locations in the U.S where you can reload your cards for convenience and if you are not far from one, then you can opt for that option.
Final Thoughts on How to Transfer Money from Netspend to Bank Account
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.
Frequently Asked Questions
Does NetSpend do instant transfers?
The process of linking Netspend to Cash App is quick and easy, and it takes just a minute and allows you to transfer funds immediately following this process..
Can you have 2 NetSpend accounts?
Yes you can have 2 Netspend accounts since each indivdual is allowed to open a maximum of 5 Netspend accounts.
Can I transfer money from Netspend to PayPal?
Prepaid Netspend accounts work with PayPal by linking both accounts together. Netspend users can reload their accounts either online or at more than 100,000 Netspend Reload Network locations nationwide. PayPal does not charge NetSpend customers fees.
Can I transfer money from Netspend to Netspend?
Yes, if you have another Netspend account, it's easy enough to transfer money from one Card Account to another. Simply log in to your Online Account Center to start your transfer. Other Netspend cardholders can use FlashPay to put money into your account as well
Does Netspend give loans ?
It is quite unfortunate that Netspend does not give loans to their clients but however you can receive loans from other financial institutions in your Netspend account.
What are Netspend Transaction Limits?
Similarly to other financial institutions, Netspend has some restrictions on different kinds of transactions. When it comes to making purchases, you are only able to spend up to $4,999.99 every 24 hours but when it comes to making withdrawals at ATM, you can withdraw only $325.00 per withdrawal, $940.00 per day, up to 6 times per 24 hours.
Can I link my Netspend card to my bank account?
You can transfer money from your bank account to your NetSpend card by linking your bank account to your NetSpend account. You can add money from any U.S. issued bank account to your NetSpend card via bank transfer. Simply log in to your NetSpend account and follow the instructions to link the accounts.