It might take a few more seconds than that but it's completely possible.
NetSpend is a pre-paid debit card that has been in business since 1999. The prepaid debit cards is extremely competitive so it's not uncommon for a company to offer incentives to pick them. This $20 referral bonus is that incentive.
1. Sign up with this link and if they ask, make sure to use the referral code 3036538070. Without the code, you won't get your $20 bonus. The signup process took just a few minutes.
2. Wait for the card. They recommend you Activate your Card before you do anything else, just in case there's a problem. I applied on July 6th, got my card about 10 days later (not sure if weekend days count), and activated it.
3. Transfer $40 into your account. There are several ways to transfer funds but PayPal or a bank transfer do not have a transfer fee. I went with PayPal. Within a couple days (mine was there the next day), you'll see the bonus appear.
4. Spend the money. It's a pre-paid card so there are fees. There's no monthly fee on the “Pay As You Go Plan” but you will pay $1 per Signature Purchase Transaction or $2 for a PIN Purchase Transaction. You can also make an ATM withdrawal but that costs $2.50 per withdrawal. I bought an Amazon gift card ($59) and come out ahead by $19.
When spending the money, you have to remember your spendable balance is $1 less than your total. So I have $60 on the card but any transaction above $59 will be rejected.
5. Keep the account or close it. Up to you, personally I would close it if you aren't ever going to use it. To close your account, log in and look under “Help & Support” for “Close Account.”
You can also refer your friends and family too. They get $20 when they do exactly what you did and you'll get $20 for referring them. By that same token, we're getting $20 for referring you. It's one big referral party!
Enjoy your brand new $20!
(full disclosure, we also make a referral fee too and it helps pay for the cookies!)