Funds used for the PayPal Prepaid card account are held in an FDIC-insured account with The Bancorp Bank. Funds need to be loaded onto the prepaid card to utilize the card. The PayPal Prepaid card does not pull funds directly from your PayPal account.
For current, active PayPal users, the best thing about these cards is that they link to your PayPal account. If you have a PayPal account where you regularly keep funds, they can be convenient. However, PayPal offers an option to transfer your balance into your bank account, which may be more convenient for some users than a card that pulls from your PayPal account.
Thank you for this information. I decided to go with the debit card version (not the prepaid) as I go from primary cash to using a card for online purchases. My family has always trusted PayPal and find their services fantastic.
3 PayPal Transfers require a PayPal Balance account and a personalized card, which arrives within 10 business days after activation of your instant-issue card. If you do not already have a PayPal Balance account you will link to this Card, visit www.paypal.com to get one, or you may get one when you activate this card online. PayPal Balance account required for certain features, but not to have the PayPal Prepaid Card. Transfers may not exceed $300 per day/$2,000 per rolling 30 days and are limited to the funds available in your PayPal Balance account. Transfers may only be made in the name of a valid PayPal Prepaid Mastercard Cardholder. Only one (1) PayPal Prepaid Mastercard may be linked to one (1) PayPal Balance account. PayPal Transfers cannot be reversed or canceled. The Bancorp Bank and Mastercard are not affiliated with, and neither endorses nor sponsors the PayPal.com online account to which various funding sources, including a PayPal Prepaid Card, may be linked.
3 PayPal Transfers require a PayPal Balance account and a personalized card, which arrives within 10 business days after activation of your instant-issue card. If you do not already have a PayPal Balance account you will link to this Card, visit paypal.com to get one, or you may get one when you activate this card online. A PayPal Balance account is required for certain features, but not to have the PayPal Prepaid Card. Transfers may not exceed $300 per day/$2,000 per rolling 30 days and are limited to the funds available in your account at PayPal. Transfers may only be made in the name of a valid PayPal Prepaid Mastercard Cardholder. Only one (1) PayPal Prepaid Mastercard may be lined to one (1) account at PayPal. PayPal Transfers cannot be reversed or canceled. The Bancorp Bank and Mastercard are not affiliated with, and neither endorses nor sponsors the PayPal.com online account to which various funding sources, including a PayPal Prepaid Card, may be linked.
This is because due to the nature of prepaid gift cards, they can become low in balance over time to cover the recurring amount. In order to protect our members from unintended service interruption, prepaid gift cards cannot be used for payments automatically pulled from PayPal accounts.
If you get a declined message during checkout even if the prepaid gift card has enough balance to cover the full amount, then you may have to register your billing address with the card issuer. Look for a contact website or phone number on the back of the prepaid gift card to complete the registration process. Once registered, please try again.
In rare occasions, you may have to register your billing address with the card issuer. Look for a contact website or phone number on the back of your prepaid gift card to complete this registration process.
To launch the new card, PayPal worked with InComm, a provider of prepaid products, including wireless cards, gift cards, redeemable debit cards, promotional cards, gaming cards, and other stored value cards in the industry.
Note: The types of cards accepted through Google Play may vary. If your card doesn't work when you think it should, contact your bank or card issuer for help. You may notice temporary authorizations on your account when using a credit or debit card.
PayPal offers a prepaid card under their own brand alongside the ability to add funds to other standard and prepaid cards. Your prepaid card must be linked to your PayPal account in order to be deemed eligible for a transfer. In addition to prepaid card options, you can simply order a PayPal debit card that is connected directly to your account. PayPal makes it easy to access and transfer your funds using a variety of methods. Personal and business level accounts can add funds to prepaid cards.
You can load a PayPal prepaid card through instant transfers. Being a PayPal-to-PayPal transaction, there is no fee for the service. You can also load another card that is connected to your account through instant transfers but will be required to pay the 25 cent transaction fee. With instant transfers, the money is available almost immediately. If the systems are working slowly, it may take a half hour in the worst case scenario. An instant transfer is your quickest route to loading the card.
There really is no need for a PayPal prepaid credit card when PayPal offers a debit card. Unless the prepaid card offers incentives for your credit or bonuses like air miles, you can simply order your PayPal debit card and access the account funds at anytime. The card works like any bank debit card with the ability to swipe or draw cash from an ATM. It also has a credit number for online orders and manual input. The debit card is the quickest and easiest way to access and spend funds inside the account. If you prefer loading a prepaid card, it must be a card in your name and connected to your account. Loading prepaid cards in another name requires transferring funds to the owner's PayPal account so they can load their own card.
Like ATM fees Neither do we. Get our reloadable prepaid Mastercard and skip the ATM fees at participating 7-Eleven stores. Also use it to pay bills with ease, access your paychecks up to 2 days early and make a purchase anywhere Debit Mastercard is accepted.
Prepaid cards are a relatively simple way for you to pay for purchases without opening a credit card or bank account. They work similar to a debit card in that you can use a prepaid card to pay bills, set up direct deposit and use mobile check deposit. You'll even receive the same $250,000 FDIC insurance that protects your deposits if your bank fails.
One reason to opt for a prepaid card over other forms of plastic is that it's a relatively low-risk way to manage your money. Parents can use prepaid cards as a way to teach their kids about money before making them an authorized user on their credit card. And if you struggle to stick to a budget, you can use a prepaid card to help monitor your spending, with the goal of eventually graduating to a credit or debit card.
If you're interested in opening a prepaid card, there are wide variety to choose from. To help make the process easier, Select rounded up the best prepaid cards, and below we've broken down everything you need to know before you sign up. (See our methodology for more information on how we chose the cards.)
Similar to a gift card, you add value to the prepaid card before you can use it, which is essentially like prepaying for future purchases. But prepaid cards come with a few more bells and whistles, like the ability to set up direct deposit and check your balance on a mobile app. They also require more attention since you can incur fees for simply having a card or reloading it with more cash.
Prepaid cards can be used to make purchases and pay bills, just like debit or credit cards. They are accepted nearly everywhere since they are often backed by a major card network, such as Visa, Mastercard or American Express.
One disadvantage of using a prepaid card is that you can only complete transactions up to the amount you have loaded onto it. If you add $200 to your prepaid card, you can only spend up to $200. Any purchases you attempt to make exceeding $200 will be declined until you load more money onto your card.
Additionally, there's often a cap on how much money you can have on your card. The cards on this list have limits ranging from $5,000 to $100,000. That said, the cap is generally pretty similar to a credit limit on a credit card.
Before you open a prepaid card, it's important to understand what fees may be associated with them. Most prepaid cards charge monthly maintenance fees around $10, which is similar to checking account fees that can cost up to $15 a month. But you may also pay a fee to open your prepaid card, typically around $5.
Prepaid cards are a good option for parents who want to give their kids spending money without handing them cash that could potentially get lost. You can request a new prepaid card if it goes missing, and many card issuers allow you to lock your card to prevent unauthorized use. 59ce067264