No, Earnin does not work with NetSpend card or any other form of prepaid card which means you cannot receive wages from Earnin onto a Netspend card. Earnin has a list of banks and debit card providers that their service is currently compatible with and Unfortunately, Netspend is not on this list.
Want to collect your wages early with Earnin but not sure if it will work with your NetSpend card? Find out everything you need to know in this article.
Earnin is a convenient app for salaried, hourly, and on-demand workers to collect payment for their work without having to wait for their official payday.
This service is great for anyone living check to check as it allows them to reap the benefits of their work on the same day that they do it. If you have a NetSpend card you may be wondering if Earnin will be able to make payments onto it.
This article will tell you a little bit about Earnin and how it works, as well as why it can’t accept prepaid debit cards like those acquired from NetSpend.
We will also cover what a NetSpend card is and how it differs from a regular debit card.
Can I receive advance payments from Earnin onto my NetSpend card?
Unfortunately, Earnin is not able to make advance payments into NetSpend Card and onto any form of prepaid card. On their website, they claim this is because they are unable to guarantee a successful transfer onto these types of cards.
In order to use Earnin, you will need to open a regular checking account.
Because of their convenience and availability, prepaid cards are a popular choice for criminals and other nefarious characters to make anonymous transactions. This is why many of them are not accepted by business-like Earnin which want to avoid potential fraudulent claims.
What is the Earnin App?
Earnin is an app that allows its users to take out advance payments against their paycheck. That may sound complex, but what it essentially boils down to is that you can use this app to get money for your work, before your scheduled payday.
Many people find this app useful for managing their finances and getting cash when they need it. This means that employees can be rewarded for their work on the day that they do it, rather than having to wait for their next paycheck.
How Does Earnin App Work?
Once you sign up, this app will connect to your bank account to confirm what your payment schedule is. With this information, Earnin can calculate how much you earn on an hourly basis at your place of work.
The app will keep track of how long you have worked in a given month, as well as how much money you have accumulated. Should you need to, you can access these funds before your next scheduled paycheck.
In order for this to work, Earnin grants you an advanced payment, which is very similar to a short-term loan. This payment will be deducted from your next paycheck, so you aren’t getting any extra cash, just access to the cash you have earned before your next payday.
Who can use Earnin?
Anyone with a valid bank account can sign up for the Earnin app, although it will only work if you have a job that pays you a regular salary. Employees who are paid by the hour, and on-demand workers can both sign up and use this app to receive the money they work for before their scheduled payday.
However, Freelancers, remote workers, and those who are employed by multiple jobs will not be able to benefit from this app. This is because they do not receive regular enough pay for the app to offer them advanced payments against their paycheck, some of the above jobs will not receive a paycheck at all.
In order to use Earnin, you will also need a valid checking account for your money to be paid into.
What is a NetSpend card?
NetSpend is one of the United State’s leading providers of prepaid debit cards. These cards can be purchased with money already on them, and they will allow you to make purchases at most stores and businesses across the USA. You can top up your card to put more money on it, as well as use it to withdraw money and check your balance at an ATM.
The catch with these cards is that you have to pay a fee to use them. NetSpend offers the choice between paying monthly installments or opting for a pay-as-you-go plan where you will be charged for every transaction you make with your card.
Overall NetSpend cards can be quite expensive to use when compared to a regular checking account however, they are much easier to get. This is because NetSpend does not require any credit checks to sign up for one of their cards. All you need to do is provide basic proof of identity to be able to activate your card and use it for making purchases and other transactions.
How much does a NetSpend card cost?
You will need to sign up for a payment plan in order to use a NetSpend card. There is the choice of paying monthly installments of $9.95 a month or opting for a pay-as-you-go scheme where you will be charged $1.50 per purchase made with the card.
Regardless of which plan you pick, you will still have to pay extra fees when using your NetSpend card at an ATM. Withdrawing money costs $2.95 and checking your balance costs $0.50. Reloading your card costs $3.95 and if you don’t make any transaction on your NetSpend card for over 90 days then you will be charged an inactivity fee of $5.95 per month.
If you have a NetSpend card and want to receive your wages early using Earnin, then you will probably struggle to do so.
There are alternative apps out there that offer advanced loans such as Dave, Brigit, and Even, but none of these companies are compatible with prepaid cards either.
Your only real option if you want to use these types of apps is to open a regular checking account and use your NetSpend cards for other purchases where you need the convenience.