PayPal Access Card to become available to all

PayPal Access CardWe’ve got some welcome news on the PayPal Access pre-paid Mastercard for UK users – we’re fully expecting it to be widely available to most PayPal customers in the near future.

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

Full Card

Standard Card

Restricted Card

Point-of-sale* ATM Point-of-sale* ATM Point-of-sale* ATM
Single Transaction Limit £1,500 £250 £1,000 £250 £600 £250
Daily Limit £1,500 £250 £1,000 £250 £1,500 £250
Weekly Limit £3,000 £1,000 £1,500 £500 Same as Annual
Same as Annual
Annual Limit N/A N/A N/A N/A £1,600** £600
* 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.