NetSpend MasterCard Prepaid Card (Pay As You Go Version)

How We Rated This Card

Card Features Fees Disclosure Clarity BBB Rating Load Options Overall Rating

Rating Explanation The NetSpend line of prepaid cards continue to receive some of our highest scores for their features and for their load options (you can load these cards in tons of different ways). Also, the company behind the NetSpend cards (NetSpend Corp.) is very highly rated by the Better Business Bureau (which shows that they are serious about dealing with consumer issues). The only reasons why this card is not the absolute highest rated card is because the fees are slightly higher than some other cards. (which is typical for a "pay as you go" card). However, if you are a light user of your card (and make few ATM withdrawals and PIN purchases each month), this card is extremely inexpensive. If you have a need for heavier use (and additional features such as a credit line), we recommend the NetSpend Premier line of cards.

Card Fee Examples

Want to know how much this card might cost you to use in a typical month? We have crunched the numbers for you! We also show how this card stacks up against some common alternatives so you can see if you would save money using this card. Please remember -- cost should NOT be the only reason why you pick a card -- make sure to consider the card's features (some cards have more features than a typical bank account).

To see different scenarios, change the following variables.

	Number of transactions each month	NetSpend Pay As You Go MasterCard	Bank of America "Regular" Checking	Check Cashing Store
Monthly Fee	Once per month	$	$	$
Cash paycheck (per month)	$	$	$	$*
ATM Withdrawals	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	$
Bill Payments	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	$
Online Purchases	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	N/A
In-Store Purchases***	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	N/A
Overdrafts:****	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20		$	$
Total		$	$	$

Note: * Based on a U.S. Average check cashing rate of 4.54% (per the Brookings Institution),
**Using the Money Order fees from the U.S. Post Office (Some of the lowest available),
*** We assume that 1/2 of your in-store purchases will be made using your PIN,
****A LARGE portion of Americans experience at least 1 overdraft each Month. Also note that the Check Casher CANNOT buy items online, and must use cash for all purchases.

Fees Associated With The NetSpend Pay As You Go MasterCard*

Activation Fee:	$0.00	Card Limit:	$2,500
Monthly Fee:	$0.00	ATM Withdrawal:**	$2.50
Signature Transactions:***	$1.00	ATM Balance Inquiry:	$0.00
PIN Transactions:***	$2.00	Bill Payments:	$0.00

The NetSpend prepaid MasterCard with the "pay as you go" plan has a very simple fee structure. You pay for each transaction, including point of sale PIN and signature debit transactions. You also get charged for certain customer service phone calls and IVR calls, so if you need help, use the Internet service portal at NetSpend. With normal use, your primary fees will be the per-transaction fees and ATM fees ($2.5 for withdrawals, in addition to any fees charged by the ATM operators). If you need special assistance (like a stop payment of a bill pay transaction, or a new or replacement card, additional fees will be charged).

Notes:
* Fees verified as of 01/02/2010. Check the Current Terms & Conditions for a list of all the fees.
** Some ATM operators may charge a fee for use of their ATMs in addition to this fee.
*** To use your card in a "signature" transaction, select "Credit" when checking out at a brick and mortar merchant. Most internet transactions are automatically processed as "signature" transactions.

Card Options

The NetSpend line of cards comes in a variety of options, including the Pay as You Go plan, the "Fee Advantage" plan, and the "Premier" plan. NetSpend issues both Visa and MasterCard debit cards in each of these plans.

Here are GetDebit’s “Low Fee Tips” for this Card

Many prepaid cards, including the NetSpend Pay as You Go MasterCard, have fees that can be avoided with careful use. Here are a few tips to minimize your monthly fees and costs associated with this card.

• First reduce the number of ATM withdrawals you make. If you need $200 of cash for the week, take that whole amount in one withdrawal from the ATM (assuming you have enough funds in the account!). Don't withdraw $20 or $40 at a time (the fees add up FAST).
• Save paper. Don't order paper copies of your account statements. AccountNow (like many prepaid issuers) charge you extra to receive statements by mail. Why not save a tree and save yourself some money?
• Treat your card like a checkbook. Don't try to take money out when you don't have it (you won't get an overdraft charge, but you could get a "decline" transaction at an ATM).
• Avoid the need for special fees, like stop payments on bill pay transactions, or special customer service.
• ALWAYs use direct deposit (it's good for the planet since it reduces paper, it's good for you, and it's good for your bank account).

Tips for Using The NetSpend MasterCard Prepaid Card (Pay As You Go Version)

• Can I Get a Secondary Card on a Prepaid Debit Card Account?
• Loading Funds On Your Prepaid Card with MasterCard’s rePower Network
• How to Set up Direct Deposit on a NetSpend Prepaid Visa Card
• How to Set up Direct Deposit on a NetSpend Prepaid MasterCard
• Can I Make a Deposit at an ATM to My Prepaid Card?