Paypal Prepaid Debite Mastercard

Discussion in Credit Cards started by FrugalFranny • Mar 30, 2014.

  1. FrugalFranny

    FrugalFrannyNew Member

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    Does anyone have a Paypal Prepaid Debit Master card? I've had mine for 3 months now. I bought one to transfer the money on my PayPal to the card & then I use it or do a cash-back and retrieve my desired amount. I rarely use the ATM because I've noticed with my PayPal card, PayPal charges their own fee and then on top of that, my ATM charges their own fee! I know, it's so complicated! I'd rather have cash on me at all times with the majority of it being in a very hidden place! Oh yeah, did I mention Paypal has this maintenance fee every month on the 17th?? I believe the fee is 4.99. An advantage for this card is, that its not from a bank, so you can't get overwhelmed by overdraft fees.

    One more advantage of this card is that you can get it customized & when you're transferring money from PayPal to your Paypal card, you can do it in REAL-TIME. Literally a couple seconds after transferring, you'll get an alert with your New Balance on it.
    Anyone tried it yet? If so, What do you think about ? I
     
  2. Qualitycontent

    QualitycontentMember

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    As far as I know, the Paypal card cannot be used at a ATM. You can not get money out of your Paypal card. But you can spend it on shopping and paying bills. The Paypal card is convenient because you have money in your card as soon as it gets in your Paypal account. Paypal is great. I used to have a security key that gave me a random number to put on Paypal every time I logged into my account. That is for extra safety so no one can get in your account. I also like Bill me later that is another service connected to Paypal. Once, I lost my bank debit card and the Paypal card came in handy because I could use it just like my bank debit card because it was connected to my bank account.
     
  3. FrugalFranny

    FrugalFrannyNew Member

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    Ive never tried getting money out from an ATM with my Paypal card but I have received money back from a cashier using the card, plus a purchase. I don't know which card I will get next or if I chould just open up a new bank account.
    I don't trust banks.
    Ahhh, I'm going to have to find an alternative quick! :rolleyes::confused:
     
  4. stacyje

    stacyjeActive Member

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    I love my paypal card and i can use my at any atm location , and I love that fact that you can purchase cards to load them. I would recommend you go and set up an account on the paypal site and connect it to your checking account and apply for the free debit card sane as the one you purchase out the store but this one has no fee.
     
  5. Oakster

    OaksterActive Member

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    Could I use this card on websites which accept Mastercard but not Paypal payments?
    Or would it not work because it is a debit card?
     
  6. Jessi

    Jessi<a href="http://www.quirkycookery.com">QuirkyCooke

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    As far as I know, yes. At least a couple years ago, you could, because it has the Mastercard logo on it and can be used like a credit card.
     
  7. jneanz

    jneanzActive Member

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    I got a PP business debit a long time ago and though some fees are added when I deal with overseas clients, I have no monthly fees. In fact, I get a small percentage back on purchases. I like it because the money is added/deducted immediately. It's also a nice backup for when I'm having problems with a brick-and-mortar bank.

    The downside is that I used to be able to make cash withdrawals at any Chase ATM but now they want $3. And I can't deposit hard copy checks.
     
  8. ohiotom76

    ohiotom76Well-Known Member

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    It sounds like they have several different types of cards. I have a PayPal "Business" debit card - whatever that means, but basically it allows me to shop with my PayPal card anywhere that accepts credit cards. I can withdraw cash as well from it just like an ATM, but I never use that feature because I don't want to pay the fees. I guess I will need to re-read the fine print on it though, but I don't recall them mentioning anything about double dipping with ATM fees - getting charged by the bank and Paypal, but I also haven't tried to yet so I can't say for sure if they do that or not.

    The only reason I got it, was so that I could have instant access to my PayPal funds whenever someone paid me. Otherwise I was having to wait several days for my funds to get transferred over to my bank.

    If you happen to have a PayPal debit or credit card, and it's associated with a checking/savings account, I would highly recommend removing those accounts. Reason being, if you have some unexpected charges hit it, and the funds aren't in your PayPal account, they will keep hitting your checking/savings every few days until they get the money. If the funds aren't in your checking or savings, not only will you get hit with an insufficient funds fee, but you cannot stop Paypal from trying to charge your account automatically several more times, resulting in more NSF fees. Paypal will not budge on this and they will not let you take the account off of your Paypal account. The banks won't do anything to stop the charge attempts either.
     
  9. ZRadach

    ZRadachMember

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    I have had one for a while, but, I don't remember a 4.99 fee... it was free, as far as I can remember! I got it for the 1% cash-back offer. At one time, it was a very smart thing to do... Paypal had a money market program that would automatically put one's balance into the money market, then, 1% of the total of purchases that required a PIN would get credited back to your account! And the money market rate was over 3% APY! But, since then, the money market program has closed. I still don't remember any charges or fees involved whatsoever. Maybe the business structure has changed? Regardless, I still see no drawback as long as the fee you were talking about is a misunderstanding or a fee for some service that you used, because I used it in place of my debit card (but did not use ATM's) and don't remember getting charged any fee of any sort.
     
  10. Dola1991

    Dola1991New Member

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    The paypal card is awesome. The paypal account/card combo replaced my bank account. It is quite useful. The only thing I don't like is the $4.99/mo fee. Other than that "It's my money and I need it now!"
     
  11. Allison2021

    Allison2021Active Member

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    Try applying for the regular PayPal Mastercard. It will pay you one point for every dollar you spend. Next I would apply for a Capital One cc because they are easy to obtain. Last, I would try the Credit One Bank card. They are easy to obtain. Those are great ways to build up credit.
     
  12. TuRon Davis

    TuRon DavisActive Member

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    You can actually withdrawal money from an ATM machine just like any other card. Like Frugal said they just charge you an additional fee. PayPal being a MasterCard is no different than any other. It can be used just like all major debit cards. I've had one over a year now, and I have made several withdrawals from ATM's. The main thing I love about the card is how you can transfer money from Pay Pal instantly. This really helps when you need fast cash from Pay Pal.
     
  13. Jessi

    Jessi<a href="http://www.quirkycookery.com">QuirkyCooke

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    Ah, I found the source of the fee that some people are talking about:

    Please Log In to view this link!



    The PREPAID card has a $4.95 fee. The regular debit card that pulls money directly from your account is still free, as far as I can tell.
     
  14. gmckee1985

    gmckee1985Active Member

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    I'm a big fan of this card. I do a lot of work online for extra cash and it's really convenient for me to use it since most sites pay via PayPal. I just instantly transfer that money from my paypal account to the prepaid card and use it to cover various expenses. It's a really handy card. Definitely recommend it. Especially to those who do work online.
     
  15. ZRadach

    ZRadachMember

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    Thanks, Jessi, very much for the "research."

    This cleared up some confusion on my part... as far as I know, there are almost no drawbacks to using the mastercard, beside maybe a few potential--yet highly unlikely--problems with PayPal not having to comply with federal rules since it is a business and not legally considered a bank. I have heard of them freezing accounts for hardly-defensible reasons then using the money(s) to invest and accrue interest while said money(s) are unavailable to the supposed "owner."

    Thanks for reading and have a great day! :D
     
    #15Jan 10, 2015
    Last edited: Jan 10, 2015
  16. ZRadach

    ZRadachMember

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    The owner is a bit odd, so I hear...

    I have also read about the owner of PayPal being an ultra-rich (billionaire?) individual that is planning, or had planned, to buy a large island in the ocean and create what was deemed a "libertarian paradise."

    This has been tried and mostly failed in the past, often with shockingly violent consequences (the dramatic and almost surreal past of "

    Please Log In to view this link!

    " notwithstanding).

    I would be a bit weary of putting too terribly much trust in an organization ran/run by a person with such a propensity for risk-taking that also seems to be quite eccentric.

    Thanks for reading and enjoy the rest of your day! :D
     
  17. hellonamesdana

    hellonamesdanaMember

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    I had one, but when someone used the card without my knowledge they cancelled the card for the time being. I need to get myself a new one very soon because I really loved having the paypal card because it's so convenient. Once you put the money onto the card it's immediately there and really great to have when all of your online earnings come to your paypal account but you wanna go out and buy something!
     
  18. nonsiccus

    nonsiccusActive Member

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    I hadn't heard of this before - I assume it's more useful for people who are online vendors or are paid via PayPal very often? I can't imagine it being too useful if you only ever have under $100 on there for small purchases. Withdrawing the money directly to an associated bank account would be more convenient for most people I would assume, but I guess this debit card could serve as a tideover should you not happen to have a bank account supported by PayPal... or perhaps don't want to associate it for whatever reason.
     
  19. Lushlala

    LushlalaWell-Known Member

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    Wow, I really like the idea of this card, I like all that I'm hearing here. But it's a bit weird how I'm only now hearing all this! I'll have to check my Paypal account to see if I'm eligible for the card. I wouldn't be surprised if it's available in only a small handful of countries, or if there were a few exceptions. Fingers crossed; I really want to get my hands on one :)