Reviews
Trusted & Secure
Empowering over
50,000,000 card holders
Since 2005
- Regular Purchase APR N/A
- Intro Purchase APR N/A
- Intro BT APR N/A
- Annual Fee Plan fee is $4.95 monthly.
- Credit Needed Limited / Poor
- Card Brand Mastercard®
- Regular Purchase APR N/A
- Intro Purchase APR N/A
- Intro BT APR N/A
- Annual Fee Plan fee is $4.95 monthly.
- Credit Needed Limited / Poor
- Card Brand Mastercard®
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.
Card Fees
4%
N/A
N/A
Ongoing Information
Take advantage of PayPal cash back rewards and earn on qualifying purchases from select merchants.
Plan fee is $4.95 monthly.
Expert Reviews
From the CompareCards.com Editorial Team, updated on Aug 20, 2024
If you’re a regular PayPal user looking for a prepaid card to use for purchases, then the PayPal Prepaid Mastercard® could be a good fit. You must have a PayPal account to access the card’s online services, and you can easily load PayPal funds to the card. The card can be used anywhere Mastercard debit is accepted.
There is a monthly fee of $4.95, but cardholders can benefit from special offers and Payback Rewards when using the card for purchases at qualifying stores, if they opt in to the rewards program. In addition, cardholders have the option to open a high-yield savings account through The Bancorp Bank.
Other options for loading funds onto the card include direct deposit or a cash reload through the more than 130,000 NetSpend Reload Network locations nationwide (for up to a $3.95 fee for each NetSpend reload).
Expert Reviews of the PayPal Prepaid Mastercard®
The Bottom Line
If PayPal is your go-to money source, then having a prepaid card with which to use those funds for cash or card purchases could come in handy. Plus, one of the biggest perks of the PayPal Prepaid Mastercard® is the ability to link it to a high-yield savings account (up to a 4.91% interest rate). However, due to the card’s numerous fees, you may find that the cost outweighs the convenience. While you may be able to avoid some of the fees, you will still be charged the monthly fee of $4.95.
The Good
The PayPal Prepaid Mastercard® is free to open as long as you have a PayPal account and any transfers made to the card from your PayPal accounts are free. The card can be used anywhere Mastercard or PULSE cards are accepted. If you opt to have your paycheck direct-deposited to the PayPal Prepaid Mastercard, those funds may be accessible up to two days faster than if deposited to a regular bank. Cardholders can also receive a free second card for a friend or family member. The purchase and ATM withdrawal limits are generous: $5,000 for purchases and a daily ATM withdrawal limit of $940. Another benefit is the card’s Refer-A-Friend program, where a $20 credit is granted to both cardholders once the referral cardholder verifies their identity and loads a minimum of $40 to their account.
The Not so Good
This is a prepaid card that won’t help build your credit score and, like many prepaid cards, assesses a variety of fees. For example, you’ll be charged a $4.95 monthly fee, along with a $1.95 ATM withdrawal fee (plus any ATM operator fees), a $2.50 bank withdrawal fee and a $1 fee for ATM transactions that are declined. There is also a daily limit of $300 on PayPal transfers and a $3.95 cash loading fee at NetSpend Reload Network locations.
Editorial Note: This content is not provided by NetSpend. Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by NetSpend.
Consumer Reviews
OFFER RATING
/5.0
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