PayPal Cash Card Overview
PayPal is an extremely popular and widely used cash service online. PayPal continuously upgrade their platform with innovative ways to send and receive money and update safety features, allowing their clientele to feel secure when buying and selling. Boasting 200 million plus members it only makes sense that PayPal will have their own branded reloadable prepaid card. The PayPal Cash Card makes getting paid instantly easy with its direct deposit option.
The PayPal Cash Card can be ordered online once you set up an account (it is free to join). There are no fees associated with creating an account or acquiring a PayPal Cash Card. There are absolutely no monthly fees and no minimum balance requirements. It is common for reloadable cards to charge an inactivity fee when you are idle with your spending habits for an extended period of time, however, PayPal will not charge you any additional or hidden fees related to inactivity. This makes the PayPal Cash Card a stress free option for infrequent users.
PayPal will not charge cardholders fees for direct deposits, linking and transferring funds from your PayPal to your bank account, receiving funds from family and friends, using your card in-store or online to make purchases. Because PayPal will only allow funds to be withdrawn when there are sufficient funds, no overdraft or ATM decline fees will ever be charged!
Now that we’ve discussed the non-existing fees, lets discuss some of the existing fees of the PayPal Cash Card. There is a small charge of $2.50 when withdrawing cash from domestic ATM and a fee of $3.00 when withdrawing cash at any bank or financial institution. A rate of 2.5% will be applied to foreign transactions made outside of the US and $2.50 will be charged for foreign ATM withdrawals. This rate is slightly higher than regular prepaid cards and is comparable to many credit cards.
There is a daily limit of $400 when withdrawing funds from any bank or ATM and a daily limit of $3000 for debit purchases. The daily limit for loading your PayPal Cash Card is $1500 and a monthly and a $5000 load cap. This means that you cannot load more money onto your card until the limit is reset the following month.
At the current time, PayPal does not offer a direct deposit option straight into members PayPal account. Members can only directly deposit money into their PayPal with either a PayPal Cash Card or using PayPal’s barcode reload service. PayPal is a very handy way to track your spending, budget and manage your funds. The PayPal Cash Card is very convenient when traveling.
PayPal is a massive company that is known worldwide. With strict safety protocols in place, you can be sure that your money is secure, whether you are spending domestically or traveling abroad.
PayPal Prepaid Card
PayPal is one of the most used payment provider on the internet, boasting 237 million members worldwide. It’s only natural that PayPal offer a prepaid card ins’t it? PayPal prepaid card is connected to your PayPal account. However, we can’t really say this is a perk since users can connect other prepaid debit cards to their PayPal account. The PayPal prepaid card requires that you have an active PayPal account in order to receive a card. So even if you pick up a card from the store, you still have to have an active PayPal account.
Reloading Your PayPal Prepaid Card
Users can reload their PayPal prepaid card at any Netspend reload center (Find the closest location near you by clicking here). Users can also reload their PayPal prepaid card by visiting a CVS, Family Dollar, 7-Eleven and other locations and providing the cashier with a PayPal Barcode.
PayPal prepaid card doesn’t offer anything special that separate it from other debit card users. One would say the ability to accept PayPal payments and sync it to your PayPal prepaid card is a benefit. However, as we already pointed out you can attach any debit card to your account and sync your PayPal payments to the card on file.
PayPal Business Debit Card
PayPal business debit card is different from its prepaid card. This debit card is offered to those users who have a PayPal business account and conduct business on or off-line. There are certain services online that requires you to have a bank card and does not accept many prepaid or debit cards. We have found out that PayPal business debit card is one that is accepted by these services along with Green Dot’s debit card.
Other Benefits of PayPal Business Debit card
- Earn 1% cashback on eligible purchases.
- $1.50 withdrawal fee (Domestic & International)
- $3,000 daily spending limit, $400 cash withdrawal
- Request additional cards for your partners
- Protection against unauthorized charges
- Receive funding for your business