Many people would assume that having a prepaid debit card is similar to having a bank account with a debit card tied to it. However, these finance options are vastly different. While the majority of the population does have a bank account, few people realize all the added benefits of using a prepaid card instead. NetSpend’s prepaid debit cards provide worldwide financial access and user control. These benefits and others will be discussed more in-depth below.
One thing that can make opening a bank account difficult are the high minimums required to open a new account. This is not so with Net Spend’s prepaid debit cards. Deposit amounts can be chosen by the user and there is no minimum balance to worry about. Additionally, selecting which type of bank account is right for you can be difficult as well. There are various account options all with their own fine print, not to mention the fact that there are often strict rules about usage depending on the type of account you choose. Net Spend’s prepaid debit cards avoid all of this, and make managing and accessing your money easy and convenient.
Using a NetSpend prepaid debit card is a great alternative to a bank account as they allow users to withdraw cash at ATMs and make purchases worldwide. Also, these prepaid debit cards allow users to view spending and add additional funds online at NetSpend.com, making the process simple and quick. One of the biggest advantages of a Net Spend prepaid debit card over a bank account is the inability to overdraft and incur fees. Spending is entirely defined by the amount loaded on the card. This allows you to have complete control over your spending and put your own personal limits on it.
Direct deposit is another common feature of bank accounts where paychecks can be automatically deposited each month. NetSpend’s prepaid cards also have this option available, which gives users access to their funds immediately. Another option both bank accounts and prepaid cards have in common are transfers between accounts. Just as you can transfer money between bank accounts, you can transfer it between NetSpend prepaid cards. Users of these prepaid cards also have the option to put some of their money into a savings account, just as they could with a bank. These savings accounts offer a 5% annual percentage yield interest rate, a comparable rate to those available with a typical bank savings account.
A NetSpend prepaid debit card has many of the conveniences of a traditional bank account without any of the hassles or fees. Prepaid cards are a great way to have easy and safe access to your money.
