Review of the Paypal Prepaid MasterCard 2022

When it comes to prepaid cards, the PayPal prepaid Mastercard is a good choice, but it’s useless if you don’t have (or don’t want to have) a PayPal account. You can link your prepaid card to your PayPal account if you don’t already have one.

If you have a PayPal account, you may benefit from the ease of free money transfers to a PayPal card, as well as reduced costs than with other prepaid cards. It’s worth noting, though, that there’s no way to escape the $4.95 monthly cost or the $1.95 ATM withdrawal fee. Free direct deposits, free mobile check deposits, and a linked savings account with a 5.00 percent APY on your first $1,000 in savings (but just 0.50 percent APY on balances beyond $1000) are just a few of the additional perks.

PayPal MasterCard Prepaid Features

When you have a personal or PayPal account, a PayPal Prepaid MasterCard is the ideal option. While you may buy a card without a PayPal account, you won’t have access to all of the features, such as online account management tools. You’ll want to take use of these features, particularly the ones that allow you to analyze transactions, pay bills, and check your balance.

Without a PayPal account, you will lose features or have to pay for them. For example, checking your balance online is free, but it costs $0.50 at an ATM. This may not sound like much, but if you check your balance often, this fee will increase. It is the cheapest and most convenient to load money through your PayPal account, where you can add money to the card instantly and at no cost.

• Direct Deposit: There are no fees for direct deposits to the card. And you may receive your money when you start direct deposit

• Insurance from FDIC: Bancorp Bank will keep your PayPal prepaid Mastercard money
• Your, which is insured by the Federal Deposit Insurance Corporation (FDIC). You are compensated up to $250,000 in the event of a Bancorp Bank failure (although the terms of the PayPal Prepaid Mastercard limit you to not deposit more than $15,000 into the card).
• No credit check: You will not be subject to a credit check. However, you will need to provide your name, address, social security number and other personal details to verify your identity and activate the card
• Cashback Rewards: Cardholders are eligible for certain cashback reward offers when shopping with PayPal prepaid cards. You can find out more about these promotions and their terms in your online account portal.

Comprehensive PayPal MasterCard Prepaid Review

The PayPal Prepaid MasterCard offers a solid choice of basic banking features such as depositing and withdrawing funds. A savings account that earns interest and cashback rewards are good ways to increase your balances as well.

Because of the fees associated with the card, it is not a long-term alternative to traditional banking. The $15,000 fund cap is also a disadvantage, especially if your paycheck is deposited directly. PayPal Prepaid MasterCard can act as a good temporary solution for making purchases and paying bills, convenient for transferring money. However, in the end, you will want to find a prepaid card with lower fees and richer features or open a traditional bank account.