Has anyone had fraud on the account or any kind of transaction dispute?
I've been waiting to hear how that is handled, and how smoothly it goes. Is it the PayPal Debit card banks responsibility or Synch?
I don't have the setup currently, but from what I understand I think you did get it mixed up a bit.
First, you apply for 2% Paypal card which is a personal card, doesn't matter how you apply for it.
Second, they will only allow bank's as back up sources AND the Paypal 2% CC (this is the trick). You have to be in their system as having the Paypal 2% CC and only at that point will it become an option to use it as a backup funding source for your Paypal Business Debit Card (which is what you will be actually swiping everywhere).
Hope that helps (and that I got it right, it is a little confusing =D)
I was unsure how to go about this either a couple of weeks ago, so I tried with essentially the same results as @Zeta421.
Yes, you have to upgrade to a business account to get the 1% business debit. As soon as I upgraded I completed the order for my debit. I also learned I could not apply for the 2% Synchrony card while on a business account after that. I rolled the dice and called and had my account downgraded back to personal/premier, unsure if my debit card would either activate or provide the 1% CB. I then applied for the 2% Synhrony card and was approved. I received my debit card in the mail early last week and activated immediately. I still haven’t received my Synchrony card, but it is already attached to my PayPal account through their system. When I activated the debit it asked me for a backup funding source and I chose the Synchrony card.
I’ve used the card a few times already and waited a couple of days to review the transactions. So far all the purchases have indicated CB earning (Apple Pay, gas station swipe, Walmart, etc.). I always choose credit when prompted.
Hope this helps some!
Yes, you have to upgrade to a business account to get the 1% business debit. As soon as I upgraded I completed the order for my debit. I also learned I could not apply for the 2% Synchrony card while on a business account after that. I rolled the dice and called and had my account downgraded back to personal/premier, unsure if my debit card would either activate or provide the 1% CB. I then applied for the 2% Synhrony card and was approved. I received my debit card in the mail early last week and activated immediately. I still haven’t received my Synchrony card, but it is already attached to my PayPal account through their system. When I activated the debit it asked me for a backup funding source and I chose the Synchrony card.
I’ve used the card a few times already and waited a couple of days to review the transactions. So far all the purchases have indicated CB earning (Apple Pay, gas station swipe, Walmart, etc.). I always choose credit when prompted.
Hope this helps some!
I still have a personal account with a Business Debit Card, so it seems that Paypal is changing the rules of their game.
Just my opinion, but this is probably the first of future changes. As I mentioned before, Synchrony is giving us 2% cashback on a card that we don't even swipe nor carry in our wallets. Maybe some of you actually carry it, but why when you are getting 3% back using the debit card.
Unless Paypal is making it somehow be a sweet deal for Synchrony in the background, or enough of you guys are carrying a high balance @ a high APR.
@Anonymous wrote:For Synchrony it is probably just like any other credit card transactions. Perhaps they are giving Paypal a discount or waiver of credit card fees that are normally charged to merchants, hence Paypal allowing us to use Synchrony as backup payments even though they are credit cards. Could truly be a win for consumers coming from Synchrony-Paypal's relationship.
I hope you are right. As my non-category daily driver, this even trumps my USAA 2.5% Limitless.