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This post is very similar to the post I wrote about netSpend savings account: https://www.fatwallet.com/forums/finance/1432026/ 

Brinks Money and netSpend belongs to the same parent company, so we do not know if you can get the referred $20 bonus if you already have a netSpend account. But this savings account is backed by BofI Federal Bank; Member FDIC and netSpend savings account is backed by MetaBank; Member FDIC. So you can still get the 5% interest.

Brinks Money itself is a prepaid master debit card account, but there is a savings account attached to it. If you have not had a Brinks Money account in the last 180 days, you can open one and take advantage of this offer. You can put up to $5000 in the savings account and earn 5% interest on it. There is nothing special about the prepaid debit card account and we are only going to use it as the money transfering tool. You can follow the simple steps below to open and fund the account.

(1) Order a Brinks Money Master prepaid debit card through a referral link and create an online account.

(2) It takes about a week or so for the debit card to arrive. Once you have the card, go to https://www.brinksprepaidmastercard.com to activate it with the created online account.

(3) Once inside the online account, you should find the routing number and account number (treated as checking) linked to your debit card.  You can use the two numbers in your external bank account to set up ACH transferring so that using your external bank account you can ACH money into or out of the Brinks Money debit card account.  This ACH transferring will be treated as Direct Deposit.

(4) Use your external bank account to ACH $40 into your debit card account, this will trigger the $20 bonus.

(5) In order to open the attached savings account, you need to upgrade your Brinks Money debit card account to a preferred account. It is very easy to do so because you only need to ACH $500 into your debit card account one time from your external bank account. After doing that, your debit card account will be upgraded to a preferred account automatically. Because we are not going to use the debit card for shopping, we can just keep the debit card in the pay as you go plan and there is no monthly fee.  Otherwise, if you put your debit card in the feeadvantage plan, you need to pay a $5 monthly fee, so don't do it.

(6) After you have a preferred debit card account, you can open a savings account which is linked to your debit card account.  Use your external bank to ACH $4500 into your debit card account.  Then you can internally transfer the $5000 from your debit card account into your savings account.  The $5000 will earn a 5% interest in your savings account.

(7) Note that if you do not have an activity in your debit card account in 90 days, Brinks Money will charge you a maintenance fee. But it can be easily avoided.  You can schedule ACH transfers in your external bank account to automatically push $5 into your debit card account and then automatically pull $5 out of your debit card account. This will generate the needed activities.

(8) Following the same steps, you can also open an account for your spouse if you want to put in another $5000.

Now enjoy your Brinks Money savings account which is earning a 5% interest at this time.

Summary:

No hard pull.

Steps (4), (5) and (6) can be combined. You can just ACH $5000 to get the bonus, preferred status and savings account. Then you can just transfer the $5000 from the debit card account into the savings account.

Interest is posted quarterly.

Verified banks which allow ACH into netSpend or Brinks Money account: Boeing Credit Union, ETrade , PenFed, Ally, Santander bank's extra20 checking account, EverBank, Citi Bank.

Other people reported that Alliant, Amazon Payments, Bluebird, Fidelity, ING Direct/Capital One 360, Discover may also work. 

If you have a joint account, you'd better use your own login to sign on to your bank account and do the transfer to/from Brinks. Otherwise, Brinks may decline the transfer.

Do not set up your external bank transfer before you receive your Brinks prepaid card and activate it, otherwise your external bank may lock your account for transferring money to the Brinks account.

You can transfer money between your netSpend account and Brinks account because they are using the same system and each account has a FlashPay ID. In netSpend account, click MOVE MONEY->SEND MONEY, set up a contact using your Brinks account's FlashPay ID, and then you can transfer money to this contact. Note that you need your netSpend debit card number and CVC2 to do the transfer.  Vice versa, you can transfer money from your Brinks account to your netSpend account.

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Most Recent Posts
This is a recent change from 7/1 where it's 5% for $1000 for netspend based accounts. It used to be $5000

stallionunleashed (Jul. 08, 2016 @ 11:43a) |

Check this out instead: https://www.insightcards.com/

Also Mango, but Mango has been really jacked up lately.

cameron2003 (Jul. 08, 2016 @ 12:04p) |

100

jaylenbrown (Aug. 07, 2016 @ 3:53p) |

Note: Interest on the Savings Account portion is paid quarterly.
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Have you confirmed that you can stay on the "Pay As You Go" (no monthly fee) plan after direct depositing $500? Website says that direct depositing $500 will automatically upgrade you to the "Preferred Fee Plan", which has a $5 monthly fee. Perhaps you can downgrade after setting up the savings account.

mapen said:   Have you confirmed that you can stay on the "Pay As You Go" (no monthly fee) plan after direct depositing $500? Website says that direct depositing $500 will automatically upgrade you to the "Preferred Fee Plan", which has a $5 monthly fee. Perhaps you can downgrade after setting up the savings account.
  I will confirm with my friend.  He has this account for two months now.

mapen said:   Have you confirmed that you can stay on the "Pay As You Go" (no monthly fee) plan after direct depositing $500? Website says that direct depositing $500 will automatically upgrade you to the "Preferred Fee Plan", which has a $5 monthly fee. Perhaps you can downgrade after setting up the savings account.
  NetSpend has the same wording, yet you are allowed to remain in the no monthly fee plan.

wqshmswee said:   
mapen said:   Have you confirmed that you can stay on the "Pay As You Go" (no monthly fee) plan after direct depositing $500? Website says that direct depositing $500 will automatically upgrade you to the "Preferred Fee Plan", which has a $5 monthly fee. Perhaps you can downgrade after setting up the savings account.
  I will confirm with my friend.  He has this account for two months now.

  Just confirmed that you can stay on the "Pay As You Go" plan after direct depositing $500.

Gonna give this try, 5% is too good to pass up... Thanks for all the work it took to share this with us!

As a point of clarification, are you saying that only these banks are acceptable for ACH transfers in? This would mean my local credit union, Wells Fargo, etc. are not acceptable sources for funding?

"Verified banks which allow ACH into netSpend or Brinks Money account: Discover, Boeing Credit Union, ETrade , PenFed.

Other people reported that Alliant, Amazon Payments, Bluebird, Fidelity, ING Direct/Capital One 360, Paypal may also work."  

seems like tremendous amount of work and details just for a measly 25.00 interest (taxable). Even with the 20..00 bonus, Ill stick to untaxed credit card signups and rewards. And I bet it's a hard pull even if you say it's not.

barrytuneup said:   seems like tremendous amount of work and details just for a measly 25.00 interest (taxable). Even with the 20..00 bonus, Ill stick to untaxed credit card signups and rewards. And I bet it's a hard pull even if you say it's not.
 

  There hasn't been a hard pull on the four prepaid accounts that I have. I can't see why Brinks is going to need one..

Do not know about wells fargo.  Verified ACH banks mean some people already used them before.

No hard pulls for two accounts of my family at least.  So it is most likely no hard pull for everybody.

barrytuneup said:   seems like tremendous amount of work and details just for a measly 25.00 interest (taxable). Even with the 20..00 bonus, Ill stick to untaxed credit card signups and rewards. And I bet it's a hard pull even if you say it's not.
  5% interest on $5000 is $250 a year on a savings account that, after 30 min of setup time (spread over a week or two), requires 2 min every couple months to avoid fees.
Gotta have some place to put all those $100 CC signup bonuses and rewards.  

How many prepaid accounts (prepaid plus savings account) can one have?

JILL10 said:   How many prepaid accounts (prepaid plus savings account) can one have?
  One product for each person. So you can have one brinks account and one netspend account.

wqshmswee said:   This post is very similar to the post I wrote about netSpend savings account: https://www.fatwallet.com/forums/finance/1432026/ 

Brinks Money and netSpend belongs to the same parent company, so we do not know if you can get the $20 bonus if you already have a netSpend account. But this savings account is backed by BofI Federal Bank; Member FDIC and netSpend savings account is backed by MetaBank; Member FDIC. So you can still get the 5% interest.

 

  
Did not see the answer, either here or on the Brinks Money website - hoping you might be able to answer.

Your NetSpend post indicated you needed a referral link, but I didn't see this requirement for this account. Is one not needed here? Only $20, but would rather not miss out on it.

Thanks

tbuccelli said:   
wqshmswee said:   This post is very similar to the post I wrote about netSpend savings account: https://www.fatwallet.com/forums/finance/1432026/ 

Brinks Money and netSpend belongs to the same parent company, so we do not know if you can get the $20 bonus if you already have a netSpend account. But this savings account is backed by BofI Federal Bank; Member FDIC and netSpend savings account is backed by MetaBank; Member FDIC. So you can still get the 5% interest.

 

  
Did not see the answer, either here or on the Brinks Money website - hoping you might be able to answer.

Your NetSpend post indicated you needed a referral link, but I didn't see this requirement for this account. Is one not needed here? Only $20, but would rather not miss out on it.

Thanks

  Need one. But if you already have netSpend, you may not get this $20 bonus, but you can try.

I signed up for this and then tried to sign up for a netSpend account and it told me I already had a card on the way.

hpmax said:   I signed up for this and then tried to sign up for a netSpend account and it told me I already had a card on the way.
  Hmm interesting.  So either it's one account but not both or you need to sign up for the netSpend first maybe?  Anyone try the netSpend then Brinks?

I apologize, I stand corrected,. probably will do it. Was 1/2 asleep while reading this post and answered!

how does one get the bonus? No mention anywhere I can see.

S197 said:   
hpmax said:   I signed up for this and then tried to sign up for a netSpend account and it told me I already had a card on the way.
  Hmm interesting.  So either it's one account but not both or you need to sign up for the netSpend first maybe?  Anyone try the netSpend then Brinks?

  Or clear cookies or use pron mode (incognito in Chrome)?  Just guessing... 

hpmax said:   I signed up for this and then tried to sign up for a netSpend account and it told me I already had a card on the way.
  You need to wait for at least 24 hours after you sign up for one product, then you can sign up for the other one. They check your home address and think you have applied already if you sign up within the same day.

Has anyone determined if the netSpend referral bonus is separate from this bonus yet?
I have been able to get the netSpend bonus and the PayPal Prepaid (only $5) bonus simultaneously. Though I now see that with no option for the pay-as-you-go plan, the PayPal-branded netSpend card is lesser than this Brinks version or the original netSpend card.

Having noticed this error in my ways, I did a search for other "branded" netSpend prepaid products. A few came up, but the only other one (other than the original netSpend and this Brinks card) that I found that offered both the 5% APY savings account and the pay-as-you-go fee structure is from Western Union (it has the $20 referral bonus, too): https://www.wunetspendprepaid.com/

cabadrin said:   Has anyone determined if the netSpend referral bonus is separate from this bonus yet?
I have been able to get the netSpend bonus and the PayPal Prepaid (only $5) bonus simultaneously. Though I now see that with no option for the pay-as-you-go plan, the PayPal-branded netSpend card is lesser than this Brinks version or the original netSpend card.

Having noticed this error in my ways, I did a search for other "branded" netSpend prepaid products. A few came up, but the only other one (other than the original netSpend and this Brinks card) that I found that offered both the 5% APY savings account and the pay-as-you-go fee structure is from Western Union (it has the $20 referral bonus, too): https://www.wunetspendprepaid.com/

  The netSpend product is backed my Metabank, the brinks product is backed by BoI bank and the western union one is also backed by Metabank. If we will get double $20 bonuses, I think we will get from netSpend and brinks, not from netSpend and western union because WU and netSpend are using the same bank.  But we may not get double bonuses at all. Nobody knows for sure yet, but I may get some data points soon.

Western Union specifically states that you cannot get a referral bonus if the "referred individual had a NetSpend card that was used for a value load, purchase, cash withdrawal, or incurred a balance inquiry fee at any time during the 180 calendar days before the day the $40 load requirement is fully met."  The Brinks card doesn't have that wording, only that you cannot have ever had a Brinks card before, so I would hope that a double bonus would be possible.

Some guy told me that he does not have a SSN, instead he used his passport number when activating the netSpend prepaid card. It worked for him! I was wondering what system netSpend is using to check the identity.

Mint.com doesn't know of Brinks money yet

Was anybody able to use same username for both Brinks and NetSpend? 

I was not able to use the same username.

I think we owe a debt of gratitude to wqshmswee for alerting us to these 5% cards!! Who cares about the 20.00 bonus, but it's a bit extra. Wonder how many folks have these cards with family members so as to maximize interest. Maybe they want to stay below radar.

Anyone know if you can refer your spouse and get the bonus?

how does one get the bonus? No mention anywhere I can see.

You need a referral link. Google for one.

MikesterRX7 said:   
how does one get the bonus? No mention anywhere I can see.

You need a referral link. Google for one.

Or you can PM one of us here.  Better that someone in the community here gets the referral credit, vs. a Google SEO spammer.

MikesterRX7 said:   Anyone know if you can refer your spouse and get the bonus?
  Yes, you can.  I heard that every address can be linked to three accounts for three different people. Just make sure you do not open multiple accounts within the same day.

MikesterRX7 said:   
how does one get the bonus? No mention anywhere I can see.

You need a referral link. Google for one.

  Yes, you can.

Or you can PM one of us here. Better that someone in the community here gets the referral credit, vs. a Google SEO spammer.

Curious why others haven't posted referral links already. Is it against the rules here on FatWallet?


Just make sure you do not open multiple accounts within the same day.

What's the problem with opening multiple on the same day?

Thanks

MikesterRX7 said:   
Or you can PM one of us here. Better that someone in the community here gets the referral credit, vs. a Google SEO spammer.

Curious why others haven't posted referral links already. Is it against the rules here on FatWallet?


Just make sure you do not open multiple accounts within the same day.

What's the problem with opening multiple on the same day?

Thanks

Yes, it's against the rules. And if you ask for one in a forum post, the request will be deleted.

Only PMs work.  

MikesterRX7 said:   
Or you can PM one of us here. Better that someone in the community here gets the referral credit, vs. a Google SEO spammer.

Curious why others haven't posted referral links already. Is it against the rules here on FatWallet?


Just make sure you do not open multiple accounts within the same day.

What's the problem with opening multiple on the same day?

Thanks

  You will get an error message, something like "You have already applied for this card."

MikesterRX7 said:   
Or you can PM one of us here. Better that someone in the community here gets the referral credit, vs. a Google SEO spammer.

Curious why others haven't posted referral links already. Is it against the rules here on FatWallet?


Just make sure you do not open multiple accounts within the same day.

What's the problem with opening multiple on the same day?

Thanks

  Fatwallet moderator will delete your post as fast as they can if you post a referral link.

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