Erin Benson
December 1, 2023
• 3 Minute Read
PayPal is a financial technology company that operates an online payments system. PayPal is not new to the industry, in fact they have been around for 20+ years. PayPal gives users the ability to make financial transactions by allowing a transfer of funds electronically between a business and the individual. With PayPal you can send or receive payments online for a variety of goods and services.
Link, Transfer, & Pay
PayPal teamed up with Mastercard® to offer a prepaid card to consumers. The PayPal Prepaid Mastercard® is a prepaid card that can be linked to your PayPal account. If you are an avid PayPal user, this is a great option for you. Once you link your card you can transfer money from your PayPal account to your card, use PayPal’s online bill pay service, and lets you view the cards balance and transaction history.
Here are some of the card features:
- Direct Deposit
- PayPal Transfers
- Mobile App
- Payback Rewards
- Reload Locations
- Savings Account
Making the Most of PayPal's Prepaid Mastercard® Rewards
The card itself can be used anywhere Debit Mastercard® is accepted. You can receive special offers and Payback Rewards* when you shop at qualifying stores. There is also a monthly fee of $4.95 that you will want to use to compare with other prepaid cards. However, if you opt into the rewards program you can benefit from special offers and rewards when using the card to make up for that monthly fee. Cardholders are also given the option to open a high-yield savings account through The Bancorp Bank. NetSpend has more than 130,000 Reload Network locations nationwide where you are able to go to load funds onto your card.
- Credit Recommended:
- Not applicable
- Brand Name
- Mastercard
- Credit Recommended
- Not applicable
- Credit Check
- Not applicable
- Late Payment Fee
- Not applicable
Highlights
- Move money from your PayPal account to fund your prepaid card account.
- Earn cash back and personalized offers, just for using your card.
- With Direct Deposit, you can get paid faster than a paper check.
- Card issued by The Bancorp Bank, Member FDIC. Card may be used everywhere Debit Mastercard is accepted.
- Click PayPal Prepaid Mastercard® for additional features & program details, and to request a Card.
Quick Card Recap:
- Move money from your PayPal account to fund your prepaid card account.
- Earn cash back and personalized offers, just for using your card.
- With Direct Deposit, you can get paid faster than a paper check.
- Card issued by The Bancorp Bank, Member FDIC. Card may be used everywhere Debit Mastercard® is accepted.
- Click PayPal Prepaid Mastercard® for additional features & program details, and to request a Card.
A Great Fit For Your Shopping Habits
If you are looking for a card to build up your credit, you will want to look elsewhere as prepaid cards won’t help with that. Keep an eye on that monthly fee along with ATM withdrawal fees. Overall, this card is a great fit if you tend to use PayPal for a good portion of your purchases.
*Payback Rewards is an optional program. You may opt-out at any time by visiting the Payback Rewards page in your Online Account Center. Reward offers are based on individual shopping habits. Cash back rewards are credited to your Card Account and are not available in the form of a check or other direct payment method. See the program FAQs and Terms and Conditions in your Online Account Center for additional details about how and when you get rewarded. Program sponsor: Netspend Corporation. The Bancorp Bank and Mastercard are not affiliated in any way with this program and do not endorse or sponsor this program.
Editorial Disclaimer: Information in these articles is brought to you by CreditSoup. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles. The information is accurate to the best of our knowledge when posted; however, all credit card information is presented without warranty. Please check the issuer’s website for the most current information.