The PayPal Business Debit Card is a debit card connected and linked to your PayPal, which is available and open to Business account owners. With this debit MasterCard there is so much you can and in this review, we will be covering some of them. To learn more about the PayPal business debit card, read on.
PayPal Business Debit Card 2022 Review
This business debit card allows you to make use of your PayPal account balance anywhere and anytime, both in-store and online. Also, through your mobile phone or computer. Additionally, there are no annual fees added. Using this card, you can do your shopping anywhere, earn available and tangible rewards and earn more cash.
Benefits of the PayPal Business Debit Card
Before applying for the PayPal Business Devit card, of course, you’d want to know the benefits of the card. And that is why we will be listing out some of the benefits of the debit card below;
- You are under the protection of illegal payments sent from your account balance.
- You are under the coverage of zero liability.
- Emergency card replacement in case it should get lost or stolen.
- No annual fee.
- Easy and convenient transactions.
- You earn a cashback reward of 1 percent on signature purchases when you sign up for the cashback reward service.
What Can I do with the PayPal Business Debit Card?
There is so much you do with the card, but below are a few of the things to do with the card;
- It can be used to withdraw money from your PayPal account.
- Check and manage your account.
- Access your money with your U.S. PayPal account.
- Make a payment of bills with PayPal anywhere and wherever you go.
- Send money to others.
There is more, the above is just a few of the relevant things to do with the card.
Requirements for PayPal Business Card
For you to apply for this debit MasterCard there are qualifications and requirements to be met. To apply for this card, please ensure that;
- You own a legal business in the United States.
- You have a valid and confirmed residential address.
- Applying for this card, includes you entering your physical residential address.
- Complete the location confirmation process.
- Provide your first and last name.
- Enter a valid social security number.
- Your date of birth.
- You must be an active member and user of PayPal.
How to Apply For the PayPal Business Debit Card
You are qualified for the business card, use the steps below to apply for it;
- On your web browser, access the PayPal official site.
- Click on “Tools” at the top of the page.
- Click on the “PayPal debit card”.
- Go through the information you have entered in the application form to make sure your details are correct.
- Accept the terms and conditions of the card by clicking on “Agree and Continue”.
If the application has been approved, it may take up to 7 to 10 working days for your PayPal business debit card to be mailed. Moreover, if the application is declined, you can try again after 30 days.
How to Activate Your PayPal Business Debit Card
To activate your card, follow the steps below;
- Go to the Paypal official site at www.paypal.com and log in.
- Click on “Profile”.
- Then “Profile and Settings”.
- Now, click on “My Money” on the next page.
- Select “Update” next to “PayPal Business Debit MasterCard”.
- Choose the card to activate and click on “Activate Now”.
- Enter the required details and click on “Activate Debit Card”.
You could also activate your card by calling customer care service and following the prompts to activate your card.
Frequently Asked Questions
Is PayPal business debit card free?
The debit card is free with no annual charges, however, there is some transaction fee. A fee of $1.50 per ATM withdrawal within the US including the amounts charged by the ATM, and $3.00 per signature withdrawal if a signature is required to get funds. Also, a fee of $1.50 is charged per withdrawal from a non-US ATM.
Does PayPal business debit card have fees?
There are no annual fees and you get a 0.5% cashback on your purchases using the PayPal business card.
Can I withdraw money from my PayPal business debit card?
Yes, you can withdraw money from the PayPal business card. You can withdraw money from your PayPal balance at ATMs and with purchases at participating retailers.
What are the cons of PayPal business account?
The highest cons of the business includes;
- It is not for a high-risk or high-volume business.
- Somewhat higher per-transaction fees than its competitors making it a bit difficult for competitors.
How much can I withdraw from PayPal business debit card?
On purchases with the card, there is a daily limit of $3000, while on AT withdrawals, there is a $400 daily limit.
How do I add money to my PayPal business debit card?
Follow the steps below;
- Log into your PayPal account and click “Transfer Money” on the web.
- On the next page, select “Add money to your balance”.
- Follow the prompts next to add the amount you wish to add to your debit card.
Can you transfer money from PayPal business to bank account?
Yes, you can. Once you have clicked on transfer money from the Paypal account homepage, your linked bank accounts and cards will be shown. Now, choose to either make an instant or standard transfer.
Can I run my PayPal debit card as credit?
Not impossible, but it depends on the site you want to make a purchase from. After you must have provided the card number and expiry date, most portals may give you the option of using your debit card or credit card.
Why are PayPal business fees so high?
This is because PayPal not only charges you a percentage of the money you receive but also a fee for every business transaction you make.
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