You might be wondering if it’s possible to send money from your Netspend prepaid card to your bank account. Well, in this article, I am going to teach you how to transfer money from Netspend to bank account, how long it takes and the banks involved. So, keep reading till you acquire the needed knowledge to make your transfer process easy.
Netspend is a payment institution owned by Global Payment PLC. It issues prepaid debit cards to users to help ease their buying process both online and in shops without having to move around with cash. Its headquarters are in Texas.
As part of their services, Netspend users can open a Netspend account online, get their card activated and use it for the payment of bills, sending money, buying and paying for goods and services, and many other functions.
Interestingly, Netspend is safe to operate with because it is FDIC insured hence your funds are safe at any time. It partners with some banks in the US such as Metabank, National Association, Republic Bank, and others who issue Netspend cards. So with your Netspend card, you can do various transactions including sending money to banks. So I will take you through how to send money from Netspend to a bank account.
Can I Transfer Money From Netspend To Bank Account?
Although there are no specified or direct ways of transferring money from your Netspend to a bank account, it is not impossible. There is a way to transfer money from your Netspend to your bank account indirectly. So the answer to the question above is Yes, you can transfer money from your Netspend to your bank account. Haven established that, let’s now see how the transfer can be done.
How To Transfer Money From NetSpend To Bank Account – In 4 Ways
I know you have been itching to know how you can transfer money from your Netspend to your bank account. Sit back and let me take you through four ways that you can achieve that.
To use this means, you will have to learn how to send money from Netspend to Paypal here. Netspend works easily with Paypal so to do this, you will have to link your Netspend to PayPal. Then the money will be sent from your Netspend to PayPal before sending it to your bank account.
Transferring money from Netspend to PayPal requires you to request funds from your Netspend account through PayPal. For you to be able to send or withdraw the money from your PayPal to your bank account, you will have to link your PayPal to your bank account.
How To Link My Paypal to my bank account.
To link your Paypal to your bank account, you have to take these steps. Remember that it is not possible to withdraw money from Paypal to a bank account if you haven’t linked the account.
- Log in to your PayPal.
- At the top of the homepage, click on wallet
NOTE – if you are doing this with a mobile phone, there would be no wall. What what you have to do is to clock MENU
- In the Menu, tap on the link to my bank account.
- Choose your bank from the list that would display. If your bank is not on the list, click on “Don’t see your bank.
- Enter the name of your bank
- Then click on either ‘link my bank account instantly or manually after your details must have been entered.
If you still want to know how to transfer money from Netspend to bank account, then consider using Cash Deposit. This is quite a very easy step but requires time and energy. In this case, you will have to withdraw the money from your Netspend account through an ATM. After withdrawal, you go and make a cash deposit. The cash can be deposited at the bank or through any retail outlet whereby they accept cash and credit your bank account.
This is another way you can transfer money from Netspend to your bank account. Using Western Union is just like the method of using PayPal that has been described above. Western Union is used to send and receive money from anywhere in the world. It also works with Netspend for the sending and receiving of money.
In this case, you will send the amount of money that you wish to transfer to your bank account from Netspend to your Western Union first and then from your Western Union to your bank account.
However, transferring from your Western Union to a bank account does not require linking your account. All you have to do is to log into your Western Union account or sign up if you do not have one already. Select an amount to transfer, enter the receiving bank account details, select payment method, and confirm.
The last thing I would be explaining about how to transfer money from Netspend to a bank account is by withdrawing from Netspend retail outlets such as Walmart, CVS, Walgreens, etc. All you have to do is to locate any Netspend reload locations around you. Ask the cashier to help you withdraw from your Netspend and deposit it into your bank account. Here you will be charged a service fee.
Can I Link My Netspend Card To My Bank Account?
Yes, you can link your bank account such as Chime bank to your Netspend account. However, note that this is not one of the ways to transfer money from Netspend to a bank account. Linking your account makes it easier to load your Netspend card from that account but you cannot transfer to it directly.
Read more on how to link your bank account to Netspend here.
How Long Does It Take To Transfer Money From NetSpend To Bank Account?
Transferring money from Netspend to any bank account be it PayPal or Western Union takes within 3 to 4 business days. This is because it is an ACH transfer and it takes not less than one day to process.
However, when the money has been moved to those accounts, the length of time it takes to transfer it to your bank account and for it to reflect in your bank account balance is determined by your bank. So do well to check your balance to know if it has reflected.
How Much Would I Be Charged To Transfer Money From Netspend To Bank Account?
The amount of money that you will be charged to transfer money from your Netspend to your bank account greatly depends on which of the ways you used.
Netspend does not charge any fee to transfer to either PayPal or Western Union because it is an ACH transfer. However, transferring from those means to your bank account would cost some charges.
Furthermore, should you choose to deposit cash into your Netspend, you will either be charged an ATM fee and using any of the retail partners like CVS, Walmart, etc, you will be charged a fee of not more than 5 dollars.
This article has been able to explain in detail how to transfer money from Netspend to bank account. Take note of the fact that they are not direct ways but they are possible ways that the transfer can be done successfully. It will take some time to reflect in your bank account and you will be charged according to your bank’s requirements.