Your Netspend prepaid debit card works on the principle that you can spend as much as you have put into the card. Although there is provision for a purchase cushion, the facility of availing a loan through your Netspend prepaid debit card has been discontinued. However, you may deposit a loan from any lender into your Netspend prepaid debit card by money transfer, Paypal and bank transfer.
Before October 2010, loans processed by iAdvance would be credited directly to a Netspend prepaid debit card. Since then, this has been discontinued. Netspend does allow several payment options to put money into your card. So if you are taking out a loan from another lender, when you receive money from your loan lender, it is best to check if their policy allows a transfer to your Netspend account. Do remember to check the maximum limit permitted on your card before you authorize any transfers. The easiest way to transfer money into a Netspend prepaid debit card is to cash the lender’s check and deposit it into your card at a Netspend authorized distributor who will load the card. This loading is a paid service which costs a nominal amount of money. Some lenders who are willing to pay through money transfer services will be able to wire money into your Netspend card. Since your card is designed to accept cash through transfers, you should be able to receive a loan amount into the card. Banks who offer unsecured personal loans should also be able to transfer to a Netspend prepaid debit card. Netspend also allows for your paycheck and payday loans to be transferred directly onto the card.
For more information on Netspend, here is a link to their frequently asked questions:
www.netspend.com/account/faq.m#q05
Before October 2010, loans processed by iAdvance would be credited directly to a Netspend prepaid debit card. Since then, this has been discontinued. Netspend does allow several payment options to put money into your card. So if you are taking out a loan from another lender, when you receive money from your loan lender, it is best to check if their policy allows a transfer to your Netspend account. Do remember to check the maximum limit permitted on your card before you authorize any transfers. The easiest way to transfer money into a Netspend prepaid debit card is to cash the lender’s check and deposit it into your card at a Netspend authorized distributor who will load the card. This loading is a paid service which costs a nominal amount of money. Some lenders who are willing to pay through money transfer services will be able to wire money into your Netspend card. Since your card is designed to accept cash through transfers, you should be able to receive a loan amount into the card. Banks who offer unsecured personal loans should also be able to transfer to a Netspend prepaid debit card. Netspend also allows for your paycheck and payday loans to be transferred directly onto the card.
For more information on Netspend, here is a link to their frequently asked questions:
www.netspend.com/account/faq.m#q05
