PayPal announce the launch of their new prepaid debit card in the UK today. It can be used for purchases like an ordinary Visa debit or credit card, but has to be loaded with cash first, either from your PayPal account online, or with real cash at a Post Office or via the PayPoint network.
PayPal advertise the card as ideal for people on a strict budget, or who don’t have access to credit cards to shop online, but it will be just as attractive to ecommerce merchants. Withdrawals made from your PayPal account to your PayPal Top Up Card are available for use the following working day, a vast improvement from the normal 4 or 5 working days PayPal funds normally take to hit a bank account. The card will be a superb way to speed up your cash flow.
There will be a one-off fee of £4.95 to purchase a card. Loading cash from your PayPal account online is free, but cash top-ups carry a £1 fee, and ATM cash withdrawals are £2 a time.
17 Responses
Excellent idea for the current climate, a good way of saving for Crimble too!
I think I’d prefer to wait 3-4 days for a free transfer to my account than pay £2 per cash withdrawal personally.
Wow, they are really working on the damage control now.
Earnings are falling big time and they are scrounging for every last cent.
Has anyone tried to contact paypal about this?
I have rung them this morning, after reading this, only to be told that it is currently only available in the US. Did the article mean that they are going to launch it in the UK in the future? I read it to mean that it was actually launching now. Paypal customer services didn’t seem to be aware of anything!
It would be great to hear if anyone has got anywhere with this.
Thanks,
Angela.
One small caveat (which may turn into a great big caveat): under the terms of use section 2h, “mail order” isn’t permitted. We’re trying to clarify whether this means all cardholder not present transactions – if it does, that obviously means you can’t use it on the internet.
Edited to add: “the card can be used to make purchases online. Therefore, section 2h just refers to things like offline catalogue purchases.”
Angela, the information I’ve received says available in the UK from 1st August.
Hi,
Thanks for the reply Sue. Do you have a link to the information you received? Was it from paypal? I wouldn’t be surprised if paypal customer services are one step behind!
Thanks
Angela.
Angela, there’s a link in the post.
Hi Sue,
So there is!!! Thanks for your help. I can’t believe that I have spoken to about three different paypal departments today and they didn’t know anything about it!
Thanks again.
Angela.
I can’t believe that I have spoken to about three different paypal departments today and they didn’t know anything about it!
I can 😉
#11 What Sue said.
I just ordered mine yesterday 😀
Its on its way..
Official launched in the UK and the card is supplied by the Royal Bank Of Scotland plc 🙂
Wooo finally, waited about a year for this since they launched it in the US!
Hi,
Just followed the link and ordered mine. Looks straight forward. I look forward to receiving it in 5 days!
Thanks for your help.
Angela.
Has anyone recieved this card yet???
Looks pretty cool
Recieved the card a couple days ago. Been playing with it ever since. Only downside is the funds still take a day to reach the card 🙁 Not at all handy if you need cash quickly.
I finally received my card the other day but was extremely annoyed when I tried to top up at a paypoint. I tried twice and both times the machine would not accept it.. And yet the official site and documentation etc clearly states paypoint as a method of topping up.
Has anyone actually managed to top up the card successfully by this method?
Im a bit reluctant to top it up by any method now… what if i finally load it with £20 only to always be turned away when i try to spend it? My experience so far does not fill me with confidence.
#5
Sue, the statement below is from the FAQ, I read that as ok for use on the internet.
What is it?
It’s a reloadable prepaid card and although not a debit or credit card, it can be used in a similar way to shop online, over the phone, or in store.