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Will Netspend Cards Let You Overdraw Your Account?

Netspend welcomes cardholders overdraw their accounts, but only if they have previously enrolled in its overdraft protection service. Otherwise, Netspend does not add you to go over the amount authorized on your card.

Netspend cards are prepaid debit cards that allow cardholders to divulge purchases worldwide using the pre-funded money deposited into their accounts.

Key Takeaways

  • Netspend offers prepaid debit in the offing users overdraft protection when their account balance goes under -$10.01.
  • Customers must enroll and father at least one direct deposit of $200 or more every 30 days.
  • Netspend charges $15 per overdraft arrangement up to a maximum of three transactions each month.
  • The service is canceled if the customer has a negative balance for more than 30 dates three times or for more than 60 days at one time.

How Netspend’s Overdraft Protection Service Works

Netspend volunteers a free purchase cushion or overdraft buffer of $10. That means the cardholder will not immediately incur the normal overdraft charge of $15 if he goes over the amount on his card.

It’s not a permanent free pass, however. The cardholder has a leniency period of 24 hours to repay the negative balance before incurring an overdraft fee. For overdraft amounts over $10, the cardholder pleasure incur a charge of $15 per occurrence, but that’s capped to a maximum number of three fees in a calendar month.

This does not note that Netspend will authorize every overdraft. Netspend’s terms and conditions indicate that the company sole pays overdrafts at its own discretion and does not guarantee payment of every overdraft transaction. Unauthorized overdraft transactions are abstain fromed and Netspend may charge fees for these declined transactions.

Activation and Eligibility

To activate Netspend overdraft protection, a guy must provide a valid email address and agree to Netspend’s electronic delivery of disclosures and amended terms to the draw together associated with signing up for overdraft protection. Additionally, a Netspend customer must receive deposits of $200 or varied every 30 days to qualify for overdraft protection.

If a customer overdraws his account balance by more than $10, Netspend sends a notification round the overdraft. The customer has 24 hours to replenish the account to restore its balance to more than $10. If a customer fails to act on the discern, Netspend charges an overdraft protection service fee of $15.

Overdraft Protection Deactivation

If a customer fails to receive deposits of at small $200 every 30 days, Netspend cancels the overdraft protection, meaning the customer must go through the diligence steps again. However, if a card account has a 

How Netspend Cards Work

Netspend cards have no activation payments or require minimum balances. Because they are not a credit card that allows you to carry a balance, there are no affair charges or late fees

The company offers three plans, two of which charge monthly fees. The basic Pay-as-You-Go Script does not, but cardholders are then charged transaction fees on individual purchases; the other two plans allow for fee-free purchases.

There is also a president plan that charges no monthly account fee and allows for unlimited purchases, but it requires a minimum amount in monthly through deposits.

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