virtual paypal card question..

Live forum: http://forum.freeipodguide.com/viewtopic.php?t=38701

MarcHart

05-05-2006 05:48:25

when you get a virtual paypal card, is it like a normal prepaid card? or is it like a credit card and allow you to go over the amount you've deposited in it? if it does, is there an overdraft fee? or is it like a prepaid where it just denies transactions that you don't have funds in to pay? thanks to anyone who can help

EatChex89

05-05-2006 08:54:20

the virtual [b9c3688cbda]debit[/b9c3688cbda] (key word) card, is just that a debit card.

It is similar to a prepaid card, you can only use the money inside your paypal account.

Now, if you get the physical debit card and then apply for buyer credit, [i9c3688cbda]then[/i9c3688cbda] you can use it as a credit card and spend more than what you have.

I hope this clears up some issues for you.

unknown uchiha

05-05-2006 14:17:58

It denies transactions which you have insufficient funds to provide for, plus it doesn't have the "Security code" in the back so sites that require that to make a purchase are a no-go.

dmorris68

05-05-2006 14:23:16

Or you can get the physical plastic PayPal debit card that has the 3 digit code on the back. You'll have to upgrade your account to the money market account, but it's free and you get cash back dividends and a pretty high interest rate on your deposit (currently 4.05% I think).

compuguru

05-05-2006 15:04:24

Beware, if they are able to place a $1 authorization charge on your PayPal account, they can use that authroization to charge whatever they want before it expires, possibly bringing you down into the negatives.

EatChex89

06-05-2006 00:25:20

[quoteb0dc29136f="dmorris68"]Or you can get the physical plastic PayPal debit card that has the 3 digit code on the back. You'll have to upgrade your account to the money market account, but it's free and you get cash back dividends and a pretty high interest rate on your deposit (currently 4.05% I think).[/quoteb0dc29136f]

the interest is 4.58% and keeps rising.

MarcHart

06-05-2006 16:43:09

great- thanks for all your help!

OldManWrigley

06-05-2006 16:47:11

[quotec65e88394a="EatChex89"]the virtual [bc65e88394a]debit[/bc65e88394a] (key word) card, is just that a debit card.

It is similar to a prepaid card, you can only use the money inside your paypal account.
[/quotec65e88394a]
While that's what i thought, it's not quite the case. If you sign up for something, and don't cancel it but the funds aren't availble, then the transaction will get declined. However, if they keep trying and trying to obtain funds, they will take it out of your account. If you don't have the funds in your account, you're account will go into the negative and you'll have 180 days to "refund" paypal to clear your balance.