Paypal recently released a new Debit Card coined the Cash MasterCard Debit Card. The cards motive is for you to be able to draw money in your Paypal account with no monthly fees, annual fees, maintenance requirements attached. Funds can be added with either direct deposit, cash loads, bank transfers, or P2P. With the PayPal Cash Card, you can use your PayPal balance to shop everywhere Mastercard is accepted. Shop and pay with ease and get cash access at more than 25,000 MoneyPass® ATMs nationwide at no cost.
PayPal Cash MasterCard Debit Summary:
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- Account Type: Paypal MasterCard Debit Card
- Availability: Nationwide.
- Credit Inquiry: None.
- Opening Deposit: None.
- Credit Card Funding: N/A
- Direct Deposit Requirement: None.
- Monthly Fee: None
- Additional Requirements: None.
- Closing Account Fee: None.
PayPal Business Debit Card Features:
- With the PayPal Cash Card, you can use your PayPal balance to shop everywhere Mastercard is accepted.
- Get cash access at more than 25,000 MoneyPass® ATMs nationwide at no cost.
- All with no monthly or annual fees, and no minimum balance required.
Final Analysis:
The Cash MasterCard Debit Card is a new card on the ever-rolling line-up from PayPal. There’s nothing too out of the ordinary with this card and with no rewards structure; If you already have a PayPal Business Debit Card, there’s realistically no point of grabbing the Cash MasterCard. Some heed of advice, Paypal limited my Business Debit Card last fall over violations with high volume P2P transfers. Don’t forget to check out our full list of Credit Card Bonuses if you’re not interested at the moment.
I applied for this and was very unhappy to see that there ARE fees.
A small piece of paper came with the card that says ” Common fees associated with the Paypal Prepaid Mastercard”
Monthly fee $4.95
ATM withdrawal $1.95
cash reload $3.95
Since it is PREPAID, I or someone else has already paid a fee for depositing this in Paypal. We must now pay for the using it!