I received my first PayPal Debit Card back in February of 2008. It had proven itself useful lots of times already and I’m very glad that I applied for one. My only regret is that I should’ve applied for it earlier.
A few weeks back, I received an email from PayPal informing me that they will mail me a new card because the one I have was going to expire this month – January 2010. Last week, I got the new card in the mail last week and just in time before my old card expired. First thing I did was to activate it and create a 4-digit PIN number.
Previously, the PayPal Debit Card had the name “Premier BusinessCard” on it but the one I just got doesn’t have it but instead has “Business Debit“. Also, the new PayPal Debit Card also has a new design. Check out the photo I took of the old and new debit cards side-by-side.
[Card numbers blurred out for security purposes]
Aside from those changes, the new PayPal Debit Card works exactly the same as the old one.
- PayPal user for at least 60 days
- Should have Premier or Business account
- Should register credit card with PayPal account
- Account must be linked to bank account in order to be verified
- Earn 1% cash back everytime you make a purchase (you have to be enrolled in the PayPal Preferred Rewards Program).
- 100% protection against unauthorized charges (fraud and theft)
- No annual fees
The PayPal Debit Card lets you withdraw money from any ATM and make debit purchases with your PIN number. You can also provide a backup funding source and as a security measure, there is a daily limit of $3,000.00 USD spending limit and a $400.00 USD ATM limit.
Its been almost two years now since I blogged about my first PayPal Debit Card and its unfortunate that PayPal account holders in the Philippines and other countries outside the United States still can’t have one. I don’t know if PayPal has any plans of changing that or how long it will take before they make it available in areas outside the US.
If you’re a PayPal account holder in the US and still don’t have a PayPal Debit Card, I strongly suggest that you apply for one. It gives you more purchasing options with your PayPal account, you can earn cash back and there are no annual fees so you have nothing to lose.
Click here to apply for a PayPal Debit Card or to learn more about it.