![]() Savings Account: The PayPal Prepaid Mastercard offers a high interest-bearing savings account. Users who don’t connect their card to a PayPal account can’t access the online portal or mobile app to check their balance or transactions and aren’t eligible to earn cashback rewards. It is important to note that having a PayPal account is crucial to getting the full use of this card. The PayPal Prepaid Mastercard includes the main features of most prepaid cards, such as free direct deposit and bill pay, but it also offers some unique features such as its connection to PayPal and Refer-A-Friend program.Ĭonnect to PayPal Account: You can connect the card to a PayPal account for instant money transfers to and from PayPal. You can get cash at virtually any ATM, but ATM withdrawals come with a fee of $1.95. For check deposits to be instantly available, the fee is 1% for government checks and 4% for all others. The card also offers free mobile check deposit, but processing takes 10-days. You can load your PayPal card for free via direct deposit or PayPal account transfer. But it’s not possible with the PayPal prepaid card. However, with some prepaid cards, there are ways to waive this fee. That’s about the average for prepaid cards. The card has a $4.95 monthly maintenance fee. The PayPal prepaid card, similar to other prepaid cards managed by Netspend, offers a high-interest savings account with a promotional rate of 5.00% APY on deposits up to $1,000. It offers instant transfers to and from a PayPal account, essential for PayPal users who don’t have a checking account. The PayPal Prepaid Mastercard is available on the Mastercard network and is widely accepted anywhere Mastercard debit cards are accepted. But many of the features are available only to PayPal users. It also offers useful features like a high-interest savings account, cashback bonuses, and mobile check deposit. ![]() The PayPal Prepaid Mastercard, issued by The Bancorp Bank and managed by Netspend, allows for free instant cash transfers from PayPal to the prepaid card. 10 Ways to Add Cash to Your Prepaid Card. ![]()
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