NetSpend Limits 5% APY To Just $1,000

NetSpend Savings Account were a good option to earn 5% back on you deposits. That rate was limited to up $5,000 but the interest rate is much higher than what you would get from the biggest banks.

NetSpend.png

Why the past tense? Because starting on July 1st, the 5% APY will be limited only to the first $1,000. Anything over that will earn only 0.50%. This will affect all NetSpend products.

It’s time to look at other high yield prepaid accounts such as Mango. This post from DoC is also a good place to research other options.

HT: reddit

5 responses to “NetSpend Limits 5% APY To Just $1,000”

  1. AJ Avatar
    AJ

    commonnnn. I just opened two accounts

    Reply
  2. anthonyjh21 Avatar
    anthonyjh21

    Sigh. Are we sure this goes for all of the Netspend flavors or is it just Netspend?

    I already have Mango and LMCU maxed out. I’m not sure it’s worth jumping through more hoops to get the 3-4.59% from the other CU available on the DoC page. 🙁

    I’ve considered Northpointe but their requirement of $500/month for debit transactions AND needing to be 15 total transactions was my sticking point. Consumers CU is probably the other option here. I’ll have to look into them a bit more now that Netspend cut it down to $1k.

    Reply
    1. dannydealguru Avatar
      dannydealguru

      Looks like it’s for all NS products. Forgot to mention that.

      from reddit.. “Log in > move money > savings > scroll down > savings terms and conditions. I saw this on all the 5 accounts I have (NS, Brinks, Ace, HEB, WU)”

      Reply
      1. anthonyjh21 Avatar
        anthonyjh21

        2016 Churn/MS/deal hacking: The gift that keeps on giving!

        Where’s that recession when you need one? Obviously kidding but you know the banks will loosen up when it happens.

        Reply
        1. dannydealguru Avatar
          dannydealguru

          haha

          Reply

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