Paypal users could make a request for a debit card Mastercard the company is offering to their clients who has a premium or business type account.
The card makes withdrawals of Paypal funds fast and easy.No need to initially transfer the funds from your Paypal account to your bank account which could take 3 to 4 days at the least before you can get the money.
The Paypal debit card can be used 24/7 on any ATM where Mastercard is accepted.However,it is available only to those who have premium or business accounts.Customers with personal and student accounts must upgrade to either premium or business to avail of the debit card.
The card works just like any other debit cards.You can make shopping purchases with it and pay restaurants anywhere where Mastercard is accepted and it will automatically be debited on your Paypal balance.
Another interesting feature of this product is the 1 percent cash back you will earn whenever you sign for a purchase.(Requires enrolment for the Paypal Preferred Rewards Program).
There is a spending limit of 3,000 USD and a daily 400USD ATM limit associated for the use of the card,although there may be a cash withdrawal fee when using the card at an ATM.(Paypal does charge a very small fee when funds are added to your account.)
A 100% protection against unauthorized charges on the card is guaranteed.This applies to fraud and theft upon notifying Paypal within 2 business days.
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