PayPal is a fast and safe way to send and receive money online. There are over 100 million users around the world. They have expanded their offering with PayPal credit cards and PayPal debit cards for wider use. Not everyone will want a credit card, so the PayPal Access card is a great option as a pre-paid debit card. It is available in the UK, in partnership with MasterCard. Read this guide to find out more about the PayPal Access card and how to get one.
What is the PayPal Access card?
As the title suggests, the PayPal Access card is a payment card which gives you access to the funds in your PayPal account. You don’t even need to top it up to use it. The PayPal Access card allows you to withdraw cash or pay by card using your PayPal balance. It is possible to use it anywhere that accepts MasterCard payments. This means that you can shop instore or order online with your PayPal card. When you receive payments through PayPal, you can spend the money with instant access rather than waiting to transfer it from PayPal to your bank account. The card does not have a credit facility and you cannot load money onto your card. If your PayPal balance is down to zero, then PayPal will withdraw the funds from your linked bank account instead when you use the Access card.
Who can apply for a PayPal Access card?
Unfortunately, you can only apply for a PayPal Access card if PayPal invites you to do so. To be eligible for a PayPal Access card you must be a UK resident and at least 18 years old. You must also be a PayPal customer with either a Business or Premier account. PayPal will not offer the card to you if you just have a regular account. As well as the primary account-holder, you can add a second cardholder to a PayPal Access card. This means that you can give a partner or family member equal access to the funds in your PayPal account. Each household can have a maximum of four PayPal Access cards registered to their address. This would allow up to eight cardholders at each address.
How can you get a PayPal Access card?
As mentioned, you cannot simply apply for a PayPal Access card outright. You will have to first meet the criteria to be eligible, and then wait for PayPal to invite you to apply. When you receive this invite, you will have to apply online. The more regularly you use your PayPal Business or Premier account, the more likely you are to receive an offer to join PayPal Access. If you do apply and PayPal accepts your application, then they will send your physical card via post. When you receive it, you will be given instructions to go online and activate it. Once this is done, you can start using your PayPal Access card like a debit card. If you are not a Business or Premier user but you would still like to get one of these cards, then switch your PayPal account. You can upgrade from a personal account by clicking on the link at the bottom left of your account home screen. A Premier account has the same features as the Business account but you do not need to run a registered business to have one. PayPal is likely to accept most applications.
What are the benefits of a PayPal Access card?
Convenience is the primary benefit of PayPal Access cards. There may be bonuses such as cashback on particular purchases, but mainly the benefit is simply having easy access to your PayPal balance with a debit card. Whenever you receive a payment from anyone through PayPal, you can have access to the money straight away. MasterCard PayPass is a technology which also allows PayPal Access card users to make contactless payments up to £30. It is easy to pay suppliers or shop online or on the high street without waiting for bank transfers to go through. You can even withdraw cash directly from your PayPal account when you are abroad as long as there is a MasterCard ATM (or an ATM run by Maestro or Cirrus). There is no annual fee for having this card. When you get one, you can sign up for PayPal Preferred Rewards to start collecting 1% cashback. You can also report unauthorized payments within 60 days to request a refund. This is added protection against identity theft every time that you use the card.
Are there charges and fees for PayPal Access card?
If you do want a PayPal Access card, you should also be aware of the costs. Though it is useful for withdrawing cash from ATMs, it will cost you £2 every time you make a withdrawal. The maximum amount you can withdraw in a day or at once is £250, with a £500 weekly cash withdrawal limit. If you use the card for an online purchase there is no charge, but there are limits. The maximum amount you can spend in a day or on an individual transaction is £1,000, or up to £1,500 per week. If you would like another card for a second cardholder or to replace an existing one, then it will cost £4.95 per card. It will cost £5 if you request a paper statement, and PayPal will charge you 3% every time you use the card for online gaming. Finally, although you can use your PayPal Access card overseas, there will be additional fees. Withdrawing cash will cost you £3 plus 2.75% of the withdrawal amount, while any purchase will also incur a foreign exchange fee of 2.75%. This means it can be expensive to use the card abroad.