Unfortunately, this deal is no longer available
PayPal Business Debit Card - 0.5% cash back on all purchases + No FX markup
703° Expired

PayPal Business Debit Card - 0.5% cash back on all purchases + No FX markup

157
Posted 1st Jul 2019

This deal is expired. Here are some options that might interest you:

Hi

Thought I would share this one. PayPal has relaunched their Business Debit card in the UK.

Now there are +/- on this product

Positives are

0.5% cash back on all purchases
International Transaction with no FX markup

Negatives are

£1 charge for using a ATM
Can be linked to your debit card for direct funding but in £5 increments.
Only available for PayPal Business Account holders

To convert your PayPal account to a business one you just need to following this
paypal.com/uk/…317

Works for me as I have a business account and I don't know of another card with 0.5%. If I want to use a ATM then I can use another card.
Community Updates

Groups

Top comments
Hmmmm..... "no foreign exchange fees on your international, online or in-person purchases."

Yet T&C's state: (link: paypal.com/uk/…tnc)

10. No Use of Your Non-GBP-Balance It is possible to maintain balances in different currencies in your PayPal account. However, balances in currencies other than GBP (that were in your PayPal account prior to the transaction) will not be used to fulfil your payment obligation pursuant to section 9.

Example: You have a US dollar balance in your PayPal account. If you make a payment with your card to a merchant in the US, we will not use this US dollar balance. We will only use your GBP balance and possibly the GBP amount which we pull from your bank account via direct debit for the payment. The GBP balance/GBP amount will be converted to US dollars and we will charge a currency conversion fee (see section 12).


Section 9 relates to cash withdrawals. This looks like it should mean that if you (say) make a cash withdrawal in the US in USD and you hold funds in USD in your Paypal account, Paypal will process your withdrawal in GBP and charge a conversion fee for converting it to USD.

However, the "If you make a payment with your card to a merchant in the US, we will not use this US dollar balance. We will only use your GBP balance and possibly the GBP amount which we pull from your bank account via direct debit for the payment. The GBP balance/GBP amount will be converted to US dollars and we will charge a currency conversion fee" bit seems to fly in the face of their Clause 11b which says:

"We do not charge any fees for payments with your Card(s). In particular, we neither charge a cross-border fee nor a currency conversion fee for payments with your Card(s). "

Legally, a bit ambiguous - and probably drawn up by a chimp instead of a proper lawyer
Edited by: "cb-uk" 1st Jul 2019
My uncle, a small business owner, had his PayPal stop working one day. It took 3 months of hard chasing to get access to his funds back, after which they closed his account and wouldn't give a reason as to why. Somebody let slip it was suspected as fraudulent usage. Every regulator we approached tried to help but concluded they could not get to the bottom of it or force PayPal to do anything. Obviously this is just another, non substantiated comment from an internet random but I thought I would share this experience as I would never use PayPal for business after having my own family burnt by their self regulating and non regulated company.
157 Comments
Wow... 0.5% cashback on everything.... Sounds pretty good. Converted and ordered my card.
Edited by: "MJtayloronline" 1st Jul 2019
Curve will be in trouble if this launches for normal accounts. However cash machine fee will have to go.
What does cashback mean
jaylewars01/07/2019 21:59

What does cashback mean


Say you spend £1000 in a month, PayPal will give you £5 back into your PayPal account.
It's the same as some reward credit cards, aqua and tandem also offer 0.5% cashback.
Great find. Thanks OP.
Can you use this abroad?
MJtayloronline01/07/2019 19:59

Wow... 0.5% cashback on everything.... Sounds pretty good. Converted and …Wow... 0.5% cashback on everything.... Sounds pretty good. Converted and ordered my card.


Be aware that it's effectively a pre pay debit card - they take the money from your PayPal Business Account immediately.
Ta op used to have their old card and was disappointed when they cancelled it. Applied for one no troubles with the link on the deal.
Hmmmm..... "no foreign exchange fees on your international, online or in-person purchases."

Yet T&C's state: (link: paypal.com/uk/…tnc)

10. No Use of Your Non-GBP-Balance It is possible to maintain balances in different currencies in your PayPal account. However, balances in currencies other than GBP (that were in your PayPal account prior to the transaction) will not be used to fulfil your payment obligation pursuant to section 9.

Example: You have a US dollar balance in your PayPal account. If you make a payment with your card to a merchant in the US, we will not use this US dollar balance. We will only use your GBP balance and possibly the GBP amount which we pull from your bank account via direct debit for the payment. The GBP balance/GBP amount will be converted to US dollars and we will charge a currency conversion fee (see section 12).


Section 9 relates to cash withdrawals. This looks like it should mean that if you (say) make a cash withdrawal in the US in USD and you hold funds in USD in your Paypal account, Paypal will process your withdrawal in GBP and charge a conversion fee for converting it to USD.

However, the "If you make a payment with your card to a merchant in the US, we will not use this US dollar balance. We will only use your GBP balance and possibly the GBP amount which we pull from your bank account via direct debit for the payment. The GBP balance/GBP amount will be converted to US dollars and we will charge a currency conversion fee" bit seems to fly in the face of their Clause 11b which says:

"We do not charge any fees for payments with your Card(s). In particular, we neither charge a cross-border fee nor a currency conversion fee for payments with your Card(s). "

Legally, a bit ambiguous - and probably drawn up by a chimp instead of a proper lawyer
Edited by: "cb-uk" 1st Jul 2019
Applied and accepted
What are the consequences of legally declaring yourself a sole trader and business when you are not?

Does this card allow bank transfers? Others, such as Tandem, do not.
Salfordgirl102/07/2019 01:31

What are the consequences of legally declaring yourself a sole trader and …What are the consequences of legally declaring yourself a sole trader and business when you are not?


None really (unless HMRC finds out, and decide to start sending you "love letters" )
cb-uk02/07/2019 01:36

None really (unless HMRC finds out, and decide to start sending you "love …None really (unless HMRC finds out, and decide to start sending you "love letters" )


Any idea what these letters would contain?

If I'm going to get a letter asking for all my "trades" within the last year to be invoiced for tax purposes then it's not worth the risk...
Can you top it up with a credit card, ie an Amex and reap rewards points? Or does Amex class it as a cash advance?
If this links to debut card only then can we link curve for double cashback.
Can someone try please before we apply
FrozenFire02/07/2019 07:22

If this links to debut card only then can we link curve for double …If this links to debut card only then can we link curve for double cashback. Can someone try please before we apply


If it's anything like Tandem credit card (and I can't see why it wouldn't be) then yes, you can
Salfordgirl102/07/2019 01:31

Does this card allow bank transfers? Others, such as Tandem, do not.


Bank transfers to pay off your outstanding balance? I did that yesterday on my Tandem. Just pay their account with your card number as reference. Got a notification a few minutes later on my app to say they got my payment.
Or did you mean something else?
Probably means the other way round, i.e. use your credit limit to pay funds into your bank, I think the proper name is Money Transfer and a lot of credit cards offer this but with extortionate fees and interest rates.

As the Paypal card is a debit card then you can probably use it to pay bills, pay money into bank accounts which support it (not all banks let you deposit via debit card payment) and the funding source is your paypal balance or linked bank account.
Edited by: "crumpetman" 2nd Jul 2019
I've just signed up for this and turned automatic top up on but the statement at the end seems conflicting...

First statement says:
'Automatic top-up instantly pulls increments of £5 from your linked bank account or debit card if you don't have enough money in your PayPal balance to cover your purchases with: Business Debit Mastercard'

And then after that it says:
'Your purchases won't go through when you don't have enough money in your PayPal balance.'

So when i make a purchase with no paypal balance will it automatically debit it from my account or will it decline the transaction until i top up my balance?
sparkeeh02/07/2019 14:27

Bank transfers to pay off your outstanding balance? I did that yesterday …Bank transfers to pay off your outstanding balance? I did that yesterday on my Tandem. Just pay their account with your card number as reference. Got a notification a few minutes later on my app to say they got my payment.Or did you mean something else?



tandem.co.uk/cre…ard

"Balance transfers - This card doesn't offer balance transfers"
richwright102/07/2019 16:09

I've just signed up for this and turned automatic top up on but the …I've just signed up for this and turned automatic top up on but the statement at the end seems conflicting...First statement says:'Automatic top-up instantly pulls increments of £5 from your linked bank account or debit card if you don't have enough money in your PayPal balance to cover your purchases with: Business Debit Mastercard'And then after that it says:'Your purchases won't go through when you don't have enough money in your PayPal balance.'So when i make a purchase with no paypal balance will it automatically debit it from my account or will it decline the transaction until i top up my balance?


Yes if the balance is not enough for the purchase then it will pull the extra amount from the linked debit card (in £5 increments)

I have tried this and it works
Thanks for posting @chrhodes we have added this to the Highlights section
jaylewars01/07/2019 21:59

What does cashback mean


Open the curtains in the daytime my friend
Amex Everyday cashback offers 0.5% cashback?
sweep_the_leg_02/07/2019 23:09

Amex Everyday cashback offers 0.5% cashback?


It does

Not everywhere accepts AMEX and you must spend at least £3k per year to qualify for the cashback but it is a very good deal when combined with bonus intro offer.

Some things you can pay for only with a debit card.
You forgot to mention that it charges you £1 pound for every atm withdrawal, both locally and overseas
sparkeeh01/07/2019 21:12

Comment deleted


Sorry, I disagree strongly. Absolute nightmare customer service from Tandem. I had to get the Financial Ombudsman service involved after months of empty promises from them; amazingly, they didn't follow instructions from them even twice, until they were given 24 hours to pay me the agreed settlement to avoid serious action!! Aqua reward card (always paid off in full) also gives 0.5%...
crumpetman02/07/2019 23:18

It doesNot everywhere accepts AMEX and you must spend at least £3k per …It doesNot everywhere accepts AMEX and you must spend at least £3k per year to qualify for the cashback but it is a very good deal when combined with bonus intro offer.Some things you can pay for only with a debit card.


I'd say that more places accept Amex than those that want or have a PayPal business account.
Maybe but you can't usually pay a bill via Amex but you can via Debit card. If you don't want one then don't apply, I can see plenty of uses for the Paypal debit card.
0.5%, you'll all get rich in no time, saving 10p for every £20 spent Not worth the effort
Is there a charge in paypal for being a "business account"?
I had a similar paypal card years ago and it was pretty useful
SPRR0W03/07/2019 07:50

0.5%, you'll all get rich in no time, saving 10p for every £20 spent …0.5%, you'll all get rich in no time, saving 10p for every £20 spent Not worth the effort


What effort? You spend this money already (food petrol, car tax etc) , why not get some rewards from it?
My uncle, a small business owner, had his PayPal stop working one day. It took 3 months of hard chasing to get access to his funds back, after which they closed his account and wouldn't give a reason as to why. Somebody let slip it was suspected as fraudulent usage. Every regulator we approached tried to help but concluded they could not get to the bottom of it or force PayPal to do anything. Obviously this is just another, non substantiated comment from an internet random but I thought I would share this experience as I would never use PayPal for business after having my own family burnt by their self regulating and non regulated company.
LeedsDealHunta03/07/2019 09:36

I would never use PayPal for business


great! and how to do that when you are eBay business seller?
Post a comment
Avatar
@
    Text