Posted by Chuck on August 17, 2015
Prepaid Cards With High APY's

Published on August 17th, 2015 | by Chuck

143

Netspend 5% Savings Accounts on up to $5000

[Upadated 4/6/16]

We’ve written about various options of prepaid cards which offer high-interest rates. This post will be about the following prepaid accounts: Netspend, Brinks, Western Union, and Ace Elite. All four of these have the same details, as described in this post.

  • Interest Rate: 5% APY
  • Minimum Balance: None
  • Maximum Balance: $5,000 (any portion of the balance above $5k will get .50% APY)
  • Payments: Issued quarterly
  • Availability: Nationwide
  • Direct deposit required: No
  • Additional Requirements: Initial $500 ACH transfer (see below)
  • Hard/soft pull: Soft
  • Credit card funding: No
  • Monthly fees: None
  • Insured: FDIC
  • Length of promotion: Unknown

The Offer

Update 5/31/16: Netspend, Brinks, Western Union, Ace Elite, Control, H-E-B, and probably Paypal are lowering the 5% rate to just $1,000, effective July 1, 2016.

Direct link: Netspend, Brinks, Western Union, Ace Elite

  • Open any one of these prepaid accounts and you’ll be eligible to open a connected Savings account with 5% APY on up to $5000.

In order to be eligible for the Savings Account, some of the Netspend varieties require that you first upgrade the prepaid account to a Premier account by making a $500 direct deposit. In the past, any ACH transfer worked, but as of 1/22/16, a real payroll or government payment is required. This change does not affect those who were already upgraded under the old rules.

As soon as the money appears in your prepaid account, you’ll be upgraded to Premier and they’ll send you a new Premier debit card. Your account will be upgraded and eligible for the Savings Account immediately, even before you get the new Premier debit card.

[You can split up the $500 deposit into multiple transactions; so long as a total of $500 is directly deposited within one calendar month the account will be upgraded to a Premier account.]

Opening an Account

The process of opening an account with all of these Netspend options is to signup with your name and address, without giving your SSN and other personal info. After getting the card, you’ll give in this info at the time of activating the card.

A few points:

  • You may want to signup with a referral link, instead of signing up directly, so as to get a $20 bonus – see below.
  • At the time of the initial card signup, you’ll have the option of setting up an online login immediately.
  • Do not try to ACH funds into your account before receiving and activating the card. It needs to be activated first.

Loading Funds

The prepaid account has a routing number and an account number, same as any checking account, and you can transfer funds to it same as you would transfer between any two checking accounts.

All funds initially come into the prepaid account (via ACH or any other method such as cash loading) and are transferred to the attached Savings Account. There is no way to fund the Savings Account directly.

Things to keep in mind:

  • Since this is a prepaid card and not an ordinary checking account, some banks may not allow transfers to it. My experience so far is that my banks are treating the prepaid account as an ordinary checking account.
  • We don’t recommend trying to transfer from a CapitalOne360 account since they’ve been known to have problems with people making transfers to prepaid accounts in general. Some mention not to use Chase or Discover either.
  • There is one report that Bluebird/Serve/REDbird do not work.

Avoiding Fees

All these cards can be obtained online with no fees.

As far as monthly fees go, there are two plans available:

  1. Pay-as-you-go plan. Under this plan, you pay $1 per signature transaction and $2 per PIN transaction. You pay no fees if you don’t make any purchases with the card.
  2. Monthly fee plan. It’s $5 for Premier cardholders (more on being Premier below), and $9.95 for non-Premier cardholders. There are then no fees per transaction at all.

For those of us who just want the prepaid card for the 5% savings account benefit, the best option is to go with the pay-as-you-go plan. You’ll end up with no fees whatsoever, no signup/activation/monthly fees at all.

Other possible fees:

  • $.50 fee for checking the card balance with a CSR or at an ATM. (All online services are free.)
  • $3.95 card replacement fee.

Inactivity Fee

The one fee to be aware of is a 90-day inactivity fee of $5.95. To remedy this, you need to make sure there is some sort of activity on the debit card every 90-days. You can buy a $.50 Amazon gift card every 90-days, but that would cost you $1 for the transaction, or you can set up an ACH pull/push of $1 from your checking account into the prepaid every 90-days.

It’s likely that transferring money from the saving to the prepaid or vice versa will satisfy the inactivity requirement. Similarly, it’s likely that if there is no money in the prepaid account, the inactivity fee doesn’t apply and they won’t put your account into a negative balance. [Prepaid cards often have inactivity fees as a means of draining unused cards, not as a penalty for inactivity.]

Exclusion: In the Netspend Fee Schedule it mentions that NJ and CT are exempt from this fee (HT: Eric). I do not see this detail with regards to Brinks or any of the other above-mentioned accounts.

Referral Program

A popular aspect of these prepaid cards is the $20 referral bonus program.

  • Refer-a-friend and each of you will get a $20 bonus after the new member adds $40 to their account.

Some people have been opening these prepaid accounts just for the sake of the $20 bonus. That may not be worth it for many, but it is an added little perk to go along with the 5% Savings Account. You’ll only get the $20 bonus if you use a referral link, not if you open an account directly.

Referral Limits

There is a limit of one $20 referral for the recipient across all Netspend-and-clones cards within 180-days. This means that if you sign up for two of these cards on the same day (say – Brinks and Netspend), you’ll only get the bonus for the first one. After 180-days it resets, and you can get another bonus.

There is no limit as to how many people you can refer; you can refer as many people you want. So long as the referred member is eligible for the bonus, you’ll get the bonus as well.

Ace Elite Bonus

While all the other cards offer a $20 referral bonus, the Ace Elite card offers just a $10 bonus. All the other details are the same.

Please do not leave any referrals in the comments of this post. Instead, please visit our dedicated page for referrals on all Netspend-family products. You can pick up a referral there (to net the $20) or you can leave your referrals there. We also wrote more details there on the rules of the referral program.

Rewards Programs

All of these prepaid cards come with various rewards programs. Here are some of the offerings (which vary by the card):

  • Various ‘payback rewards’ which offer you cashback for using  your debit card at different merchants. These offers are loaded based on you spending history. If you don’t use the card for purchases, you won’t see any offers.
  • Prescription savings. They partner with this company to offer discounts on prescriptions. (I have no idea if this actually works or if the discounts are useful for someone who has insurance coverage.)
  • Phone refill discounts. Use your prepaid card to refill your phone balance, and get $1 back on each $25 of spend.
  • Virtual account number. You can get a one-time use account number for online purchases, similar to a benefit offered by Citi on their credit cards.

H-E-B Card

Direct Link

This is mentioned on Fatwallet as another card which can come with a 5% savings account on balances up to $5000. While the . I can attest to this as well.

The HEB/Netspend card appears as part of the Netspend website itself, and you’ll login to your account from the netspend.com website. The standard Netspend card is backed by MetaBank while the H-E-B version is backed by BofI. This card does not have the referral program like the other Netspend cards have.

The only different between this card and the other Netspend cards is that the H-E-B version comes with a $2.95 initial-ordering fee.

Our Verdict

These Netspend cards are, perhaps, the best option from all the 5% prepaid/savings accounts. These cards have no fees as all, while the Paypal and Control prepaid cards – also Netspend clones – have a non-waivable monthly fee of around $5 which eats into the total value of the cards.

While some of these accounts do need a one-time $500 ACH deposit to enable the Savings Account option, it should be smooth sailing afterward. This makes it arguably better than the Mango account which yields a similar interest rate but require a $500 monthly direct deposit. Also, the Netspend, Ace, and Western Union cards don’t even need the initial $500 deposit at all, as explained here.

Two downsides of these Netspend cards:

  • the interest is issued quarterly (versus the Mango monthly)
  • there is a 90-day inactivity fee which we have to be sure to avoid

See also Guide to 5% Interest Prepaid/Savings Accounts where we round up all the options for 5% savings accounts.



143 Responses to Netspend 5% Savings Accounts on up to $5000

  1. JB says:

    Nice round-up but I’m missing one important point: how do I get money out of the account without having to spend it and/or pay any fees? With the Paypal clone it’s easy to transfer funds (like the quarterly interest) back to the PP account and then withdraw it from there to the bank account of my liking but what about these non-Paypal cards?

    If it’s just as easy I’m inclined to switch to a non-fee version since, like you mentioned, the $4.95 monthly fee really eats into the interest yield…

    Looking forward to tomorrow’s follow-up 😉

    • Zhiyu says:

      Just do an ACH pull from a linked bank account to get your fund out.

      There are generally two ways to avoid the inactivity fee. One is to move the interest generated from the savings account to the checking account every three months and then pull it out. The other way is to setup an automated ACH push of 1 dollar into the netspend account, and another automated ACH pull of 1 dollar every three months. I use discover bank to do the second option and it’s pretty easy.

    • JB says:

      Thanks I hear what you say. Just curious as we all know with the Amex prepaid products it doesn’t work like this…

  2. Zhiyu says:

    By the way, there are blog posts suggesting that internal transaction of funds between netspend checking and savings accounts is not counted as account activity.

  3. Rose says:

    Chuck – Thanks for this in-depth write-up – much appreciated:). This sounds like a good option for an emergency fund.

    1. How quickly can I get my money back out? – 3 days – 7 days – instant?
    2. Exactly how do I get my money back out? Transfer back to my checking account?

    3. How long does it take to transfer from Netspend Savings to Netspend Debit Card in case I just want to make an immediate purchase? Is that an instant online transaction or do you have to wait?

  4. joE says:

    for those that want to max out their savings account, you can ACH the whole amount right off the bat. No reason to transfer $500 to upgrade to Premier and then another $4500 etc. You can do it all in oen shot to save time.

  5. AB says:

    What counts as DD? Would ACH satisfy it?

  6. A says:

    Does anyone know if a 1099-INT be issued for the interest?

  7. barrytuneup says:

    I have these accts. No problem with BOA and Ally bank ach to the card. I’ve sent 5k in one shot (as stated above) to the cards and then xferred to 5% acct. Both banks treat these as ach transfers, but first both did a test deposit to verify. I keep $2-3.00 on the cards and transfer in about $2.00 every 75 days. Then when it builds up I send it to savings and back to Ally. it’s fun!! Fat wallet also has great thread on this.

  8. RY says:

    Just to clarify “Maximum Balance $5,000 (drops to 0.50% APY if over this balance)”

    The 0.50% APY only applies to the amount greater than $5,000 right? So if there is $5,100 in the account, only the extra $100 gets 0.50% while the rest gets the 5%?

  9. joe says:

    can we open one of each (netspend, brinks, WU, ace) account per person? How about for kids/custodial accounts? If they can open them? can they open 1 per name too?

  10. Mike says:

    Awesome to see these finally made a post. I commented about them in a previous savings account post. They truly are a great savings account alternative.

  11. Mark Z says:

    A note on this card/account, for those using ITIN in place of SSN like me. It is perfectly fine to open the account and get the referral bonus using ITIN and even get the notification of eligibility for a savings account. Just like what I managed to. However, you are not able to do the upgrade. The system simply does not recognize the ITIN as ‘valid SSN’, and by calling customer service with a long wait, I got the answer that the upgrade can only be done with SSN.

  12. John says:

    You can use Capital One 360 with netSpend cards. I have been using it for a long time without any problem so far.

  13. Nick says:

    Are these savings accounts FDIC insured?

  14. Ryan says:

    Has anyone had any issues with shutdowns by using PayPal MyCash to load PayPal and then transfer the funds to Netspend? Perhaps a suggested limit/time frame to do this?

  15. joe says:

    First time using my netspend account. In the envelope with my card it says Get Started with Netspend prmier — you have been upgraded. But when I sign in the account it’s still asking me to upgrade to Netspend Premier…. ? What’s up with that/

  16. barschools says:

    I have the paypal prepaid savings account that pays 5% on $5000 with a monthly fee and I want to switch to Netspend which doesn’t have a monthly fee. The interest in paid quarterly on the Paypal account. Should I wait for next quarters interest to post before switching or if I switch now will I get pro rated interest on the current quarter?

  17. Mary Johnson says:

    How is it that these banks pay 5% when the big guys do .01%? Seems a bit odd.

  18. Andy I says:

    So question.. Can I open a Netspend account and also a brinks account, both under my name? and both carry $5K in each savings account and earn 5% on both accounts? Or is this program all under 1 umbrella, where I can only do one or the other?

    Thanks !

  19. Roman says:

    “For those of us who just want the prepaid card for the 5% savings account benefit, the best option is to go with the pay-as-you-go plan. You’ll end up with no fees whatsoever, no signup/activation/monthly fees at all.”

    But I may get Savings account only after upgrade to Premier with $5/month (effective 3.8% APY).

    So how to match up pay-as-you-go plan with Savings account? Cancel Premier and keep Savings? Will Savings be closed as well in this case?

    In pay-as-you-go plan, are ACH outer transfer and Credit Card payments considered as purchase with $1 fee?

    • Eric says:

      No, you don’t need to cancel Premier. Just don’t upgrade your account to the $5 fee one. I forget the name of it but just keep “Pay As You Go” and there won’t be any fee.

      • Roman says:

        Thanks. But again:
        We will need to remove interest from account by either ACH outer transfer and Credit Card payments. In pay-as-you-go plan, are ACH outer transfer or Credit Card payments considered as purchase with $1 fee?

    • JB says:

      Just got the card today. “Upon qualifying an eligible cardholder on the pay-as-you-go-plan must call 1-86-netspend or visit netspend.com to change to the discounted fee-advantage-plan (FAP)”
      There’s a whole lot more text but it seems like you can easily change back to the p-a-y-g plan even with the premier card. Will activate the card and then send $500 there to see what happens.

      • Chuck Sithe says:

        JB, in my experience, the default is that you remain in the PAYG plan. So you won’t have to change anything; just leave it as is (decline any offers for monthly plans) and you’ll remain fee-free.

        You don’t want the FAP, you want the PAYG plan since that way it’s totally free if you don’t make purchases.

        • Solomon says:

          But how do we know if the savings account balance is yielding 5% without the premier 5$ fee account? Wherever they mentioned Savings account they mentioned along with Premier account which has 5$ fee

          • Chuck Sithe says:

            I’d have to check the fine print again. All I can say is that all the folks on Fatwallet are doing this and it’s working.

            I just started so I haven’t gotten paid out yet.

      • JB says:

        “Thank you for setting up direct deposit on your NetSpend prepaid card. … If you are currently enrolled in the Monthly FeeAdvantage™ Plan, the cost of your plan will automatically be reduced on your next billing date. If you are currently enrolled in the Pay-As-You-GoSM Plan,2 login to your Account Center now and enroll in the $5.00 Premier Fee Advantage Plan.”

        So since I’m not changing anything I’ll keep the PAYG plan and pay absolutely nothing. Bye bye Paypal $4.95 monthly fee 😉
        BTW: I didn’t set up anything. Just transferred $800 into the card account from my credit union checking account.

  20. Pingback: Guide to 5% Interest Prepaid/Savings Accounts - Doctor Of Credit

  21. EG says:

    I did this for my wife and I and we each got calls from the Loss Prevention department at Ally delaying the transfers to NetSpend to open up the Savings Account. Highly annoying and probably subjecting my accounts to some sort of audit flag.

    What are people doing to fund $5000 into this without triggering any banking issues?

  22. Matt says:

    I’ve also had issues and CO360 suspended my account for trying to ACH into Netspend.

  23. Vadim says:

    CSR refused to activate my HEB card today because I already have 3 accounts with Netspend( WU, Brinks and Ace) . Did anyone experience the same? Any workarounds?

  24. Larry says:

    My bank wont recognize them as a bank so I can do ACH – Paypal wont let me add them since they are not a real bank and Chase wont let me add them..

  25. Swapnil says:

    I am still confused on what to use for ACH (direct Deposit) to my new netspend account. Can you please clarify which banks work or what can i do? Also, if Paypal works and procedure to setup paypal for ACH. I need it for mango card?

    Thanks in advance

    Swapnil

  26. swapnil says:

    Thanks Chuck!!

  27. bmiled says:

    Both Citi and Huntington did not recognize the MetaBank routing number. Hoping my new Santander Classic will work once their welcome packet finally arrives in the mail.

  28. Mark Zhang says:

    A report. Ally refused to link my Brinks account claiming that “Ally does not allow prepaid cards to be linked as external accounts”. Although in fact, I felt that it was Brinks that messed this up.

    After activating Brinks, I attempted to link it to Ally, but then while waiting for the trial deposits to appear on Brinks, one morning received an email from Brinks saying that there are DDs pending and my account was blocked until I contact customer service. As I called, I found surprisingly that the card was de-activated, and I had to activate it again before I could reach an agent. I did so and one agent said I only need to provide some personal information for verification. I did as requested, and was told that they will take care of the DD after reviewing them. Later in the evening that day, I received a text msg, saying that there was not enough fund for Ally debit. Shocked!!! I called Brinks immediately and was told that the DDs were returned.

    Although I got the amounts of the DD and was able to get the account initially verified at Ally, the ACH push was later rejected and my Brinks was suspended at Ally. I contacted Ally several times, and finally referred to a woman named Kimmi. She seemed to be in the fraud department and initially asked me for a statement of the account for verification purposes. I downloaded a Brinks statement and sent as requested, but nothing happened.

    Finally I was able to get in touch with that Kimmi lady, but was told that the statement showed no activities, so it’s not enough for verifying that the account WAS ACTIVE. This was all she emphasized initially, but after I made a mistake and said the full name of Brinks (Brinks Prepaid MasterCard), she immediately stopped emphasizing the ACTIVE part and went on saying that “Ally does not allow Prepaid card accounts to be linked as external accounts”. That, in my opinion, should be nonsense since my NetSpend card is actively connected and I have seen many people reporting successfully using Ally with NetSpend cards.

    In any case, this process failed. And I had to went to Alliant CU and made it work smoothly. I’ll try a ACE card with Ally again. If I succeed in ACE after it comes, I would blame Brinks and my carelessness (when I mentioned “prepaid”) for this whole mess.

  29. Aks says:

    Something I found on fatwallet posted by boss7d which your readers may find it interesting
    ————
    You have three MetaBank accounts with your card list, you can only have THREE from EACH BANK.
    There are three cards that use MetaBank and those are Ace Elite, Netspend and Western Union.
    There are two cards that use BofI and those are Brinks and HEB, The idea of having two of the same cards (accounts) is only to save the fee for the HEB card. It is only a few bucks but paying for something that you don’t have to goes against the reason we are all here.

    With the list posted you want to get five accounts.
    —————-
    I am up for 4 accounts. I need to test 5th account.

  30. Ken says:

    Paypal wont recognize them anymore even thought they are listed. Citibank does, Chase doesn’t and neither does Vystar.

  31. Chris says:

    When or how often do you get paid interest? I have had money in the 5% savings account for more than a month and haven’t seen any interest paid yet.

  32. Jay says:

    Is the upgrade to Netspend Premier still required? I was able to enroll in the savings account without upgrading and also without adding a direct deposit orACH

  33. Jay says:

    I ordered a Netspend card and activated it last week, then ordered my wife one. Hers has shipped and we are still waiting for it.

    Just tried to sign up for a WU card but on the next page I get an error asking me to input the correct date, but they never asked for the date on the first page. Any way around this?

    Then I gave Ace Elite a go, and it asked for my social and DOB after the first screen. I’ve heard that we should refrain from providing SSN until after we’ve received the card, is this true?

    Any one else with these issues?

    • Tony says:

      I have a problem with ordering ACE Elite too. I tried putting in my SSN and birthday and it keeps giving me “system error”. Did you encounter this too? I called customer service for help and they are probably the worst customer service I have encountered. Super clueless.

      • Eric says:

        I encountered the same error earlier today for Ace.

        • Jay says:

          No I stopped on the screen when it asked for my SSN.
          Update on my wife’s netspend card, we just received it and I tried to activate it and they said couldn’t verify her identity… so I’m calling tomorrow morning about this. Could this be because she is a permanent resident and not a US citizen?

          • Jay says:

            What the hell, both Western Union and Brinks give me an error that says “Please enter a valid date” when I try to order a card for myself, but there is no space that asks for the date???

            And Ace Elite asks for SSN so I can’t order that card either.

  34. Amrit says:

    Hello Chuck and others,
    I like DOC website and your writings!
    Few months earlier I have signup for the Netspend card using Chuck’s link, and deposited $5000 from my discover checking account. I have made two small withdrawals (each ~$30) from Netspend debit account to my discover bank which went fine. But last week I tried to make a large withdrawal ($2000) from the debit account to my discover checking account which initially went but then after 4 days the transaction was reversed. Now discover charges me a fee of $15 for the reversal of the money and no money to pay bills! Today, I called discover first and they said it is the Metabank whom I should be calling. And I did call Metabank and the representative told me that the money is not meant to be withdrawn to your bank account but to be spent using the card! Nice! Then I asked if I can pay credit card bills using Netspend account and routing numbers and the person said yes. So I am trying to pay my credit card and will see in coming days if it is going through without trouble.
    My question does anyone has faced similar problem when withdrawing large amount to money to their checking account? Any data point will be appreciated.
    Thanks

    • Chuck says:

      Odd, I’ve used it to pay credit card bills, even in amounts over $1k, but I had assumed that pulling it to a bank would be fine as well. Let us know how it goes.

      • Amrit says:

        Thanks Chuck for the reply. I am able to pay an initial bill pay ($100) to CitiCards and trying to pay large amount of bill to credit cards. Let’s see how this goes. I may need to try withdrawal through other banks, but the whole point of keeping rainy day fund to these kind of accounts may not be a good idea if we do not have easy access to the money.

        • Chuck says:

          If large credit card payments work it’s not so bad. I think I did a ~$1500 payment to Barclay’s Arrival credit card.

          • Amrit says:

            I am able to pay my Citi card $1500 bill. Also a small $200 bill to Discover credit card went fine.
            So I suppose I need to use as bill pay to unload NetSpend account. Wish my Serve card would be alive for this.

  35. Victor says:

    I was able to link to Barclays for ACH transfer; could not link with Everbank, US Bank or Paypal.

  36. Jonathan says:

    I opened my NetSpend account before reading this sentence:

    “In order to be eligible for the Savings Account, you must first upgrade your prepaid account to a Premier account by making a $500 direct deposit.”

    I’m puzzled, because I went ahead and successfully (I think) opened a savings account before adding anything to the prepaid card balance. Have they changed their rules, or have I inadvertently signed up for the wrong savings account (i.e., one that won’t give me the 5% interest)?

  37. Phil says:

    After successful transfer of $500 to my Netspend accounts to qualify for the upgrade, I tried to transfer more to fill up the $5K limit and was rejected. Is there a max per day?

    • Chuck says:

      Odd, I’ve done many thousands in one day. You’re using ACH transfer?

      • Phil says:

        Yes.

        Netspend stated they had a max limit of $15K so it’s not them.

        One account was suspended by Ally (also Brinks as Mark Zhang had issue with on Nov 7). They wanted an account statement to verify I own it and that they don’t allow prepaid cards.

        I hope the rest aren’t flagged for this…..

        Might be partly my fault for moving it at the same time.

  38. Jon says:

    I was able to do this through Brinks (for my 4th account), after the deadline (2 weeks ago), and as soon as I did the ACH transfer of $500, I was able to get the savings account. YMMV, but it was nice not to have to go through adding a deposit through direct deposit at work.

  39. penny says:

    I am about to open an account, anyone doing referrals for the $20?

  40. Jay says:

    anyone know when the quarterly payouts usually show up in our accounts? It’s 3/31 now and I’m still waiting for the Jan-Mar quarterly payout to post.

  41. anthonyjh21 says:

    I’m curious if anyone here can confirm is the Netspend skins (HEB, Western Union, Brinks, Ace) offer official statements like that can be found on Netspend itself??

    I ask because we’ll be looking into a mortgage later this year and I don’t want to park money into any account that cannot print out an official statement.

    I’m currently determining if Mango offers actual statements (and not an excel data export). The woman I spoke with this morning told me they can send them via email and by snail mail. I asked for both. Hoping what they’re sending me isn’t what I could’ve printed out myself.

    I’ve dealt in the past with banks being cautious with bank statements (circa early 2012) so I’m not going to take any chances.

  42. J says:

    the post wasnt clear, but would a credit card payment count as activity to avoid the 90 day inactivity fee?

  43. Joe says:

    Not sure if anyone has had any issues but I believe my first quarter payout was incorrect for my Western Union account. By my calculations, I should have received around $30-$35 but ended up with only $22 credited. I know it isn’t much but I am still curious what other’s experiences have been.

  44. Tom says:

    Brinks automatically upgraded me to 5% savings after a $500+ ACH from Santander Bank. Same for my wife’s account.

  45. atricus says:

    anyone know where you can reload for free? i was wondering if cvs was one of those places because it would be easy to use the free all point ATM for Nationwide Buxx and then load the cash into netspend.

  46. Chris says:

    Heres my referral link in case anyone needs it!

    http://www.mynetspendcard.com?uref=7678513448

  47. Chad says:

    Sign up through my Netspend link and earn $15 on top of the $20 referral bonus via Flashpay ($35 total)! Leave your Flashpay ID below and I will send you the additional $15 as soon as the referral bonus hits. Link here: http://www.mynetspendcard.com?uref=6273539288

  48. George says:

    How often are people ACH-ing out of the account? I presume there are shutdowns if one tries to treat this card as both a 5% savings account a more expensive Serve?

  49. cprv says:

    So there no fee if you don’t buy anything but then there’s an inactivity fee- how do you avoid both of them? Wouldn’t an buying amazon gift card trigger the purchases fee?

    • Chuck says:

      Yeah, the way to do it totally fee-free is to transfer $1 into the account by doing an ACH push from your checking account. Let me edit the post to make this clearer.

  50. 0456 says:

    I’m waiting for the net spend card to arrive in the mail.

    I want to use chase checking account to send 5K to netspend.

    How do I do this without raising the red flags that everyone is talking about.

    Thank in advance for anyone that knows how.

    • Chuck says:

      I’d try using a different account (not Chase) if I could.

      • 0456 says:

        The only other accounts available to me are Bank of America, SFGI Direct Savings account and Digit

        Feel free to check out Digit if you haven’t already

        http://digit.co/r/K3Sno?sg

        @Chuck Please let me know which would be best.

        • Chuck says:

          I’d try using the smaller ones, maybe SFGI or Digit (I don’t know anything about either)

          • 0456 says:

            Do you know if chase would allow it if I somehow proved it want fraudulent. Like by calling them and telling them that I want to transfer 5k to my “meta bank” account or to the netspend card

          • Chuck says:

            They’ll say something about prepaid’s not being allowed. I wouldn’t recommend it.

          • 0456 says:

            What are other ways (aside from a bank transfer) to fund the account. Where can I move the 5k to then sent it to netspend?

          • Chuck says:

            You can use GreenDot Money Paks in-store, I believe, but those do come with a fee (around 1%).

          • tim says:

            @chuck: Does the ACH need to be a push AND a pull to avoid the 90 day inactivity fee? I have heard conflicting reports that just a push is enough and pull is not needed every 90 days.

          • Chuck says:

            Hmm, not really sure. Could be money has to leave the account to be considered activity, so a PULL might work better than a PUSH. If anyone has any data points, please let us know.

  51. William says:

    I applied an HEB NetSpend several days ago. Before that I’ve applied for WU, NetSpend, ACE, Brinks: my WU has been activated and in use, and the other three are on the way to my mailbox according to those emails I received. But there seems to be a problem with my HEB NetSpend.

    First time I logged-in to the account, the system asked for the answer of my security question (which is normal because I encountered this with other accounts too). However I never got the answer right (tried several times), and I’m sure I was right about my answer. And I never received an email saying my card was on the way.

    Now when I try to log in again, it says “We’re sorry, there is a problem with your account.” and provide a number for me to call them (which is their customer service number 866-387-7363). I called them, but the representative told me he couldn’t see that card on my account.

    So I applied for the card again, setup a new username immediately, and made sure my security answer is correct. Now the problem happened again: After I logged in, entered the security answer, nothing happened (the answer was cleared and I was back to that question again). I’m afraid to try too many time because that might somehow lock my account.

    Has anyone encountered this issue before? What should I do?

  52. Dave says:

    Can anyone confirm that Netspend is lowering the minimum eligible balance from $5k to $1k?

    I saw this today on the “My Account” page:

    “On July 1, 2016, we are changing the tiered balance structure for ALL Savings Accounts to be as follows:

    BEGINNING JULY 1, 2016:

    If the Average Daily Balance is $1,000.00 or less, the interest rate paid on the entire balance will be 4.91% with an Annual Percentage Yield (APY) of 5.00%.
    If the Average Daily Balance is more than $1,000.00, the interest rate paid on the portion of the Average Daily Balance which exceeds $1,000.00 will be 0.49% with an APY of 0.50%, and the interest paid on the portion of the Average Daily Balance which is $1,000.00 or less will be 4.91%. The APY for this tier will range from 5.00% to 0.54%, depending on the balance in the account.”

      • 0456 says:

        What are you guys thinking of moving to. Any suggestions?

        • anthonyjh21 says:

          If, you know, you actually read the link he just posted you’d get your answer. Instead you update an old blog post for everyone subscribed to get your lazy question.

          For your learning pleasure, per the link above yours provided by Chuck:

          “There are still numerous other options which earn above-average interest rates, including Consumer’s Credit Union which earns 4.59% on up to $20,000, and the Mango and Insight prepaid cards. See “Which High-Interest Savings Account Should I Get?” for a run-down of all the options for high-interest accounts and for the best standard rates as well.”

  53. Paul says:

    They just killed it (almost).
    As of July 1, it’s 5% on first $1000, 0.5% on nest $4000

  54. Marc says:

    Simple question here I hope. For now, I don’t care about the savings accounts and all that, as I am just starting to try to make a little extra cash on MTurk. If I use the ACH for my netspend card, will I have any trouble transferring funds from my Amazon Payments accout, or will they end up rejecting it. This is the first time I have tried withdrawing any money, I’ve only been doing this a couple of weeks and I’m trying to withdraw the $90.00 I have just transferred to my Amazon Payments account.

  55. Marco says:

    Has anyone been charged an inactivity fee?
    I’ve had the Brinks Prepaid Mastercard Account for over 1 year now and haven’t made any transfers in or out since my opening deposit.
    I keep $0 in the checking account and $1020 in the savings and have never been charged a fee.
    I’m thinking the fee may apply only to the checking account balance?

    • Tomtoo says:

      I only remember reading one person’s post who was in similar circumstances. I don’t remember which card, but they reported that when they did eventually transfer money to the checking account, they were debited whatever fee had been due even though no fee had been listed in the checking account prior to that transaction.

      To answer your question, I have been charged an inactivity fee. My life was very busy and I forgot to do a deposit before the deadline, and hadn’t set up an auto-transfer.

  56. KD says:

    My Q1 2017 interest has not posted. I was the new quarterly statement with no interest. Do others see the same? What is going on?

  57. Simon says:

    Yeah me too? Maybe needs to update over the weekend?

  58. Skor says:

    Same here, no interest posted. Did the terms / requirements change?

    • Fufu says:

      My interest credit finally posted yesterday. April fool’s on us I guess

    • Ruby says:

      Interest came on 4/3 on my account. Maybe they post the interest on the first working day of the quarter? This is for my Netspend + WU Netspend account. I didn’t have enough funds on my Ace or Brinks to get interest.

  59. Alice says:

    I just logged into my Netspends for the first time this quarter and on my transactions page, the Q1 2017 is not showing. The last transaction showing for the savings accounts is the 12/31/16 interest. However, on looking at the April statement in the statements viewer, the interest is there. This is the same for 2 x regular Netsepnd and 2 x WU Netspend (self and spouse). So, 4 instances of the exact same pattern.

  60. LC says:

    if you want a $20 bonus for funding the netspend, here is my referral code: 4605954563

    Thank you.

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