Who Can I Use Paypal With
There are several people and places that will accept PayPal as a payment method, including:
- Merchants: If a merchant accepts PayPal checkout, you can use it to pay for goods and services.
- Friends and family: You can send money to most friends and family that also have PayPal accounts without a transaction fee unless you need to translate
- Employees or contractors: You can pay contractors or employees with a PayPal business account, which is different from a consumer account. PayPal considers that a “commercial transaction” and it comes with its own set of fees.
Beware The Cash Advance Fee
In 2020, the New York Times reported on a change in the way that money transfer transactions are coded and processed through Visa and Mastercard. This change means that banks can now charge cash advance fees for things like person-to-person money transfers through services like PayPal and Venmo.
Since this change has been implemented, some credit card users have reported being charged a cash advance fee when sending money using PayPal. In addition, Chase has been reported to be sending notices to existing cardmembers updating their terms and conditions to include person-to-person money transfers in the list of transaction types where they charge a cash advance fee.
To Visa And Mastercard Debit & Prepaid Cards
Sending funds from PayPal to your debit or prepaid card takes about 30 minutes. There is a $0.25 fee for this service, though additional currency conversion rates may apply when withdrawing from another currency. Here are the steps to withdraw money to your card:
You May Like: Cabelas Visa Manage My Account
A Guide To Paypal For Managing Your Money
PayPal, which also owns the popular payment app Venmo, is one of the oldest and most widely used digital money transfer services. It acts as an intermediary between your source of funds and that of the recipient, such as a friend or merchant. Last year, consumers across more than 200 markets used 392 million PayPal accounts to buy goods and services or send money to friends and family around the world. About 34 million merchants accepted payment via PayPal.
Through PayPal, you can move money online without sharing banking or credit card information with the recipient. The basic personal service is free for most transactions. Founded in 1998, PayPal isn’t a bank. But it now provides many bank-like services through partnerships with banks, such as credit and debit cards, bill pay and direct deposit. Other features include QR codes.
PayPal offers different kinds of credit, including a Buy Now, Pay Later service. PayPal also offers a cash-back credit card as well as a prepaid card Mastercard and a debit card.
How To Load Funds Onto The Card
There are several ways to add funds to a PayPal Prepaid Mastercard®. Most options are free, except for cash reloads at a store.
- Direct Deposit: Free deposits for paychecks. PayPal claims to process payments up to 2 days faster than a standard bank account.
- PayPal Instant Transfers: Instantly transfer funds from your PayPal account to your prepaid card to use at a physical register.
- Tax Refunds: Set up your PayPal Prepaid Mastercard as the deposit method for your state and federal tax refunds.
- NetSpend Reload Locations: Load money in person at over 130,000 reload locations. This service comes with a reload fee, see the cardholder agreement for details.
The minimum initial load amount is $10-$20, depending on where you get the card. The maximum initial load amount is $500. All retail location reloads have a maximum amount of $500, but direct deposits and instant transfers are not subject to that.
In total, you may have up to $15,000 in funds on your PayPal Prepaid Mastercard®.
You May Like: Best Buy Visa Credit
Venmo Vs Paypal: Sending Money
The process to send money to someone is fairly similar across the two apps. Both offer the ability to sync your contacts to the app, enabling it to search for any associated PayPal or Venmo accounts held by your friends and family. But even if the app doesnt surface the contact youre looking for, you can send money using their username, email address, or mobile number.
After choosing the recipient and the amount, both PayPal and Venmo will ask you what payment method youd like to use. If you have a positive balance with either service, you can use those funds for your payment. Otherwise, funds will be drawn from the bank account, debit card, or credit card you identify as your desired payment method for this transaction.
Once you hit send on your payment, the amount will hit the users PayPal or Venmo balance within a couple of minutes, often even seconds. With both apps, youll want to make doubly sure youre sending money to the right contact, since the companies wont refund your money if you send it to the wrong person.
How We Evaluated Venmo Vs Paypal
To help you understand when each of the two digital payment apps makes the most sense, we delved into PayPals and Venmos terms on features, payment transaction fees, bank transfer fees, transaction limits, and business/merchant offerings. By laying out a head-to-head comparison on these aspects, it should be easy to see which app will best serve your different needs, or possibly concluding that the best option is to have an account with each.
Recommended Reading: Cabelas Credit Card Statement
Consider The Paypal Prepaid Mastercard For Paypal Transactions
In summation, yes, PayPal accepts prepaid cards. Which makes sense, considering it offers its own prepaid card.
We like the PayPal Prepaid Mastercard® because you can move money from your PayPal account onto this prepaid card in real-time. You can also add money to your account with the no-cost Direct Deposit service, and you will receive special offers and Payback Rewards when you shop at qualifying stores.
How To Transfer Money From Gift Card To Paypal
Well, this article seeks to explain to you how you can transfer money from a gift card to PayPal and spend it the way you want. No one likes limitations and as I have just mentioned above, some of them limit you to buy goods from specific stores or even related businesses. What if you do not find what you want to buy in the specified store? You will be forced to buy anything that may help you in one way or another, which is inconvenient.
Gift cards are available at certain stores such as Walmart and Amazon. You can buy gift card online with a checking account or even visit a physical store where you can purchase yours. The reason businesses give out gift cards is that they want to create brand awareness, attract more customers, improve cash flows, and even generate useful data about certain commodities purchasing trends. This way, they can know what to stock in large numbers as well as what to stock in small quantities.
You May Like: Who Checks Transunion
How Do I Exchange A Gift Card For A Paypal Balance
Interestingly, you can exchange your gift card for a PayPal balance. If you receive a card that you do not need, you cannot just let it lie there, and you need to convert it to money for other uses. You can recycle unwanted cards for cash in your PayPal balance via CardCash. Follow the following steps to carry out the process.
- Visit CardCash.
- Fill in the merchants name and the amount of money on your gift card.
- Click GET OFFER and wait to see if there is any offer available for the card. A display will show the amount of PayPal balance you can exchange with the gift card.
- Agree or reject the offer. If you agree to the request, click Continue.
- Input your gift card number and PIN
- Sign in to your PayPal account and fill in the required fields.
- .
The funds will reflect in your PayPal account within one working day after completing the process. You can then use the balance for online purchases or transfer it to your bank account.
How To Use Your Debit Card With Paypal
Before laying out the steps, know that it isnt a requirement to link your debit card with PayPal. Its just one of many options available to fund your account. Its perfectly fine to stick to linking a bank account instead.
But if you want to link a debit card, here are the steps:
For security purposes, PayPal may request that you confirm your card. If thats the case, a link that says confirm credit card will appear in the card details section of your PayPal Wallet. Also, PayPal only allows you to link one debit card per account.¹
However, if you have a debit card, credit cards, and a bank account linked along with a PayPal balance, always be sure to check which payment method youre using before paying for goods and services. Every purchase will offer several PayPal Wallet options, so double check the one you want to use.
Read Also: Should I Pay Off My Credit Card In Full
How To Use Your Debit Card
To use your debit card on PayPal, youll need to add it to your profile. To do so, log into your account and go to your wallet. Next, find the section to link a debit or credit card. You can also add cards while a payment is in progress by selecting add a debit or credit card while you choose how to pay.
Select the type of card youre using and provide the card information. Entering debit card information is the same as entering credit card informationthe format for card numbers and expiration dates is the same.
Transfer Paypal Funds In Unionbank Eon Visa Card
When I wrote How I Send Money to the Philippines Using PayPal a few days ago, I realized that reinforcement from another blogger is required.
I never had a bank account in the Philippines. Someone has to write on how to transfer PayPal funds in Unionbank EON Visa debit card.
Who I asked for help? Although hesitant at first, my sibling eventually mostly wrote this post from a recipient point of view.
Don’t Miss: How To Remove Card From Google
Cards Are Optional If You Link Bank Accounts
PayPal is a useful tool for making payments. Originally designed for online payments and purchases, PayPal also allows you to shop at brick-and-mortar retailers using your PayPal account instead of traditional payment methods. You can fund payments from several sources, including your debit card.
If you prefer shopping with a debit card, it might even be wiser to run payments through PayPal. Doing so protects your card information by creating a layer between your checking account and the merchants you shop with online, instead of swiping your card or punching in number, which creates security risks.
In a world of hackers and constant data breaches, its nice to insulate your checking account from trouble. That protection gives you more confidence when buying from online vendors that you dont know anything about, and even household-name retailers get hacked periodically.
This article is about using a debit card to fund purchases you make through PayPal. If you want to get a new debit card issued by PayPal , you will need to learn about PayPal debit and credit card options.
How Long Does It Take To Transfer Money From Paypal To Credit Card
You can now transfer money from your PayPal account to a debit or credit card using this method. PayPal will not detect any suspicious activity, so these transfers should appear within 30 minutes of being made. You can only use your debit card to make a deposit, not a credit card, but it takes up to 30 minutes to complete.
Recommended Reading: Southwest Referral Rapid Rewards
How To Turn Your Paypal Balance Into A Debit Card You Can Spend Anywhere
Michael Crider
Michael Crider is a veteran technology journalist with a decade of experience. He spent five years writing for Android Police and his work has appeared on Digital Trends and Lifehacker. Hes covered industry events like the Consumer Electronics Show and Mobile World Congress in person. Read more…
PayPal is a useful service for sending and receiving money, and its just about everywhereat least, on the internet. But what if you have a bunch of money in your PayPal account and want to use it somewhere PayPal isnt offeredlike an actual brick and mortar store?
You can transfer money to your bank, of course, but the three- to four-day waiting period to transfer funds isnt very convenient, and it isnt always an optionespecially if youre a freelancer that gets paid via PayPal and you have bills to pay. Enter the PayPal business debit card.
Timing Paypal Transfers To Your Bank Account
PayPal transfers the money from one account to another, and, depending on your bank, this may take time. If you have any pending payments about to hit your PayPal account, this may cause you issues, so do your math before you trigger a transfer.
Transferring money to your bank account isn’t instantaneous if you choose the standard transfer, which can take one to three business days.
If you’re pressed for that money, connect your PayPal account with your debit card. Those transfers usually go through in about 30 minutes, as long as it isn’t after hours or a federal holiday.
You May Like: Oakstone Gold Secured Mastercard
How Do You Transfer Money From A Visa Gift Card To Paypal
PayPal accepts Visa gift cards, and you could use your Visa gift card to fund your transaction in PayPal. All you need to do is to link your card to your PayPal account, and then add cash from the Visa gift card to your PayPal account.
As well, you can always use the Visa gift card balance to fund your transactions whenever necessary. This is the same way you link credit cards and debit cards to your PayPal account to use the card balances for various transactions. Linking a card to PayPal is easy. Even the second chance credit card with no security deposit attaches so easily with PayPal so long as it is active.
How To Transfer A Gift Card Balance To A Bank Account
You may need the money and wondering how you can transfer your gift card balance to your bank account. That should not bother you as you can transfer your card balance to your bank account. Most people transfer money from their card to the bank is by using a square.
Square accepts Visa gift cards. You can follow the steps below to transfer funds from it to a bank account.
- Activate the gift card online or by calling the provided number.
- We are assuming that you have a Square account sign in with either android or iPhone.
- Link your bank account to square if not yet linked.
- Use a square card reader or enter the cards details manually. Card reader charges 2.75% while entering the card details costs you 3.5%+$0.15 transaction fee for a manual entry.
- When square accepts the card, your gift card balance will fall to zero.
- Square will then deposit the money in your bank account within the next two business days. Most transactions complete within a day.
Alternatively, you can add the card to your Venmo or PayPal account, transfer funds from the gift card to the Venmo or PayPal account, and then to your bank account linked to either Venmo or PayPal. Wait for 3-5 business days for the balance to reflect in your bank.
It would be nice to send money from a gift card to a debit card like you can transfer money from a debit card to another debit card, but such an option is currently unavailable.
Also Check: Is It Better To Pay A Credit Card In Full
Affordable International Money Transfers: Ofx
OFX is a relatively inexpensive platform for international money transfers. The platform doesnt charge any transfer fees and has no transfer limits to most major currencies. It does, however, have a $150 transfer minimum.
OFX allows you to transfer money to 190 countries in 55 different currencies. The transfer time depends on the country youre sending money to, but in most cases it takes one to two business days.
Once you send money through OFX, youll get email notifications so you can track the transfers progress. OFX employs fraud prevention technology to identify suspicious activity and to keep you from falling victim to would-be thieves.
Best Mobile Experience: Venmo
Owned by PayPal, Venmo is sort of a social network for money transfers. You can add friends and see their transactions in your account feed.
Venmo transfers are free if you use your Venmo balance, bank account, debit card or prepaid debit card. If you choose to send money using a credit card, youll pay a fee of 3 percent. Bank transfers typically take one business day.
Theres a weekly rolling limit of $2,999.99 for sending funds through Venmo once you verify your identity. Theres also a $2,000 limit per transaction for authorized merchant payments, and a rolling weekly limit of $4,999.99 for all transactions combined.
Venmo doesnt provide any buyer or seller protection, so we recommend using this platform only with people you know and trust.
Read Also: Do Cabelas Points Expire