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Yes, the PayPal Prepaid Mastercard has a monthly fee of 4.95.
The PayPal Cash debit card has no monthly fee, and the card is directly linked to your PayPal account, so there is no transferring of funds necessary—unlike the Prepaid card, which is able to have funds transferred to the card account from the users PayPal account.
Here is the PayPal link for the Cash debit card.