When you do not have a checking account, life seems just a little bit harder. Some places simply don’t take cash anymore. As crazy as it seems, it is hard to rent a hotel room without a credit or debit card. Renting a vehicle is out of the question and even some restaurants are not accepting cash as a form of payment anymore. That’s why for folks like us that are living paycheck to paycheck, having a reliable banking option is very important. If you are struggling to find the proper banking option because you have been turned down time and time again, a prepaid debit card may just be the answer for you.
If you are not able to open a checking account because of past mistakes, I highly recommend opening a NetSpend® account. You can have your paychecks sent by Direct Deposit to your NetSpend® Card. Your funds usually arrive 1-2 business days faster than your paper check. No more waiting in line at Walmart or the Payday Express. Also, if you deposit at least $500.00 per month, you do not have to pay any per transaction fees, only a one time $5.00 fee for the month.
Here is more about how the card works:
Here is information about reload locations:
There are no credit checks and no minimum balances. You can also earn Payback Rewards when using your NetSpend® Card at participating locations.
Also, when you sign up using this link:
you get a $20.00 sign on bonus after you deposit your first $40.00. If you are asked to enter a referral code, use 7301095818.
Five Reasons to use the NetSpend® Prepaid Debit Card
- NO CREDIT CHECK – There are many people who are unable to open a checking account because they’re listed in ChexSystems or TeleCheck, the NetSpend® prepaid debit card does not require a credit check to sign up. Now people who have poor/no credit can still have the benefits of a personal checking or savings account, even if they can’t pass the credit requirements of banks.
- BETTER BUDGETING – If you struggle with budgeting, a NetSpend® Card may be your answer. You can sign up for multiple cards and assign each card a certain category. Also, if you have say a teenager in your household that is allowed a weekly allowance, you can load the funds on to a card for them so that they can learn how to track their spending.
- AVOID OVERDRAFT FEES-Because prepaid cards are loaded with a specific amount, you cannot spend more than what is loaded on to the account. Many bank cards will allow you to continue spending even when your bank account is at zero causing you to have to pay back all those overdraft fees.
- SHOP AND PAY BILLS ONLINE – Without a checking account the modern convenience of paying your bills online does not exist. With the NetSpend® card, you will be able to pay all of your bills online and shop online as well.
- SECURITY – Debit cards are tied directly to the bank where your accounts are held. Prepaid cards are not, which adds an extra barrier of defense against identity theft.
Until the next paycheck, let me know if you have any suggestions or comments below. I would love to hear your feedback.