PAYPAL MASTERCARD: PREPAID vs. CASH DEBIT CARDS

The PayPal Cash MasterCard lets you easily access the cash in your balance to shop online and in-stores everywhere Mastercard is accepted, withdraw or transfer cash at ATMs worldwide at no cost. Over 33,000 MoneyPass point accepts the PayPal cash MasterCard, you can use your card to load cash at over 100,000 retailers including Walmart, CVS and 7-Eleven. Paypal users must tie their cards to their PayPal cash plus account to use this card and enjoy its benefits. The PayPal Cash Card is not a credit card, a credit check is not required, no minimum balance, and it requires no monthly fee.


Pros of PayPal Cash
Access funds directly from your PayPal balance to make all your purchases
Direct deposit to fund your PayPal balance at no extra cost
Free cash withdrawals at over MoneyPass locations
Cons of PayPal Cash MasterCard
$2.50 for International and domestic transactions at a non-Moneypass ATMs, ATM operator fees may also apply.
You will not receive any interest on the funds in your PayPal Cash Plus account.
Up to $4.95 cash reload service fee, to add cash into your PayPal Cash Plus account

Brief description of PayPal Prepaid Mastercard

The PayPal Prepaid MasterCard is like all prepaid debit cards, enables you to load funds onto the card before using it and then spend the money you’ve loaded. The PayPal Prepaid Mastercard does not pull funds directly from your PayPal account, you can simply transfer from your PayPal Cash Plus account balance to your PayPal Prepaid Card although you need to link your PayPal Cash Plus account for full access to PayPal Prepaid Card features. You can also add money to your card at over 130,000 Netspend Reload Network locations. Money loaded on the card are held in FDIC-insured account with Bancorp Bank, and it is important to note that there are monthly charges of $4.95.
Pros of PayPal Prepaid Mastercard
Faster access to deposits, you can Speed up your deposits directly to your PayPal Prepaid Mastercard. Direct deposits through PayPal is faster than what traditional banks offer. You can deposit checks or a particular payments into your PayPal prepaid MasterCard account without a fee.
PayPal Prepaid Mastercard is free to buy online, you can avoid the fee of $4.95 by getting it online.
Earn up to $5 reward by referring your friend
Provision for easy reloading, More than 130,000 NetSpend Reload Network stations are available for easy reloading
You can track your spending with PayPal. They sends you alerts, either via text or email, whenever you make payments with your prepaid card. balance inquiries via customer service, PayPal website or text message is also free.
PayPal Prepaid Mastercard helps users to budget your money more effectively. Uses are entitled to a tiered savings account that can help put away some funds for emergency purposes.
Transfers from a PayPal balance is free of charge
Up to 5.00% APY on the first $1,000 of the total balance.
Cash back at retail checkouts, Cash back offer is based on your spending habits.
Cons of PayPal prepaid MasterCard
PayPal prepaid MasterCard is known for its varieties of charges;

  • Up to $4.95 inevitable monthly fee
  • OTC withdrawal fees of up to $4.00
    *$5.95. For replacement of lost card
    *$1.95 fee per ATM withdrawal, ATM operator fee may apply.
    You must open PayPal account, without linking the card to PayPal account you cannot access online services.

Also read https://techyrevs.com/paypal-cash-mastercard-review/