If they don’t have this information, they can work with PayPal’s Resolution Center to provide additional proof of identity. Card holders do not have to submit to a credit check to use the My Cash Card, but they do have to provide name, address, date of birth and their Social Security Number which PayPal uses to verify identity. There is also a $3.95 activation fee, and users can load up to $500 per day with a maximum of $4,000 per month. After the funds are loaded, users can checkout with PayPal at any of the online merchants’ websites where PayPal is supported. If they don’t already have a PayPal account, they can create one at this time.
Users then log into the PayPal My Cash Card website, and load the funds directly into their PayPal account using the PIN number provided on the back of the card. The card is available at launch in fixed amounts like $20, $50, $100 and higher. To activate a card, users first purchase the dollar amount they want to load.
PayPal plans for the card to reach 60,000 retailers by 2013. The company says that the PayPal Cash Card will be available beginning today, at 30,000 locations across the U.S., 10,000 of which are Dollar Generals. The card will be sold at pharmacies and discount stores, including CVS, Rite Aid, Fred’s, Dollar General, Family Dollar, and others soon. PayPal announced today the launch of its first fully branded cash loading card, called the PayPal My Cash Card, which will allow users to load up their PayPal accounts using cash instead of bank transfers.
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