MasterCard To PayPal: MasterCard is a credit card that can be used to make purchases online and in person. PayPal is an online payment system that allows users to send and receive money.
So, if you have a MasterCard and a PayPal account, it’s possible that the question “Can I transfer money from my MasterCard to PayPal?” has crossed your mind.
Nowadays, it’s not uncommon for people to have multiple payment methods and devices. For example, you might have a credit card, debit card, and PayPal account.
And you might use your credit card for some purchases, your debit card for others, and your PayPal account to pay bills or send money to friends and family.
Each payment method has its own set of benefits and drawbacks, so it’s important to choose the right one for each situation.
In the case of PayPal and MasterCard, there are a few things to keep in mind. First, PayPal is generally free to use if you’re sending money from your bank account or debit card.
However, there is a fee for sending money from a credit card, and the fee varies depending on the country you’re sending money to.
Second, MasterCard is accepted by more merchants than PayPal, so you’ll have an easier time using your MasterCard to make purchases.
So, linking your MasterCard to your PayPal account can be a good idea if you want the convenience of being able to use either payment method.
Keep on reading to find out whether you can add balance to PayPal using MasterCard and how to do it, does PayPal lets you withdraw money from MasterCard, and what are the other ways of funding your PayPal account.
Can You Transfer Money From MasterCard To PayPal In 2022?
As of 2022, there is no way to transfer money from a MasterCard to a PayPal account. This is because the two companies have different ways of handling payments and transfers. However, you can still use your MasterCard to pay for things through PayPal by linking it to your account.
So, if you need to use PayPal to pay for something but don’t have enough money in your account, you can still do so by using your MasterCard.
But, adding money to your PayPal balance by withdrawing money from your MasterCard isn’t possible at this time.
In case you’re wondering, there are a few things that you should know about MasterCard and PayPal before we dive into the article.
For starters, MasterCard is a credit card company while PayPal is an online payment processor. This means that when you use your MasterCard to make a purchase, the merchant will send the payment to MasterCard which will then forward it to your bank.
On the other hand, when you use PayPal to make a payment, the funds will be transferred from your PayPal balance or directly from your linked bank account or credit card to the merchant’s account.
Linking MasterCard To PayPal
There are many reasons why you might want to link your MasterCard to your PayPal account. Perhaps you use PayPal for online shopping and want the convenience of being able to pay directly with your MasterCard.
Or maybe you receive payments through PayPal and would like to have the option of transferring the money directly to your bank account.
Regardless of your reason, linking your MasterCard to PayPal is a quick and easy process. Once you have linked your MasterCard to PayPal, you will be able to use it for all sorts of transactions.
For example, you can use it to pay for goods and services online, or even send money to friends and family. You can also use your MasterCard to withdraw cash from ATMs, or make purchases in-store using PayPal’s ‘Pay in 4‘ feature.
Linking your MasterCard to PayPal is a great way to maximize the potential of your PayPal account.
With just a few clicks, you can add an extra layer of convenience and flexibility to your online payments.
Follow these steps –
- Log in to your PayPal account
- Click the ‘Link a card’ button on your ‘Summary’ page
- Enter your MasterCard details and click ‘Save’
- You will then be taken to your bank’s website to authenticate your card
- Once you enter the one-time passcode your bank will send to confirm your card, you’re all set!
After following these steps, your MasterCard will be linked to your PayPal account and you can start using it for all sorts of transactions.
Whether you’re paying for goods and services online, or sending money to friends and family, your MasterCard will now be a convenient and easy way to do so.
However, please note that you cannot add a balance to your PayPal account using your MasterCard. If you want to do this, you will need to add a bank account instead.
How To Add Money To Your PayPal Balance?
There are a few different ways that you can add money to your PayPal balance. One way is to use your bank account to transfer funds into your PayPal account.
In order to withdraw money from your checking account and add it to your PayPal balance, you will need to –
- Log into your PayPal account
- Go to the PayPal Balance page
- Click on the “link a bank” if you don’t have one already
- Enter your bank account number and routing number
- Verify the account by providing two small deposits that PayPal will make into your account
- Once you have verified the account, you can add funds to your balance by transferring money from your bank account to PayPal
- To do this, go to the “Add Money” page on your PayPal account, select “Transfer from a bank account,” and enter the amount of money you want to transfer
- The funds should appear in your PayPal balance within 1-2 business days
Another way to add money to your PayPal balance is through direct deposit. This is a feature that allows you to link your PayPal account to your employer’s payroll system.
Once you have set up a direct deposit, your paycheck will be deposited into your PayPal balance on payday.
If you have a PayPal Cash Card, you can also use that to add money to your PayPal balance. The PayPal Cash Card is a prepaid debit card that you can use anywhere Mastercard is accepted.
You can load money onto the card from your PayPal balance, and then use the card to make purchases or withdraw cash from an ATM.
Using PayPal Cashback Mastercard
Even with a PayPal Cashback Mastercard, you cannot transfer money to your PayPal account as it’s basically a credit card.
However, PayPal Cashback Mastercard is a great way to earn rewards on your everyday purchases. With this card, you’ll earn 2% cash back on every purchase you make (it’s 3% when you checkout with PayPal)- whether it’s online, in-store, or even on PayPal.
Plus, you’ll get all the safety and security features of PayPal, as well as the benefits of Mastercard.
Whether you’re looking to earn rewards on your everyday spending or just want a simple and convenient way to pay, PayPal Cashback Mastercard is a great choice.
Using your PayPal Cashback Mastercard is easy – simply use it wherever Mastercard is accepted. You can also use it to make purchases on PayPal, or even transfer your cash back rewards into your PayPal balance, bank account, or debit card.
Plus, with Identity Theft Protection, you can rest assured that your personal information is safe and secure. So why not give PayPal Cashback Mastercard a try today?
There is no annual fee for the PayPal Cashback Mastercard, so it’s a great way to save money on your everyday spending.
Plus, there is no limit on how much cash back you can earn, so you can really maximize your rewards.
Currently, when you apply for this credit card, you will be eligible for a flat $100 cashback offer that PayPal is running.
So if you spend at least $500 within the first 3 months of account opening, you will get a $100 cashback bonus.
To sum it up, PayPal Cashback Mastercard is a great way to earn rewards on your everyday spending.
With no annual fee and a generous sign-up bonus, it’s a great choice for anyone who wants to earn cash back on their everyday purchases.
Using PayPal Extras Mastercard
As of 2022, PayPal doesn’t provide an option to let PayPal Extras MasterCard holders transfer the money on their cards to their PayPal accounts.
If you don’t already know, there is no annual fee for the PayPal Extras Mastercard, which is great for those who don’t want to worry about paying an additional fee on top of their purchases.
You can earn rewards points on all of your Mastercard purchases, including gas and restaurant purchases, which is a great way to get extra points.
You can also redeem your rewards points for gift cards, merchandise, travel vouchers, or cashback.
The PayPal Extras Mastercard is a great choice for those who want to earn rewards points on their everyday purchases.
However, as of 2022, PayPal doesn’t accept new applications for the PayPal Extras Mastercard. So, if you don’t already have the card, you won’t be able to get it.
In case you already have the card and want to know more about it, here’s what you need to know about the PayPal Extras Mastercard.
There are advantages and disadvantages to using the card, so be sure to read through them before making your decision.
Advantages
- No annual fee – The biggest advantage of the PayPal Extras Mastercard is that there’s no annual fee. This means that you don’t have to worry about paying an additional fee on top of your purchases.
- Earn rewards points – You can earn rewards points on all of your Mastercard purchases, including gas and restaurant purchases. This is a great way to get extra points.
- Redeem rewards points – You can redeem your rewards points for gift cards, merchandise, travel vouchers, or cashback. You will earn 3 reward points per $1 spent on gas and restaurant purchases, 2 reward points per $1 spent on PayPal and eBay purchases, and 1 reward point per $1 spent on all other Mastercard purchases.
Disadvantages
- Can’t get it if you don’t already have it – As of 2022, PayPal doesn’t accept new applications for the PayPal Extras Mastercard. So, if you don’t already have the card, you won’t be able to get it.
- Foreign transaction fee – There is a foreign transaction fee of 3% of each transaction. This means that if you make a purchase in a foreign currency, you will be charged an additional fee.
- High interest rate – The APR for the PayPal Extras Mastercard is 15.99% – 26.99% variable, which is a higher interest rate than some other credit cards. This means that if you carry a balance on your card, you will accrue interest at a higher rate.
How Can You Withdraw Cash From A MasterCard?
As PayPal doesn’t let you transfer money from your MasterCard to your PayPal balance, you may want to withdraw cash from your MasterCard account.
When it comes to withdrawing money from Mastercard, there are a few things you need to keep in mind. First and foremost, you’ll need to locate a Mastercard ATM. Luckily, Mastercard offers an ATM locator on their website so finding one should be relatively easy.
Once you’ve found an ATM, you can follow these steps to withdraw cash from your MasterCard account –
- Insert your card into ATM
- Enter your PIN when prompted
- Then, follow the on-screen instructions
- Enter an amount you’d like to withdraw
- Finally, confirm your withdrawal transaction
Don’t forget that you’ll be subject to any fees the ATM charges so be sure to take that into consideration.
All in all, withdrawing money from Mastercard is a fairly straightforward process and shouldn’t take more than a few minutes.
You can expect to pay around $1.50 to $3.50 for each withdrawal, so if you’re only withdrawing a small amount of money it might not be worth it.
However, if you need to withdraw a larger sum of cash then an ATM is probably your best bet.
You can also try getting cash back at your local grocery store by buying something cheap by swiping your MasterCard debit card.
Most retailers including Walmart, Kroger, Publix, Safeway, Meijer, and Target offer this service and it’s usually free of charge.
Just keep in mind that you’ll need to make a purchase in order to get cash back, so this method might not be ideal if you’re trying to withdraw a large amount of money.
Summary
If you use PayPal to send or receive money, you may wonder if there is a way to transfer money from your MasterCard account directly to your PayPal account.
Unfortunately, it’s not possible to do this directly. However, there are some workarounds that will allow you to get the funds from your MasterCard into your PayPal account.
However, as of 2022, there are several other ways to deposit money into your PayPal account.
You can now link your bank account, debit card, or PayPal Cash Card to your PayPal account and use any of those methods to add money.
The traditional way to move money is by linking your bank account to your PayPal account.
When you link your bank account, you can transfer money from it to your PayPal balance whenever you want.
If you just want to use PayPal to make payments online, you may use your MasterCard as a funding source.
When you check out with PayPal, simply select MasterCard as your payment method instead of using your bank account or PayPal balance.