Prepaid cards are usually used for instant payments and to keep your money safe. If you’re someone who tries to spend within your budget, a prepaid card can help you learn how to manage money.
It’s a valid option for parents who hand out money in their kid’s hands because they are careless. So you have to try a prepaid card for keeping your money safe because you can request a new prepaid card if it’s lost.
However, if you want to transfer money from a prepaid card to PayPal then there are a few things that you need to keep in mind. In this article, we will guide you with a step-by-step guide to help you transfer funds from your prepaid card to PayPal.
How to Load Money Into Prepaid Card?
You can load money into your prepaid card in a variety of ways which include:
- Direct deposits.
- Cash at the register at participating retailers.
- Transfer from checking or saving accounts.
- Check using the mobile app.
As you used credit cards and debit cards to pay bills and purchases, Prepaid cards are also used for it. They are accepted nearly everywhere since they are often backed by a major card network.
But it can charge a variety of fees because a prepaid card doesn’t require a bank account, but requires you to load money into the card before you use it.
Method to Transfer Money From Prepaid Card To PayPal:
You can transfer money from a prepaid card to PayPal using the ‘Transfer Money‘ option on the PayPal website.
- First, you need to add the prepaid card as a funding source to your PayPal account.
- Once you’ve linked the card, you can transfer funds from the card to your PayPal balance.
- The process generally takes a few days for the funds to arrive in your PayPal account.
Keep in mind that you may be charged a fee by the prepaid card issuer for each transfer. Therefore, it’s important to check with your card issuer prior to transferring any funds.
Connecting your prepaid card to your PayPal Account
You can connect almost every type of card including debit cards, credit cards, and prepaid cards.
You just have to connect your prepaid card to go into your PayPal settings and select the “Link Card” option. Then follow the steps and fill in all the related fields.
Restrictions with prepaid cards while using PayPal
For the foremost part, as long as the online vendor you’re shopping from offers PayPal as a payment option, you’ll use the funds in your prepaid card account.
However, you may not be ready to use gift cards from specific stores via PayPal, whether or not you get them from that store.
If you wish to use your prepaid card for normal payments, like subscription services via PayPal, you’ll not be able to link your prepaid card to create payments to those services.
It’s also worth noting that you just must have the whole purchase on your prepaid card to finish the checkout. the quantity must cover the price of the products you’re ordering moreover as shipping.
Otherwise, the transaction simply won’t be approved, and you may either must cancel your order or top up your prepaid card and so continue finalizing your purchase.