|▪Netspend Referral Code||4238379702|
|💸 Netspend Referral Bonus||$40 Cash|
|☑ Netspend Bonus Requirement||Deposit $40|
|⏰ Expiration Date||12/31/2023|
Earn a Netspend prepaid card activation bonus of $40 cash when you enter Netspend referral promotion code 4238379702 at sign up, and deposit $40 into your new account.
The $40 referral bonus promotion is open to new Netspend Prepaid Debit Card holders. Open an account with this Netspend $40 promotional referral link.
- What is Netspend?
- How to Get $40 Netspend Referral Bonus
- What Qualifies as a Netspend Direct Deposit?
- How to Get Free Money on Netspend Card?
What is Netspend?
Netspend is a prepaid debit card suitable for individuals without a banking history or who may not have access to traditional banking services.
The card offers features like cash back rewards, early paydays, and a high-yield savings account. However, its array of fees makes it more advantageous for short-term use rather than as a long-term banking solution.
The Netspend Prepaid Debit Card has two main plan types:
- Pay-As-You-Go plan, which doesn't charge monthly fees but does have per-transaction fees
- Monthly plan, which charges $9.95 per month, reducible to $5 with a monthly direct deposit of at least $500 in 1 calendar month
In addition to these plan-based fees, there are fees for ATM usage, with both in-network and out-of-network withdrawals costing $2.95 each.
You should weigh the convenience and features of the Netspend card against the cost of its fees to determine if it's the best fit for your financial needs.
For purposes of this article, we are only opening a Netspend account for the $40 referral bonus promotion. I would not recommend using this card otherwise.
How to Get $40 Netspend Referral Bonus
The Netspend referral promotion normally gives you a $20 sign up bonus.
However, from September 30th thru December 31, 2023, Netspend has doubled that amount to $40. I received my bonus. Here’s how you can too.
Sign Up with Netspend Referral Code or Link
In order to qualify for the bonus, you'll need to enter a Netspend referral code or use a $40 promotional link to open a new Netspend Prepaid Debit account.
When using a referral link, it will automatically populate the Netspend referral code. In the event it doesn’t, then enter code 4238379702.
You won’t be able to earn the bonus without it.
Apply for a Prepaid Debit Card
There’s no credit check and no upfront fees to apply.
Simply fill out the necessary information such as name, address and date of birth. Then verify your ID with a state issued license, passport, or similar identification method.
Activate Your Card
You’ll receive your new Netspend Prepaid Debit Card in the mail within 7 – 10 business days. They will mail it to you free of charge.
Once you receive it, activate your card immediately.
Deposit $40 into Your Account
Load (deposit) a minimum of $40 into your account.
While there are many ways to transfer money into your new account, only cash reloads or a direct deposit will count towards the minimum load requirement.
There are fees associated with cash reloads. If you want to avoid paying fees, then complete a direct deposit instead. They are free and convenient to do.
I included more information further below on what qualifies as a Netspend direct deposit.
Receive $40 Account Sign Up Bonus
Once you’ve completed the above steps, wait up to 5 business days for your Netspend $40 referral credit to appear in your account.
Spend or Transfer Your Money
Now that you have your bonus money, I’m sure you’ll want to keep as much of it as possible!
If you’re on the Pay-As-You-Go plan like I am, then you’ll fork over $1.95 per transaction fee for items you purchase using your prepaid card.
That can add up rather quickly and eat into your $40 bonus!
Instead, I would recommend transferring your remaining Netspend balance to another bank card in one lump sum. That way, you’ll only pay one fee and keep more of your money.
This is exactly what I did with my Netspend referral bonus.
I transferred $38.05 to my SoFi bank account, where I don’t pay transaction fees to use my bank card. (Netspend charged a $1.95 fee for this type of transfer).
There you have it. You just earned your Netspend activation bonus!
You’ll also want to consider whether to keep your account open or close it.
You should know that Netspend will charge you a 90 day inactivity fee of $5.95 if the card goes unused for that long.
As mentioned earlier, this card is riddled with fees!
This decision is completely up to you. I keep my Netspend Prepaid Debit Card open mainly for the 5% high yield savings account and to earn referral bonus credits.
DCU offers a better high yield savings account, plus a referral sign up bonus. Read more in my DCU referral bonus guide.
What Qualifies as a Netspend Direct Deposit?
There are three types of direct deposits that will qualify for the cash deposit requirement for the Netspend referral bonus.
- Government Benefits
- Tax Refund
The government benefits direct deposit can be your Social Security check, Veterans Compensation and Pensions, Child Support / Alimony check and more.
If you prefer not to change your direct deposit to Netspend, then you can always do a cash reload if you’re ok paying the associated fee.
How to Get Free Money on Netspend Card?
Aside from earning your Netspend Prepaid card activation bonus, you’ll also be able to get free money by referring friends to Netspend.
Netspend will deposit a $40 referral bonus credit to your account for each qualified referral that completes bonus requirements.
The requirements are the same as outlined here for the Netspend Prepaid card activation bonus.
Once you open an account, you’ll have your unique Netspend referral code that you can use to refer friends and family.
The best part is there’s no limit to the amount of referral bonus credits you can earn. The potential to earn with the Netspend referral program is truly unlimited!
Ready to apply? Use this $40 Netspend promotional link to get started today.
You may also be interested in reading this next list of $25+ sign up bonus offers.