Hi! I’m Kyle, the Penny Hoarder.

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Free $20 Cash for Signing Up at NetSpend

by - February 6, 2012 - 34 Comments

Here’s another easy way for Penny Hoarders to receive $20.00 for FREE!

I’ve already tested this out myself, so I can attest to the fact that it does work. Here’s how to do it:

1.) Click HERE and ”Open a NetSpend account” for FREE.

2.) You will receive your NetSpend “Visa” Debit card within 10 business days. Mine made it here in 4 days.

3.) Once you receive the card, simply log into NetSpend and activate it.

4.) In order to get the FREE $20, you’ll need to load the card with a minimum of $40.00 using PayPal, a bank account or one of the other many options.

5.) Once you load the $40.00, NetSpend will add $20.00 to your available balance on the card. I confirmed this myself with my own card.

6.) Go to the ATM and withdraw the $60.00 total from your card or spend the funds at your local store, online, or wherever you can use a credit card.

This is super easy folks! I signed up on January 12th, received my card on January 17th, transferred $40 to my card from my PayPal account on the 18th, the bonus hit my account on the 19th, and I successfully withdrew the entire $60 on the 20th.

(*At the moment this is ONLY for United States residents)

Good luck Penny Hoarders!


  • ashley

    I signed up for this… but was curious how you were able to withdraw the whole $60 from the ATM? Doesn’t netspend charge you to withdraw from an ATM? It offered a tip to ask for money back at a store and use the debit option- but wouldnt you have to choose to get back $2 less than your balance because of the $2 debit charge (with a free account card)??? Wondering what you did and if it cost you?

    • The Penny Hoarder

      Yes, if you withdraw the money via ATM or cash back, you’ll be hit with the $2.00 fee for a PIN transaction or a $2.50 ATM Fee (would only be $17.50 – $18.00 bonus in this case). But, you can avoid the fee by using their Free bill pay service….You might also be able to ACH it for free back to your bank, but I’ll have to check that out. I have an upgraded account, so I was able to avoid the fee (I don’t recommend that in less you plan on using the card regularly).

      Hope that helps.


  • http://bankbonuses.info Andy Hough

    I just signed up through your link. It looks like it will effectively be an $18 bonus. That is still a good return for what looks to be minimal effort to get the bonus.

  • http://www.InstantWinnerz.com Alan Craker

    Ill do it!

  • http://www.moneycone.com MoneyCone

    Good easy way to earn some good cash! Thanks for the tip!

  • Anna

    Thanks for the info! FYI, I had trouble getting this to work in Chrome (it kept telling me I needed to enter the date but there was no place to enter it) but then tried using Internet Explorer and got through with no trouble. :)

  • Brian

    Did anyone else notice in the NetSpend terms and conditions that there is a $5.95 Account Maintenance Fee which applies if the card has no activity for 90 days. I assume they cannot charge you if the balance is zero. But if you withdraw the $60 and let the account sit idle for 90 days with no activity…who knows. Banks pretty much charge for everything these days, so buyer beware. I recommend getting the $60 less ATM fee and then cancel the account using the “Close Your Account” link on the website.

    • The Penny Hoarder

      Agreed. Take the money and run. :)

  • Julie

    Hi, just a question, did you have to give you SS# in order to activate the card? I am trying to do it and its telling, me “government ID required.” I’m thinking its because I didnt put my SS#. any help would be apreciated, thanks.

    • The Penny Hoarder

      Hmmm..I’m trying to remember Julie…. I must have given my SSN when I registered, because it didn’t ask me when I activated it. Maybe someone who has done it more recently could weigh in…

      • Julie

        Gotta say thats making me a bit nervous, why do you have to give your SS# for?

        • The Penny Hoarder

          Yeah – I wouldn’t do anything that makes you nervous. That being said, it’s pretty common on these bank bonuses for them to ask for a SSN. They want to make sure folks don’t scam them for multiple bonuses (I think the Patriot Act might have something to do with it too).


          • Teresa Davis

            they ask for ss# because it is reported to the irs as interest

  • Julie

    thanks, turns out I didnt qualify for it anyway, they sent an email saying I had used them before or something ( I don’t remember) but oh well. Still really love your site, keep posting the great deals!

  • Brian

    @Teresa…correct…anything over $10 in interest generates a 1099-INT.
    @All….Just fyi…i think the best possible return on $40 is an additional $19. If you utilize an ATM to get your money back, you will get charged an immediate fee of $2.50 by Netspend + any fee charged by the ATM owner (approx $2.50 these days). So this could turn out to be a total of $5 in fees. Not to mentioned any issues (AKA fees) if you cause the balance on the prepaid to go negative…which is allowed per the terms and conditions. Rather…go to your local grocery store that allows cash back from debit card transactions. Assuming you funded $40 + a $20 bonus, you have $60 you want back from the card. Charge something small and then request the rest of the balance back up to a total of $59….leaving $1 on the card to cover the signature purchase transaction fee. You are then back to $0 and can close the card.

  • linny

    tried this. just got the card and there was no mention of the $20 bonus. also i didnt think my name would be embossed on the card. now im worried about id theft. i havent loaded the card as they did not give locations where you can load it with cash. i definitely will NOT tie this into my bank account.is the $20 bonus stll good? im going onto their website to try and find out if not ill cancel this just to keep my name oue id theft hands.

  • James

    I also just tried this, and got my card in the mail a few days ago. Is this $20 still in effect? I didn’t see any kind of mention of the $20 in the paperwork, and I clicked through the link on your website. What’s going on?=

    • The Penny Hoarder

      Yep! I didn’t have a mention on my paperwork either. As long as you used the link in the article, you’ll get the $20.

  • teresa

    Thanks so much. I got my $20 added on. Cool dude!!!!

    • The Penny Hoarder

      Nice! :)

  • Sophiasmith

    I really enjoy havein my netspend card because I get to pay my bills early

  • Tara

    I actually went last night and purchased a netspend card at 7-11 for the $3.95 card fee and added $10.00 so i could activate it. I also purchased a netspend vanillareload.com reload pack for $105.00 plus the $3.95 fee.

    I activated my new card online, immediately added the reload pack, and received an INSTANT $50.00 account incentive bonus from netspend.

    I then went to the atm and was able to withdraw the $160.00 IMMEDIATELY!!!

  • Tara

    Meant to add, by doing it this way, I received $32.05 profit

  • Norine

    Hi, I signed up for Netspend and it was not an easy task. It took me over a month to get
    the funds transferred. Tried through paypal but had to be lower than my balance, then I tried transferring funds to paypal from checking and 4 trans failed. I guess that was my bank? idk, finally did a trans on my checking website and there was a $3.00 fee but the money is in there now. So I made $17, was it worth it, not sure.

    • http://www.thepennyhoarder.com Kyle Taylor

      Hi Norine -

      Sorry it was so much trouble for you.

      I just did an ACH transfer from Netspend to bank and was able to avoid the fees all together. Sounds like your bank was a bit stubborn with you though. :(


  • Nicole

    I signed up but haven’t gotten my $20 bonus is there a Referral code I was supposed to put in? I used the link above. Grateful for any help. Thanks

    • http://www.thepennyhoarder.com Kyle Taylor

      Hi Nicole -

      No, you don’t need a referral code as long as you used the link above. Have you already funded your account with the $40? From my end, it says that they are waiting for you to fund your account still… Let me know if that isn’t right and I’ll help you contact Netspend.


      • Nicole

        No, I deposited $40 almost 2 weeks ago. Please help! I called and tried to give them referral codes I got online and they said the codes were already used. I have their number but they said I needed your name and all I know is Kyle. I would welcome your help because it would be nice to get $20 out of this. Thanks

        • http://www.thepennyhoarder.com Kyle Taylor

          Hi Nicole -

          I’ve reached out to the CEO of Netspend to find out what’s going on. Hopefully we can get this cleared up this week…


          • Nicole

            I still only have $40 in my account nothing has changed from my end. How about yours? I am going to see if I can cash it out soon if nothing happens because I don’t want to be fee-ed to death.

  • Quintessa

    i didn’t get my $20 added, im confused

  • Michelle Jennifer Lis

    Here’s a referral code:


  • bee

    If I don’t have a bank account or a PayPal how else can I load my card to get the $20 extra?

  • fran

    Opened an account with Netspend. I don’t remember if I clicked on the link here or no; probably have. Received the card, activated it. Then got an email that the bonus was refused. Good thing they told me before I transferred any money. Called to cancel the account immediately, which was done rather easily and quickly over the phone. Only left to cut the card and forget about it. If you think you’ll get a bonus thanks to Kyle, NOT. Beware.

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