PayPal Business Debit Mastercard 0.5% Cashback

Although PayPal isn’t FinTech I’m sure lots of people here use PayPal, they have always offered a debit card, but the business one now offers 0.5% cashback and no fees for using it abroad.

The PayPal Business Debit Mastercard is a debit card linked to your PayPal account available for Business account holders. With the PayPal Business Debit Card you can do the following:

  • Use online and instore - anywhere Mastercard is accepted in the world.
  • Access money with your PayPal account instantly.
  • Withdraw funds from your PayPal account or check your balance at any ATM showing the Mastercard symbol.
  • Pay with PayPal wherever you see the Mastercard logo.
  • 0.5% cash back with no caps or limits for eligible purchases (Purchases with PIN / Signature / Contactless).
  • Zero FX and Zero monthly fees.
  • Flat £1 ATM withdrawal fee per withdrawal (worldwide).
    • In particular, we neither charge a cross-border fee nor a currency conversion fee for payments with your Card(s). In case the payment or cash withdrawal with your Card involves a currency conversion performed by PayPal, Mastercard’s foreign exchange rates at the day of settlement with the recipient’s bank will be applied. Please see Mastercard Currency Conversion Calculator.

I actually have just got mine, I get paid a fair bit in PayPal through my ebay shop and website and its always a matter of me transfering the money to my bank account, its so much easier being able to use a card and earn cashback using the money in my PayPal account.

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Are there other fees associated with normal use? (eg monthly fees, card shipment fees, etc)

From the quote provided it seems cashback only applies to customer present transactions (which, I suppose, makes perfect sense for them). Do I understand that right?

And, maybe more importantly, do you trust PayPal enough to leave money in your PayPal account for longer than absolutely needed? That would be the one thing that’d really stop me from using this card.

The only fee is the £1 ATM withdrawal fee.

Having access to the money on a card, is by far more reliable than withdrawing to your bank, randomly bank withdrawals can take hours, or a day, in fact they often state it will take up to 72 hours. With the card its instant access.

It’s not really a trust issue, PayPal is just as much regulated as banks and other payment providers, people just forget that it is a regulated payment services provider in the EU and operates on a EU Banking Licence issued in Luxembourg.

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I think it comes down to experience. For you, dealing with them regularly has built more trust, as you know they handle your money quickly.

For me, I’ve had numerous issues with them over the years, and I only use them when absolutely necessary.

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Yes, same for me. And I know a couple of friends’ businesses that had their PayPal account frozen for extended periods, in some cases with significant deposits.

You can tell me whatever you want about regulation etc. My and my friends’ experience is that once you are locked out, they are similarly unresponsive to monzo, while proper banks deal with those situations relatively reasonably (and are significantly less trigger happy in our experience).

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Not really relevant though, the fact is, this is about a cashback card for those that use PayPal, not for those that don’t like or trust PayPal.

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I would argue that PayPal were the original FinTech, and still the largest one on the planet.

:confused: How is it not relevant? I know some topics tend to go a little “off topic”, but discussing the company behind a new cashback card is pretty relevant to me.

It’s great you personally have a good relationship with PayPal, and I’m sure others who have had great experiences will also enjoy reading up on this.

But it’s like saying that a thread about Facebook releasing a new crypto currency is fine, as long as you don’t mention their horrendous spotty history on privacy.

Personally, I think it’s all relevant, but it obviously doesn’t take away from the actual product, which if you like PayPal, is decent enough!

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Every thread descends into people coming along hating the company, still doesn’t make it relevant.

I don’t know where you’ve got that from.

@nanos asked a valid question (perhaps, like him, I assumed that the vast majority of people saw PayPal as a pretty awful company).

Given the multitude of options available, using a PayPal card would be very very low down on my list of payment methods (given the reasons I’ve stated).

I think I was more interested to know that you’d had consistently good experiences with them, rather than the card, which despite being PayPal, is pretty common to see.

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How is explaining why I’d have reservations using a product and asking whether others share that reservation not relevant in a thread discussing said product?

Can you throw us a link?

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So just a little update, I’ve been using it for a few days.

Notifications are instant.
If you don’t have enough money in your Paypal account transactions are still processed directly from your back up card or bank, so you still get cashback.
It can handle active card checks and not deduct any money (apart from the likes of Amazon which actually charge £1).
All pending transaction show.
You get emailed each time you use your card, but you can turn that off. It also emails for all card transactions, so even £0 card checks.

Limits show clearly (account dependent apparently)
Your limits are £6,000.00 for purchases and £350.00 for ATM withdrawals.

You can close and cancel the card yourself and close the card account
You can view your pin
You can report a card lost or stolen.
You can report a damaged card.

Cashback is tracked as transaction clear and you get that paid into your paypal account at the end of each month.

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