

Each Virtual Account expires one year from the last day of the month in which the account was created.One of the leading online payment conduits, PayPal has now teamed up with dominant prepaid players, NetSpend and The Bancorp Bank to offer the new PayPal Prepaid MasterCard debit card. Each account consists of a 16-digit account number and a 3-digit security code, along with an expiration date. Virtual Card Numbers: You can create up to 6 Virtual Accounts for online or over the phone shopping or leasing. For balances above $1,000, the current APY is 0.50%. Note that the 5.00% APY applies to average daily balances of up to $1,000. You can also set up automatic transfers to the savings account to automate your savings.

You can transfer funds between your PayPal card and the savings account. Savings Account: PayPal Prepaid offers an FDIC-insured savings account that pays up to 5.00% APY. Refer a Friend: Refer a friend who loads at least $40 to their new card, and you both receive a $20 credit. These offers can be specific to certain retailers.

Payback Rewards: PayPal offers cash back rewards customized to your spending patterns. The PayPal Prepaid Mastercard® is an exception. Most prepaid debit cards don't offer cash back rewards. The account center also offers budgeting tools and enables you to set up Anytime Alerts. Online Account Center: With the PayPal website you can see all your transactions, set up direct deposit and activate Payback Rewards. The app also enables you to deposit checks by snapping a picture of the check. It allows you to send and receive money or find the nearest reload location. Smartphone App: With the PayPal smartphone app you can see your balance and transactions any time. To qualify, you must have completed at least one direct deposit transaction. Purchase Cushion: The purchase cushion may cover you up to $10. PayPal works with most major mobile phone carriers. You can setup alerts to be received daily, weekly or with each individual transaction. You can search for reload locations here.Īnytime Alerts: Receive text alerts for any of the following activity on your account: Reload Locations: Load cash to the card at over 130,000 retailer locations nationwide (part of the NetSpend Reload Network). Mobile Check Load: Using the PayPal card smartphone app, you can deposit checks by snapping a picture of the check. Early availability of funds requires payor's support of direct deposit and is subject to the timing of payor's payment instruction.

Fraud prevention restrictions may delay availability of funds with or without notice. Here's how PayPal explains its early funds policy:įaster funding claim is based on a comparison of our policy of making funds available upon receipt of payment instruction versus the typical banking practice of posting funds at settlement. No prepaid debit card can make that guarantee. Keep in mind that there is no guarantee you'll get paid 2 days earlier.
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Direct deposit is free and can result in getting paid up to 2 days faster. Add cash at more than 130,000 Netspend reload locationsĭirect Deposit: Get your paycheck or government benefits check (including tax refunds) deposited directly to your PayPal prepaid card.PayPal instant transfers from your PayPal account to the card (free).Direct deposit of paycheck or government benefits check (including tax refunds).There are several ways to add fund to the card: Add money to the card and it can be used anywhere Debit Mastercard is accepted, including online. The PayPal prepaid card is a reloadable prepaid debit card. Its long list of features and benefits, along with its low fees, earned it a spot in our list of the best prepaid debit cards and prepaid cards for tax refunds. The PayPal Prepaid Mastercard® is considered a top prepaid debit card. We'll cover the benefits, features and fees in this detailed review of the PayPal Prepaid Mastercard®. Behind its PayPal integration, it offers a wide range of benefits and features at a reasonable cost. The PayPal Prepaid Mastercard is the one and only prepaid card specifically designed to work with PayPal. Best Business Credit Card Signup Bonuses.
