Contents
The Offer
No direct link to offer, sent out via e-mail
- Some PayPal Business debit card holders are being offered a ‘Choose your offer’. These replace the standard 1% cash back, if you don’t make a choice you’ll keep 1% back. Offers are as follows:
- Spend $1,000 and get $20 cash back
- Earn 1.25% cash back on all purchases
Our Verdict
At the very least select the 1.25% offer as it’s better than the 1% standard back. Previously the spend $1,000 deal has been $40 back, now it’s only $20. That works out to be 2% back if you spend exactly $1,000.
Hat tip to reader Daryl J & MtM
Are there any anecdotal or historical data point as to the spend limit for the paypal debit card? I usually transfer funds from bank account into paypal balance first and then put the spend on the paypal debit card? Is $100k too much as to cause attention? Has anyone attempted to transfer $50k-$100k from bank into paypal balance before and then spend those $100k on the debit card across a month or two?
Can you afford to float $50-100k for 6 months if the account is limited? Normally I’m all for gaming but… with PayPal… that’s high risk.
That’s a good point. Obviously trying to limit account restrictions. Can float 50-100k but the concern is that I’d be missing out on interest on the fund meanwhile. And the other concern is account shutdown losing paypal forever
Does the spend $1000 get $20 back offer require $1000 or more in one transaction? I did not get $20 for smaller transactions that cumulatively added up to $1000.
No, pretty sure I had some smaller and made it past the $1000 on another day. Immediately received cashback then.
Added the Paypal debit card to the Cash app but when I try to send money to someone else it gave some error, like Bank declined or something like that. I made sure I have over $1K in the corresponding Paypal acct.
just to clarify, you added the biz debit or the personal debit? the cash app won’t let me add the personal, but it let me add the biz and i was able to load funds and pay people without any issues.
I’m pretty rusty on PP mechanics, hoping for some help. I got the $20 per $1k offer and activated it. It’s working, in the sense that $20 credits to the account are being posted consistent with spend. I had a pretty large PP balance that is now close to zero. I have tried to add money to the PP account via link to bank account, but PP seems to be blocking. Question: If & when I charge amount that brings PP balance negative, will PP automatically debit/move money over from my bank account? Any other pointers? THANKS!
You need to enable backup funding, but yes they will automatically debit from bank to cover the debit card purchases. I seem to recall a low daily limit on backup funding but I can’t find the limit anywhere. I did $1-2k without issue.
I got a weird choice of offers: 1% cashback on “all purchases”, or the normal 1% cashback on… purchases processed as credit. So no bonus cashback at all, but reading the fine print it looks like “all purchases” means I can get cashback on normal debit with PIN:
“Transactions eligible for bonus cash back include: credit transactions which you sign for and which are processed by Mastercard; online transactions processed by Mastercard; purchases processed via a debit network (including PIN-less debit transactions); and phone transactions processed by Mastercard.”
Also includes a note that purchases of cash equivalents aren’t eligible, but I’m going to do some gentle testing to see how well that is enforced…
still grandfathered in the 1.5% … knock on wood
Would like to point out that you could potentially earn more than 20 by selecting the 20 per 1,000 offer. Doesn’t mention limit, but it does offer insight to how it works. Terms from offer as follows:
Cash back offer valid from July 2, 2020 through September 30, 2020. Valid only on a chip-enabled PayPal Business Debit Mastercard. Your account with PayPal must be in good standing through the reward deposit. $20 cash back will be earned when you make $1,000 in purchases with your PayPal Business Debit Mastercard. An additional $20 cash back will be earned for each subsequent $1,000 in purchases. For example, spend $1,000 earn $20. Spend $2,000 earn $40.
Did you get more than $20 of cash back?
“Previously the spend $1,000 deal has been $40 back, now it’s only $20.” When was it ever $40? I had never seen that. Does anyone have a link or something with information on that past offer?
https://www.doctorofcredit.com/ymmv-paypal-business-debit-card-choose-your-offer/
Unrelated to this deal but I had a surprise from PayPal today and have no idea why/how. I placed an +$100 order on a website, used PayPal checkout with my Discover It card (I don’t think it mattered which CC since the discount was applied with any CC on file), and a $5 off “special voucher” was applied to my order. No notification whatsoever of when/where the voucher came from and I didn’t view it in my Wallet before ordering to see if it had any details of how I got it. I was in a rush to order and got too excited to see another $5 off.
PayPal had no string attached $5 off once or twice before
Tried the exact same steps and order with a second account but no dice. Not sure if it was random or something triggered it.
thanks! i really only got 1 offer since mine included 1% on all purchases. i think the diff is that it doesn’t normally include debit? i chose the $20 for every $1,000 and will test a rent payment through a payment processor.