PayPal Debit Card
I recently applied for a PayPal Debit Card and received it in the mail the other day. The PayPal debit card or PayPal Premier BusinessCard is totally different from the PayPal Plus credit card. It doesn’t give you access to any credit but it does give you fast and easy access to your PayPal account. You can use it at ATMs anywhere in the world or anywhere MasterCard is accepted.
- 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
You can use the PayPal Debit Card like a normal debit card issued by your bank. It lets you withdraw money from ATMs ($1 per withdrawal fee) and make debit purchases with a PIN. When you use your PayPal Debit Card, your PayPal account funds or balance are used first. As an option, you can provide a backup funding source for your debit card in case you need to purchase something that costs more than your available funds. As a security measure, the debit card has a daily limit of $3,000.00 USD spending limit and a $400.00 USD ATM limit.
Previously, I was only able to use my PayPal account online with sites that accept PayPal. Now that I have my PayPal Debit Card, I can purchase or make payments online using my PayPal account even if the site doesn’t accept PayPal. Aside from that, I can also use it offline to buy other stuff. I’m not sure though if this is available to PayPal account holders outside the US. Maybe I should ask my friend James of PinoyMoneyTalk.
The PayPal Debit Card would be very useful especially for account holders in the Philippines because from what I’ve heard, they’re having a hard time accessing and withdrawing their funds from local banks where it could take up to a week before the money is released. If not, then I hope they’d also make it available in other countries like the Philippines where there are a lot of PayPal account holders.
Anyone else have the PayPal Debit Card? How’s your experience using it? Did you encounter any problems? If you’re not from the US, do you know if this is available in your country? If you had a PayPal Debit Card, what you use it for? Please share your thoughts.
Click here to apply for a PayPal Debit Card or to learn more about it.