I need to extract money from Paypal. Are there no-hassle ways to do it?

Extracting Money From PayPal

There are two easy ways to extract money from PayPal. I think you can get a check too, but I don't think that's easy and it takes a while.

You can transfer the money to your bank account. This can take 3-5 days depending on your bank.

You can get a PayPal debit card. Which I have and love. You have immediate access to your cash. I mean immediate. Someone pays an invoice and you can walk down to the ATM and pull cash out. It's awesome.

Other things that I like about the PayPal debit card.

You see your charges immediately. I have charged a drink at the local coffee shop logged in and my charge was there. Pretty cool, especially for an old school geek like me.

No ATM fees from Ebay.

You get 1% cash back on all credit card purchases (not debit card purchases) that you make with it. I use mine for all of my bills. It's really nice to see those nickels and dimes coming back.

More info from the PayPal website:

Why should I use the PayPal Debit Card?

The PayPal Debit Card gives you instant access to the money you receive in your PayPal account, eliminating the step of having to transfer money from your PayPal account to your bank account.

What are the fees to use the PayPal Debit Card?

There is no fee to use your PayPal Debit Card to make purchases from merchants that accept MasterCard. There may be fees associated with cash withdrawal and foreign transactions. Please see our User Agreement.

How do I get cash back rewards for using the PayPal Debit Card?

To get rewards with the PayPal Debit Card, sign up for PayPal Preferred Rewards. Once you're a Preferred Rewards member you'll get cash back for every debit card purchase that does not require a PIN.

Do I need to have a PayPal balance to use the PayPal Debit Card?

When you pay using your PayPal Debit Card, funds in your PayPal account are used first. You can select a backup funding source for your debit card to cover the purchase if the amount exceeds your available balance

Am I protected if my debit card is lost or stolen?

There is 100% protection against unauthorized purchases made with your PayPal Debit Card.

What other benefits do I get when I use the PayPal Debit Card?

Your PayPal Debit Card purchases may be eligible under MasterCard's MasterCard Premier Business Card program for a variety of protections, including rental car insurance, travel assistance, and protection against lost or damaged items. Please see the MasterCard Guide to Benefits for more details.

Is there a withdrawal or spending limit using the PayPal Debit Card?

The default spending limits for the PayPal Debit Card are:

Daily spending limit is $3,000.00 USD.

Daily ATM Limit: $400.00 USD.

How long does it take to get the PayPal Debit Card once my application is approved?

It usually takes 2-4 weeks to receive your PayPal Debit Card in the mai.l

Comments 3 comments

Lissie profile image

Lissie 8 years ago from New Zealand

Looking for the link on the MasterCard - I have a New Zealand paypal a/c and I can't see any mention of it - is it only available in the US?


dougmcisaac profile image

dougmcisaac 8 years ago from Billings Author

I tried to add the link, but it was too long. I went to the home page --> Products and services tab and the link was there. But it may just be available in the US.

Doug


chamilj profile image

chamilj 5 years ago from Sri Lanka

Sad Paypal Debit Card is available only for US Paypal Accounts.

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