My Cash Card to load your PayPal account with cash
PayPal launched its own cash loading card called the PayPal My Cash Card. My Cash Card allows users to send cash to their PayPal accounts instead of using bank transfers. The card is available across the U.S. It can be bought at pharmacies and discount stores, including Rite Aid, CVS, Fred’s, Family Dollar, Dollar General, and others.
The card works in the following way: you buy the card at the dollar amount you want to load. The card is available in fixed amounts from $20 to $500. Then Log into the PayPal My Cash Card website and load the funds directly into your PayPal account. For that you will need the PIN number printed on the back of the My Cash Card.
If you do not have a PayPal account, you can create one while you are on the paypal-cash.com.
You will have to pay a $3.95 fee to activate the card. The maximum daily amount you can load is $500, and you can load up to $4,000 per month.
You do not need to have a bank account or credit card to use My Cash Card. But you will need to provide your name, address, date of birth and your Social Security Number. PayPal uses this information to verify your identity.
My Cash Card is the way PayPal expands its consumer segment. PayPal thus tries to reach consumers who are commonly called as the under-banked consumers and those who prefer using cash to credit or debit cards.
Also, My Cash Card is another funding option for current PayPal users. Plus more other people who have never before used PayPal because of its previous restrictions have now the opportunity to open a PayPal account.