Have you ever walked into a 7-Eleven store and felt the need to keep your on-hand cash in your electronic wallet? No? Or maybe you had the urge to buy a steam game online using that on hand cash. Well, now apparently, you easily can.
Powered by Green Dot, PayPal Cash which allows its users to deposit cash into their PayPal accounts was launched last spring in select retail stores. PayPal Cash has just recently placed 7-Eleven's name to its list of retail partners. The list already includes CVS and Rite Aid. 7-Eleven, which grabbed the Number 1 spot in Franchise 500 this year, is the first convenience store location offering PayPal Cash.
All you really need to do is: take your on hand cash then bring it to 7-Eleven branch; use the PayPal app on Android or iOS to generate a barcode, which you then hand over to the designated cashier for scanning. After they scan it, you then give them your money, and the money finds it way to your PayPal account.
Users, however, need to take note that you only can deposit a maximum of $500 per day, and up to $4,000 per month. This might be so to prevent any money laundering schemes. In addition, there is also a $3.95 fee that you are going to have to pay every time you use the service. You might have to think twice about depositing small amounts of cash. However, if you have a lot of money you need to deposit and 7-eleven is the closest within your reach, then by all means, go.
Paypal and Greendot previously offered a $1 PayPal account credit to its very first 50,000 shoppers who use the PayPal Cash service between December 16-31, 2016. What it did was provide $1 as a credit to users' PayPal account within 14 days of reload.