No Service Fee for Direct Deposit of minimum amount

cassiereroni
Contributor
Contributor

About a year to a year and a half ago I had signed up for and participated in a PayPal Prepaid offer.  The offer was if I direct deposited $400.00 or more a month into my Paypal Prepaid account the monthly service fee was waived.  Does anyone know if that is still being offered?

 

Thanks for any information,

cassiereroni

 

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Oregon11
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The PrePaid card is never directly linked to your PayPal balance (the funds need to be transfered from the card balance as you know). The Cash debit card is linked directly to your PayPal account balance and it adds direct deposit directly to your PayPal account profile (you'll have an account and routing number listed). 

 

If you don't have enough funds in your PayPal balance and you use the Cash card, the transaction will be declined. There is no way to set up a backup funding option in case of a low balance or a zero balance with the Cash card. 

 

The only PayPal debit card that offers the option to set up backup funding options in case of a low or zero balance is the Business debit card. With this specific card, PayPal lets you set up your bank account as a backup funding option or you can use a PayPal branded credit card as a backup funding option. The Business debit card offers no direct deposit setup feature and PayPal doesn't allow both the Business debit card and the Cash debit on the same account at the same time. 

 

Here are PayPal links in case you're interested in these cards.

 

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

 

https://www.paypal.com/us/webapps/mpp/credit-card/2-percent-cash-back-mastercard

 

I hope this helps and you're very welcome.

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Oregon11
Advisor
Advisor

The PayPal Prepaid debit card offers direct deposit and has a monthly fee but your balance is paid an interest rate (I'm not aware of any promotion for waiving the monthly fee). The Prepaid debit card must be linked to your PayPal account so you can transfer funds between the card account and your PayPal account.

 

PayPal offers the Cash debit card for no charge and no monthly fee as well as no fee direct deposit. The Cash debit card doesn't pay any interest on your balance. The Cash debit card is linked directly to your PayPal account balance and when you sign up PayPal adds the direct deposit feature to your account. You'll be able to see your direct deposit account and routing numbers in your PayPal profile.

 

Here is the PayPal link for their Cash debit card.

 

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

 

 

 

 

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cassiereroni
Contributor
Contributor

@Oregon11 wrote:

"The PayPal Prepaid debit card offers direct deposit and has a monthly fee but your balance is paid an interest rate (I'm not aware of any promotion for waiving the monthly fee)."

 

I am aware that direct deposit is offered to Paypal prepaid and that there is a monthly fee as well as interest applied to my balance.

 

For almost 2 years I had "opted into" some kind of program or offer that Paypal Prepaid was offering (which was at least two or possibly three years ago) that specified if I deposited over $400.00 a month I would not incur service charges for the months that $400.00 or more was deposited in.  I took them up on that offer and I wasn't charged and didn't pay a service charge for about a year.   I then had some problems and had to suspend using my Paypal Prepaid account for quite some time.

 

I just restarted my direct deposit and was wondering if that option was still available.  Apparently, it's not but I thank you for the information you provided about the cash card.  The cash card was not available a couple of years ago or if it was I was not aware of it.

 

Is this "cash card" tied to your paypal balance?  What I mean is if someone bought things from me on ebay and paid with paypal, those funds are sitting in my paypal account, can I then use those funds with this cash card?  And if so and there isn't quite enough on the cash card to pay for something in a brick and mortar store does it first use what is on the cash card and then make up the remaining with any other debit card that is connected to my paypal account?

 

I guess I'm mostly asking if I have a balance in my paypal account (not my prepaid account) will the cash card deduct from that balance?

 

Thanks for any help,

cassiereroni

 

 

Thank you again,

cassiereroni

 

 

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Oregon11
Advisor
Advisor

The PrePaid card is never directly linked to your PayPal balance (the funds need to be transfered from the card balance as you know). The Cash debit card is linked directly to your PayPal account balance and it adds direct deposit directly to your PayPal account profile (you'll have an account and routing number listed). 

 

If you don't have enough funds in your PayPal balance and you use the Cash card, the transaction will be declined. There is no way to set up a backup funding option in case of a low balance or a zero balance with the Cash card. 

 

The only PayPal debit card that offers the option to set up backup funding options in case of a low or zero balance is the Business debit card. With this specific card, PayPal lets you set up your bank account as a backup funding option or you can use a PayPal branded credit card as a backup funding option. The Business debit card offers no direct deposit setup feature and PayPal doesn't allow both the Business debit card and the Cash debit on the same account at the same time. 

 

Here are PayPal links in case you're interested in these cards.

 

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

 

https://www.paypal.com/us/webapps/mpp/credit-card/2-percent-cash-back-mastercard

 

I hope this helps and you're very welcome.

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TiffanyKeel
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Member

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