Netspend® Small Business Prepaid Mastercard

In-Depth Review: Netspend® Small Business Prepaid Mastercard

The Netspend® Small Business Prepaid Mastercard is a debit card account designed to provide essential security protections and financial management tools for companies that don’t want a business credit card.

How to Get the Netspend Business Card

Here’s how to get the Netspend Business Card account:

• Click the ‘Visit Card Site” button on this page
• Sign up with Netspend using your personal information (you’ll need your name, address, and email address to get started)
• Choose your account and set it up. You can also fund your account
• Your new card should arrive within 7 to 10 business days

Financial Tools for Your Business Needs

The Netspend® Small Business Prepaid Mastercard is a versatile prepaid card designed to give companies better control of their finances. The card helps small companies separate personal and business expenses through a dedicated account. That might sound like nothing special, but for smaller companies, or those with multiple employees, that can quickly become a challenge.

You can also swipe customer credit and debit cards thanks to Netspend’s partnership with ProPay®. This feature allows you to swipe credit, debit, and prepaid cards using a small mobile phone accessory.

With Netspend® Small Business Prepaid Mastercard and ProPay® accounts, companies can also accept payments through their website. Merely add a dedicated “Buy It Now” button to your site and let ProPay® directly deposit all funds straight into your prepaid account.

Employee Subaccounts

One of the great features of Netspend is the ability to add employee subaccounts to your card account. Netspend lets businesses leverage the functionality of the Netspend Small Business Prepaid Mastercard by creating a subaccount for your employees. These accounts allow your workers to receive their own cards with a preset amount of funds they control. Moreover, you can customize the subaccount by setting specific usage limits, such as where the card can be used, and even opt to receive transaction notifications via text messages.

Whether you have a single employee or a team working part-time or full-time, there will likely come a time when they need to make purchases such as supplies, fuel, or food for your small business. While you could opt for the traditional method of asking them to front the cost and reimburse them, this approach isn’t the most equitable for your employees. Similarly, providing cash, a check, or your personal card poses trust and security concerns.

Subaccounts are charged a fee of $1.95 per month for each employee subaccount.

Mastercard Business Debit Features

Netspend issues the Netspend® Small Business Prepaid Mastercard in partnership with

Other Card Features

The card also benefits from the Netspend Reload Network of ATMs and customer service locations. The Netspend Reload Network is a network of more than 130,000+ ATMs, pharmacies, drug stores, supermarkets, and other locations designed to ensure Netspend customers are never looking for a convenient way to pay – or get paid.

Keep in mind that fees are associated with using ATMs and certain transactions. Foreign transactions incur a 3.5% fee, for example, $4.95 per withdrawal at international ATMs and $2.50 per withdrawal domestically.  

Cardholders can also enjoy rebates from Mastercard® for everyday purchases through the Mastercard Easy Savings® program. When making a qualified purchase at participating merchants, businesses can earn automatic rebates to the account, meaning using the card for gas, dining, office supplies, or other relevant purchases can offer real savings

Other features of the prepaid business card account include:

• Have your company name printed on your Netspend® Small Business Prepaid Mastercard
• No minimum balance requirements

Fees

No minimum balance or credit check is required with the Netspend® Small Business Prepaid Card, nor are there any activation fees. There is, however, a $9.95 monthly master account fee and a $1.95 monthly fee for each sub-account.

Here are all the important fees and charges with the Netspend® Small Business Prepaid Mastercard:

Netspend Ratings

How does the Netspend stack up? Here are a selection of expert reviews for the card and company:

Should You Apply for the Netspend® Small Business Prepaid Mastercard?

Prepaid business cards might sound like a strange option but they make sense for some companies. If your brand is small, is new and doesn’t yet have business credit, or if you just want a no-hassle way to pay (and get paid), the card provides a streamlined, simple-to-use platform that can ensure you get the services you need without the hassle. Still, at $9.95 per month, there are likely better options available – even if just opening a checking account with your local bank or credit union.