Netspend is actually an American payment company that issues Visa and Mastercard debit cards that you are able to use for several transactions. You are able to make use of this card within and outside the United States of America in areas that accept Visa and MasterCard.
Are you a Netspend User and do not know how to transfer money from Netspend to PayPal? then this is the right article for you as I will show you the various ways via which you can easily transfer money from Netspend to PayPal safely.
As for PayPal, this is an amazing money transfer service that lets you withdraw money from your Netspend account and you are able to transfer money from Netspend to a bank account by making use of PayPal as mediator.
Most of individuals today knows PayPal as the company has been in existence since the late 1990s and has undergone many changes to suits to the needs of its customers. Among its options is the possibility of receiving money from other banks and virtual wallets.
On of the accounts that work easily with PayPal is that of Netspend. All you have to do is to link both accounts to start enjoying all the benefits they have to offer to their various customers.
Netspend is actually one of the greatest prepaid debit cards on the market as they market themselves as a viable alternative to standard payment methods like bank account debit cards, credit cards and cash.
Well, it is of no doubt that Netspend provides its customers with a great way to use their money but you will want to manage your money in a more flexible way and safely use it for your online purchases. PayPal is the best solution to easily manage your money.
The good news is that there is a way through which you can directly transfer your money from Netspend to your PayPal account without any additional costs and all you need to do is to link your Netspend account to PayPal and then send the money to your PayPal account.
Table of Contents
What is PayPal ?
PayPal is well known online payment company that operates globally with its headquarters being located in Jose, CA, in the USA. PayPal was founded in the year 1998 by Ken Howery, Luke Nosek, Max Levchin, Peter Thiel, Yu Pan, and Elon Musk. So this means that the company has been operating for more than 20 years and several advancements have been made.
Today, PayPal is operational in more than 200 countries globally and works with hundreds of banks in the world. It has been observed that most of PayPal users are freelancers who receive their payments via their PayPal accounts and then withdraw them in their banks.
How Do I open a PayPal Account ?
Note the process of opening a PayPal account is purely online and you can open a personal or business account without much hassle. More to that, creating a PayPal account is free. To open a personal account, you must first provide a mobile phone number. To proceed with the business account, you must have an email address. You can then proceed according to the instructions of either account.
You can learn more on how to setup a PayPal account from this article.
What is Netspend?
Netspend is a company based in Austin with more than 70,000 distribution centers and 130,000 charging points where consumers are able to purchase their Netspend card or recharge them for use.
You will find most of these point located in the brand’s retail partners, convenience stores, pharmacies, insurance companies, grocery stores, and tax offices. Your prepaid cards operate under the Visa or MasterCard brand, which is received at different merchants
How Does Netspend Works?
Prepaid cards from Netspend are issued by Visa and Mastercard.
The Netspend companies operate with both state and federally regulated financial institutions to issue cards, which are later on guaranteed by the Federal Deposit Insurance Corporation - known as FDIC.
Consumers are able to take advantage of the card's features, which include person-to-person bank transfers, direct deposit of checks (regardless of the origin - which is either from an employer or the government), SMS alerts, a rewards program, budgeting tools and a tiered-rate savings account.
Can I Send Money from Netspend from PayPal?
Many Netspend and PayPal users often seek to know if this is really possible, well Yes! you are able to transfer money from Netspend to PayPal and vice versa but the first thing you will need to do, is to link your PayPal and Netspend account together and then verify the link by simply making a microtransaction of less than $2 - depending on your local currency.
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How to Transfer Money from Netspend to PayPal
Netspend just as PayPal, it is one of the the most widely used online money transfer platforms and the Netspend prepaid card is one of the most popular reloadable cards available.
Transferring money from Netspend to PayPal demands a step-by-step procedure and below, I will show you exactly what it takes to transfer money from Netspend to PayPal:
Step 1: Link your Netspend Account to PayPal
It is obvious that before you begin transferring money from one account to the other, you must first of all link your Netspend and PayPal accounts together which can be done as seen below:
- Login to your PayPal Account
- Tap on "Wallet"
- Select the Link a Bank account and then wait for the prompt
- Next, you will have to provide the routing number and account number of your Netspend account in order to facilitate the transaction
- In order to proceed, tap on the "Continue" button
- Review the information once again to see that everything is correct before clicking on Add Bank Account.
Step 2: Make a Micro transaction to Verify the Link
Once you have successfully linked your Netspend and your PayPal together, it is necessary that you verify their connection by sending microtransactions back and forth usually $1 or even less. Below are the steps to help you do that:
- Log into your PayPal account
- Click on the Wallet icon and then select transfer money
- Select the add money online option
- On the next page, you will have to select your Netspend account as the source of your funds and then transfer $1 or less.
- You will see your funds reflect in your account within 3 days therefore indicating a successful transaction
Step 3: Send Money from your Netspend account to your PayPal Account
Once you have verified the the link by carrying out the above transaction, you can now transfer the amount of money that you want to transfer from Netspend to PayPal by following the below procedure.
- Login to your PayPal account
- Select the wallet icon and then transfer money
- From here, select the Add money online option
- On the next page, you will have to select your Netspend account as the source of your funds and then enter the desired amount that you want to transfer
- It should 3 days for the money to be transferred successfully.
How to transfer money from PayPal to Netspend
The reverse of the above transaction is also possible- sending money from PayPal to Netspend card but as first of all, you will have to link the two financial platforms. In order to link your PayPal and Netspend account, you can follow the steps above.
Below are the steps involved in transferring money from PayPal to your Netspend card:
- Login to your PayPal account and then select the "Transfer to bank" from "withdraw" option found on your dashboard
- Enter the amount of money that you desire to transfer from your PayPal account to Netspend
- From here, you have to click on the "To" option and select Netspend from the list that shows up
- To proceed with the next step, simply tap on continue
- Once you are done, you can review the information to make sure it is correct before clicking on submit and then waiting for 4 business days to see the money reflect in your Netspend account.
Can I Save with Netspend ?
With Netspend, just like most of the other financial institutions, you are able to save money for future purposes, meaning that the card account is not only meant to hold current expenditure money. When you deposit money into your account, you can set up an automatic transfer of a certain amount to your savings account.
Money in your savings account is available to you at any time. However, keeping it in a savings account for an extended period of time can earn you interest. Netspend will pay you 5% interest on your savings.
How Long Does it Takes to Transfer Money from Netspend to PayPal
Money transaction from Netspend to PayPal do not take place instantly as it generally takes 3 to 4 bussiness days for the money transferred from Netspend to reflect in your PayPal account. Also have in mind that transferring money during weekends might take longer than expected.
Can I Use Netspend Card at an ATM Point?
You can use the Netspend card to withdraw money or check your balance at an ATM. Several ATMs accept Netspend cards for free withdrawals. I can also withdraw money from my Netspend card at Surcharge ATMs for free.
However, if you use an out-of-network ATM, you will be charged fees. The ability to withdraw cash from an ATM makes the card extremely convenient, especially if you live in a city.
Final Thoughts on How to Transfer Money from Netspend to PayPal
Transferring funds from Netspend to PayPal necessitates linking the two accounts. You can enter the Netspend card information into PayPal. That means you'll be funding your PayPal transactions with your Netspend card.
You can also set up a direct deposit from the Netspend card to the PayPal Cash Card, allowing you to deposit funds electronically into your PayPal Cash Plus account.
Frequently Asked Questions
Can I transfer from Netspend to PayPal?
Prepaid Netspend accounts work with PayPal by linking both accounts together. Netspend users can reload their accounts either online or at more than 100,000 Netspend Reload Network locations nationwide. PayPal does not charge NetSpend customers fees.
Can I transfer money from a NetSpend card to another card?
To transfer money from one NetSpend card to another, you need the other person's name and their FlashPay ID. Simply log into your Online Account Center, then enter their name, FlashPay ID, and the amount you want to send. You can find out more here.
How do I transfer money out of Netspend?
Simply log into your Online Account Center, enter their name, FlashPay ID, and the amount you want to send, and that's it! To receive money, your friends and family just need your name and FlashPay ID, which you can find in your Online Account Center.