You may recall that I blogged about an offer from Paypal, which spoke about getting $10 for each student account you create (max 4). Well, I of course took the offer and today I got a special surprise that I wasn’t really expecting especially from the mail. I got a mail from Paypal saying that I have got my Paypal student account debit card. No where did I expect this because it didn’t say anything about student debit cards on the fine print.
Here is a photo I took of the Paypal debit card.
(As for those who didn’t know, Paypal is somewhat acquainted with MasterCard)
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Anywhere that accepts MasterCard, supposedly accepts the Paypal debit card as well. This can be very convenient when it comes to using the money from your Paypal account to fund buying stuff beyond the cyber world actually. The Paypal debit card can prove to be beneficial to business owners because not only can you dodge the fees of withdrawing money directly from your Paypal account to your bank account to use the money, (which is about 2.9% I believe) you can take it anywhere on the go to purchase anything with no fees at all directly through your Paypal card with your Paypal balance. All the money is funded by the balance on your Paypal account. And if the card is connected to a Paypal account, whenever the balance ever reaches 0, it will never go beyond the balance on your Paypal account to ensure you never surpass your spending limits.
The benefits of this ultimately is for business owners who do business via through Paypal. It will not only save them money on withdrawal fees because they can now simply use the money from the Paypal account to directly buy virtually anything they desire, it also allows them to carry around a very convenient card that is secured from any form of theft. Each transaction, whether it be withdrawing money from your Paypal account or purchasing something with your card, requires a secure 4 number PIN. Not only does this PIN feature prevent unauthorized transactions whenever you lose your card, the PIN feature also abandons the idea of using signatures, which contributes to more security. In other words, where ever you go, you can walk with confidence that you won’t lose your money.
Also, almost forgot to mention, Paypal has an incentive reward system. Basically for every 2,500 points you earn, you can trade in your points for a $25 voucher (9,500 points for a $100 voucher). You can read more about their incentives program here. Each Paypal point is obtained for each dollar you spend. Which means if you buy something for $20, you just obtained 20 points. Another reason to use the Paypal card is because Paypal incorporates a tracking system of every authorized purchase you make with a card. This guarantees that you can track your spending history at just a click of a button without you having to do anything at all.
So as you can see, this card may actually have its benefits even if you didn’t obtain the card nor the $10 student reward during the special event. If you want to have your very own personal Paypal debit card, you still can here. Paypal’s debit card is both practical and economical for the average Paypal user.
If you are a business owner who deals through Paypal frequently and would like to obtain this card to save on unnecessary fees, it is best if you register under a merchant account to save more on fees with the addition of your very own convenient Paypal debit card here.
As for the special $10 promotion for those who are curious, I have not yet been credited the $10 incentive for joining on the time of the event, however, I believe it will come anywhere around February 15 as Paypal has stated in their ToS. I will keep you guys updated.
I must admit, this was actually a very cool experience. I now have my very own Paypal personal debit card that I can take anywhere on the go.
