Transferring money from a prepaid card to PayPal can be very useful especially when trying to complete an online transaction safely and conveniently.
PayPal is the most used payment gateway in the world. It is used by both individuals and businesses to get paid by their clients; freelancers and businesses also use these PayPal alternatives to get paid.
PayPal is a money transfer app that lets you send and receive money instantly to and from any part of the world. It is accepted by many online shops and its users use it mainly to purchase items online where PayPal payments are accepted.
Online shopping has become very much popular as it offers a convenient way to shop items without having to visit a local store.
Prepaid cards those cards which work without a bank account. This makes them a great choice for online shopping. In fact, these prepaid cards are designed only for online shopping.
When talking of a more convenient way to shop online, PayPal comes first in mind as it lets you shop securely on any site. Moreover, you are guaranteed to get back your money if you are not properly served.
PayPal offers numerous advantages not only for online shopping but also in financial management. If you got your money on your prepaid card and will rather love to have it in your PayPal balance, then you are at the right place.
That said, in this article, I will show you how to transfer money from a prepaid card to PayPal without hassle.
What is a Prepaid Card?
A prepaid debit card works similarly to a gift card in that it allows you to spend the amount of money on the card. You can reload the card online or at an ATM, a participating store, or another physical location once the balance has been depleted.
Prepaid debit cards are issued by banks and branded by Visa, MasterCard, Discover, and American Express, among other major credit card providers.
A prepaid debit card could be useful for someone who wishes to stay to a strict budget or has problems handling credit cards.
A prepaid debit card can be used for any transaction that would normally require a credit card or standard debit card. The recipient of your payment may not even realize the card is prepaid in many cases.
Some firms pay their employees with payroll cards, which are prepaid debit cards that can be used in the absence of a bank account or direct deposit.
Prepaid debit cards are now available for many government benefits, including Social Security.
How to Get a Prepaid Card
When you apply for a prepaid card with the appropriate financial institution, you will be given one. You should start by looking for prepaid card issuers on the internet.
Many prepaid card companies are willing to provide you with a card.
After you've found a few companies, you can research them to determine which ones are the most suitable.
There are a number of fees to look at, including withdrawal fees, overdraft fees, monthly fees, inactivity fees, and so on.
After you've decided on the best card for your needs, go to the card issuer's website to begin your application. On the form you receive, you will fill in various details and submit it for processing.
You will then be notified of the status of your card application. You will receive and activate your card once you have completed your application.
After you've activated the card, you'll need to recharge it before you may use it. You may recharge certain prepaid cards at physical locations.
You can also reload a prepaid card by transferring funds from a bank account or by transferring money from debit card to prepaid card.
What is PayPal?
PayPal is an online payment platform that makes it easy for people to send money to each other. Customers can create an account on PayPal's platform that is linked to their credit card or checking account.
Users can start making and receiving payments to and from other PayPal accounts online or through the company's app once their identification and proof of money have been verified.
How Does PayPal Works?
PayPal is a payment service and solution provider for both individuals and companies. Personal consumers can purchase, make payments, and move money with great ease thanks to the company.
To sign up for an account, users must enter an email address as well as a credit card, debit card, or bank account. Before the service may be utilized, PayPal checks all of the information to ensure that the person setting up the account is the rightful owner.
PayPal account holders can send money to others via the company's website or mobile app by entering the recipient's email address or cell phone number. If the store offers the service, customers can use PayPal to complete online purchases.
Transactions are completed in minutes, and the company guarantees that transfers are promptly available for payment or withdrawal to a bank account.
PayPal also provides a variety of solutions for organizations' day-to-day operations.
Payment portals for both online and in-person transactions, business management systems, and credit and financing choices are all part of this. In order to create an account, business owners must also provide an email address.
Can You Transfer Money From A Prepaid Card To PayPal?
Yes, but, not directly. To transfer money from a prepaid card to PayPal, users must first transfer the funds to a bank account or debit card that is linked to PayPal.
Once the funds arrive the bank account, you can now conveniently add the money to your PayPal balance by using the Transfer Money option on PayPal.
How to Transfer Money from a Prepaid Card to PayPal (Using a Linked Bank Account)
PayPal allows you to link your prepaid cards. But however, you cannot use a prepaid card as a funding source for your PayPal account.
PayPal lets you add funds to your PayPal balance with a bank account. This means, you will first need to transfer funds from your prepaid card to bank account before adding the money to PayPal.
That said, here are the steps to transfer money from a Prepaid card to PayPal.
Step 1: Gather All Information
The first thing you want to do is to gather some information most especially your bank account and routing number in order to complete the transfer. However, if you are initiating a local transfer, you might not have to use a routing number.
Step 2: Transfer Money from Prepaid Card to Bank Account
Once you've gotten the bank account number, the next thing you will want to do is to transfer money from your prepaid card to a bank account. The transfer will be even easier if you use the online banking platform for your transactions.
If you don't have a bank account, you can still use these virtual bank accounts for PayPal to send the money.
Follow the steps below to transfer money from a prepaid card to bank account.
- Log into your card account online via the mobile app or web.
- Tap "Transfer Money".
- Provide the bank account details you want to transfer money to.
- Next, navigate to transfers and select to transfer to a bank account.
- Enter the amount to transfer.
- Enter your PIN or any other convenient verification method.
- Finally, tap send to transfer the money.
Step 3: Open and Verify Your PayPal Account
If you don't yet have a PayPal account, you will have to create and verify your PayPal account in order to be able to use the PayPal full features. Failure to verify your PayPal account will result your newly created account to be limited.
Step 4: Link Your Bank Account to PayPal
Once your PayPal account set and your funds available in your bank account, the next thing you will want to do is to link your bank account to PayPal. To link your bank account to PayPal, you might need to use your bank account and routing number.
For your convenience, here are the best virtual bank accounts for PayPal.
However, the process of linking a bank account to PayPal is pretty simple as outlined below.
- Login to your PayPal account.
- Tap "Wallet" at the top of the page.
- Tap "Link a bank account".
- Select your bank, or click "Don't see your bank?" at the bottom.
- Depending on the bank you select, you may have the option to link your bank instantly using your online banking login information. If the instant option isn't available, just enter your bank account details manually and click Agree and Link.
Step 5: Transfer Money from Bank Account to PayPal
To transfer funds from a bank account to PayPal, follow the steps below.
- Login to your PayPal account.
- Go to your "Wallet".
- Select "Transfer Money".
- Select "Add money to your balance".
- Provide your bank information, by following the on-screen instructions.
How To Add Money to PayPal With Prepaid Card
You can use your prepaid card as a funding source for your transaction made via PayPal. To Add money to PayPal with prepaid card, all you will need to do is to proceed to checkout when shopping online and select your prepaid card as the source for the payment. You can also do this when sending money to someone.
How to Transfer Vanilla Gift Card to PayPal
Vanilla gift card is a prepaid gift card. PayPal allows its users to link their prepaid gift cards and using as a funding source for transactions.
To transfer Vanilla gift card to PayPal, you first need to add the card to PayPal as shown below.
- Login to your PayPal account and click on "Wallet" tab.
- Select "Link a debit or credit card."
- Tap "Link a card manually" if given the option to link manually or through a bank.
- Enter the gift card information.
- Tap "Link Card."
How to Transfer Money from PayPal to Prepaid Debit Card
You can instantly transfer money from PayPal to a prepaid card. You can send money to any Visa or MasterCard debit card that that is eligible for the transfer. All eligible cards are listed in the "Instant" section of PayPal's money transfer page. The transfer typically takes 30 minutes on average to complete.
You can also transfer money from your PayPal balance to your PayPal prepaid card. To do this, log in to your PayPal Prepaid Card Online Account Center, tap on the PayPal Transfers section, and follow the steps to transfer money from your PayPal balance to your PayPal Prepaid Card instantly and at no-cost.
How to Link PayPal Prepaid Card to PayPal Account
To link your PayPal Prepaid Card to your PayPal account and use it as a funding source to your transactions with PayPal, you must log-in to your PayPal Account on the PayPal Website or in the PayPal App and add the card to your funding sources.
Final Thoughts On How to Transfer Money from a Prepaid Card to PayPal
PayPal offers a more convenient way for its users to send and receive money online. PayPal accepts bank accounts, credit, debit and prepaid cards as funding source for transactions. However, you cannot use a prepaid card to add money to your PayPal balance.
The only way to transfer money from prepaid card to PayPal is by using a linked bank account as a middleman for the transactions. Once the funds arrive in your bank account, you can then easily send the money to your PayPal balance from your bank account.