You can also gain cash back when you buy something, transfer money, or use an ATM. If you ended up getting more advance payments than what you can claim for the year, you might end up having to pay it back. You can claim the other half when you file your taxes next spring. The first thing you want to do is talk it out with your child and ask them about it. This money is sent to your current address. Same thing happened to me, but here's what's weird. Can You Use VANILLA Gift Cards On Cash App? Prepaid cards can help those unable to open a bank account, but beware of the fees. There seems to be a mistake. You can also report a problem with NetSpend and get refunded in special circumstances. The Netspend Prepaid Mastercard may be used everywhere Debit Mastercard is accepted. Your name will then be taken off the list of candidates to be prescreened, and eventually, you will not receive any junk mail debit card from NetSpend or any other prepaid debit card company. Also, if you haven't ever filed taxes before or don't think you have payment information on file with the IRS from the stimulus payments or another year's refund, you can also submit that information by visiting the Child Tax Credit portal. Title: Minor daughter (12) received NetSpend card in mail. Stay updated with smart tax tips to help you file your return, track your refund and get the most money back. You can also contact NetSpend directly through email, landline, or snail mail. An 18-year-old dependent can qualify for a $500 payment. The company sends people cards after they sign up online, or you can buy them from retail locations for a fee. If you make more than the modified adjusted gross income (MAGI) limits set by the IRS, however, that number gets reduced to $2,000 per child and then phases out $50 for every $1,000 you earn over the limit. If you're establishing or rebuilding credit, a secured credit card is a great option. Maybe you dont want to get any mail from NetSpend and would rather choose another prepaid debit card company or opt for the usual debit card. Unfortunately, NetSpend is not always a reliable service. Their system has been known to crash, and customers experience issues with withdrawing their money or making transactions as long as it stays down. And among all these, you still have to worry about being charged an inactivity fee if you havent used your card for 90 days. The earliest of the payments, which are set to begin on July 15, will be sent to eligible households either by direct deposit or paper check. You may be able to get an apartment without strong credit, but its still a good idea to improve your score. Instead of a pre-approved application, NetSpend has sent some people an unexpected Visa debit card.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'bestonreviews_com-banner-1','ezslot_9',129,'0','0'])};__ez_fad_position('div-gpt-ad-bestonreviews_com-banner-1-0'); To activate these cards, the company will mail them to your address. You have received a mail containing a NetSpend card you have no recollection of signing up for. Credit card checks offer quick access to cash but can cost more than you might expect. for more Netspend Card information!if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'bestonreviews_com-leader-4','ezslot_16',120,'0','0'])};__ez_fad_position('div-gpt-ad-bestonreviews_com-leader-4-0'); The US Treasury sends the NetSpend cards in a white envelope. Netspend charges a monthly rate of $9.95 or $1.50 per transaction. The IRS uses information from your 2019 or 2020 return to determine how many children you have and if they are of the right ages to qualify for the credit. The only way your refund could be on your Netspend card earlier than your refund deposit date, is if the IRS or State actually issues your refund out earlier than expected. Netspend is a registered agent of The Bancorp Bank, Pathward, N.A., and Republic Bank & Trust Company. Up to $9.95 to purchase a card at a retail location. When providing this information to the IRS, you should indicate that the account and routing number provided are for a checking account unless your financial institution indicates otherwise. Now, the FTC is sending PayPal payments to people who did not cash their checkandhave a valid emailaddress on file. The reason is the IRS does not have direct deposit information for you, and you are receiving a NetSpend card in the mail. Call from your office or a non-landline or smartphone, and provide your mailing name and address. Eligible parents received up to $300 per eligible child and will continue to receive monthly payments through December. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Netspend uses affiliate marketing to attract new consumers. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. The card serves as an alternative to traditional banking while providing many of the same services you may find at a local or online . Tired of getting a NetSpend card in your mailbox? It has successfully dealt with NetSpend issues in the past and managed to refund prepaid card users for the funds that the company had blocked. Casey Bond and Emily ShermanApril 5, 2023. These FAQs include answers to eligibility and other many common questions, including help to use two Economic Impact Payment tools. The deadline to add your banking details to get the August payment through direct deposit is Aug. 2 -- the same deadline tounenroll from the monthly checks. If you wish to deal with NetSpend personally or report an issue with your card, you have several options: As mentioned, whether youll get your refund depends heavily on why youre requesting it. Netspend is a prepaid debit card that also offers the perk of a bank savings account that pays a hefty 5% in interest. New Member. A Netspend prepaid card can serve as a bank account alternative for some consumers, including ones who had trouble managing bank accounts in the past, perhaps incurring many overdrafts, says Ted Rossman, senior industry analyst at Bankrate.com. However, if you go way over the amount and no longer qualify for part of the credit, you will make up the difference when you file. Calling NetSpend over the phone is perhaps the most efficient option to choose if you want to cancel your account on your own. Also, all transactions made through the card are covered by insurance through the Federal Deposit Insurance Corporation (FDIC). You might be waiting a few extra days for a paper check to arrive by mail. Consumers who are unable to open a bank account or get a second-chance bank account because of their banking history could turn to Netspend, which is a better option than some choices, but not the best one. It is the most frequently asked question in financial threads on Reddit. Please see back of your Card for its issuing bank. For media relations: mediarelations@netspend.com. Your junk mail may contain a crucial debit card in the shape of a stimulus check, so dont throw it away. Learn more about Netspend cards here. In addition, families who have had a change in circumstance that would mean a larger monthly payment still have time to update the IRS on their situation. The new debit card will contain the latest stimulus payments because none of the prior debit cards were reloadable. What is this credit? Consumers can choose from several images or logos on cards for another fee. Looking for legal documents or records? But do you know how the IRS will send your payment for up to $300 a month per child? For 2021, the benefit increased to $3,000 from $2,000 per child 17 and younger with an additional $600 for children under the age of 6. Card activation and identity verification required before you can use the Card Account. 2023 CNET, a Red Ventures company. Some 80% of households will be getting their monthly payments by direct deposit through the information they've already sent the IRS, according to the agency. Secondary coverage is common, but primary coverage can offer more protection. People should watch out for scams using email, phone calls or texts related to the payments. People perceive prepaid debit cards as junk mail or a hoax when they receive them as part of the federal stimulus program.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'bestonreviews_com-box-4','ezslot_3',128,'0','0'])};__ez_fad_position('div-gpt-ad-bestonreviews_com-box-4-0'); If youve recently gotten a NetSpend card in the mail, read this article to find out what its all about and why youre receiving them.Table of ContentsWhy Do I Keep Getting NetSpend Cards In The Mail?Why Did My Child Get a NetSpend Card in Mail?Is It Safe to Use Netspend Cards That I Receive in the Mail, or Are They Fake?How to Recognize a Legitimate Netspend Card?Who Sent the NetSpend Card?Which Government Benefits Can Be Deposited Directly Into My Netspend Card Account?FAQs. We're Here to Help. Got a confidential news tip? A NetSpend pre-paid card can be obtained without applying. Some also say that you receive your payments through prepaid debit cards because the IRS holds no information on your bank account. Keep in mind: The purpose of this advance payment is to get you part of that money now. Having NetSpend and any credit card companies frequently send you mail poses the possibility of identity theft. You dont have to write complicated letters or show up at the spot to plead for your money back. The FTC sued NetSpend, and the company agreed to settle. on this page is accurate as of the posting date; however, some of our partner offers may have expired. Their Customer Service web page shows that you can contact them through landline, email, and postal mail. NetSpend is a prepaid card associated with the payment processors Visa and Mastercard and can be used wherever Visa debit cards and Debit Mastercard are accepted. This expansion of the credit will reach more than 65 million children, or nearly 90% of kids in the U.S., according to the IRS. The Netspend prepaid card is a reloadable prepaid debit card. Which Government Benefits Can Be Deposited Directly Into My Netspend Card Account? Half of your child cash benefit will go out this year through monthly payments, starting July 15 through the middle of December. The IRS uses your past years' returns to calculate what you may earn this year. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Not at this time. Author: /u/punchyouinthewiener. All rights reserved. If not, sending an email to customerservice@netspend.com is advisable. If you need to update your account information with the IRS, you can do so in the Child Tax Credit Update Portal. Our customer service representatives are happy to answer any questions you may have about your Netspend Prepaid Card. Another possibility is that the IRS sends you prepaid debit cards as recipients of stimulus funds. Once you buy the NetSpend card, you cant get a refund on it. If automated calls are giving you headaches, read this FTC guide to blocking robocalls. Subject to card activation and ID verification.*. For example, the lawsuit challenges as misleading NetSpend's representation that consumers are "guaranteed approval" for a card. But these transactions all come with fees. At this time, taxpayers cannot make a selection to receive a debit card. Netspend offers consumers a prepaid Visa or Mastercard account as a checking account alternative. Maybe. The company does not charge overdraft fees and allows consumers to open a savings account that pays 5% on balances of less than $1,000. Keep in mind that you may wait a long time to reach an agent from NetSpend. The contact detail can be seen on their customer support website. The FTC provides answers to common questions about refund payments onour FAQ page. If you usually claim the child tax credit each year when filing your taxes, you may be pleased to know about the advance child tax credit. All You Need to Know Before Joining, The Easiest Way to Claim a Motability Insurance Refund, Requesting Lumo Refunds Has Never Been Easier, A Beginner's Guide to Claiming a Lumo Refund, How to Pay Your Houston Water Bills Online Hassle-Free, How to Remove My Case From The Internet Instantly, How to Recover Your Forgotten Workday Password Hassle-Free, Sending Money to an Inmate Has Never Been Easier. NetSpend is a Texas-based company that offers prepaid debit cards as an alternative to the traditional checking account credit or debit cards. You will be able to cancel it once you have withdrawn all of your funds. How to Recognize a Legitimate Netspend Card? Best Parent Student Loans: Parent PLUS and Private. Inside was a NetSpend MasterCard with her name on it with instructions to activate it. Your request is immediately faxed to your bank, and we can write up a letter including your VISA or MasterCard codes to help you receive your refund. and have not been previously reviewed, approved or endorsed by any other When she's not writing, she enjoys playing in golf scrambles, practicing yoga and spending time on the lake. Payback Rewards. The IRS urges taxpayers to be on the lookout for scams related to the Economic Impact Payments. Please go to EIPcard.com for more information. He spent a handful of years at Peachpit Press, editing books on everything from the first iPhone to Python. See our related article on How to Send Money from Netwpend to Chime. Without any credit checks or upfront fees, people unable to qualify for a checking account might benefit from a Netspend account, but the fees vary and can add up quickly each month, says Leslie Tayne, a Melville, New York, attorney specializing in debt relief. As the situation surrounding COVID-19 continues to evolve, we are committed to being responsive to your needs. Unlike the previous option, requesting a check may take time (3 4 weeks) before you get your cash in hand. The .gov means its official. Though they can vary, the fees generally include the following: "Netspend represents a potentially costly alternative to the banking system," Rossman says. Can I specifically ask the IRS to send the Economic Impact Payment to me as a debit card? The system can crash, and you can be blocked from using the card and lose your funds as a result. Cashapp NOT Working Reasons & Troubleshooting, Social Security Disability Insurance (SSDI), Veterans Administration Compensation and Pension, State unemployment benefits (varies by state), Defense Finance and Accounting Service Payments (DFAS). To help you, NetSpend may ask for your physical and mailing addresses. All rights reserved. The prepaid debit card is issued by MetaBank and has the Visa logo on the front. An occasional Visa debit card will be sent by NetSpend if needed. Is It Safe to Use Netspend Cards That I Receive in the Mail, or Are They Fake? It has successfully. Here's what we do -- and don't -- know about child tax credit debit cards. Search the Legal Library instead. Also, the name on the direct deposit must match the name on the card account in order for the direct deposit to be processed. Archived post. The expanded child tax credit was established in March in the American Rescue Plan. NetSpend promised to scrub Jill's name, her son's name, and their address from their system. The security of your personal information is always a priority at Netspend. For more information, here's how to opt outof the monthly child tax credit payments. NetSpend cards are prepaid debit cards. Is Netspend Card Legit? Read More: Can I Purchase a Netspend Card at Walmart? 1 Best answer. Minors should not be targeted, although their information is occasionally gathered. "Depending on how many checks a consumer cashes each month, choosing a Netspend account could be more cost-effective and allow individuals to shop online, use ATMs and send money to friends," she says. Read More: Netspend Customer Service Address. Since NetSpend doesn't have a clearly defined refund policy, there is no set time to determine when you'll get a NetSpend refund. Regularly check your NetSpend online account Center to confirm all transactions are valid. Netspend cards are excellent for people with bad credit card history who enjoy purchasing online. Those who receive their Economic Impact Payment by prepaid debit card can do the following without any fees. Sarah Tew/CNET. Heres what you need to know for 2022! The Federal Trade Commission (FTC) is an independent agency that protects consumer rights and helps you file complaints regarding legal issues. 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