Wednesday, May 15, 2013

Does PayPal Accept Prepaid Credit Cards?


Adding Funds
PayPal has partnered with MoneyPak to use the MoneyPak prepaid debit cards for funding PayPal accounts. When you have cash and you want to transfer it to your PayPal account, purchase a MoneyPak card with your cash then input the MoneyPak card number into the "Add Funds" section of your PayPal account. Your funds are available immediately after submission.
Making Payments
If you receive an invoice or money request from a PayPal user that includes the option to pay with your credit card instead of your PayPal account, PayPal will accept the card number for payment processing provided that your prepaid card has a Visa/MasterCard logo. Prepaid cards with a major credit company's logo are processed by most vendors as a traditional card.
Profile Credit Cards
PayPal accepts prepaid credit cards in the Add/Edit Credit Card section of your profile as long as the prepaid card is issued by a major credit card network such as Visa or MasterCard. The cards added in this section are used for identity and address verification, as well as backup funding for your PayPal account. Register the card to your billing address for verification purposes.
Considerations
Many prepaid cards include monthly service fees and fees for deposits and other transactions. Payments and charges from PayPal are subject to these fees as well. Verify the fee structure for your card before adding it to your PayPal account. The MoneyPak cards are available at many major retailers. You are subject to the retailer's processing fees for adding funds to your MoneyPak card.

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