PayPal Access Card to become available to all
Of course the card will only be useful for PayPal users who hold a balance on their PayPal accounts, but if you’re a seller and in receipt of regular funds it’s a great way to access them immediately and spend anywhere you see the Mastercard symbol.
In preparation PayPal have rewritten the terms and will publish them on the 11th of March to replace the current PayPal pre-paid Mastercard Agreement.
The main change coming to the agreement is that there will be three levels of card, Full, Standard and Restricted. If you currently have a PayPal Access card there should be no changes that affect the way you use your card. The main difference is merely the introduction of a “Standard Card”, in advance of issuing them to new customers.
|Type of Limit||
|Single Transaction Limit||£1,500||£250||£1,000||£250||£600||£250|
|Weekly Limit||£3,000||£1,000||£1,500||£500||Same as Annual
|Same as Annual
|* includes purchase of Quasi Cash.
** includes ATM withdrawals.
There is also a new restriction which prohibits the card being used for online gambling.
Should you be interested? Yes – apply for a card as soon as you can. That way if you’re out shopping and you get an email on your smartphone letting you know a customer has paid you can spend the money instantly. No more waiting to log into PayPal to do an instant transfer to your bank account before you can access your funds.