Monday, October 23, 2017

Lessson 2: Sign Up For Netspend cards.

Step 2: Sign Up For Netspend cards (at least 24 hours apart or you will get errors**):

If you use my referral code to apply for one of these cards, you will get a $20 bonus when you deposit $40 or more onto the card. You will only get the bonus if you haven’t gotten a bonus in at last 6 months.



**If you DO HAVE $1000 for each Netspend card you sign up for then you will make more money in interest if you order the cards 24 hours apart and load them with $1000 as you get them. The reason they have to be 24 hours apart is because they are all part of the Netspend card system and it will create errors if you don’t order them 24 hours apart.

**IF YOU DON’T HAVE $1000 for each Netspend card, then sign up for one card at a time and put money on that card until at least 6 months passes, then sign up for the next card. This way you will get the sign up bonus each time which is almost as much as the interest that you would have earned if you had loaded the cards in the first place.


Once you get the Netspend card in the mail, activate it online or by calling the number on the card. Log on to your account and once you get to the main screen, on the left hand side there is a button that says “Direct Deposit”. Once you click it you will be taken to a page that has a routing number and an account number. These go to the CHECKING account that the card is attached to. Copy the routing number and open a new tab/window.

Log on to your Free Discover Savings account and at the top of the page click “Transfers” > “Make A Transfer” > “External Accounts” > “Add External Account”

It will ask for the ROUTING NUMBER FIRST. For some reason it will make an error if you don’t put the routing number in first. So enter the routing number, then the account number, Select “Checking” as the Account Type, and choose a nickname. After that just click the box saying you own all the accounts in this transaction and click “Continue”

Follow the instructions until you get to a confirmation screen and log out, or if you have multiple cards, repeat the process with each of them.

A few days will go by and I even received a phone call from Discover asking if this was really me. Nice job Discover fraud department! Then two small transfers will deposit in to the account and one will transfer them back out. Write down the numbers as 1, 2, 3, Where #3 is the transfer out and #1 and #2 are the two transfers in.

Log back in to your Free Discover Savings Account and you will see a box that says “You have accounts ready to confirm.” Click it, and enter deposit #1 and #2 in order. Then click confirm.

Once the account is confirmed go into “Transfers” > “Make A Transfer” and set up a one time transfer for somewhere between $40 and $1000 dollars. If you used my referral code you can transfer $980 from Discover and Netspend will give you a free $20 to make it $1000. You can get this bonus once every 180 days.



Take the interest and put it in the Discover savings account and use that to fill the Netspend cards until there is $1000 in each savings account.


The cards and routing number are attached to the CHECKING account which earns $0.00 in interest per year, but if you deposit $500 in one month you get to sign up for the ULTRA HIGH INTEREST SAVINGS account that offers 5% APY for the first $1000 and 0.5% for everything above that. That’s $50+ per card! Sign up for the savings account as soon as they offer it to you, and transfer all the money on the card to the savings account until you have $1000 in savings.

The $20 bonus posted SAME DAY.



Wait 24 hours if you have $1000 to load, wait 180 days if you don't.

Wait 24 hours if you have $1000 to load, wait 180 days if you don't.


Wait 24 hours if you have $1000 to load, wait 180 days if you don't.


Wait 24 hours if you have $1000 to load, wait 180 days if you don't.


The reported MAX number of Netspend cards you can sign up for is 3 accounts per backing bank. (check the fine print on the back of your Netspend card) In My case I have two with BofI and three with Metabank, so I probably can’t sign up for any more Metabank backed Netspend Cards. You can try, the worst that will happen is you will be turned down.

6:??? This spot is theoretical, I don’t have 6 cards, but there are 6 free transfers per month from the Discover Savings account so you COULD have six. https://www.paypal-prepaid.com/ is an option, but if you were going to get another bank account, like the Northpointe Credit Union account that offers 5% APY up to 10k if you use the account as your main checking account.

5 Netspends + 1 Northpointe = $15,000 in savings earning 5% APY. That’s $750 per year IN ADDITION TO the $400+ I’m getting back from my cash back credit cards. $1150 estimated free money by 2019 (not 2018 because I don’t have $10,000 to load into the Northpointe account just this minute.)
No fees as of 10/2017.

When I say Free Money, You still have to pay taxes on it.
ON TO LESSON THREE>>

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