anyone with PayPal debit card?

[MyGoofy26]

I just signed up for the debit card, it's being sent to me . . . but I was wondering for those of you who have it already, if you can spend only the money that's sitting in your PayPal account? Or will it automatically draw from my bank account like it does when I pay with PayPal? Or perhaps that was all in there somewhere in that info I read through and just missed it, haha.

I pay for just about everything using my bank's debit card, but with this 1% back on purchases (processed as a credit, I know) I'm thinking I might start using this one instead. Unless of course I have to keep transferring money to it - that might get a little old. But if it will automatically debit the account it's linked to. . . well . . . that would work all too perfectly

 

[brandip22]

Hey MyGoofy- I Have one, but it doesn't transfer from your bank account- you can only use what's already in your bank account- sorry!

 

[RichNKatHolly]

You can transfer money into your paypal account from your linked bank account before you go. But the other poster is right, you can only spend what is sitting in the paypal account at the time you use the card. The 1% back was nice when I had an account with them.

 

[MyGoofy26]

Thanks for responding. I had a feeling that it wouldn't work the way I was hoping (my luck never runs like that, haha)

 

[NewEnglandDisney]

I love my PayPal debit card - but here's a tip : when you go some place like a grocery store or gas station to use it and they ask you "credit or debit", always say credit. If you put it through as a credit card transaction there is no fee, but if you do it as a debit card PayPal will charge you $1 like it does for ATM transactions.

N.E.D.

 

[RichNKatHolly]

I love my PayPal debit card - but here's a tip : when you go some place like a grocery store or gas station to use it and they ask you "credit or debit", always say credit. If you put it through as a credit card transaction there is no fee, but if you do it as a debit card PayPal will charge you $1 like it does for ATM transactions.

N.E.D.

Good post - I totally forgot about that!

 

[rflorek]

I love my PayPal debit card - but here's a tip : when you go some place like a grocery store or gas station to use it and they ask you "credit or debit", always say credit. If you put it through as a credit card transaction there is no fee, but if you do it as a debit card PayPal will charge you $1 like it does for ATM transactions.

N.E.D.

I use mine as a debit card at the post office all of the time (when mailing my eBay packages) and have never ahd $1 charge on my debit card. Of course, you don't get the cashback with the debit card - you'd have to use the charge option.

Robyn

 

[RichNKatHolly]

I use mine as a debit card at the post office all of the time (when mailing my eBay packages) and have never ahd $1 charge on my debit card. Of course, you don't get the cashback with the debit card - you'd have to use the charge option.

Robyn

I was always charged. Just check the fee column next to your purchase on the paypal website to be sure. If it's no fee, you are lucky! Do you keep a high balance in paypal?

I don't use them anymore, but was just curious.

 

[MyGoofy26]

I love my PayPal debit card - but here's a tip : when you go some place like a grocery store or gas station to use it and they ask you "credit or debit", always say credit. If you put it through as a credit card transaction there is no fee, but if you do it as a debit card PayPal will charge you $1 like it does for ATM transactions.

N.E.D.

Thanks!! I knew that you wouldn't get the cash back unless you used it as a credit. . .didn't even think about the ATM charge. Knowing me I wouldn't have thought twice about it and ended up with a bunch of fees charged at the end of the month.

 

[rflorek]

I was always charged. Just check the fee column next to your purchase on the paypal website to be sure. If it's no fee, you are lucky! Do you keep a high balance in paypal?

I don't use them anymore, but was just curious.

I just went in to double check, and no fees with Post Office purchases! I don't keep a high balance in there (never more than $50, and usually closer to $20). I transfer to the bank, and then send it off to ING for Disney savings!

Robyn

 

[polkadotladybug]

I've had one for about four years now. I love it! As someone else said you can transfer money into Paypal if you want work it that way, but Paypal will shave off a transaction fee of the money (I think it's 2.9%?), so I probably wouldn't go that route.

I would definitely use it as a credit card anywhere you can! You do get a percentage back - very little, but every little bit helps!

Supposedly Walmart started something a while back where you could not use it as a credit card (or any debit cards as credit cards). I tried mine as a cc (to get % back) and they gave me a hassle. I try to avoid Walmart at all times anyway - but I'm not sure if they do that still. It doesn't seem "legal" to me - but what do I know.

The best thing about the card is that once a buyer pays you - BOOM - that money is in there! Oftentimes I will need gas, groceries, etc right away and will be waiting for the Paypal payments - and they are right there immediately after the person pays you. Some payments you will need to approve (if the person has an unconfirmed address and you have your Paypal set on ask you first) - so check it periodically. I will often have payments awaiting approval which ups my Paypal account (like finding an extra 20 in an unused purse).

It's so darn convenient! I don't know what I'd do with Ebay and the Paypal debit card! I'm a stay-at-home mom and this is my money that I don't have to account for down to the penny.

 

[cinamin27]

I've had one for about four years now. I love it! As someone else said you can transfer money into Paypal if you want work it that way, but Paypal will shave off a transaction fee of the money (I think it's 2.9%?), so I probably wouldn't go that route.

There is no fee associated with adding funds to your paypal account from a linked bank account. But like the poster said, it might get old adding money all the time so you can use paypal for the 1%. + it takes about 3-5 days depending on your bank & what day of the week you do the transfer.

Also, I had kept money in my paypal account + added more funds to pay for my daughters summercamp so I could get the hefty cash back bonus & was nervous for the week & 1/2 that it took for the camp to debit my account. I hated having that much 'cash' on hand.

 

[polkadotladybug]

Really?? No fees for adding money? That's great to know - now I'll know in case we do a deposit or something. (hey - every little bit counts!)