The PayPal Prepaid MasterCard has many benefits and a few disadvantages. It is not difficult to obtain. You do, however, need to set up a PayPal account. This can be done by supplying an email address and filling out basic information. After the account is set up, you can then request the card.
The PayPal Prepaid MasterCard behaves like a debit card. Purchases are deducted from the card in the same fashion money would be deducted from the balance of a bank account. This card features the MasterCard logo so that it is accepted in places that take MasterCard, but the money is deducted in real time as it would be from a bank account.
The card, itself, looks like any other credit or debit card; however, the “PayPal” insignia is evident across the upper portion of the card. There is an 800 number on the back that you can call to find out the balance, and customer service is always available should there be any questions.
The PayPal MasterCard provides an alternative option to a bank account. Despite “PayPal” written on the front, the card looks and behaves just like a debit card. Money can be withdrawn from the card from any supermarket or bank ATM. While using the card at the supermarket or any other store, fees aren’t charged for withdrawing money; however, if money is withdrawn through an ATM, a fee is usually charged for the withdrawal.
The PayPal MasterCard is accepted as a credit card in most places. Wherever MasterCard is accepted, use of this card is possible. This makes the card’s usage a smart option. It can be used at the gas pump, in most stores, for online purchases and other places that accept MasterCard as payment.
Money is usable immediately as it is deposited. Money can be received from others if they have a PayPal account. There are several people that work from home using the Internet and get paid directly into their PayPal account. PayPal has become one of the preferred methods to receive payment for goods or services. There is no downtime in being able to use money that has been placed into a PayPal account. Once funds are deposited into the PayPal account, the PayPal MasterCard can be used immediately.
Disputing purchases can take time. It’s necessary to have to call in at times to dispute a charge. Depending upon the purchase, the vendor has to be contacted to reverse the charge. Other times, a link below the charge on PayPal’s website leads to another area on the website to dispute the charge. It can take up to five days to reverse a charge effectively. However, customer service responds quickly and addresses the issue by responding promptly to inquiries.
The PayPal MasterCard does not have a routing or account number so that another bank account cannot transfer money directly to the account. It can be linked to a bank account to transfer money, but it cannot receive money from a third party account in the same manner. Also, money cannot be deposited into a PayPal account for a tax refund.
In the event a PayPal MasterCard is lost, it can take several weeks to receive a replacement. If a person is relying solely on their PayPal account to use for purchases, bills and other monetary needs, a person could struggle before receiving the replacement.
Since PayPal MasterCard can be used in place of credit and debit cards, it makes it easy to use your PayPal balance to pay for purchases made at brick and mortar stores. If you don’t have a traditional bank account, the PayPal MasterCard linked with a PayPal account gives you a way to receive payments (such as from your eBay sales) and have instant access to that money besides just being able to use it for online purchases. Overall, the card is very useful, especially if another credit card or debit card is not available.