PayPal Debit Card review
- Fee
- $0 per month
- Minimum deposit to open
- $0
Our verdict
Access your PayPal Balance account at retailers and ATMs with this reloadable debit card.
PayPal Debit Card gives you easy access to your PayPal balance to make purchases wherever Mastercard is accepted. There's no monthly maintenance fee or opening deposit requirement and you get access to over 37,000 ATMs in the MoneyPass network. Notably, this debit card offers 1% to 9% cash back on eligible retail purchases. This makes the PayPal Debit Card a useful way to gain more value out of your PayPal account. However, there are a few areas to watch out for with this card: you have a $400 daily limit for ATM withdrawals and you might pay $2.50 for each withdrawal made at non-MoneyPass ATMs. Overall, it's a solid addition to any heavy PayPal user's wallet, but won't replace your existing debit cards.
Best for: Consumers who frequently rely on PayPal for storing their income.
Pros
-
Earn cash back at participating retailers
-
Large ATM network through MoneyPass
-
Pass-through FDIC insurance for $250,000
Cons
-
Only connects to your PayPal account
-
No check-writing abilities
-
No overdraft without a linked bank account or debit card
Who is the PayPal Debit Card best for?
Given the reliance on an active PayPal account, the PayPal Debit Card is best for those who frequently use PayPal and want to use those funds on purchases in store. The potential cash back on the card is also a nice bonus: the higher rates of 4% to 9% are higher than what you’d find on even the best rewards credit cards.
What makes it shine
The PayPal Debit Card’s big draw is the easy access you get to your PayPal funds. While PayPal lets you use your funds when making online purchases, the debit card lets you use those funds for in-store purchases.
Cash back is another big perk. It’s not often that debit cards offer cash back opportunities, and when they do, you can expect rates of around 1% to 2%. The PayPal Debit Card’s cashback rate ranges from 1% to 9%, depending on the retailer, which is some mighty value if you can take advantage. Paypal gives you a variety of ways to redeem your points, including cash, shopping credit and gift cards. However, the exact cash back earned depends on the retailer.
Finally, opening a PayPal Debit Card gives you pass-through insurance from the FDIC for up to $250,000. Typically, your PayPal funds aren’t insured by the FDIC since PayPal isn’t a bank. But with the PayPal Debit Card, your funds are held by one or more of PayPal’s partner banks, making your PayPal account balance eligible for FDIC insurance.
Where it falls short
While the PayPal Debit Card has distinctive perks, it may not replace your traditional bank account. You can’t write checks, and if you don’t have enough money in your PayPal balance to cover a transaction, PayPal will automatically debit your linked bank account or debit card to cover the difference. Otherwise, the purchase may be declined entirely if you opt to not link a bank account.
PayPal Debit Card fees and access
| Type of fee | Fee details |
|---|---|
ATM withdrawal, out-of-network | $2.50 |
ATM international withdrawal | $2.50 |
Foreign transaction fee | 2.50% of the purchase |
Teller withdrawal | $3 |
Over the counter cash withdrawal | $3 |
Cash reload at participating store | Up to $4.95 |
4 ways to load your debit card
Add funds to your PayPal account balance in four ways:
- Direct deposit
- Cash at over 90,000 participating retailers for a fee up to $4.95
- Mobile check deposit
- Bank transfer
Customer experience
There aren’t many consumer reviews available on social media, though thoughts on other PayPal products are generally positive. However, a few consumers are wary of its security strength.
PayPal is accredited with the Better Business Bureau and has an A rating. It earns a 1.3 out of 5 on Trustpilot, with consumer reviews complaining of poor customer service.
Contact PayPal at 844-896-4937 weekdays from 7 a.m. to 10 p.m. and weekends from 8 a.m. to 8 p.m., or through your account’s help center for support.
Compare PayPal Debit Card to other debit cards
Narrow down your debit card options by fees, APY and more. Select Compare on up to four accounts to see their features side-by-side.
What is the Finder Score?
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
Finder Scores: What they mean
If you want peace of mind, this rating will give it to you. These products offer the best value and outcomes considering various product features, terms, conditions and price.
Well-balanced products that provide what you need, offering a healthy mix of competitive features at a good price. However, they're not quite the best in class.
Bottom line: You can find better, but these products still offer reasonable value and have the basics sorted.
These products may not offer much value in the long run, and there are better options available.
Your reviews
Steven Finder
Senior writer
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