Skip to content
× FreshBooks App Logo
FreshBooks
Official App
Free - Google Play
Get it
You're currently on our US site. Select your regional site here:
4 Min. Read

What Is PayPal Cash Card?

What Is PayPal Cash Card?

PayPal is a popular method of fast and effective online transfers. It's also quickly replacing paper-based methods such as checks and money orders. But despite the popularity of PayPal, many people prefer using credit and debit cards.

If you find yourself in that camp, you’ll be pleased to learn that PayPal offers branded credit and debit card options. Even better, you can benefit from using a PayPal Cash MasterCard.

In this guide, we’re taking a closer look at PayPal’s Cash Card. Here, you’ll learn about its advantages, fees and cost. Is this the right card for you? Read on to find out.

Here’s What We’ll Cover:

Fees and Limits

PayPal Cash Card Overview

How to Apply

Key Takeaways

Fees and Limits

First, let’s take a look at the fees and restrictions to consider when choosing a PayPal Cash Card.

Charge type

PayPal Fee

Opening fee

Free to open an account and get a card

Maintenance fees

No ongoing charges

Cash at ATMs

Free to use domestically. MoneyPass ATMs charge $2.50 per withdrawal at other domestic ATMs

Over the counter withdrawals

$3

Reload fees

$3.95 to $4.95 to load cash on the PayPal Cash Card. It’s free to reload via bank transfer or direct deposit. Also free when receiving money from friends and family through PayPal. There is a 1% fee to cash payroll and government checks with a printed signature using an expedited process ($5 minimum. There’s also a 5% fee to reload other accepted checks using the expedited process ($5 minimum). Free if you choose the clearance process of 10 business days.

Minimum balance charges

No minimum balance

PayPal Cash Card Overview

The PayPal Cash Card is a prepaid card, which means you need to recharge your linked account before you can spend it. After depositing money into your card, you can use it like any other credit or debit card.

You can make online purchases, in app stores, or in physical stores. You can also use it to withdraw money at an ATM. One of the best parts about the PayPal Cash Card is that its pricing is completely transparent. Like FreshBooks Payments, there are never any hidden fees.

You know exactly what you’re paying upfront, every time. This in itself is enough reason for some people to use PayPal and services like FreshBooks.

Reloading Money

You will be able to use bank transfer or direct debit to recharge online. You can also let friends or family members send you money, or recharge cash at selected retail locations. It is worth noting that using cash to reload will incur relatively high costs.

Sending and Receiving

You can use your PayPal Cash Card account to receive and transfer money from all over the world. You can send money to friends and family who are also in the United States for free. However, the cost of foreign transaction fees is relatively high. There is a lot of helpful information about PayPal’s international fees.

Linking

Your PayPal Cash Card has been linked to your PayPal Cash Plus account. When you set up your Cash Plus account, you will have the opportunity to connect the bank account and card of your choice to make it easier to transfer payments from one to the other.

Safety

PayPal payment cards are backed by FDIC insurance on the MasterCard network. The FDIC serves to protect your funds in the (unlikely) event of PayPal’s bankruptcy or management problems. Your card is also protected by the MasterCard Zero Liability Policy, which provides further protection if your card is lost or stolen.

How to Apply

You can get your PayPal Cash Card online. If you already happen to have a PayPal account, you simply need to confirm that the personal data on file is still correct.

Also, you must first have a PayPal Cash Plus account. These accounts are for users in the United States. There is no credit check, so you don’t have to worry about your credit score. You only need to confirm some personal information when applying.

When applying for the PayPal Cash Card, the system will prompt you to open this account if you don’t already have one.

Key Takeaways

With so many payment options available these days, it can be tough knowing which one to go with. Thankfully, the PayPal Cash Card offers transparent fees and reasonable rates. You never have to worry about hidden fees and PayPal is accepted in a wide range of online and physical locations.

Read more articles like this on our resource hub.


RELATED ARTICLES