A Netspend card offers many benefits to its users over a traditional bank account. Here, we outline all the places where you can withdraw money for free from your Netspend card.
Withdrawing money from your Netspend card is easy if you look in the right places and find ATM services that offer free cash withdrawals or stores that provide the option of cash back to their customers.
What is a Netspend card?
A Netspend card is a prepaid card that allows you to carry out financial tasks without needing to open a bank account. Customers do not need to undergo a credit check prior to using the service, and it takes around ten days to receive your card after signing up.
Your card will come with an online account, which you can access via desktop or the Netspend app. Here, you can access your recent transactions and find all the information about your account in one place.
With your Netspend card, you can:
- Add money to your account.
- Transfer money to others.
- Make payments for goods and services.
- Withdraw money to have cash in hand.
There is also an option to create a Netspend savings account, which is designed to help you save up money for future use and bigger expenses.
Why get a Netspend card?
Even though it is not a bank account, the Netspend card is a great alternative in certain situations and offers a wide range of benefits.
As it is a prepaid card, you cannot have a negative balance. Depending on the account you choose, you will not be charged overdraft fees. This makes it an excellent option for those who have had trouble managing their finances in the past or have a tendency to accumulate debt.
Given how straightforward the application process is, it is an accessible service for even those who have a damaged credit score.
Netspend states that their customers can access their direct deposits two days earlier than individuals with accounts at other financial institutions – great news if you need to access your money as soon as possible.
Unlike other prepaid card options, customers can choose from a variety of plans, offering a great deal of flexibility to meet users’ specific financial needs.
How to withdraw money for free?
There are a number of ways that you can withdraw money from your Netspend card for free.
There are two financial companies that offer free ATM cash withdrawals for Netspend customers, namely MoneyPass and MetaBank.
Currently numbering around 61,000, MoneyPass ATMs are located all across the US, and it is one of the largest surcharge-free ATM networks in the country. A MoneyPass ATM locator is integrated into the Netspend app, which will help you find the closest cash withdrawal locations near you.
Netspend cards are issued by MetaBank, so you can also consider withdrawing money via their ATMs if there are no MoneyPass ATMs in your vicinity. Make sure that the ATMs are marked as “Privileged Status” to carry out free cash withdrawals.
Using ATMs is not the only way to get hands-on cash from your Netspend bank card for free. You can also ask for a cashback when you checkout at certain stores.
But how does this work?
The process is very simple, and it is sometimes more convenient than using an ATM. When you are checking out in a store, you ask the cashier if you can have a cashback. You let them know the amount you would like to receive in cash.
When you pay for the goods, you buy with your Netspend card. You will also pay the amount you would like to receive in cash.
This option does not come with hefty transaction fees and allows you to withdraw money whilst also doing your weekly grocery shop in one go. Even though not all stores offer the chance to do a cashback, certain national retailers, including Walmart and CVG, do.
It is important to keep in mind that there may be a limit on the amount of money you can withdraw via this method. For example, Walmart limits cashback to $60 at self-checkout while to $100 at the cash register.