If you have a PayPal business account, then you have access to a debit MasterCard which will give you instant access to whatever remaining balance you have. What can you do if you have a personal PayPal account? A prepaid debit card, which is also branded with MasterCard, is the solution.
Can I Use More Than My PayPal Balance?
When you are approved for the PayPal prepaid debit card, you can instantly move money from your PayPal account balance to your prepaid MasterCard in real time. The transfer is immediate and funds are available right away.
You can also add funds to your prepaid debit card by allowing a direct deposit to be placed on the card. PayPal currently accepts direct deposits for paychecks and government benefits.
There are rewards available when using the PayPal prepaid card as well. Cash-back offers are routinely available for purchases that occur in specialty stores, restaurants, and many other locations.
Are There Limits or Fees with a PayPal Prepaid Debit Card?
You are required to have a PayPal account to be able to apply for this prepaid debit card. Only one prepaid card is allowed per account and it must be in the account holders name. Transfers from a PayPal account balance are limited to $300 per day and there is a $2,000 monthly transfer maximum.
Without a PayPal account, this debit card becomes a gift card only and no reloading is allowed.
Direct deposit authorizations fall outside of these transfer caps.
Once the card is issued, all new account holders are placed into a plan that incurs a $4.95 monthly fee for the prepaid card. This allows for unlimited purchase transactions as long as there is a balance on the card. The first plan fee is deducted from the card balance within 36 hours of purchase or application.
ATM withdrawal fees for this prepaid card are $1.95 per transaction, with foreign transaction fees applying to international ATMs. Balance withdrawals are available at financial institutions, but may incur a $2.50 per transaction fee.
There are no signature or PIN purchase transaction fees included with this prepaid card.
View for more details about PayPal Prepaid Debit Card.