PayPal Pre-Paid Debit @ VT 7-Elevens

According to numerous sources, PayPal's pre-paid MasterCard debit card will be available at roughly 5,500 7-Eleven stores nationwide once its rollout is completed later this year. Customers will be able to re-load cash onto their cards at these locations. The PayPal card must be linked to a PayPal account to give cardholders full access to its online features. The cards are being issued by the Bancorp Bank, a unit of Bancorp (TBBK) through a license from MasterCard (MA).

Some details of PayPal's pre-paid debit card:

Initial purchased of the card costs $4,95
There's an ongoing $4.95 monthly fee
Minimum load value is $10-$20, with a maximum of $500
Not available to minors
Temporary cards are available at the store, permanent personalized cards follow by mail
For access to online access to view card balance and transactions, etc., linking to a PayPal account is required
Re-load fees vary by location
PayPal is currently promoting an optional FDIC insured savings account offering a 5.00% APY

PayPal's pre-paid MasterCard is re-loadable by direct deposit, bank transfer or at any of more than 130,000 NetSpend Reload Network locations. Even in Vermont, there are hundreds of re-load locations (not just 7-Eleven). View more about the card and search locations here.

Management Minute | from the Association of Vermont Credit Unions