Safe and quick online transfer of money has become a need of the era. In this regard, we find many customers having trouble with understanding how transfer of money from Netspend to Cash App works.
Is It Possible ToTransfer Money From Netspend To Cash App?
It is definitely possible to exchange funds between Netspend and Cash App. You only need a good internet connection and registered accounts on both. Let’s talk a more about how this transfer proceeds.
Before you transfer any money from Netspend, you need to make sure that it is connected to Cash App since the latter only accepts direct deposits from linked accounts.
Since you need to link an account, you have to ensure that your Netspend account is active and contains money that can be deposited to Cash App.
Now that you know the major requirement for sending money from Netspend to Cash App, let us explore how the process should be carried out.
Send Money From Netspend to Cash App In 2 Simple Steps
Here’s a good and a bad piece of news if you are thinking about how to transfer money from Netspend to Cash App.
The best part is that the funds can be exchanged within minutes. There is no waiting period for 3 to 5 days as with other bank account transfers.
The bad news? Well, you have to pay an extra fee of 1.5% per transaction. The greater the amount that you are sending, the larger will be the fee.
Keep this in mind as it is important to have sufficient funds in your Netspend account or the transfer will fail.
Now here are the steps that you need to follow in order to complete money transfer from Netspend to Cash App.
Open Your Cash App Account
You have to create a Cash App account by downloading the app on your smartphone and signing up.
Once you are on the main page, click on the icon at the top of the screen and that would lead you to another window.
Link Cash App With Netspend Account
In the new window you will see options that allow you to send money from Netspend to Cash App.
You have to tap on Add Bank option. Then the app will ask you to enter your Cash App account details.
Once you are done, the two account will be linked and then you can transfer the amount you need from Netspend to Cash App.
You can link both Netspend card or Netspend online account to your Cash App.
The account is linked by providing name and other personal details. When you are connecting the Netspend prepaid card you have to provide card details such as its number and expiry date.
Will It Cost You a Lot?
As we just discussed in the section above, Netspend does allow you to transfer money free of cost if you have some time on your hands. Transfers that take up to 5 days are free whereas instant transactions carry extra charges. The 1.5% additional charges employed here have $0.25 as minimum threshold.
If you use a credit card to send money then that would proceed with 3% transaction charges. On the other hand, Netspend to Cash App can be a better alternative if you wish to avoid these charges altogether.
All About Netspend and Cash App
Who hasn’t heard of Cash App? This application became famous a decade back when a large number of users started using it for peer-to-peer money transfer.
You can make direct deposits to this app and use it to send money to other accounts as well.
Cash App primarily became famous thanks to its user-friendly interface and feature that allows quick transfer of money online.
The payments here are sent as soon as you tap on the Send button. On the other hand, there are a number of ways to send money to Cash app which ensures that your account is always loaded.
Moreover, Cash Card can be used at millions of locations worldwide. It works much like any other reliable VISA Debit card. You can request for this card when you open Cash App account. Cool, right?
Then we come down to Netspend.
It is a globally recognized company that allows for swift transfer of funds in the US. It was launched in 1999 especially as support for customers who have a bad credit score.
Netspend is also support by a mobile app that can be quite useful if you wish to manage your finances better and proceed with money transfers easily and quickly. This is a reloadable card that can be recharged using any other bank account. Continue reading if you want to find out more about the benefits of using Netspend Prepaid card.
Netspend Prepaid Card In a Nutshell
Before we proceed to tell you all the benefits of owning this debit card, here’s a quick overview of important features that Netspend Prepaid card carries.
- The card comes with $9.95 annual fee
- Customers using pay-as-you-go subscription have to pay $1.50 additional fee
- Customers using reduced monthly plan in addition to $500 per month need to pay $5 addition fee
- The debit card does not offer any reward program to benefit from
- You will win $20 sign-up when you refer Netspend to a friend and they open an account here. However, that friend needs to deposit at least more than $40 in the start.
- There is no purchase APR
- There is no regular APR
- The card is free of balance transfer fees
Now that you know what Netspend is all about, let us take a look at some of its interesting feature below.
Easy Cash Management Online
When you open a Netspend account you can use its money management tools to handle your finances. You can also utilize them to receive and transfer funds easily. This sort of help can be very fruitful when it comes to improving credit score reliably.
Generous Referral Program
You will win $20 every time you refer Netspend to a friend an d they open an account there with at least $40 minimum deposit. The best part? Your friend will win $20 as well!
Ways To Avoid Overdraft Fees
Typically, users are charged with penalty fees when they go for overdraft. However, if you are a Netspend customer who has deposited at least $200 in your account then you will automatically be offered overdraft protection. However, the offer stands for a day only. If you are not able to pay within 24 hours, you will be charged $15 as overdraft fee.
High APY Savings Account
Netspend also offers savings account that features up to 5% on the first $1000 deposited. You can make and accept payments through your savings account as well.
Alternatives To Netspend Prepaid Card
If this was not enough to convince your for Netspend debit card then the world is full of alternatives that you can try out instead! Take a look.
Capital One Venture Rewards Credit Card
- This is one of the most reliable credit card services in the US
- Capital One Venture Rewards card offers unlimited 2X miles per dollar on all eligible purchases
- The rewards will last as long as you keep your account active
- This card can be used to transfer money to Cash App as well
- Some transaction fee may apply
Chase Freedom Flex
- With Chase Freedom Flex, you can win $200 sign up bonus if you spend $500 within 90 days of becoming a cardholder.
- You can win 5% cash back on purchase from specific categories
- It also offers 5% charge reduction on travel
- You can win 1% cash back on all other other categories
- This card can also be used to send money to Cash App
Discover it Cashback Card
- This credit card is amazing option for those with poor credit score.
- It allows you to win 5% cash back on specific categories.
- Furthermore, you can earn 1% cash back on all other eligible purchases
- You can use it to send money to Cash App
- The credit card carry easy-to-use terms.
This is everything you need to know about Netspend and Cash App money transfer. The procedure is simple, straightforward, and easy to learn. Hopefully, you would have learned it already! Don’t forget to share your experience with us in the comment section below. We are waiting!