PayPal is commonly used among Online shoppers and business owners transferring money online with the PayPal Prepaid Mastercard. However, the platform offers this option for debit cards and they also offer benefits for Paypal Prepaid Cardholders. Also, two Prepaid cards are available, the PayPal Prepaid Mastercard and Prepaid Cash Mastercard. Where each of them gives the benefits, fees, drawbacks which we will be explaining in this article. Each of the PayPal Prepaid multiple options for loading money onto the card which includes transferring Funds from a linked PayPal account.
PayPal Prepaid gives users access to funds directly from your account balance when making a purchase. Also, with a direct deposit at no extra cost to fund your PayPal balance. With an option for cash withdrawals at 25,000$ Moneypass locations. However, for PayPal users with the Prepaid cards get special offers and cash-back rewards. With the potential for 5% APY by opening an associated savings account and Cash withdrawal options. Both cards are issued by The Bancorp Bank which can be use anywhere Debit Mastercard is accepted. Also, it includes Online and instore that accept Debit Mastercard where cardholders must link their cards to their PayPal account.
How to Get or Apply for a PayPal Prepaid card?
For anybody that wants a PayPal Prepaid you must have a personal or Business PayPal account and is available in the U.S. However, you must have a confirmed physical street address and active PayPal Member in Good standing. Also, Anywhere in the U.S where PayPal is available, you can use the cards that have a Visa, Mastercard, American Express, or Discover logo on it. Here are a few steps on how to get or apply for a PayPal Prepaid Card;
- Launch any web browser on your device or the PayPal Mobile App
- Go to PayPal at the homepage Navigate and click on the Get the Card icon and wait
- the Next Page will require you to log in to your PayPal account either personal or Business.
- Then click on Get to start the card Processing.
How does the Prepaid card work?
The Prepaid Card works just like the Normal Debit card where the card lets you add funds and pay with the card. However, with the card, you could purchase supplies both online and in-store for your business. Where they accept credit or debit cards and use the card to let your employees make purchases for the office.
The PayPal Prepaid Card to withdraw cash at any ATM and a special Benefit for cardholders when the card is use at any Moneypass Network ATM in the U.S. However, the card comes with a variety of fees, for starters you will pay a plan fee of $4.95 per month. Also, the first month fee will be remove from your account within 36 hours from the first time you load the card.