ReallyNeedCash - Beginner's Guide to Cash App & NetSpend

Menu
  • Home
  • Cash App
  • Netspend
  • About
  • Disclaimer
  • Privacy Policy

Is Green Dot And NetSpend The Same? Comparison & Transfer

April 9, 2022

Prepaid cards are the modern-day financial solution to cashless transactions. These cards provide its users with an alternative to spending and carrying cash.

Funds are generally loaded into the card account prior to use and then reloaded once the funds’ availability is exhausted. 

But are Greendot and NetSpend the Same?

No, Greendot and NetSpend are not the same. Although both cards work generally in the same manner but with slight differences. Both Greendot and NetSpend Cards can be used like any other debit card but come with additional benefits for their users and are easy to get with simple identity verifications.

These cards can be used without linking them with a bank account, so you can use multiple cards for your everyday purchases. There are a number of prepaid cards available in the market with different cash limits and fee structures.

For this purpose, it is always advised to go through the cardholder agreement and terms beforehand.

Prepaid cards can be used like any other debit or credit card but come with additional benefits for their users. They are easy to get with simple identity verification including name, address, driver’s license, and other basic information.

You might need to provide your social security number in a few cases as well. They help its user to manage their budget as you can only use the money already loaded in the card account. There is no concept of credit card debt or credit score while using a prepaid card.

RELATED READ: How to Send Money from Green Dot to Netspend? 4 Working Methods

Is Green Dot And NetSpend The Same

Contents

  • Comparison Between Green Dot and Netspend
    • 1. Green Dot
    • 2. Netspend
    • 3. Fee Structure Comparison
  • Transferring Funds Between Green Dot Account and Netspend Account
  • Final Thought

Comparison Between Green Dot and Netspend

The market is currently overloaded with multiple types of prepaid cards and selecting the right card for you could be a tricky affair.

In this article, we will be discussing Netspend prepaid cards and green dot cards to help to decide which better suits you.

Although both cards work generally in the same manner but with slight differences.

1. Green Dot

The green dot is a  financial solution technology and a registered bank holding company that was established in 1999.

With over 21 years of banking experience, it serves over 33 million customers and more than 90,000 retail distributors.

Green dot has been a leading provider of financial products such as debit, credit, prepaid and checking cards.

It provides safer and more efficient ways to transfer funds and spend money. A few of the glaring reasons to use the Green dot are as follows:

  • Direct Deposit. While using a green dot card you can get your direct deposits way earlier than a traditional bank account.
  • Universally Accepted. Green dot cards can be used anywhere where a Visa debit is accepted. You can conveniently use your digital wallets feature.
  • Free Bank Transfers. Subject to other banks’ terms and conditions, green dot does not charge extra for your bank transfers from one bank to another.
  • Mobile Banking. The mobile banking option helps in checking the transaction history and reviewing account details while on the move.

2. Netspend

Netspend is a world-leading global payment company which is serving over 68 million customers and 130,000 retailers countrywide.

It was established in 1999 and has been providing unbanked customers with hassle-free cashless transaction options. Netspend gives its users peace of mind and puts them in control of their financial limits.

Following are the features Netspend offers to its users:

  • Direct Deposit. While using a Netspend card you can get your direct deposits two days earlier than a normal bank account.
  • Mobile Alerts. The mobile app feature helps you send and receive money anytime, moreover one can always use a mobile phone for getting transaction alerts.
  • Payback Rewards. Netspend allows its users to get cashback offers just by using their cards. It also has a feature of a savings account where you get interested by just keeping cash in the Netspend account.
  • Account Number. With fraud prevention restrictions you can safely use a virtual account number and routing number for online transactions.

3. Fee Structure Comparison

Although a selection of a card depends on its use and the kind of card being used. There are multiple options of cards being provided by both these companies.

A fair comparison of the basic fee structure would help you select the right card.

  1. Monthly Fee.  A monthly fee will be charged by both the prepaid cards depending upon the plan you are using. A monthly fee of $5 or $9.95 will be charged by Netspend depending upon the deposited amount while a $7.95 will be charged by green dot as a monthly fee and can be waived off on recharge of $1000.
  2. Pay as you go Plan. If you are not interested in a monthly fee plan you always opt for pay as you go plan where you will be charged for every transaction you make. However, this option is only available to Netspend users and $1.50 fees will be charged for every purchase.
  3. Purchase Fees. For Netspend users, there is no purchase fee however $1.95 will be charged for getting started with a green dot card.
  4. ATM withdrawal fees. A $2.50 will be charged for every time you use an ATM and for green dot users, this cost would be $3.00.
  5. Cash Reload Fees. Whenever you reload your card you will be charged cash reload fee which is $3.95 for NetSpend and $5.95 for a green dot.
  6. ATM Balance Inquiry Fees. Both the companies charge $0.50 for the ATM Balance inquiry fee.
  7. Card Inactivity Fees.  Netspend users will be charged $5.95 per month for the period of inactivity crossing 90 days. However green dot does charge any such fees. 

Transferring Funds Between Green Dot Account and Netspend Account

Transferring money between a Green Dot Card and a Netspend prepaid card can easily be done in person or with help of the internet.

You can always use the options of the bank to bank transfers with your card by using your account and routing number.

You can also link your cards with PayPal and transfer funds for free while using it as a third party. Another option for sending money is by using Western Union or MoneyGram but this option might charge you a fee.

Final Thought

Unlike a traditional debit card, these cards are not connected to any bank account.

Unbanked people or those who are bad at financial management are always advised to use a prepaid card, where you are spending money that you have already loaded or reloaded into the card. 

So the question remains, “Is green dot and NetSpend the same”. Although it depends upon the use, NetSpend and Green Dot have the same features and work in a similar manner.

Green Dot cards may be a cheaper option to use but NetSpend cards provide a better alternative to a traditional bank account.

Share
Tweet
Reddit
Pinterest
Email
Prev Article
Next Article

About The Author

Laurens Yarpei

I’m Lawrence Yarpei. I have been using Cash App for the past 4 years. In this blog, I help Cash App Users with their Problems and Offer Troubleshoot solutions on everything Cash App-related Problems. Disclaimer: The intention of using trademarks, images, logos, and brand name is for information and referral only and not intended to act as Cash App representatives. We do not provide any service and are not Cash App representatives. This is just an educational blog run by a long-time Cash App user and a lover of the app and its service. Contact Cash App here for your queries: https://cash.app/help

Leave a Reply Cancel Reply

Disclaimer: We do not Provide any Service and is not affiliated with Cash App. To contact Cash App, visit https://cash.app/contact. This Website is purely an educational Blog and don't intend to Infringe any Copyright. Brand names are used for informational and reference purposes only. We fully disclaim the authority of the Brand name and logos. Click the button to refer for usage of trademark for an editorial or informational use: www.nolo.com/legal-encyclopedia/when-you-need-permission-use-trademarks.html

REFER FOR LEGAL ISSUE

Related Post

  • Can You Use QuadPay on Cash App? 78+ Stores that Accept QuadPay
    Can You Use QuadPay on Cash App? …
  • Can You Use Cash App on PC? How to Cash App on Computer?
    Can You Use Cash App on PC? …
  • How to Switch to Dark Mode on Cash App? Easiest way to get Cash App Dark Mode
    How to Switch to Dark Mode on …

ReallyNeedCash – Beginner's Guide to Cash App & NetSpend

Copyright © 2022 ReallyNeedCash - Beginner's Guide to Cash App & NetSpend
Disclaimer: Some of the editorial content on this website is not provided by Square’s Cash and may not have been reviewed, approved, or otherwise endorsed by these entities. If an error or omission has been made, please feel free to contact us. The intention of using trademarks, images, logos, and brand name is for information and referral. The information provided on the website only for knowledge sharing, although we have done our research on every content provided on the website users must use their own concerns before using the information. Our website has no control over the third-party website’s policy, users must use their concern and will be solely responsible for the damage if happens.

Ad Blocker Detected

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.

Refresh