PayPal Cash Mastercards are known as the debit card you can use with a PayPal Cash Plus account. The PayPal Cash Card lets you easily access the cash in your balance to shop online and in-stores everywhere Mastercard is accepted or withdraw cash at ATMs worldwide. Paypal users must link their cards to their PayPal account to use this card and enjoy its benefits. The PayPal Cash Card is not a credit card, so no credit check is required, no minimum balance, and it requires no monthly fee.
PayPal Cash Plus account is required to get the card, and also to use features explained below:
- Direct Deposit; you can easily Set up a Direct Deposit, at no cost, to receive funds automatically in your account.
- Cash a Check; you can add check funds to your balance in a few minutes. With the help of your smartphone camera, you can use the PayPal app to additional checks.
- Cash Loads; you can scan the barcode from the PayPal app or swipe your PayPal Cash Card to add cash to your balance at one of over 100,000 locations nationwide.
- Bank Transfer; you can also transfer funds from your bank account directly to your balance.
- PayPal’s Goals feature; you can easily organize your money by creating and customizing as many goals as you want at no cost. This will help you to set aside money and stay prepared for upcoming expenses, you can just move it to your balance in order to spend it.
Paypal cash service fees
Although, there’s no cost to apply for the PayPal Cash Card. Paypal is straight forward with other fees.
$2.50 for all ATM Domestic & International Withdrawal Fee at any non-MoneyPass ATMs
$3.00 for over the Counter Withdrawal Fee
2.5% charged for Foreign Transaction Fee
$4.95 for Cash Reload Service Fee
$0 charged, if users choose to get their money in 10 days. To cash a Check Fee For Money in few Minutes, 1% fee is charged on payroll or government checks with preprinted signatures, then 5% fee on other checks, with a $5 minimum fee per check.
$0 on PayPal Cash Card purchase price
$0 on Annual or monthly fees with the PayPal Cash Card
$0 Cash access at more than 25,000 MoneyPass ATMs nationwide
Pros of Paypal cash Mastercard
- Funds in PayPal cash plus account are easy to access anytime at any eligible location, users can easily their cards at more than 100,000 retailers from their PayPal accounts or through a linked bank account. Paypal cash MasterCard allows quick money transfer, users can send money anywhere from your computer or phone with only your recipient’s email address.
- Paypal cash MasterCard is minimal, there is no annual or monthly fees, minimum balance charges and no initial balance requirements
- There are no withdrawal fees at MoneyPass ATMs, you can access your account or withdraw at more than 25,000 MoneyPass ATMs for free.
- There is no credit check, Paypal cash MasterCard is not a debit card there’s no reason to check your creditworthiness before approval.
- Users are protected against unauthorized payments from their account with Zero Liability Protection, and many online purchases are covered by PayPal Purchase Protection.
- It offers Automatic Top-Up service from your linked bank account in a situation whereby there is insufficient balance, it is done base on Authorization.
Cons of Paypal cash Mastercard
It is no doubt that PayPal cash MasterCard has a lot of benefits and its so flexible in accessing funds, users are still facing some challenges which serve as a disadvantage to the product and its service;
Paypal cash Mastercard requires a Cash Plus account
Withdrawals at non-MoneyPass ATMs have a $2.50 fee plus any fees charged by that ATM’s bank, cash withdrawals using teller cost $3.00.
Withdrawal fees; standard daily limit of $400.00 for ATM withdrawals and cash-like withdrawals, and a standard $3,000.00 daily limit for purchases.Although, these limitations are subject to change base on periodic review.
Up to $1,500 a day and $5,000 a month at participating retailers is the reload meeting.
Up to 2.5% is charged on all foreign transaction at retailers and ATMs, even if the transaction does not require a currency conversion.