Posted by Chuck on March 11, 2019
Manufactured Spending

Published on March 11th, 2019 | by Chuck

81

Paypal Business Debit Card can only be Funded with Bank Account Starting in March

Paypal just sent out an email to their Paypal Business Debit cardholders indicating that beginning March 11 it will only be possible to have the backup funding on the card (in the event there are no funds in the Paypal account) come from a bank account. Previously, it was possible to link a Paypal/Ebay credit card as well.

Beginning March 11, 2019, a linked bank account will be the only backup funding source supported for your PayPal Business Debit Card. Any other currently linked backup funding source will automatically be unlinked from your PayPal Business Debit Card, including the PayPal Extras Mastercard, PayPal Smart Connect account, PayPal Cashback Mastercard, and eBay Mastercard.
PayPal encourages cardholders to link a bank account so purchases can be made even when funds are not available in your PayPal balance.

End of an era. If it had to end, I sorta like the way it’s ending. Much calmer ending than anticipated.

Hat tip to reader Audrey



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Jeremy
Jeremy

How can you like this?

Abe
Abe

This blows. A lot of my MS depended on the credit backup for the debit card.

anonymous
anonymous

+100. I paid rent, mortgage, and taxes this way.

Jr
Jr

I know right…very few ppl know bout it. Wink. This was GOLD for MS

Bo knows
Bo knows

damn, I didn’t even know it.

Wilson
Wilson

not looking forward to going back to checks now that cashback does not cover the fee for paying my tax extortion bills with a card

Dylan
Dylan

You can use a discover debit card and use pay1040.com for a flat fee. The amount of cash back is neutered but at least its something.

Jeremy
Jeremy

PayPal debit still gets 1%. It’s still profitable, but only about 1/3 as much.

Wilson
Wilson

Thanks, but I meant my city taxes, which are more frequent, and have a 2.95% card fee

Jeremy
Jeremy

For debit too?

Lrdx
Lrdx

Can’t you use Plastiq for that? (Does the city accept checks?)

Hoang Nguyen
Hoang Nguyen

The end of the era… Most of my Plastiq MS depends on this…

Dave
Dave

Always though that if you linked the credit card to it and abuse it, PP will shut you down. I only used this a few times but valued having my PP account intact so never pushed it.

Prometheus77
Prometheus77

Was using this in conjunction with Citi DC and eBates at GCM for a total of 5% cash back on $500 VGCs for about a year. Sad to see it die, but was way too good to last.

Angelika
Angelika

Few years on nice cash back! It was 5% everywhere (4% on paypal extras + 1% paypal debit for signature based purchases)

Jamie
Jamie

How did you get 4% on PayPal Extra? I think you earn 3 points per $1 purchase. Points are worth $0.0083 cash back or $0.01 if redeemed for the gift cards that are in the “featured category” = 2.49% cash back or 3% in gift cards.

Trevor
Trevor

Also wondering

Jeremy
Jeremy

You can redeem for gift cards frequently at 1:1 and use at Amazon, Target, Walmart.

Ron
Ron

It was obvious that it was too good to be true. Good thing I didn’t apply for a paypal credit card.

Peter
Peter

Literally just got the PayPal credit card a few weeks ago. Useless now.

Mimi
Mimi

DH was contemplating to apply for a PPEMC but I’m sure he won’t waste HP for a useless card.

Mark
Mark

When did they send this email out? I have not received it yet.

Mimi
Mimi

I got it this morning, sad news but all good things must come to an end. I’m looking forward to the next loophole.

Charles Mann
Charles Mann

Paypal will be making lots of changes now that it’s not the primary Ebay bank. I expect for it to merge or be swallowed by a bigger bank very soon.

Ferris
Ferris

Paypal is a lot bigger company than you think. By itself, it is 1/3 size market cap of JPM which is the largest US Bank by assets.

Dylan
Dylan

I still trust JP morgan far more than i trust paypal.

JP morgan wont freeze or hold my funds for 21 days because I made a few large ebay sales. This has happened to me many times. Its extremely annoying.

I always keep $0 in paypal at all times. Your paypal balance is also not FDIC insured so in the event paypal goes bankrupt they can legally use your money to pay back their creditors.

Point is I dont like paypal, but ill use them if it means they lose money (like this 3% thing). I will do my best to be an unprofitable customer to paypal because thats even worse than me not using them at all since they lose money from me ;).

GradCashGrab

Ever since they held my funds for 180 days with no recourse despite sending in all proper documents, they, and Ebay, are on my shitlist too and I’ll do the same as you stated, @Dylan.

Mimi
Mimi

Back in July 2017, PPEMC removed the cap from 50K pts to unlimited CB. I didn’t waste time since then to max out my CL and earned $500 or more CB each month. This was the easiest MS for me and was hoping it’ll go on and on since it’s one of those seldom talked about online but alas! all good things come to an end, I enjoyed the ride the last 20 months.

Josh
Josh

Same here! It’ll be a busy next few weeks though 🙂

Mimi
Mimi

Yes….pedal to the metal with the last hurrah! : )

Dylan
Dylan

I was only given a paltry $500 limit and my payments took 7 days to free back up my balance. I basically couldnt use this card for MSing at all. Now its ending just before it couldve gotten good for me :(.

DocPost
DocPost

The day they removed 50K limit I knew the end is close.

AMBER R CHERRY
AMBER R CHERRY

This is a worthless service for businesses. What the hell is the point? It’s pretty much already doing this anyway. It caused me to go negative on a business trip. Sick of discrepancies.

Vic
Vic

End of an era indeed! Good stuff while it lasted

Jr
Jr

Noooo!!!!! The only way that was easy to get 3× on everything. Exceptionally valuable underrated card combo.

raekwon
raekwon

Haven’t gotten this email yet. Odd.

Abe
Abe

Make sure you check in your other email tabs or folders. I got it under the “promotions” tab in my gmail not the “primary” folder or tab where most all emails come through.

raekwon
raekwon

Yeah, I know how to search the entirety of my email. 😉 It hasn’t come to me yet. It’s possible that it’s because my current backups are only bank accounts, so it’s moot.

Jeremy
Jeremy

Me neither.

Mark Williams
Mark Williams

I did not get the email either and I use a Paypal Cashback Mastercard as a backup. Are we sure that this will apply to everyone?

Mispay
Mispay

I have not received an email and others I know that are working this angle have not received any emails. Something odd about that.

Mimi
Mimi

I got the email but my backup CC hasn’t been removed up to now and I made a purchase on the 19th that has now posted on the CC. Maybe some accounts were grandfathered to the old rule?

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