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PayPal Prepaid Mastercard®
PayPal Prepaid Mastercard® Review
If PayPal is your go-to money source, then having a prepaid card with which to use those funds for cash or card purchases could come in handy. Plus, one of the biggest perks of the PayPal Prepaid Mastercard® is the ability to link it to a high-yield savings account (up to a 4.91% interest rate). However, due to the card’s numerous fees, you may find that the cost outweighs the convenience. While you may be able to avoid some of the fees, you will still be charged the monthly fee of $4.95.
Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. The ratings are the expert opinion of our editors, and not influenced by any remuneration this site receives from card issuers.
While this site receives compensation from companies listed here, this does not influence our ratings or reviews. Learn more here.
PayPal Prepaid Mastercard®
SIGN-UP BONUS
N/A
REWARDS RATE
Take advantage of PayPal cash back rewards and earn on qualifying purchases from select merchants.
Easy Transfers
Link your account at PayPal to a PayPal Prepaid Mastercard. Transferred funds available for use through your PayPal Prepaid Card Account at no-cost.
Rewards Rate
Take advantage of PayPal cash back rewards and earn on qualifying purchases from select merchants.
Companion App
Check your Card Account balance, see transaction information, and more.
Annual Fee
Plan fee is $4.95 monthly.
Card Brand
Mastercard®
Recommended Credit Score
Limited / PoorHighlights
- Move money from your PayPal account to fund your prepaid card account.
- Earn cash back and personalized offers, just for using your card.
- With Direct Deposit, you can get paid faster than a paper check.
- Card issued by The Bancorp Bank, Member FDIC. Card may be used everywhere Debit Mastercard is accepted.
- Click PayPal Prepaid Mastercard® for additional features & program details, and to request a Card.
Additional Info
Foreign Transaction Fee
4%
Balance Transfer Fee
N/A
Expert Review
Editor's Overall Rating
Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. The ratings are the expert opinion of our editors, and not influenced by any remuneration this site receives from card issuers.
From the LendingTree editorial team, updated on Mar 12, 2025
If you’re a regular PayPal user looking for a prepaid card to use for purchases, then the PayPal Prepaid Mastercard® could be a good fit. You must have a PayPal account to access the card’s online services, and you can easily load PayPal funds to the card. The card can be used anywhere Mastercard debit is accepted.
There is a monthly fee of $4.95, but cardholders can benefit from special offers and Payback Rewards when using the card for purchases at qualifying stores, if they opt in to the rewards program. In addition, cardholders have the option to open a high-yield savings account through The Bancorp Bank.
Other options for loading funds onto the card include direct deposit or a cash reload through the more than 130,000 NetSpend Reload Network locations nationwide (for up to a $3.95 fee for each NetSpend reload).
The Good
- The PayPal Prepaid Mastercard® is free to open as long as you have a PayPal account and any transfers made to the card from your PayPal accounts are free. The card can be used anywhere Mastercard or PULSE cards are accepted. If you opt to have your paycheck direct-deposited to the PayPal Prepaid Mastercard, those funds may be accessible up to two days faster than if deposited to a regular bank. Cardholders can also receive a free second card for a friend or family member. The purchase and ATM withdrawal limits are generous: $5,000 for purchases and a daily ATM withdrawal limit of $940. Another benefit is the card’s Refer-A-Friend program, where a $20 credit is granted to both cardholders once the referral cardholder verifies their identity and loads a minimum of $40 to their account.
The Not So Good
- This is a prepaid card that won’t help build your credit score and, like many prepaid cards, assesses a variety of fees. For example, you’ll be charged a $4.95 monthly fee, along with a $1.95 ATM withdrawal fee (plus any ATM operator fees), a $2.50 bank withdrawal fee and a $1 fee for ATM transactions that are declined. There is also a daily limit of $300 on PayPal transfers and a $3.95 cash loading fee at NetSpend Reload Network locations.
The Bottom Line
If PayPal is your go-to money source, then having a prepaid card with which to use those funds for cash or card purchases could come in handy. Plus, one of the biggest perks of the PayPal Prepaid Mastercard® is the ability to link it to a high-yield savings account (up to a 4.91% interest rate). However, due to the card’s numerous fees, you may find that the cost outweighs the convenience. While you may be able to avoid some of the fees, you will still be charged the monthly fee of $4.95.
Editorial Note: This content is not provided by The Bancorp Bank. Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by The Bancorp Bank.
Related Card Offers
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on Bank of America's secure site
Sign-Up Bonus
25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
Flexible Redemption
Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
Rewards Rate
1.5 points per $1 spent on all purchases. 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center.
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Regular APR
17.24%, 23.74%, or 28.99% Variable APR
Intro Purchase APR
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Intro BT APR
0% intro APR for 21 months from account opening on qualifying balance transfers
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on Discover's secure site
0% Intro APR
0% Intro APR for 15 months on purchases and balance transfers, then 18.24% - 27.24% Variable APR
Rewards Rate
5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically
Welcome Offer
Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
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