I recently noticed that the Paypal Key virtual credit card can now be applied for using an ITIN, making it even easier for non-US citizens who don’t have an SSN number.
What is PayPal Key?
Simply put, a PayPal Key is a virtual credit card issued by PayPal that converts a PayPal balance, US bank account or US credit card (even a Visa/Master Gift Card) into a virtual credit card. PayPal Key’s partner issuer is Master Card.
PayPal Key registration and use
First of all, it should be clear that PayPal Key can only be generated by a US-based PayPal account and must have an SSN number.
Paypal Key Registration
US PayPal accounts require an SSN number to register, but now non-US residents can also bundle an ITIN number.
You can sign up for a business Paypal account and a private Paypal account using your name, the two accounts do not conflict with each other.
Hard Pull is not required to register with Payapl.
Follow the directions step by step to complete the registration.
The use of PayPal Key
Once you’re registered, you’ll need to choose whether you want to prioritize your balance and choose a bundled credit card or bank account.
Paypal will create a MasterCard virtual credit card number, this is what you get Paypal Key. Billing address can choose any address that is tied to your PayPal account, if you don’t like the card number, you can only delete the Paypal Key and apply for a new Paypal Key.
Each time you can change your card number before using it, go to the PayPal Key page and follow the prompts.
Business Paypal accounts are slightly more complicated to look for the Paypal Key in the bank card list.
- You can use Paypal Key to pay for your purchases, treating it like a regular bank card.
- Pay with Paypal Scan QR code payment can also use Paypal Key virtual card.
- If you can’t pay directly with Paypal at the place of purchase, then you can use the PayPal Key’s MasterCard virtual card number to make the payment, and the amount required to pay will be deducted from your Paypal account balance.
Features of PayPal Key
I think Paypal Key is the most powerful virtual credit card out there!
Benefits of PayPal Key
- It can be bundled with any card on Paypal for debit.
- You can delete and change the card number at any time
- Paypal Key is a type of debit card
- It belongs to the MasterCard organization and can be paid for from anywhere in the world.
- CVV code can be customized
Paypal Key allows you to switch between your credit cards at any time, so if you have a good grasp of each card’s limit, you can combine all your credit cards into one PayPak Key. The advantage that the card number can be changed at any time is very useful for those who need to shop online a lot!
As the Paypal Key is a debit card type, purchases at Plastiq, such as paying rent, are only subject to a 1% fee. You can bundle your PayPal Key with a Citi Double Cash card and go pay the Plastiq 1% fee, then get a 2% Cash Back.
PayPal Key shows Debit cards directly at Amazon, so it’s awesome.
Using a PayPal Key virtual card to pay your federal taxes saves you a fee expense because it’s a Debit type. There is also no fee for paying some fines, rent, and fees online.
It belongs to the MasterCard organization. So, if some merchants don’t accept Amex credit cards, you can switch PayPal Key to pay.
Note on the use of the PayPal Key
Use PayPal frequently to increase your account activity. If you don’t use PayPal often, you may be easily rejected when applying for a PayPal Key.
PayPal Key itself is a virtual card that can be used to sign up for a trial and pay for subscriptions. It can be used for normal merchant transactions, even for large amounts of money, and the purpose of Paypal Key is to provide convenience for everyone to make normal transactions.
Overall, I’d recommend signing up for Paypal Key and be aware that you’ll incur a foreign currency conversion fee for purchases made at non-US merchants, or for non-US dollar purchases.