Published on July 17th, 2018 | by Chuck11
Paypal Business Debit Card Now Reserved only for Paypal Business Accounts
A reader received an email from Paypal regarding their Paypal Business Debit card (PPBDC) on a personal Paypal account advising that personal Paypal accounts can no longer have the PPBDC. Personal Paypal accounts will only be able to get the Paypal Cash Mastercard which does not earn 1% back on purchases.
I assume others got or will get similar emails. The email also mentions an offer of $5 cashback on each your first three $50+ purchase on the new Paypal Cash Mastercard.
It’s always been possible to get a PPBDC on personal Paypal accounts if you’ve received $500+ in the account within the past 30 days. Seems Paypal is now stopping that method, reserving PPBDCs for business Paypal accounts only.
It’s fairly simply to open a Paypal business account as a sole proprietor to avail yourself of the PPBDC. Lots of simple eBay businesses have a Paypal business account.
The PPDDC is interesting for the 1% cashback on debit signature transactions. There may be some online debit purchases which earn 1% back at little cost, e.g. paying taxes with a debit card has a much smaller fee than credit and it might (?) work to earn 1% back on PPBDC.
Hat tip to reader Vic