PayPal Debit Card

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Transcript

Okay, one cool thing that PayPal has been doing is a debit card for your PayPal account. Now again, they realize that not everyone is a brick and mortar or really sometimes even a physical location, but you do have a business a lot more as becoming an e commerce world where you know, you're on the go. You may even deliver physical products, but you may not actually have a physical location, you may be a middleman or a third party or, you know, a reseller. So there's a lot of reasons why you may want to have this especially in certain countries, this is a highly efficient to have the business debit card. And the basic thing that you need to realize is that there are a few kind of, you know, loopholes to all of this and not everyone is able to be issued a business debit card.

I believe they have a few countries that are on currently limited, since it changes so frequently they base it on On, obviously fraud percentages, you need to just qualify, sign up and see if you qualify for your country. The main things you need to keep in mind is that you do get cashback 1% on everything, but you have to make sure that you're at least adding up to $1 and us D or basically whatever your currency is related to $1 US dollars in cashback earn, if you don't do that each month, then obviously it doesn't pay out. So you have to spend at least $100 with your card each month. With that being said, you only have a $400 withdrawal limit. And with that being said, the PayPal is wherever obviously, FDIC members and cards are accepted and MasterCard is accepted. So not everyone everywhere processes MasterCard, the same like they used to usually people Think of visas as being that now.

So there's a big thing towards trying to fight terrorism. And the basic idea behind it is, is again, they probably won't allow Afghanistan to be issued these types of cards. Why? Because they want to identify a lot more information. When you make withdrawals via your bank, you are much more likely to have a good standing paypal account. But for other people, I get that you're sometimes you know, you need that money right away.

And rather than a bank, which can take you know, three to four days to show up and then you need to use that money. a debit card is right then in there, but with that being said, is that when you use debit card, they see that as well. You're not in good standing because you're not willing to wait a few days. So that little weight uniquely enough is going to add a better standing. If you do Via bank, if you do your withdrawals and you do a lot of processing through your debit card, you're going to be looked at, at first as being an another risk, you're adding a risk number, or factor to your account. So if you're a brand new account, you probably want to wait 90 days before you apply for this card, you can obviously see that if you would qualify, but you want to wait 90 days before you really start using that card.

Because, again, it's going to add a factor where they may limit you, they may look at your transactions more closely and scrutinize you. And depending on where your geolocation is, you know, if you're close to Afghanistan, they may even look at those cards because of where your geolocation is, maybe you're near the border, or you know, wherever they quote unquote. Usually since this is obviously a US based company, wherever the US government finds terrorism quote unquote, to be which You know, in their terms, that's obviously all law. So that's why it feels like it's changing daily. It's like, oh, how is this, you know, relevant to me? Well, it's what the US government deems as terrorist activities.

If a state has enough terrorist activity, all funding and these types of debit cards and you know, even sometimes PayPal accounts will be suspended for the country. So do keep that in mind. That's just kind of you know, the law of the land and how things arise. That's why with PayPal, when you are in certain countries that are kind of, you know, close to those breaks, or they have a lot of fraud. Do keep in mind that you probably should also keep a backup for being able to process payments at a later date should anything you know, drastic arise.

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