Great Idea from Paypal (About time)

[UKBusinessLive]

Did you know, that if you have a paypal account you can now get top up Visa card



The PayPal Top Up Card is a reloadable prepaid card, which gives you the control to pay as you go. It works in a similar way to a debit card and you can use it to shop online, on the high street or overseas, almost anywhere you see the Visa logo.

The Top Up Card offers a safer alternative to carrying cash and works with Chip and PIN technology to help protect you from lost or stolen card fraud. You’ll need your 4-digit PIN number whenever you use your card.

You buy the PayPal Top Up Card for ?4.95, (Will be in Dollars in the states) which you can pay via your PayPal account or from your first top-up amount (a small fee is charged if you are not topping up from a PayPal account). Once you’ve loaded the card with funds, you can use it almost everywhere that you see the Visa symbol – including cash machines. And when you’re card is running low, you can simply top it up again.

Now the thing that i like about this is that when you recieve funds in your Paypal account, you can imeadiately transfer what you want to your card, and you can spend it same day Anywhere you see a Visa sign

Before i had to wait for the funds to transfer to my bank account and then get to the bank to................

This is so much quicker and better, plus if your paypal funds run low, you can top up your funds from a variety of places, so you can continue to use your card like a credit card (without the Credit, Statments, High interest etc...)

Anyone else have one??

[Paul M]

Prepaid cards are not new, they have been around for ages, but tbh, I completely fail to see any use for them, may as well get a proper visa/mastercard. Many bank accounts (such as Lloyds / Nationwide etc) supply a visa debit card anyway.

[lasto]

top up cards are for those who are unable to get a bank account - theres still loads of people without bank accounts.I would never use them but i have enough cards but the idea is good esp like UKBL says `you can withdraw your money the same day`

[UKBusinessLive]

Originally Posted by lasto

top up cards are for those who are unable to get a bank account - theres still loads of people without bank accounts.I would never use them but i have enough cards but the idea is good esp like UKBL says `you can withdraw your money the same day`

I'v applied for mine, as when i get paypal payments, normally it runs into a few hundred pounds, before i had to get an amount transfered to my ban which took nearly a week, now i can just transfer it from my paypal account to my card, and spend it anywhere same day.

Paypal have got on my wick a few times before but this is a great idea from them (They must have some new people on board!!)

As a rule i never use my normal credit cards to by online, only Top up Cards, its a lot safer.

[King Kovifor]

My debit card is actually a MasterCard I believe.

[Dean C]

Originally Posted by Paul M

Prepaid cards are not new, they have been around for ages, but tbh, I completely fail to see any use for them, may as well get a proper visa/mastercard. Many bank accounts (such as Lloyds / Nationwide etc) supply a visa debit card anyway.

Even talksport do one of these

[Caddyman]

I have a debit card from my bank and a debit card from paypal. i can use both the same way, with a PIN, and have instant access to any monies in either account. and the PP debit card is free...

[unp]

I got one.You can either transfer funds from the paypal account or just get it loaded at a PayPoint.

[lasto]

2 pound to withdraw from cash machines and certain banks may charge more.

ALso :

Claims relating to the Card won't be covered by the Financial Services Compensation Scheme or any other compensation scheme. In the unlikely event that the Bank were to become insolvent and unable to satisfy claims made against it for funds held on a PayPal Card, these funds may become valueless and unusable.

[UKBusinessLive]

I think people are missing the point, its not to do with the fact that its a prepaid card, but that the minute i get paypal funds, i can add it to the card right away and use that card (visa) to purchase anything i want in an instant.

Before i had to wait 4 to 5 days for it to transfer to my bank, before i could use it, now i can get paid at 3pm and spend it via visa anywhere in the world that takes visa cards.

On my Business site, i had the option of either going with worldpay for my merchant account to be able to take credit cards, they take a percentage plus you don't get your money for 30 days or so, So with paypal, someone pays me ?480, ?16 or that are Paypal fees the rest is mine, right away, as i add it to my visa card.

You need to look at all the options before deciding, but even with the ?16 fee, Paypal were cheaper and i got the cash 30 days quicker than had i gone with a merchant provider.



I agree Prepaid cards have been around for a few year, and even earlier in the states, But the one from Paypal actually lets you transfer your Paypal balance right away, and thats free to do that too