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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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.

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

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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How are you finding your PayPal card @daedal?
I’m considering it alongside my starling business account, to nab a few £ in cashback.

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I’ve made over £20 cashback so far so it’s working well, instant notifications works. It does proper active card checks where it doesn’t take the £1 from your account. No acceptance issues, but to be honest I didn’t expect them to be, after all paypal know how to do payments systems.

They keep adding new features, like you can block the card now, you couldn’t at launch.

I’ll order one to. Sounds pretty good

Set up the card to use your starling account then everywhere you would normally use starling use PayPal and get the cashback. They take the money from your bank, although they round it up to the nearest £1, I’ve not had an issue doing that though. Makes my starling nice even figures lol

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That’s what I’d thought. It says it round it up to the next £5 so there’s always a balance in your PayPal account.
Can this card be added to gpay?

You can use your PayPal account with Google Pay but the card doesn’t work yet. Apparently its coming though.

So currently no cash back through Google pay?

Not right now.

I wonder if theyll introduce a personal version too?
Something’s tells me the card handling rate can be higher for a commercial card than a personal one so maybe that wouldn’t be workable for them.