Re: Paypal prepaid mastercard, how does it work?
With the prepaid card, your funds are not directly debited from your PP balance when you use the card (which is what the Paypal Business Debit Mastercard does - treating your PP account like a checking account). The Paypal Prepaid card works like many other prepaid debit cards, where you can load cash to it at retail locations, etc. The thing that it has that is different is its connection with Paypal.
When you activate the Paypal Prepaid card, you also connect it to your Paypal account. This makes is such that you can load funds to the card from your Paypal account balance instantly. You can only load $300 per day and $2000 total per 30 days from Paypal to the card. See the fine print below:
2 Money transfers may only be made in the name of a valid PayPal Prepaid Cardholder and your PayPal Prepaid Card must be activated and linked with your PayPal Account at paypal.com. Only one (1) PayPal Prepaid MasterCard may be linked to one (1) PayPal Account. If a member of your household has another PayPal Prepaid MasterCard, another PayPal Account in that person's name is needed. Transfers from the PayPal Account to the PayPal Prepaid Card are limited to the amount of funds available in your PayPal Account and may not exceed $300 a day/$2,000 per rolling 30 days. Overdrafts are not available. Money cannot be moved directly from individual funding sources like credit or debit cards, bank accounts, etc., attached to the PayPal Account to the PayPal Prepaid MasterCard Account. Money transfers from the PayPal Account to your PayPal Prepaid MasterCard cannot be reversed or cancelled. The PayPal Prepaid MasterCard is issued by The Bancorp Bank pursuant to license by MasterCard International Incorporated and may be used everywhere Debit MasterCard is accepted. The Bancorp Bank, Member FDIC. Please review the Cardholder Agreement for more details about the costs, terms, and conditions associated with use of the Card.
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