Explainer: PayPal Debit Card

Approval contingent on ID verification. IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW CARD ACCOUNT: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens a Card Account. What this means for you: When you open a Card Account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see a copy of your driver’s license or other identifying documents. Terms apply. See Cardholder Agreement for details.

The PayPal Debit Mastercard® is issued by The Bancorp Bank, N.A. pursuant to a license by Mastercard International Incorporated. Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated. This is a debit card linked to your PayPal Balance account and is not a credit card. Card may be used everywhere Mastercard is accepted. The Bancorp Bank, N.A. is issuer of the Card only and not responsible for the associated accounts or other products, services or offers from PayPal.

PayPal is not a bank and does not itself take deposits. You will not receive any interest, credit, or other earnings on the funds in your PayPal Balance account. Your U.S. dollar PayPal Balance funds are placed in one or more FDIC insured Program Banks where they are eligible for FDIC pass-through insurance up to applicable limits only if you have opened a PayPal Debit Card account, have enrolled in Direct Deposit, or have bought or received cryptocurrency with your PayPal Balance account. FDIC insurance does not protect you against the failure of PayPal. See PayPal Balance Terms and Conditions.