Netspend Visa Prepaid Card Review 2024

The Netspend Visa Prepaid Card is a Visa debit card that works much like a standalone checking account. You can receive direct deposits, make purchases, deposit cash, and make ATM withdrawals. However, an unfavorable fee structure makes this card a bad option if you can qualify for a traditional checking account elsewhere.

As it’s a prepaid debit card, not a credit card, there’s no credit check required and anyone can sign up. If you’re interested in getting one for yourself or a family member, here’s a closer look at how the Netspend Visa Prepaid Card works and the costs you can expect when using one.

Netspend® Visa® Prepaid Card

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Netspend® Visa® Prepaid Card

APR

No interest (it’s a debit card)

Recurring fees

$9.95 per month or $1.95 per transaction

Credit score

No credit check

TIME’s Take

The Netspend Visa Prepaid Card is a prepaid debit card with high fees. It works as a checking account alternative for individuals who can’t get a checking account elsewhere. For most people, we don’t recommend this product.

Pros and cons

Who is the Netspend Visa Prepaid Card for?

The Netspend Visa Prepaid Card is for individuals who can’t get a traditional checking account with no fees or lower fees. This card makes sense in the rare circumstances when you’re repeatedly denied a checking account due to repeated overdrafts or non-sufficient funds (NSF) incidents on your ChexSystems report, a bad credit history, or don’t have a Social Security number.

To open a new card account, you must provide contact information and undergo an identity verification process. You’ll also have to choose between a monthly recurring fee of $9.95 or a pay-as-you-go plan where you pay $1.95 per purchase.

If you get $500 or more in direct deposits monthly, you can upgrade to the Premier version with 50% lower monthly fees.

Netspend Visa Prepaid Card features

Here’s a snapshot of the most important features of the Netspend Visa Prepaid Card:

• Get a card with no credit check: If you’re looking for a Visa card and have no credit, you can sign up without having to go through a credit check. Identity verification is required.
• Supports direct deposit: You can receive direct deposit to the card account with no extra fees or charges. In some cases, you can get your payment two days early.
• Cash back rewards from partner purchases: With Payback Rewards, you can opt-in to partner deals and earn cash back from eligible purchases.
• Mobile check deposit: Using the Netspend Visa mobile app, you can deposit checks. Fees apply to some check deposits.
• Deposit and withdraw cash: You can withdraw cash from an ATM or load your card with cash at a participating location. Fees apply, however.

The fine print

As we’ve pointed out repeatedly, the account comes with extremely high fees for what it offers. If you have a traditional checking account, you may get most or all of what the Netspend Visa Prepaid Card does for free or with much lower fees.

At signup, you can choose a monthly plan that costs nearly $10 per month or a pay-as-you-go plan with a fee of $1.95 per purchase. The monthly fee is $5 if you get $500 or more in direct deposits every month.

Other common fees include:

• ATM withdrawal: $2.95.
• Cash reload: Up to $3.95.
• ATM balance inquiry: $0.50.
• Inactivity fee: $5.95 per month (after 90 days with no transactions).
• Foreign transactions: 4%.
• Replacement card: $9.95.

Additional hidden perks

The card includes a few useful security features. It comes with zero liability for fraudulent purchases if you immediately notify Netspend of a compromised card. You can also create virtual one-time-use card numbers for online purchases.

You can opt for instant transaction alerts every time the card is used. Some users may also get overdraft protection that covers up to $10 beyond their account balance.

What could be improved

If you couldn’t tell already, we’re not a fan of the card’s fees. To have a monthly fee or per-use fee is extremely unfriendly to the customer. One of the alternatives below could give you all or many of the same features for a fraction of the cost or even for free.

Card alternatives

Bottom line

While the Netspend Visa Prepaid Card works well for a limited audience, it’s not an ideal payment or banking solution for most people. A top alternative is Chime, which offers a bank account and credit card with zero fees. But if you can’t qualify for a regular bank account, the Netspend Visa Prepaid Card could make sense.

Netspend® Visa® Prepaid Card

View Offer

Netspend® Visa® Prepaid Card

APR

No interest (it’s a debit card)

Recurring fees

$9.95 per month or $1.95 per transaction

Credit score

No credit check

Frequently asked questions (FAQs)

Is Netspend Visa prepaid card legit?

The Netspend Visa Prepaid Card is a legitimate prepaid debit card product. It’s safe when used responsibly.

What are the cons of a Netspend card?

The biggest cons of the Netspend card are the fees. There is a recurring fee of $9.95 per month or $1.95 per transaction charge, depending on the plan you choose.

Why would someone get a Netspend card?

Someone might get a Netspend card if they don’t qualify for a checking account or lower-fee prepaid debit card.

What is one downside of using a prepaid card?

Prepaid cards don’t come with the same level of protection and service as a traditional bank checking account debit card. And unlike a credit card, you can’t use one to build credit.