Transferring money to a bank account is one of the many transactions you can perform with the Netspend prepaid debit card. Prepaid cards, debit cards, and bill payment methods from Netspend enable you to retrieve funds from ATMs, transfer funds to a bank account, and pay online. The ability to transfer funds to a bank account is one of the benefits of using Netspend since this allows access to funds for other uses. Your bank account may need money for savings or to repay a loan, among other things. You only need to transfer the money from your Netspend account to your bank account if it is already in your Netspend account. But you cannot send money directly from your Netspend card to your bank account using Netspend.
So, in the following sections, I’ll show you how to transfer money from Netspend to a bank account step-by-step.
Way for transfer money from Netspend account to a bank account
Netspend’s card account does not allow direct transfers to your bank account, so you must use an alternative method.
There are various ways to transfer money from Netspend to your bank account. Using these alternative methods, you can transfer money quickly from your bank account to Netspend. Let’s take a look at them separately.
1. Transfer money by using PayPal
Netspend and PayPal are compatible, and you can transfer money between them. By logging in to your account and connecting your Netspend card to PayPal, you can easily link your Netspend account to PayPal. You can request funds from the Netspend card when the linking is successful. When the Netspend card balance reaches the bid amount, Netspend will transfer the funds to PayPal.
Once the funds are reflected in your PayPal account, you can withdraw them to your chosen bank account. However, you must link the bank account to your PayPal account if not yet connected. To connect your bank account to PayPal, you need to;
- First, you need to log into your PayPal account.
- Navigate to the top of the page and tap on Wallet. You can access your Wallet by tapping Menu and then Walleton the smartphone.
- Then click on ‘Link a bank account.”
- You can choose your bank from the list or tap ‘Don’t see your bank?’ at the bottom.
- Then link your bank.
You will need to manually authorize the link to your bank account. Otherwise, you can instantly link your bank account. Once your bank details match your PayPal account, PayPal will automatically list your bank as a connected bank. You must confirm your details for manual linking to be successful. If your Netspend card is linked to your PayPal account, and PayPal is linked to your bank account, you can request funding from Netspend. When you withdraw money from PayPal to your bank account, it takes around three to five business days for the funds to appear.
2. Withdrawing money from an ATM and depositing it into your bank account
Using this method, you can transfer money from your Netspend account to your bank account. ATM withdrawals are possible through Netspend. This can be a helpful trick if you want to cash in your bank account for various transactions. Sometimes you may have to purchase something or make a specific payment using your bank account. If the money is in another type of account, such as Netspend, you must do all possible to move it to your bank. To withdraw money from an ATM outside of the net, you will have to pay $2.5 per withdrawal. The ATMs on-net is free.
3. Withdrawal & deposit money at Walmart
Fortunately, Walmart accepts Netspend withdrawals at all of its stores. The cost of withdrawing money is about $3.75 per day, and you can withdraw up to $5,000 per day. Walmart also offers direct deposits to bank accounts. Ask the attendant if you have withdrawn money from a Netspend card and would like it deposited into your account.
In addition, Walmart allows you to reload your Netspend card for transactions. If you need to deposit money, tell your attendants and ask them to do so.
4. Transferring money using Western Union
Being one of the largest money transfer companies in the world, Western Union has been providing reliable money transfer services for years. The company works with Netspend, and you can transfer money between their accounts. There is a Western Union Netspend Prepaid Mastercard from Western Union. If you transfer funds from your Netspend card to Western Union, you can transfer them to your bank account. To accomplish this, you must follow a specific procedure as described below:
Open a free account with Western Union and verify it with an original identification document, such as a government ID, driver’s license, or passport.
- Choose a bank account and the amount you want to transfer.
- You will need to enter the details of your receiving bank account.
- Decide how you would like to pay. You can use your Netspend card to pay here.
- Send a confirmation. Tracking numbers (MTCNs) are available for tracking transaction progress.
How do I transfer money from Netspend to a bank card?
The answer to your question is no; you cannot transfer money from Netspend to a bank card that is not Netspend. Netspend cardholders can only transfer funds to each other. Log in to your Netspend card account to begin the transfer process. To carry out the operation, you must have the recipient’s name and FlashPay ID. Once you log in, enter the recipient’s name, FlashPay ID, and the transfer amount and send. It’s as simple as that.
It is also necessary for others to know your FlashPay ID and name to send you money. You can find your FlashPay ID on your online account page under the Online Account Center.
What is the difference between transferring money between Netspend to the same bank and Netspend to another?
Transferring money via bank transfer is common. It’s okay to transfer money to someone else’s bank account, whether it’s your own or not. You’ll only need the recipient’s account number to transfer money from your account to another bank account of the same bank. It might take a few minutes for the funds to show up.
It would be best if you had both the routing and account number of the recipient when you transfer money to a different bank. Sending money across banks might be a bit expensive. In addition, the process takes longer. It usually takes 1-5 business days for such a transaction to go through.
How to find the account and routing number in Netspend?
The routing number and account number help with direct deposits and transferring funds. There are a few ways to find your routing number and account number.
- Open the app and navigate to ‘Direct Deposit’ from the Main Menu in your online Netspend account. Your card account and routing numbers should appear in a grey box, and you can copy and save them for future transactions.
- You can enroll in the ‘Anytime Alerts’ feature of Netspend and get your account and routing numbers by texting DIRECT to 22622, and Netspend will send the number to you.
How long does it take to transfer money from Netspend to a bank account?
Adding Netspend accounts takes a few minutes if PayPal doesn’t hold onto your funds. Also, PayPal has a free instant transfer option to get your money into your bank account immediately. The money will show up in your bank account between three and five business days after you withdraw money from PayPal. It takes about a week, including the weekend, from when you start the transfer to when it’s done.
What’s the Netspend transaction limit?
Netspend has some restrictions on different kinds of transactions, like many others. You can only spend $4,999.99 every 24 hours when you buy stuff. The maximum withdrawal amount over-the-counter is $4,999.99 every 24 hours. ATM withdrawals are limited to $325.00 per withdrawal, $940.00 per day, up to six times a day.
Related : How Much Will NetSpend Let You Overdraft
Is there a fee for money transfers with Netspend?
You will be charged a fee if you contact Netspend for assistance with the transaction. It costs $4.95 for a transfer, and other financial institutions may charge additional fees. Netspend prepaid cards are free, but other banks and financial companies may charge you. You should not proceed with a transaction without consulting the participating platforms and companies about additional fees.