First of all, most people that have a Netspend card actually hate it. All it is is another one of those prepaid Visa/Mastercard type of cards but the fees are ridiculous. If you pay $10 a month, you can save on all the fees associated with making a purchase with your card or checking your balance. Yes, their petty asses will charge you to check your balance. However, that $10 does not include ATM fees and there are no free ATMs. So not only do you have to pay the ATM fee charged by the ATM, but you are charged a fee by Netspend as well. It can easily cost an additional $5 to withdraw funds from an ATM using your Netspend card.
Their referral program? Is it so lucrative because they are making so much money in fees? Also, why does it seem like no one takes full advantage of what Netspend gives for referring your friends and family?
Here is how it works:
- Directly refer someone to Netspend where they order a card.
- In 5-7 business days they will receive the card and load $40 onto the card. This will cost them $45, with the $5 being the service fee, charged at the register, for loading the card and the $40 becomes the cards available balance.
- In two days, both you and the person you referred who loaded $40 onto their card will receive $20 from Netspend deposited directly into your Netspend account.
- The only stipulation is that the person you refer can not have done anything with Netspend in 180 days.
The best thing about this referral program isn’t even the fact that you are given $20 for every person that follows through. It’s that there is no cap on earnings. You can make as much as you like. If you refer 100 people and in one day 80 of them load their card with $40 then Netspend will give you $1600 and a 1099 so you can report your earnings the upcoming tax year. The only downside is you can only send referrals directly through email. Unfortunately this referral program is by invite only which is why (I believe) this opportunity is unchartered territory. Most of the bigger internet marketers don’t have time to send out direct referrals. I send mine out once a day when I get home from work.
If you want to do this deal with me to put yourself in a position to do this deal with others, I think that would be an awesome move. At the very least, we both made $20 and neither of us had to do too much. Well, I had a lot to do because I had to pull this post together and promote it in such a way that you would be reading this right now. Your job, on the other hand, is a bit easier. You just have to load your card with $40 and share the opportunity with your Facebook friends to get your momentum going. Once that happens, I should have some more deals and direction.
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