KatNap
|
posted on August 25, 2001 11:48:26 AM
What exactly is the Paypal Debit Card for?
I thought it was just a debit card to use against your Paypal account, but I saw on a submission to a dollar saving e-magazine I subscribe to that she was using it as a MasterCard credit card and getting 1.5% cash back??? (She left no e-mail address so I can't ask her).
I never activated my Paypal card since I thought it was just a debit card, but a cash-back credit card would appeal to me since I use a credit card in lieu of carrying cash around (paying off the balance every month).
Can you use it as a MasterCard credit card?? If so, do you first have to be registered with their business account?
I looked on the Paypal website but couldn't find an answer to my questions.
Thanks for any help!!
|
mrspock
|
posted on August 25, 2001 12:08:52 PM
IT acts like a master card in that when you use it as a credit card you get the privalges associated with a credit card and don't have to enter a Pin number
It is not however a credit card in that your spending is limited to the balance in your pay pal account no credit is extended.
spock here......
|
hwahwahwahwa
|
posted on August 25, 2001 12:16:10 PM
in other words,deposit the fund in my paypal account first before i go shopping with my paypal debit card?and get that 1.5 % cash back?
say i put 100 in my paypal account,buy an item for 100 with the card,lo and behold,i will have 1.50 left in my balance??
so this is an incentive for leaving money in your paypal account-keep it there you get money market rate interest,spend it and you get 1.5 % cashback??
what happens if you donthave any money??or cant afford to keep it in paypal account?
|
mrspock
|
posted on August 25, 2001 03:15:04 PM
I don't think I would deposit funds just to go shopping
I usally end my actions sunday night so lots of times I have several hundred dollars in my pay pal account on monday With the card I can use it instanly to pay postage,buy gas ,buy food ect ect.
If I reguest to transfer funds it takes several days to show up in my bank account
The big problem is you have to keep track of funds availible
You would be able to overdraw it since a lot of places don't put the charge thru instanly but only charge .01 to check the validity and then send the total amount thru later.
I don't know what happens if you overdraw as I always work to 20.00 buffer.
spock here......
[ edited by mrspock on Aug 25, 2001 03:17 PM ]
|
musiclady6
|
posted on August 26, 2001 12:23:41 PM
I know that there are a lot of Paypal haters out there, and I understand why. However, I usually have around $40-50 in my account, and I really love using the card as a Mastercard at the post office when I'm mailing several packages. At least it gives me a few cents back from everybody's fees. I've also been using it for gas money when I'm making the rounds of Friday/Saturday yard sales.
|
capotasto
|
posted on August 26, 2001 12:32:33 PM
"The big problem is you have to keep track of funds availible "
Yah, you have to be a responsible person, that is really a problem with a debit card.
Many banks issue debit cards. Many people who have no credit and can't get a credit card Can get a debit card. Many places will take a debit card but not a credit card since a debit card is like cash, you can't make a chageback.
|
dman3
|
posted on August 26, 2001 12:35:58 PM
That is not True , YOu CAN make a charge back on a debit card when used as a credit card you have all the same privilages as any credit card users with out paying the interest and no monthly bill.
at least my mastercharge debit cards work this way , not sure about visa..
In fact my debit card is linked to a $1000 line of credit as well with my bank and I am one of the people who dose not qualify for a credit card at this time.
http://www.Dman-N-Company.com
Email [email protected]
[ edited by dman3 on Aug 26, 2001 12:37 PM ]
|
avaloncourt
|
posted on August 26, 2001 04:44:04 PM
"That is not True , YOu CAN make a charge back on a debit card when used as a credit card you have all the same privilages as any credit card users with out paying the interest and no monthly bill."
Debit cards do not hold all of the same privileges as a credit card. Debit Cards actually hold very few. You have no guaranteed legal buyer protection that credit card holders enjoy. Debit cards are only a medium to withdraw money.
Here are several resources which will explain that to you...
http://www.bankrate.com/brm/news/cc/20010706a.asp?prodtype=cc
http://www.consunion.org/finance/debit-alert.htm
http://www.nclnet.org/debitbro.htm
http://www.corporatetravelsafety.com/ATM-Debit%20Card%20Fraud.htm
http://www.minnbankcenter.org/articles/articl60.htm
http://www.ideamarketers.com/library/article.cfm?articleid=8941
DO NOT ever think that debit card usage offers the same protections as a credit card. That line of thinking is absolutely wrong.
[ edited by avaloncourt on Aug 26, 2001 04:45 PM ]
|
dman3
|
posted on August 26, 2001 05:03:38 PM
I dont have to think I know I have it in writeing !!!
MY Master charge debit card offer charge back priviages Just like the credit card.
Maybe all don't I agree but many do, mine is tied to a line of credit which makes it both debit and credit so this could be the difference.
http://www.Dman-N-Company.com
Email [email protected]
|
MrsSantaClaus
|
posted on August 26, 2001 07:00:11 PM
You cannot overdraw this account - you can only spend up to the amount you have in it or it is declined.
I used my Paypal card when I was on vacation. Since I had not used my Discover card in a while when they started seeing charges coming thru from a different city they immediatlely put a block on my card - leaving me looking like an idiot. 
BECKY
|
hcross
|
posted on August 26, 2001 07:38:00 PM
Sure you can overdraw it if you are not careful, I gought gas three days ago, and the only charge that has gone through on Paypl so far is the $1 hit the gas station put on it to authourize it. If I spent the funds that I knew were meant for the gas, when that charge came through, it would overdraw my Paypal account.
I have had a few transactions with two banks and debit cards where I did not receive the merchandise I paid for. Both banks credited the amount back to my checking account after I filled out some paperwork. I guess it all depends on the bank.
|
soldat2
|
posted on August 27, 2001 05:16:00 AM
>What exactly is the Paypal Debit Card for?<
Anything that you want.
You are limited to the amount of $ in your account.
If you use it as a debit card....
...enter a pin number....
...you DO NOT get anything back.
If you use it as a CC...
...SIGN for it....
...you'll get 1.5% back in your account.
The PayPal debit card is very handy and works great. Because it offers you no 'line of credit' it really cannot be abused like a regular CC. (although some charges show up as 'pending')
NOTHING but cash is 100% safe from a chargeback or something.
(however the sky is not falling as some would have you believe)
|
