Payday Loans to a Netspend Card

Payday Loans to a Netspend CardGetting your payday loan put on a Netspend Card seems like a great idea because the money would be available to use right on the card, and it would be a way to circumvent your bank account if that’s seen better days.

Netspend is one of the more popular prepaid card choices, and there are plenty of ways to load it up. That’s why it’s not so hard to get a payday loan and then put money onto the card, since it’s fast and relatively inexpensive. For a few dollars in charge fees you can put the cash onto the card so you’re not walking around with a lot of cash on you, and so you can do online bill payment, or pay off other things using the card like you would a regular Visa debit card.

It’s important to note that Netspend is not in the lending business, and you can’t get an advance onto it the same way you can get a cash advance through a credit card. Netspend makes their money by collecting monthly service fees, reload fees, and other fees associated with using the card. Another thing to consider is that you can load your tax refund onto your card, the same way that you can have it directly deposited to a bank account. This can help pay off payday loans and is one successful way to get out of the payday loan trap.

Any Payday Loans to a Netspend Card Out There

The closest thing we could find to a lender putting money onto a Netspend Card involves getting the loan in person from a local lender that also offers prepaid debit cards, like Advance America does. It’s an extra step but it’s pretty effective and allows you to avoid getting paid into your bank account. The reason a lot of people don’t want to get the money deposited into a bank account is either because they would just have to take it out anyway, or because the account is overdrawn and they don’t want to clear it up just yet, since more pressing matters might need attention.

Benefits of Prepaid Cards
A lot of places are offering prepaid debit cards these days, and it seems they’re only growing in popularity. As big banks continue to increase fees and dissuade people from using them they will likely only be used more and more. They offer the same sort of ease and flexibility as a checking account with a debit card linked to it does, but since they are not linked to a bank account you don’t get popped with an overdraft fee if you spend more than you have, it simply rejects the transaction at the point of sale.

Bank Account Needed
Lenders will need a bank account in order to get their money back plus the fee. They have a harder time getting it from something like a Netspend card because they can’t ACH it the same way that they can a checking account. So while it may be more convenient for you, it’s not very convenient for the lender, and represents an added risk to them. Perhaps one day they’ll be able to set it up so that you can simply get the money put on the card, and then have them charge the card on your payday, but it seems we’re not quite there yet.

MoneyGram as an Alternative
If you don’t mind an extra fee there are lenders that offer to send your loan to you via MoneyGram. You could receive your cash at a place like Wal-Mart and then immediately put it onto your Netspend card because MoneyGram agents are able to load Netspend cards.

Whatever your reason for wanting your payday loan put on a Netspend card, there are plenty of ways to go about it, even though we were unable to find a lender that will do it directly. You just have to be creative, and take one additional step, paying a small fee in the process. For the fastest way to get a payday loan put onto a Netspend card we recommend Advance America because they’ll give you the cash when you walk in, and they’re also an authorized reload spot.

Add Your Source for Payday Loans to a Netspend Card Below

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