- Apply, activate or access a PayPal prepaid MasterCard account online
- The card can be used at most retail stores, online, and everywhere Debit MasterCard is accepted
- Visit www.paypal.com/prepaid
The Bancorp Bank issues the PayPal Prepaid MasterCard, and it should be noted that residents in the state of Vermont are not allowed to obtain an account. When ordering a card online, the cardholder will not be charged a purchase fee, BUT a $4.95 monthly fee will be charged for unlimited purchase transactions.
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- Cards will be mailed the next business day after sign up
- The PayPal Prepaid MasterCard can be used to make payments via a smartphone
- Offers a “no-cost direct deposit” that allows a cardholder to receive money up to 2 days faster (vs traditional banks)
- Money can be transferred from the member’s PayPal Account to the card and vice versa
- Add money to the card via a NetSpend Reload Network (over 100,000 locations across the US)
- The PayPal Prepaid MasterCard allows for tax refunds to be deposited in the account
- The PayPal Prepaid mobile app is only available on iPhone and Android Operating Systems at this time
- Faster access to funds is based on a comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically
- Transfers are limited to $300 a day for security purposes and cannot be reversed or canceled once set in motion
The PayPal Prepaid card offers an option savings account program through the Bancorp Bank, which is a Member of FDIC. The savings account program is ideal for members who keep a large amount of money in their PayPal accounts and would like to earn interest on this money. Members will earn a 4% to 5% yield on all savings up to $5,000.00 (anything over $5000 will earn 0.49%.
Any questions about the PayPal Prepaid MasterCard can be directed to 1-866-753-6440 or by mail at PayPal Prepaid Card PO Box 2136, Austin, TX.