Not sure if this is targeted only or not, but I just received an email inviting me to NetSpend premier which includes the following language:
Unlimited purchase transactions for just $5 per month* Get paid faster with Direct Deposit $10 Purchase Cushion – we'll cover you when you're a little short for FREE** Optional savings account currently featuring a 5.00% APY – Watch your money grow!†
Follow NetSpend on Facebook and Twitter:
* ATM transaction fees are not included in the $5 per month Fee Advantage Plan. Enrollment in the FeeAdvantage Plan is optional, you may choose to pay per transaction if you prefer. See your Cardholder Agreement for details.
** The $10 Purchase Cushion is not an extension of credit. The $10 Purchase Cushion for NetSpend Premier cardholders is a non-contractual courtesy exercised in our sole discretion, by which we may approve transactions that you request from time to time that create up to a $10.00 negative balance on your Card. You may receive only one $10.00 negative balance allowance at a time.
† NetSpend Savings Accounts are made available to cardholders through MetaBank™, member FDIC. Interest is calculated on the Average Daily Balance of the savings account and is paid quarterly. Annual Percentage Yield (APY) is accurate as of 02/05/2013: this is a promotional rate and may change without notice pursuant to applicable law. No minimum balance necessary to open account or obtain the yield. A cap may be placed on the maximum amount of funds maintained in the account. The cap may be exceeded by interest accruing on the funds. The cap may change. Because savings funds are withdrawn through the card account, card transaction fees could reduce interest earned on the savings account.
I'm sure some folks can get creative with this promo...
KYBOSH said: I read through those posts (2008, 2010). Love to hear from someone how actually has this account.
I had it with no cap on how much I put in. This ended this year for me. I requested a check and I was charged $5 for it so I was happy, just pissed it ended for me. I am limited to $5000 now so we just closed it.
KYBOSH said: Thanks Mike, How did you satisfy the DD requirement?
Those were waived for me, but I can tell you that I was able to link my Chase account to my Netspend and transfer money easily to the account. Check to make sure this fulfills the requirement. The other thing was they have a routing number and account number so my wife's company was able to DD her paycheck in it. You may be able to set up certain amounts from your work directly into the account.
I think the difference from Mango is that w. NetSpend you can add money with reload cards, potentially purchased with credit cards. In order to do that with Mango, you have to go through PayPal which could be problematic. I haven't gotten the NetSpend card yet, but I'm considering it.
Hummm i didnt think about that. Although it cost you a little to buy the reloads thats not a bad idea for a card with a 0% promo. I had a chance to get a netspend card yesterday. I balked when i say the monthly fees as i didnt remeber this thread at the time. Gotta verify if bank ACH satisfy DD requirements first. Fees kill the deal.
I already have 2 Mango accounts enjoying 6% but the 5k limit really sucks. You guys must have been loving this 5% account when it was uncapped.
hpack said: KYBOSH said: I believe Mango has a $500/month DD requirement for no monthly fee and not $50. Cant remember/find how much is needed for premium savings account rate but I think it might be the same.
True, and both UnionPlus and Change will wave the monthly fee if you DD $500.
That's my problem w/ the netspend card. You have to DD $1000/month and they still charge you a $5/month fee.
hpack said: You're right. $500 is the minimum DD. But again, you can get the exact same terms & provider from paypal prepaid debit w/ NO DD requirement. (just have to use it once a year to keep it active).
Thanks. I'm trying to figure out which reload cards work for each different Prepaid card (feel free to PM). Since Vanilla Reloads are so hard to find I'm looking for other options. 5% is nice since Bluebird pays nothing. Of course the whole thing will be moot if all reload cards go cash only.
lokimoki said: Can someone suggest (or PM) possible places to buy NetSpend reloads with credit cards? (NetSpend reloads also work with PayPal Prepaid Mastercard). Cannot Verify Success, but a local store near me has been running a $5 off promo on NetSpend (small placard in the GC display area). They accept CC for other cards that are of more interest to me so I haven't tried these out myself, though. Other locations near me don't show the promo but do carry the cards.
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
Earn Cash Back while you shop - just 3 simple steps.
1. Sign Up so we know who to pay! (It's FREE.)
2. Shop through FatWallet for deals from your favorite stores. Your online purchases earn Cash Back that builds in your FatWallet account.
3. Get Paid by requesting a payment via check or PayPal.
FatWallet coupons help you save more when shopping online. Use our Coupons Search to browse coupons and offers from thousands of stores, gathered into one convenient location.
As part of our FatWallet Community, you can share deals with almost a million shoppers in our forums. Forum content is generated by consumers for consumers. Share deals, money-saving tips, and more. It's FREE, fun, and addicting.
Our customer experience team is here around the clock - real people ready to assist.