Netspend Blog

Being scammed can feel like having your home invaded. Your sense of trust is broken, and you become determined not to let it happen again. If you've been a victim of a scam, you may not be able to turn back time, but you can use it as an opportunity to learn some valuable lessons. Here are a few examples of what you can do to prevent being scammed in the future.

As you probably know, we typically receive direct deposits from the Social Security Administration prior to the payment date shown on the Schedule of Social Security Benefits Payments 2020. We post your benefits to your card account as soon as we receive it so you can get paid.

Can’t get a checking or savings account? You might be in the ChexSystems or Early Warning Services databases which are used by banks to determine whether to let you open a savings or checking account. These are two of the primary Bank Account Screening Consumer Reporting Agencies.

The Treasury Department and IRS have announced more information around the distribution of the government stimulus package/checks, or, as they’re calling it, economic impact payments (EIP). For the most up-to-date information go here.

We understand these are tough times as we adjust to staying home more and social distancing from each other. It can be even tougher for those without bank accounts, but Netspend can help.

The end of the year is truly the best time to evaluate your financial situation. This is when credit card companies and banks send end-of-year statements to their customers. Employers will soon send the necessary forms for filing 2019 taxes.

January is the month almost everyone says, “Oops.” That’s when the bills from your holiday spending arrive.

Each year, the IRS releases the Dirty Dozen – a list of the largest tax scams they saw for that year's taxes. The IRS scams list reads like a playbook from the past, with phishing, identity theft, and fake charities making the top 12. These common scams are increasing in complexity, so they require a careful look. In addition to expected appearances, the list is dominated by private, white-collar fraud, including abusive tax shelters, partially-fraudulent business credit applications, and falsified credit claims.

Over the years, both prepaid cards and gift cards have evolved to be more consumer friendly. They now come with a variety of features that are designed to make them a great payment method for the consumer. However, before you decide to load money onto either of these payment options, it's important to know the difference between these two cards.

Going digital has certainly changed the way we listen to music and watch TV, so it should come as no surprise that it’s changed the way we pay for things too. Now you can make purchases using what’s called your digital wallet. And don’t worry, if you’re not really sure what a digital wallet is or how to use it, we’ll get to all that and more.

Identity theft is common. So common, in fact, that according to a poll, 60 million Americans were affected in 2018. To fraudsters, data is a valuable commodity, and your risk of exposure happens every time you connect. In addition to more victims having to pay out of pocket for their losses, a significant number of people do not yet use a more secure internet connection. For example, according to VPN Mentor, only 16% of Americans used VPNs (Virtual Privacy Networks) when connected to the internet, and that’s giving identity thieves precisely the breach they need to access lucrative information. To state it simply, VPNs can keep you safer when connected to networks that aren't your own, like public Wi-Fi.

With the holiday season upon us, most U.S. consumers are creating gift lists and hitting the store aisles. However, this time of year proves more financially challenging than cheerful for a significant portion of the population. Despite economic growth and the availability of online financial services, nearly 27% of U.S. households remain unbanked or underbanked, according to the Federal Deposit Insurance Corp. Additionally, even though the poverty rate in the U.S. is slowly improving, the general cost of living it is still a problem in many areas of the country – including Georgia and Texas, home to two of Netspend’s national offices.

In a world where data breaches are all too common, using a Virtual Account can help protect you from fraudulent charges when you shop online or by phone. If you’re familiar with digital wallets, Virtual Accounts are similar in that they use a digital account number. However, they provide an added level of protection because a Virtual Account is temporary and doesn’t use your main Netspend Card Account number. In fact, not only is the 16-digit card number different, so is the expiration date and 3-digit security code.

Phishing, Nigerian letter fraud, and ransomware are scamming tactics that have been used for years, but they’re capturing new victims through an ever-increasing degree of sophistication. This year, phishing – an attempt to get your sensitive information through seemingly trustworthy electronic communications – accounted for 90% of all data breaches, having grown by 65% in just 12 months.

If you've decided that it's time to work on setting goals that will help you achieve more financial balance and financial security, you deserve a hearty pat on the back. It's time to take more control of your finances and start dictating more of your future, but before you're off to the races, take the time to understand what constitutes a reasonable goal that will yield the results you want. Here are five mistakes you should avoid when setting financial goals.