Make Money With the PayPal Debit Card

Using a debit card with PayPal is an easy way to access money in your account and it also comes with great benefits. The process to obtain a card through PayPal is simple, and through your account and certain purchases, you can earn cash back through PayPal's Preferred Rewards Program. The debit card is also widely accepted online, in store, and at ATMs. Keep in mind that the debit card can only be gained through business accounts or a premier account.

Steps

Getting a Card

  1. Create an account. The first step to gaining a debit card through PayPal is to create an account if you don't already have one. This can be done easily by accessing their website. Once you are on their home page, you should see a "Sign Up" button in the top right of your page. Click on it.
  2. Choose between the accounts. Once you have clicked to sign up, you will need to choose between the "personal account" and the "business account." In order to obtain a PayPal debit card you will need to create a business account.[1]
    • If you already have an account you can upgrade to a business account, or open a separate PayPal account. You will need to be operating under a business to do this, however. You can also upgrade your account to a premiere account, which you can do through a personal account.[2]
  3. Create a username. At this point, you've chosen the type of account you want to use, and now you'll need to enter you email and a minimum eight character password. You will use this information anytime you log onto your PayPal account, so choose a secure password that you won't forget!
  4. Enter your personal information. After you've created a username, you will then be brought to a page that allows you to enter your personal information. Once you have filled everything out, be sure to read the User Agreement, Privacy Policy, and the Electronic Communications Delivery Policy. Then, click agree and create your account!
  5. Link your debit or your bank account. Once you have created your account, you can link your banking information so that PayPal has access to your funds when you need to send or pay money to someone.[3]
    • Linking your bank account in this step is important, because the Debit MasterCard though PayPal uses funds in your PayPal account, and if that balance is zero, it will need another outlet to retrieve funds from.
  6. Apply for your card through your business account. In the top of your account home page you should see a tab that says "Product & Services." Click on this tab and apply for a debit card via the "PayPal Debit Card" link. Once you have filled out the application and been approved, your card will be shipped to your address in the mail.
  7. Apply for your card through your personal account. In order to get a Debit MasterCard through PayPal, you'll need to upgrade your personal account to premiere. You won't have access to the "Product & Services" tab in your personal account, so the easiest thing to do is a quick internet search for "PayPal Debit MasterCard."
    • You should be able to click on one of the first links and it will lead you to a PayPal page with information about the card and a link that says "Get a Card Today." You can click on that link and it will lead you to a page asking if your information is correct and then stating that you will need to agree to upgrade to a Premiere account. Once you have done this, you should be able to get a card.[4]

Setting Up Your Card

  1. Activate your card. After your card comes in the mail, log onto your PayPal account. Click the Business Profile icon next to "Log Out" and select "Profile & Settings." Click "My money" and then "Update" next to "PayPal Business Debit MasterCard." Finally, select the card to activate, enter in the information required, and click "Activate Debit Card."[5]
  2. Fund your account. One of the first steps you will need to take once you have received your card is putting money in your PayPal account. You can do this by clicking the "Add Money" option under your PayPal balance on your main account page.
    • Once you have clicked this tab you will need to confirm your identity, and then PayPal will lead you to a page in which you can use your bank account information and enter in the amount of money you would like to be placed in your PayPal account. There will be no fees associated with this.[6]
  3. Set up Instant Transfer. This step is in place of or can be used alongside the previous step. Instant Transfer allows you to use a backup method to send money via PayPal. To set up Instant Transfer, you will need to link a bank account or a credit card to your PayPal account and change your backup method in your summary to the account you would like to use.[7]
    • The purpose of this is because your bank may decline a transfer you wish to make to your PayPal account. With Instant Transfer, PayPal will still be able to make the money transaction but will be doing so directly from your bank or through a debit or credit card you have attached.

Earning Cash Back

  1. Enroll your card. Enrolling your card in Cash Back is what will actually allow you to earn cash back when using your debit card. Log into your PayPal account and on your home page go to "Profile and Settings." Click "My money" and then "Update" beside your "PayPal Business Debit MasterCard." Then click "Enroll."[8]
  2. Begin making purchases. Once you have activated and enrolled your card, you can now use it virtually anywhere Debit MasterCard is accepted to make purchases. The more purchases you make the more cash back you will receive.
    • If you go 12 consecutive months without using your debit card, you will be automatically removed from the Cash Back Program.[9]
  3. Earn cash back. With the Debit MasterCard you can earn 1% cash back on most purchases made online, over the phone, or that require a signature. You must use your card as credit to earn cash back, so if given the option between credit and debit, always choose credit. You cannot earn cash back from purchases made with your pin.[10]
    • Merchants may process your transaction through debit, but not require a pin. This still does not qualify as cash back, so always make sure you are running your card as a credit card.[9]
    • Cash back will be rewarded at the end of every month on your net amount of eligible purchases that month. You will not earn cash back on any refunds or returns you make.
  4. Be aware of fees. When using your debit card, there are occasional fees, but keep in mind that most banks apply these fees to their cards as well.[9]
    • US ATM withdrawal: $1.50 per ATM withdrawal along with amount charged by ATM owner
    • Signature withdrawal: $3 anytime a signature is required to withdraw cash
    • Non-US ATM withdrawal: $1.50 per non-US ATM, even without currency conversion
    • Foreign Transaction Fee: %1 per purchase from a non-US market, even without currency conversion

Related Articles

Sources and Citations

  1. ↑ https://www.paypal.com/us/signup/account
  2. ↑ https://www.paypal.com/us/webapps/helpcenter/helphub/article/?solutionId=FAQ900
  3. ↑ https://www.paypal.com/us/webapps/helpcenter/helphub/article/?solutionId=FAQ1218&topicID=&m=ARA
  4. ↑ https://www.paypal.com/webapps/mpp/debit-card
  5. ↑ https://www.paypal.com/us/webapps/helpcenter/helphub/article/?solutionId=FAQ2001&topicID=&m=ARA
  6. ↑ https://www.paypal.com/us/webapps/helpcenter/helphub/article/?solutionId=FAQ1348&topicID=&m=ARA
  7. ↑ https://www.paypal.com/bs/webapps/helpcenter/helphub/article/?solutionId=FAQ1708&topicID=&m=ARA
  8. ↑ https://www.paypal.com/us/webapps/helpcenter/helphub/article/?solutionId=FAQ1827&topicID=&m=ARA
  9. ↑ 9.0 9.1 9.2 https://www.paypal.com/us/webapps/mpp/ua/debitcard-full
  10. ↑ https://www.paypal.com/webapps/mpp/debit-card
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