To transfer money from NetSpend to a Bank of America: Add your NetSpend Prepaid Card to your Bank of America account by setting up an external account via your NetSpend account and routing number. Verify two small deposits to your account. Once verified, Go to the transfer page on your bank’s website and you can transfer the money.
Since Netspend doesn’t allow direct money transfer to a bank account, you must use indirect means. Continue reading for a more step-by-step guide and alternative ways on how to transfer money from Netspend to Bank of America and vice-versa.
Netspend is popular because people want to eliminate the risk to their bank accounts by paying for purchases with prepaid debit cards.
The cards have access to limited funds you choose to deposit and not the full amount in your bank account. Most people use Netspend prepaid debit cards to make purchases, which means it’s common to transfer money out of your bank account to your Netspend card using the mobile app or website.
When setting up a Netspend account, they require you to link your accounts to enable Instant transfers from your bank to the debit card.
However, Netspend doesn’t allow direct money transfer from a prepaid card to a bank account. If you want to transfer money from your prepaid card to a bank account, you must use indirect means.
This article describes how you can transfer money from Netspend to Bank of America.
We will also walk you through transferring money from a bank account to a Netspend prepaid debit card.
Read: Does NetSpend Charge for Transactions?
How To Transfer Money From NetSpend To Bank Of America?
Bank transfer is a simple and free way to load cash into your NetSpend prepaid debit card.
You can transfer money online, and it takes a day or two for the funds to become available. However, you can also transfer money out of your NetSpend account to your bank account with a little extra effort.
1. Use Paypal
You can use PayPal as a medium to transfer money from your Netspend account to your bank account. If you’ve linked your PayPal account to your bank account, transfer funds from Netspend to your Paypal account and then move them from your PayPal account to your bank account.
- Visit Paypal,
- Sign in to your account,
- Connect your card to Paypal,
- Request funding from the NetSpend card.
- The specific amount you transfer to Paypal will move from the balance in the Netspend card.
Once the funds reflect in your Paypal account, you can withdraw them to the Bank of America account. However, ensure you link your bank account to a Paypal account by logging into your Paypal account and clicking on the wallet at the top of the page. Choose Bank of America and link to your account.
Either link your bank instantly by logging into your account and authorizing the process, or link manually.
Paypal can match your account details with the bank when you link instantly. If these details are correct, the bank immediately appears in the linked bank’s list.
If you are linking manually, you must confirm the details for successful linkage. Once you’ve linked your Paypal account to the bank, request funding of any amount from NetSpend and withdraw from your bank account.
2. Withdraw at Walmart
You can use Walmart to withdraw money from Netspend and send it to your Bank of America account. They have a daily withdrawal limit of $5000 and charge a $3.75 fee per withdrawal. After withdrawing from your Netspend card, request the attendants deposit it into your Bank of America account.
3. Use an ATM
Apart from Paypal, transfer money from NetSpend to your Bank of America account by withdrawing at an ATM and depositing it into your bank account. Use this indirect way to get money to your bank account if you need it there. The ATM withdrawals will charge you $2.5 for an out-of-network withdrawal, though the on-net withdrawal is free.
4. Use Western Union
Another alternative is to use Western Union money transfer to move funds from Netspend to Bank of America. It works with Netspend, allowing you to transfer funds using the prepaid Mastercard. Once you transfer money from Netspend to Western Union, you can transfer the funds to your bank account.
Read: How To Send Money From NetSpend To Wells Fargo?
How to transfer money from the Bank of America to NetSpend?
The online transfer from a bank account to your prepaid debit card is the easiest way to load money on a Netspend card. Netspend prepaid debit cards are attached to accounts with your name and address associated with them.
This includes your bank accounts if you link to your Netspend card accounts. You can also receive money on Netspend from any US bank account, including Bank of America.
Most bank transfers are free with all prepaid cards, and you can complete the transfer online. There are several steps to take when setting up the process.
The first step is to get your NetSpend account and routing number to facilitate the transfer. Every prepaid card has an issuing bank that differs from the card issuer.
The account number identities your prepaid card, while the routing number identifies the bank that issues your prepaid card. You can get this valuable information by logging into your NetSpend account and selecting the add or transfer money button. You will see the information listed under the option to transfer money.
The second step is to add your Netspend prepaid card to your bank account. Start by setting up an external account through your bank to facilitate money transfer into your Netspend account. Banks have a place where you can set up an external account using their bank, account number, and your Prepaid Card routing number. In case you experience any problem, contact your bank for quick assistance.
Before transferring money from the Bank of America to NetSpend, you must verify two small deposits to your account.
You can only log into your bank account once the test deposits are reflected in your account. The verification process ensures that your external account is set up correctly and that all transfers go straight to your NetSpend Prepaid card account.
Once you’ve verified your external account, you can then transfer money from the bank into your NetSpend card account. Go to the transfer page on your bank’s website and select the amount you want to transfer to your NetSpend card.
You’ll need to provide additional information, such as your prepaid card account and the account to transfer the money.
How long does it take to Transfer Money from NetSpend to Bank Account?
This entire process of linking accounts takes a few minutes if PayPal doesn’t hold on to NetSpend funds. You can also use the instant transfer option on PayPal for free to transfer your money into your bank account.
When withdrawing funds from Paypal to a bank account, it will take you between three and five business days for the money to reflect in the bank account.
From the time you start the transfer to the time it completes, it takes about a week, including the weekend.
Bottom Line
Netspend prepaid debit cards are used to make purchases online, transfer funds and withdraw from ATMs.
You can also transfer money out of your Netspend card to the Bank of America bank account. Ensure you understand the rules and associated fees of transferring money from Netspend to Bank of America.
Some banks and financial institutions may have daily transfer limits and fees for transfers.
Check with your financial institution before making any money transfers from Netspend to your bank account.
