A:

You can choose from several options when you need to cancel or close your NetSpend card. NetSpend cards are prepaid debit cards. You can deposit money directly or you can use a reload location to fund your account. The card allows a debit, credit and ATM withdrawal feature. NetSpend also offers several other benefits, such as online account access and a payback rewards program.

Option 1: Withdraw From an ATM

The simplest way to cancel or close your NetSpend card is by withdrawing all your funds from an ATM. However, there is a domestic ATM cash withdrawal fee of $2.50. This does not include the ATM transaction fee, which can range from $1 to $5 on average. If you are using an international ATM, the withdrawal fee is $4.95 in addition to the ATM's own transaction fee.

One issue with closing your account this way is that ATMs generally only dispense in $20 denominations. This may cause issues when you are trying to completely close out your balance if you do not have this exact amount.

Option 2: Request a Check

The other way to close or cancel your NetSpend account is by requesting a check. NetSpend estimates that this process takes three or four weeks. There is also a fee of $5.95 to receive the check. If you would like to request a check for the balance of your account, call 866-930-9924 or log in to the online account center.

There are fees involved with closing your account by withdrawing from an ATM or requesting a check. For more information, contact NetSpend directly.

RELATED FAQS
  1. How do NetSpend cards work?

    Learn how NetSpend prepaid debit cards work and if they are right for you. Protect yourself and your finances by understanding ... Read Answer >>
  2. Will Netspend cards let you overdraw your account?

    Discover if NetSpend debit cards allow you to overdraw your account and learn how to enroll in NetSpend's overdraft protection ... Read Answer >>
  3. Does Netspend Accept Wire Transfers?

    Find out how Netspend cardholders can arrange for electronic transfers to add money to their Netspend prepaid debit cards ... Read Answer >>
  4. How ATM Fee Reimbursement Works (ALLY, EVER)

    Learn how ATM fee reimbursement works, identify some of the banks that offer it and understand the typical limitations that ... Read Answer >>
  5. How do I check the balance on my prepaid credit card?

    Check your prepaid credit card balance quickly using your phone or the Internet. Keeping track of your balance is easy and ... Read Answer >>
Related Articles
  1. Personal Finance

    Why You Should Stick With The Big Banks

    Big doesn't always mean bad. We tell you four reasons why.
  2. Investing

    Indians Use Crowdsourced Information to Find ATMs With Cash

    Indians are on a treasure hunt where the treasure is their own hard-earned money.
  3. Personal Finance

    Cut Your Bank Fees

    Find out how to get the bank to pay you for using their services, not the other way around.
  4. Tech

    5 ATM Scams That Can Break The Bank

    Here are five common ways ATM users get ripped off.
  5. Personal Finance

    The Ins And Outs Of Bank Fees

    These service charges could nickel and dime you right out of your nest egg.
  6. Personal Finance

    Are 'Free' Tax Refund Loans Really Free?

    While tax refund loans are now completely free, getting one can cost you in tax prep and other fees.
  7. Personal Finance

    Best (And Worst) Places to Change Money In Vegas

    Skip the booths at the airport and find an ATM when you want to exchange currency. Or try to use your credit card. Another good source: casinos!
  8. Managing Wealth

    How Foreign Transaction Fees Work

    Using a credit card when you travel can be costly. Here's what you need to know about foreign transaction fees – plus tips on making purchases abroad.
RELATED TERMS
  1. Automated Teller Machine - ATM

    An electronic banking outlet, which allows customers to complete ...
  2. Debit Card

    A debit is a payment card that deducts money directly from a ...
  3. Checking Account

    A checking account is a deposit account at a financial institution ...
  4. Bank Card

    Any card issued against a depositary account, such as an ATM ...
  5. Payroll Card

    A prepaid card onto which an employer loads an employee’s wages ...
  6. PIN Cashing

    A type of fraud in which a stolen credit card or debit card is ...
Hot Definitions
  1. Whole Life Insurance Policy

    A life insurance contract with level premiums that has both an insurance and an investment component. The insurance component ...
  2. Compound Annual Growth Rate - CAGR

    The Compound Annual Growth Rate (CAGR) is the mean annual growth rate of an investment over a specified period of time longer ...
  3. Capital Asset Pricing Model - CAPM

    A model that describes the relationship between risk and expected return and that is used in the pricing of risky securities. ...
  4. Internal Rate Of Return - IRR

    A metric used in capital budgeting measuring the profitability of potential investments.
  5. Current Ratio

    The current ratio is a liquidity ratio that measures a company's ability to pay short-term and long-term obligations.
  6. Return On Investment - ROI

    A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different ...
Trading Center