Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Netspend Savings account review

Earn up to 5% APY — but there’s only one way to access your money.

The Netspend Savings account is an optional savings account available to Netspend Card account users. It boasts an impressive 5% APY and no minimum balance requirements. But there’s only one way to access your money — through the Netspend Card account.

2.0 ★★★★★ (4 reviews) Write a review

Up to 5.00%





Minimum deposit to open


Annual percentage yield (APY)5.00% on balances of $0 to $1,000
0.50% on balances of $1,000.01+
Minimum deposit to open$0
Minimum balance to earn interest$0
Interest compoundingDaily
Monthly transaction limit6

Review by

Cassidy Horton is a writer for Finder, specializing in banking and kids’ debit cards. She’s been featured on Legal Zoom, MSN, and Consolidated Credit and has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. When not writing, you can find her exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

The Netspend Savings account is a solid choice for anyone who wants a prepaid card and a high-yield savings account to boot. The APY is 55x higher than the national average, and you’re not required to keep a minimum balance.

But you only receive the 5% APY on balances up to $1,000. You’re also only eligible for the account if you have a Netspend Card account with at least $500 in qualifying monthly direct deposits. If you don’t want or need a prepaid card, keep looking.

What are the benefits of a savings account with Netspend?

The Netspend Savings account has FDIC-insured deposits, mobile banking and a host of other benefits, including:

  • High APY. Earn 5% APY on balances up to $1,000.
  • No minimum balance. Netspend doesn’t have any minimum opening deposits or balance requirements.
  • Autosave. Automatically transfer up to 25% of your available card balance each time you reload your prepaid card or receive a direct deposit.
  • Money management tools. Create a budget, check your account balance, manage alert preferences and more through the online account center.

What should I look out for?

If you’re thinking of opening a Netspend Savings account, watch out for these drawbacks:

  • Not available to Vermont residents. If you live in Vermont, you don’t qualify for the Netspend Card account and therefore can’t open the optional savings account.
  • Cap on APY. Earn 5% APY on the first $1,000 in your account and 0.5% on money that exceeds this limit. Although 0.5% is higher than the national average, it’s much lower than other high-yield savings accounts.
  • Prepaid card fees. The account has no fees, but the mandatory Netspend Card account carries a fee of up to $9.95 per month, which can cancel out any interest you earn on your Netspend Savings account.
  • One way to access funds. The account doesn’t support direct deposits or check deposits. But you can work around this by depositing funds into your Netspend Card account and transferring the money to your savings account.

If you’re not interested in getting a prepaid card, the Netspend Savings account may not be for you. As always, compare your options when considering a savings account.

Compare with other savings accounts

Explore other savings accounts with competitive interest rates and fees.

Name Product Annual Percentage Yield (APY) Fee Minimum deposit to open Interest compounding Offer
Aspiration Spend & Save Account
Finder Rating: 4.2 / 5: ★★★★★
Aspiration Spend & Save Account
Up to 5.00%
$0 per month or $7.99 per month for Aspiration Plus ($5.99 per month if you pay annually)
Deposits are fossil fuel-free. A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC.
CIT Savings Connect
Finder Rating: 5 / 5: ★★★★★
CIT Savings Connect
Earn an impressive APY on your entire balance. This straightforward online savings account has no monthly service or account opening fees.
Bread Savings™ High-Yield Savings
Finder Rating: 4.3 / 5: ★★★★★
Bread Savings™ High-Yield Savings
Earn competitive interest rates with this high-yield savings account you can open in just minutes. Member FDIC.
Axiom Bank high-yield savings account
Axiom Bank high-yield savings account
UFB Rewards Savings
Finder Rating: 5 / 5: ★★★★★
UFB Rewards Savings
Earn a 2.61% APY with no minimum deposit or balance amount with this no-monthly-fee savings account.
Quontic Bank High Yield Savings
Finder Rating: 4.6 / 5: ★★★★★
Quontic Bank High Yield Savings
Interest is compounded daily. No monthly service fees. Competitive rates

Compare up to 4 providers

How do I open an account?

Once you activate your Netspend Card account, open your savings account using these steps:

  1. Visit Netspend’s online account center and complete the savings account enrollment form.
  2. Consent to receiving electronic communications from Netspend.
  3. Verify your identity using your Social Security number, if needed.
  4. Make your initial deposit by transferring money from your Netspend Card account.


You’re eligible for a Netspend Savings account if you meet these requirements:

  • At least 18 years old
  • Valid Social Security number
  • US residential address
  • Active Netspend Card account
  • Receive at least $500 a month in direct deposits to your Netspend Card account
  • Consent to receiving electronic communications from Netspend

Required information

Be ready to enter the following information when you open your account:

  • Full name
  • Address
  • Date of birth
  • Government-issued ID number
  • Social Security number

How do I deposit or withdraw my money?

The Netspend Savings account is designed for Netspend Card account users, so there’s only one way to access funds:


  • Transfer from your Netspend Card account to your Netspend Savings account.


  • Transfer to your Netspend Card account to your Netspend Savings account.

How to contact Netspend about my savings account?

There are three ways to get in touch with Netspend:

  1. Email:
  2. Phone: 866-387-7363 weekdays from 8 a.m. to 10 p.m. CT and weekends from 8 a.m. to 8 p.m. CT.
  3. Mail:
    Netspend Corporation
    PO Box 2136
    Austin, TX 78768-2136

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site