PayPal is the largest payment gateway in the world, and millions of people are using it to send and receive money. But PayPal needs you to have a credit card, or at least a bank account for you to add money to your PayPal account and then transfer or spend it. If you don’t have a bank account or a credit card, then you can still add funds to PayPal using GreenDot MoneyPak.
With it, you can either load money to an issued PrePaid card, or add money directly into your PayPal account without getting into the hassle of bank transfers and what not. It is perhaps the only way to add money without a bank account.
What is MoneyPak?
MoneyPak is a great and efficient financial service that lets you use load your PayPal account with money with live cash. Originally, it was intended for GreenDot issued PrePaid cards, which work just like Payza PrePaid or any other PrePaid cards. You could buy a MoneyPak, and add it directly to the PrePaid card, which could then be used to make purchases or transfer money to another card. Adding money to PayPal works the same way.
MoneyPak is a convenient way of adding funds to PayPal. You don’t need to have a bank account or a credit card. There are no bank fees or Credit Card interest charges. This is the only way you can add funds to PayPal without a bank account. And once you’ve added the money, you can transfer or use it instantly!
How to add money to PayPal?
It is quite simple really. You first have to buy a MoneyPak. You can buy this in the U.S or abroad from any major retailer such as Walmart, Walgreens, CVS/pharmacy, Rite Aid, Kmart, 7-Eleven, Kroger and Meije etc. You buy this with live money, so no credit card or bank transfer hassle. It’s your choice on how much money you want to put into the MoneyPak, which you then pay at the counter.
Once purchased, simply log on to your PayPal account, and click on Add Money. Select the MoneyPak option from there, and add the required information. You may first need to provide your name, address, date of birth and Social Security Number so that you can be verified by GreenDot. You can then add your purchased MoneyPak into your PayPal account, and the money will be transferred almost instantly.
Here’s a video explaining the process.
Fees and limits
You can put any amount of money into a MoneyPak ranging from $20 to $500. At Walmart, you can add up-to $1,000. Each MoneyPak has its own convenience fee of $4.95. For security reasons, PayPal restricts the amount you can add through MoneyPaks to $4,000 per month. There are no other hidden charges for adding funds into PayPal.
Unfortunately, MoneyPak is only available in places where there is a partner retail store. You can check whether it’s available in your area by visiting the MoneyPak Store Locator.
Once your money is transferred from your MoneyPak to PayPal, it will instantly be added to your PayPal account balance. You can then check your PayPal balance to see for yourself that the money has arrived. Now you can spend your money anywhere PayPal is accepted, including ebay!
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