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What’s the PayPal Prepaid MasterCard?
The PayPal Prepaid MasterCard is a reloadable prepaid debit card aimed at PayPal account holders with either a Personal or Premier account. Any US resident aged 18 or over and with a valid SSN and physical US address can buy a PayPal Prepaid MasterCard, but to access the full features and functionality of the card you already need a PayPal account established.
This card may be useful for you if you can’t get a bank account but you want to use some online banking services (plus it’s the only prepaid debit card that lets you make instant transfers from a PayPal balance). There’s no credit check required to get this MasterCard, but there is a fixed monthly fee so it may not make sense to your financial situation.
Tell me more about the PayPal Prepaid MasterCard…
You can use this MasterCard like you would any other debit MasterCard, so as long as you have funds loaded onto it, you can pay for your Starbucks, grab a Red Robin burger or buy a new PS4 game. Whatever your shopping needs or culinary tastes, you currently pay no purchase fee when you order this card online, then you can activate it and load funds and you’re all set.
There’s several ways you can add money to your card, including:
- Direct Deposit – which is free for you to use to add all or part of your pay check or government payment to the card.
- PayPal instant transfer – the free way to transfer funds instantly from your PayPal account to your card account.
- NetSpend Reload Network – you can add money to your card account in-store at Reload Centers, though a reload fee may apply.
- Tax Refund – you can even tell the IRS, your state and local tax authority to electronically deposit any refund to your card account!
You can refer friends to the card and both you and your friend earn $5 when their card is activated and loaded with $10. There’s also a rewards program that you are automatically enrolled in when you purchase a card, with the rewards based on your personal shopping habits.
How do I get the PayPal Prepaid MasterCard?
Order your card here online with no purchase fee and it should be delivered within 7 to 10 days. Alternatively, you can buy a temporary card from a Reload Center; the price depends on the retailer. In order to then receive a personalized card, you’ll need to activate the temporary card and verify your identity.
What else do I need to know about the PayPal Prepaid MasterCard?
This prepaid debit card has a monthly fee of $4.95; the first fee is deducted from your card account within 36 hours of purchase.