Millions of prepaid debit customers prefer NetSpend financial tools given the company’s size, product flexibility and security. The “Pay as You Go” NetSpend Prepaid MasterCard is a superior product for prepaid card holders that tend to only use it occasionally. Besides the Pay As You Go plan, NetSpend also provides the “Fee Advantage” plan, and the “Premier Fee Advantage” plan (direct deposit only) for those customers that have a desire to transact more frequently.
Review of the NetSpend MasterCard Prepaid Card (Pay As You Go Version)
The Better Business Bureau rates NetSpend Corporation very high when it comes to satisfying clients. The added security of FDIC account protection along with MasterCard’s Zero Liability program make the NetSpend family of cards beloved by millions nationwide. Ample loading options, worldwide acceptance of MasterCard and a great online account management system are a few of the benefits that you will receive should you choose to go with the NetSpend MasterCard Prepaid Debit Card. Here are a few more you might like to know about:
- 100% Approval – No credit check needed (ID verification required).
- Get your paycheck, government benefits and tax refund faster with free direct deposit
- New – Get rewarded with NetSpend Payback RewardTM options.
- Real-time account activity alerts to your mobile phone.
- Funds are FDIC insured up to the current coverage limit (ID verification required).
How We Rated the NetSpend Pay As You Go MasterCard
NetSpend Pay As You Go MasterCard Fee Examples
Want to know how much the NetSpend Pay As You Go MasterCard might cost you to use in a typical month? We have crunched the numbers for you! We also show how NetSpend Pay As You Go MasterCardstacks 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.
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*
||ATM Balance Inquiry:||$0.50
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).
* Fees verified as of 01/18/2011. 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 NetSpend Pay As You Go MasterCard in a "signature" transaction, select "Credit" when checking out at a brick and mortar merchant. Most internet transactions are automatically processed as "signature" transactions.
NetSpend Pay As You Go MasterCard 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 Fee Advantage" 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)