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Cash Debit Cards and Acorns

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Contributor

Cash Debit Cards and Acorns

Hello everyone!

 

I just wanted to know if it's a mandatory fee to pay for Acorns. ($1 monthly) I don't mind the one dollar a month thing just curious. Acorns doesn't sound anything I'm interested in right now. 

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Advisor

Re: Cash Debit Cards and Acorns

@gimmeu

 

No, it's not mandatory. There is no charge if you don't use it. There is also no charge if you open an Acorns account, but do not fund it. If in the future you change your mind, you can set it up.

 

Acorns will be offering a checking account and debit card, combined with the investment account and a retirement account. This would offer the ability to transfer funds back and forth from PayPal to the investment account and the checking account. The fee will be $3.00 a month.

 

I believe you're referring to the My Cash card, that product has been discontinued and replaced with PayPal Cash loading. You can find the PayPal Prepaid cards in stores, but these are only temporary cards with limited functions.

 

There is the PayPal Cash debit card. This card is directly linked to your available PayPal Balance. The card is no cost and there are no monthly fees.

 

https://www.paypal.com/us/webapps/mpp/cash-card

 

If you need to get funds into your PayPal account, you can use PayPal Cash at a retailer.

 

https://www.paypal.com/us/webapps/mpp/ppcash

 

https://www.paypal.com/us/smarthelp/article/what-is-paypal-cash®-and-how-do-i-use-it-faq3437

4 REPLIES 4
Advisor

Re: Cash Debit Cards and Acorns

@gimmeu

 

The fee is one dollar a month for a basic account with a balance less than five thousand.

 

The one dollar fee is waived for college students.

Contributor

Re: Cash Debit Cards and Acorns

So it is a mandatory charge? I do have to pay it. Even though I don't want Acorn. Do you know if Paypal is even still offering these "Cash Cards"? Stores don't have them anymore.

Advisor

Re: Cash Debit Cards and Acorns

@gimmeu

 

No, it's not mandatory. There is no charge if you don't use it. There is also no charge if you open an Acorns account, but do not fund it. If in the future you change your mind, you can set it up.

 

Acorns will be offering a checking account and debit card, combined with the investment account and a retirement account. This would offer the ability to transfer funds back and forth from PayPal to the investment account and the checking account. The fee will be $3.00 a month.

 

I believe you're referring to the My Cash card, that product has been discontinued and replaced with PayPal Cash loading. You can find the PayPal Prepaid cards in stores, but these are only temporary cards with limited functions.

 

There is the PayPal Cash debit card. This card is directly linked to your available PayPal Balance. The card is no cost and there are no monthly fees.

 

https://www.paypal.com/us/webapps/mpp/cash-card

 

If you need to get funds into your PayPal account, you can use PayPal Cash at a retailer.

 

https://www.paypal.com/us/webapps/mpp/ppcash

 

https://www.paypal.com/us/smarthelp/article/what-is-paypal-cash®-and-how-do-i-use-it-faq3437

Contributor

Re: Cash Debit Cards and Acorns

Thanks for the help! That's great to hear because the Paypal Debit Mastercard is grating my nerves with these fees! Hopefully, the Paypal Cash Debit Card will work for me. I do wish that Paypal come up with more clever names for their products. It's confusing! Cash this, card that ugh.