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

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5 thoughts on “NetSpend Limits 5% APY To Just $1,000

  1. 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.

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