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PayPal Launches Prepaid PayPal My Cash Card

December 21, 2012

PayPal has launched a fully branded cash loading card, the PayPal My Cash Card, that will enable users to add cash to their PayPal accounts without the need for bank transfers.

PayPal has launched a fully branded cash loading card, the PayPal My Cash Card, that will enable users to add cash to their PayPal accounts without the need for bank transfers. The company says the card is available now at 30,000 locations nationwide, of which 10,000 are Dollar Generals.

When users first purchase the card, they must activate it by purchasing the dollar amount they want to load, after which users will need to log onto the PayPal My Cash Card Web site and load funds directly into their PayPal account using the PIN number provided on the back of the card. Users can then check out with PayPal at any of the online merchants’ Web sites where PayPal is accepted. Users must pay a $3.95 activation fee, and can load up to $500 per day with a maximum of $4,000 per month. Card holders are not subject to a credit check to use the My Cash Card, but need to give their name, address, date of birth, and Social Security Number.

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