Safe and quick online money transfer has become a need of the era. In this regard, many customers need help understanding how money transfer from Netspend to Cash App works.
It is quite easy. You need to know a few things about Cash App and Netspend prepaid cards, which we are here to cover!
Is It Possible ToTransfer Money From Netspend To Cash App?
It is possible to exchange funds between Netspend and Cash App. You only need a good internet connection and registered accounts on both. Let’s talk more about how this transfer proceeds.
Before transferring any money from Netspend, you must ensure it is connected to Cash App since the latter only accepts direct deposits from linked accounts.
The only exception is that of a couple of VISA Debit cards that let you work differently with Cash App. You can also send money from a Cash App account, although it can take up to 3 business days.
Since you need to link an account, you must ensure that your Netspend account is active and contains money that can be deposited into the 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
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 of 3 to 5 days as with other bank account transfers.
The bad news? You have to pay an extra fee of 1.5% per transaction. The greater the amount you send, the larger the fee will be.
Keep this in mind, as it is important to have sufficient funds in your Netspend account, or the transfer will fail.
Here are the steps you need to follow to complete a money transfer from Netspend to Cash App.
Open Your Cash App Account
You must 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, which will lead you to another window.
Link Cash App With Netspend Account
You can’t transfer funds directly from a Netspend account to a Cash App account. Therefore, I recommend linking the Netspend account to PayPal for the transaction.
- Open a PayPal account and sign in.
- Then tap on the Profile icon.
- Choose Bank Accounts and Cards in the next step.
- Click on Add Bank Account.
- Provide your Netspend account details and select Continue.
- Verify Netspend account number.
- Then open your Cash App account and choose Banking.
- Select Add Bank and click on PayPal.
- Provide your PayPal account details and tap Continue.
- Verify PayPal account details.
Once the accounts are linked, you can send money from Netspend to Cash App by opening Cash App and then choosing Banking. Click on Transfer and select Netspend as the source account.
Enter the amount of money you want to send and confirm the transaction by tapping on Transfer. There are fees associated with sending money from Netspend to Cash App, but the amount varies per your transfer method.
How To Transfer Money From Netspend To Cash App For Free?
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 the 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 has yet to hear of Cash App? This application became famous a decade back when many users started using it for peer-to-peer money transfers.
You can make direct deposits to this app and use it to send money to other accounts.
Cash App became famous thanks to its user-friendly interface and feature that allows quick online transfer of money.
The payments here are sent as soon as you tap the Send button. On the other hand, there are several ways to send money to the Cash app, which ensures that your account is always loaded.
Initially, the Cash App only allowed users to send and receive money, but now it has been upgraded and will let you use diverse features such as investing savings.
Moreover, a cash card can be used in millions of locations worldwide. It works much like any other reliable VISA Debit card. You can request this card when you open a Cash App account. Cool, right?
Then we come down to Netspend and ask questions like, “What bank is Netspend?”
It is a globally recognized company allowing swift transfer of funds in the US. It was launched in 1999, especially as support for customers with bad credit scores.
Netspend is also supportedsupported by a mobile app that is useful if you wish to manage your finances better and proceed with money transfers easily and quickly. You can also use Netspend to shop online on platforms like Amazon.
This reloadable card can be recharged using any other bank account. Like Cash App transfer, you can use Netspend to transfer money to Chime, from Netspend to another card, or from Netspend to a bank account.
Netspend Prepaid Card In a Nutshell
Before we tell you all the benefits of owning this debit card, here’s a quick overview of the important features of the Netspend Prepaid card.
- The card comes with a $9.95 annual fee.
- Customers using pay-as-you-go subscriptions have to pay an additional $1.50 additional fee.
- Customers using the reduced monthly plan, in addition to $500 per month, must pay a $5 additional fee.
- The debit card does not offer any reward program to benefit from
- You will win a $20 sign-up when you refer Netspend to a friend and they open an account here. However, that friend must deposit at least more than $40 initially.
- 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 look at some of its interesting features 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 reliably improving credit scores.
Generous Referral Program
You will win $20 every time you refer Netspend to a friend, and they open an account there with at least a $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 deposited at least $200 in your account, you will automatically be offered overdraft protection.
However, the offer stands for a day only. If you cannot pay within 24 hours, you will be charged $15 as an overdraft fee.
High APY Savings Account
Netspend also offers a savings account of 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 you to get a Netspend debit card, then the world is full of alternatives 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 fees may apply
Chase Freedom Flex
- With Chase Freedom Flex, you can win a $200 sign-up bonus if you spend $500 within 90 days of becoming a cardholder.
- You can win 5% cash back on purchases from specific categories.
- It also offers a 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 an amazing option for those with poor credit scores.
- 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 the Cash App.
- The credit card carries easy-to-use terms.
Before You Go!
You need to know everything about Netspend and Cash App money transfers. The procedure is simple, straightforward, and easy to learn.
Hopefully, you will have learned it already! Remember to share your experience with us in the comment section below. We are waiting!
Miriam Caldwell is a dedicated & expert freelance writer to educate people about personal finance management and budgeting. She shared her knowledge and published the articles at TheBalance.com, GOBankingRates, and BlissfullyDomestic.com. Many financial institutes pick Caldwell as the brilliant source for educational personal finance content.