The PayPal Prepaid Card offers both current and new customers a $5 bonus via their referral program.
The PayPal Prepaid Card Refer-a-Friend program provides a $5 bonus to both parties when a current customer refers a new customer who signs up for a card, activates the card, and loads $10 onto their card.
Members can also take advantage of special offers from select merchants to get cash back rewards on those purchases.
In addition, when you open an optional savings account through the BanCorp Bank, you’ll earn up to a 5% APY for balances of up to $5,000.
PayPal Prepaid Card $5 New Member Bonus
New PayPal Prepaid Card members can earn $5 when you sign up for a card, activate your card, and load at least $10 on your card.
Just sign up via this PayPal Prepaid Card Referral Link using Referral Code 7475818069 when you register (referral code was provided by a reader).
Once you become a member, please share your own referral code in the comments below this article, so that I can add your referral code to the list below.
PayPal Prepaid Card Referral Codes from Readers
PayPal Prepaid Card Refer-a-Friend Program
A cardholder may receive an unlimited number of Refer-a-Friend rewards while the program is available.
No rewards will be credited to either party if the referred individual had a PayPal Prepaid Card or any other NetSpend Prepaid Card that was used for a value load, purchase, cash withdrawal, or incurred a Balance Inquiry Fee at any time during the 180 calendar days before the day the $10 load requirement is fully met.
Cardholder-to-Cardholder transfers do not count toward the minimum load requirement.
You must allow 2 business days for the $5 credit to appear on each card account.
You can review more details on the PayPal Prepaid Card including information about the referral program.
About PayPal Prepaid Card
The PayPal Prepaid MasterCard is issued by The Bancorp Bank and may be used everywhere Debit MasterCard is accepted.
There is no purchase fee for the PayPal Prepaid MasterCard when you order online.
There is a $4.95 monthly fee, which gives you the ability to make unlimited Signature and PIN purchase transactions.
However, you will not be charged any fees for this card account until you add funds to it.
Once you do add funds, your card account will be subject to the $4.95 monthly fee.
You can load and reload funds to your PayPal Prepaid MasterCard with a no-cost direct deposit service, via transfers from your PayPal account to your card, and at more than 130,000 NetSpend Reload Network locations nationwide.
To have full access to features available through the PayPal Prepaid Card Account Center (e.g., view your Prepaid Card balance and transaction history or use the online bill pay service), you must establish a PayPal account or link this prepaid card to your existing PayPal account.
The PayPal Prepaid Card is not related to the PayPal Debit Card.
Residents of the state of Vermont are ineligible to open a card account.
PayPal Prepaid Card Savings Account 5% APY
The PayPal Prepaid Card also provides an optional tiered-rate savings account through The Bancorp Bank.
You can earn up to a 5% Annual Percentage Yield (APY) for balances of up to $5,000.
If your Average Daily Balance is $5,000 or less, the interest rate paid on the entire balance will be 4.91% with an Annual Percentage Yield of 5%.
If your Average Daily Balance is more than $5,000, the interest rate paid on the portion of the Average Daily Balance which exceeds $5,000 will be 0.49% with an APY of 0.50%, and the interest paid on the portion of the Average Daily Balance which is $5,000 or less will be 4.91%.
The APY for this tier will range from 5.00% to 0.72%, depending on the balance in the account.
No minimum balance is necessary to open a Savings Account or to obtain the 5% APY.
Please note that because Savings Account funds are withdrawn through the Prepaid Card account (maximum 6 such transfers per calendar month), the card account transaction fees could reduce the interest earned on your Savings Account.
Your Prepaid Card account and Savings Account funds are FDIC-insured through The Bancorp Bank.
To open a savings account, you must establish a PayPal account or link your Prepaid Card to your existing PayPal account.