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PayPal Prepaid Mastercard review

Great for using PayPal funds to shop in-person, but there's an unavoidable $4.95 monthly fee.

The PayPal Prepaid Mastercard offers a convenient way to use PayPal funds in-person and on the go. Plus, the potential to earn 2% cash back at select merchants when you opt into the optional PayPal Payback Rewards program. But the card has an unavoidable $4.95 monthly fee, which is typical for prepaid cards. There’s also no ATM network, so expect to shell out $1.95 each time you need to withdraw cash.

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Monthly maintenance fee


Signature transaction fee


PIN transaction fee


Card typePrepaid
Card networkMastercard
Monthly fee$4.95
Signature transaction fee$0
PIN transaction fee$0
Additional Card Fee$0
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Review by

Kevin Joey Chen was a credit cards, banking and investments writer for Finder. His work and analysis have appeared on CNN, U.S. News & World Report,, Lifehacker and

Expert review

The PayPal Prepaid Mastercard may be a good choice if you want a convenient way to use PayPal funds in-person. The card earns 2% cash back and has convenient reload methods for cash, check and electronic deposits.

On the downside, the PayPal Prepaid Mastercard doesn’t have an ATM network, so you’ll pay $1.95 for each withdrawal. Plus, there’s an unavoidable $4.95 monthly fee. That said, most prepaid cards cost at least $5 a month and some cost as much as $10 a month. If you want to avoid a monthly fee altogether, a debit card may be a better option.

How much does PayPal Prepaid Mastercard cost?

The PayPal Prepaid Mastercard costs $4.95 a month, plus a one-time purchase fee of $4.95 if you buy the card in-store. It also has these fees:

Card purchase fee if ordered online$0
Plan fee$4.95 a month
Signature purchase transaction feeIncluded in plan
PIN purchase transaction feeIncluded in plan
Over-the-counter cash withdrawal fee (financial institution)$2.50
Over-the-counter cash withdrawal fee (NetSpend Reload Network)Varies by location
ATM cash withdrawal fee (domestic and international)$1.95
ATM transaction decline fee (domestic and international)$1

View a full list of fees in the PayPal Prepaid Mastercard’s terms and conditions.

How do I open a PayPal Prepaid Mastercard account?

Apply for this card in minutes by following these steps:

  1. Select Apply now.
  2. From the PayPal Prepaid Mastercard website, click Order Your Card.
  3. Complete the application with information like your name, address and contact information. Then click Get My Card to submit your application.


If you live in Vermont, you’re ineligible for the PayPal Prepaid Mastercard. But all other US citizens and residents who are at least 18 years old are eligible.

Required documents

You’ll need this information when you apply for the PayPal Prepaid Mastercard:

  • Full name and contact information
  • Home address

How long will it take to be approved?

You’ll typically receive a decision on your application right away. If approved, you’re mailed the card within 10 business days.

PayPal Prepaid Mastercard benefits

This prepaid card is free to open, has no inactivity fee and features unique perks, such as:

  • Faster access to deposits. When you deposit your paycheck or government benefits directly to your card, you can access the funds up to two days faster than direct deposit to a bank account.
  • PayPal Prepaid mobile app. Check your account balance, find reload locations and more from your smartphone.
  • Open a savings account. As a PayPal Prepaid Mastercard holder, you get access to PayPal’s high yield savings account that earns 5% APY on balances of up to $1,000.
  • PayPal Payback Rewards. Opt into this optional program and earn 2% cash back at select merchants when you use your PayPal Prepaid Mastercard. Plus, receive $5 each time you refer a friend and they add at least $10 in funds to their account.

What to watch out for

The PayPal Prepaid Mastercard has a few potential drawbacks to watch out for:

  • Must have PayPal account. You’ll need to have an active PayPal account to use this card’s online features.
  • No ATM network. PayPal doesn’t have in-network ATMs, so you’ll pay $1.95 plus operator fees each time you need to withdraw cash.
  • Monthly fee. To use the card, you’ll pay a Plan Fee of $4.95 a month.
  • Not a credit card. This Mastercard is a prepaid card. You’ll need to load money to the card before using it.

If you want a prepaid card with zero to minimal fees, consider the PayPal Business Debit Mastercard that draws from your PayPal balance. You can apply for it if you have a PayPal Business account or received at least $500 in your personal PayPal account in the last 12 months. Or, compare your options to find another prepaid card with minimal fees.

Is the PayPal Prepaid Mastercard safe?

Yes, the PayPal Prepaid Mastercard is safe. Funds are FDIC insured through Bankcorp Bank and you can request a new card if yours is damaged, lost or stolen.

PayPal Prepaid Mastercard reviews and complaints

PayPal has a 1.2 out of 5-star rating on Trustpilot based on nearly 21,450 customer reviews as of April 2022. Most are about PayPal in general, but there is a handful for the PayPal Prepaid Mastercard. The most common complaint is that the unavoidable $4.95 monthly fee eats into your balance.

Compare with other prepaid cards

Name Product Annual or monthly fee ATM withdrawal Features
Brinks Prepaid Mastercard
Brinks Prepaid Mastercard
$9.95 per month (or $5 with a $500+ direct deposit, or $0 with pay-as-you-go)
  • Mobile app
  • Direct deposit
  • Payback rewards
No credit check. No minimum balance. No late fees because this is not a credit card.
Netspend Prepaid Mastercard, WWE partner
Netspend Prepaid Mastercard, WWE partner
$9.95 per month (or $5 with a $500+ direct deposit, or $0 with pay-as-you-go)
  • No activation fee
  • Payback rewards
  • No minimum balance required
No credit check, mobile check load, and now a WWE partner
Finder Rating: 4.6 / 5: ★★★★★
$48 per year or $4 per month
  • Low fee
  • Investing
  • Parent-paid interest
  • Donation options
The BusyKid Visa® Prepaid Spend Card gives your kids the freedom to spend anywhere Visa® is accepted, and parents see every transaction made.
Netspend All-Access Account
Netspend All-Access Account
$5 per month
  • Earn cash back on everyday purchases
  • Earn up to 6% APY with an optional Savings Account
  • Receive your paycheck up to 2 days earlier with Direct Deposit
With Netspend All-Access Account there's no credit check and no minimum balance to open an account.
PayPal Prepaid Mastercard
PayPal Prepaid Mastercard
$4.95 per month
  • Manage money on the fly
  • Receive special offers and cash back rewards
  • Get your state and federal tax refund faster than a paper check
Use the no-cost direct deposit service and have access your funds up to two days faster than what traditional banks offer.

Compare up to 4 providers

I got my PayPal Prepaid Mastercard. Now what?

Now that you have your PayPal Prepaid Mastercard, make the most of it by:

  • Activating your card. Call 866-753-6440 or visit to activate your card.
  • Avoiding fees. Check this card’s fee table to understand fees you might encounter using it.
  • Contacting customer service. If you have questions, contact customer support at 866-753-6440.

Funding options

There are five ways to add funds to your PayPal Prepaid Mastercard:

  • PayPal account
  • Direct deposits
  • ACH transfer
  • Mobile check deposit
  • Cash reload at a Netspend Reload Network location

Frequently asked questions

Can you overdraft with the PayPal Prepaid Mastercard?

No. As with most prepaid cards, transactions that would bring your account balance below $0 are automatically declined.

How do I open the PayPal Prepaid Mastercard Savings account?

If you wish to take advantage of the optional savings account that comes with your prepaid card, log into your PayPal account, navigate to the online Account Center and follow the on-screen steps to open the account.

How do I close my PayPal Prepaid Mastercard account?

There are two ways to close your account:

  1. Call the toll-free number listed on the back of your card
  2. Submit a request through your PayPal Account if you have your prepaid card linked to it.

Before you request to close your account, you need to withdraw any remaining funds at the card. The fastest way to do this is at an ATM. If you request a paper check from PayPal, you’ll pay a $5.95 fee and it’ll take three to four weeks to process.

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    Default Gravatar
    February 14, 2019

    What time do direct deposits post to your account. My tax return was sent to my acct yesterday and I still haven’t received it , but I was wondering if it will post by midnight or could it post at anytime during the day, basically is there a specific time on when the deposit will post?

      Avatarfinder Customer Care
      February 19, 2019

      Hi Erin,

      Thank you for getting in touch with finder.

      Please note that direct deposits through a bank can take up to two working days. You may visit PayPal’s help page to learn more on receiving your tax refund with PayPal.

      I hope this helps.

      Thank you and have a wonderful day!


    Default Gravatar
    December 21, 2018

    I signed up for direct deposit, this will be my 1st deposit. Why haven’t I received it early? It’s 12 am and I have not yet received anything. How does it work?

      Avatarfinder Customer Care
      December 21, 2018

      Hi Neisha,

      Thanks for reaching out to finder.

      If you have just set up direct deposit with Paypal, the first direct deposit usually takes 1-2 pay periods for the deposit to be effective but can also vary across employers. You may want to check with your employer for specific timing.

      I hope this helps.


    Default Gravatar
    April 8, 2018

    Can you get cash advance from this card?

      Avatarfinder Customer Care
      April 8, 2018

      Hello Chiquita,

      Good day! Appreciate you contacting finder regarding your inquiry today.

      Please note that cash advance is not available for this card. This Mastercard is a prepaid card. You’ll need to load money to the card before using it.

      Hope this helps!

      All the best,

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