Commbank large amount transfers. How do they work
If you wish to send very high amounts with Commbank, you may need additional assistance of transfer approvals. Let’s see how large transfers work with this bank
PayPal rewards (credit) card in Australia.
Reward credit cards have been popular for many years, allowing customers to earn points/cashback on everyday spending.
A popular rewards credit card for Australian customers was the PayPal Credit Rewards Card (Credit Card), however, significant changes were made to the program in October of 2022 after the further partnership PayPal had with Citibank.
This guide will cover how the PayPal credit reward card worked for customers in Australia, what changed, and how you can continue to get credit card reward points with PayPal.
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Wise Account
Who is PayPal in Australia
PayPal has been available to customers in Australia since 2005 and over 7 million customers have opened accounts since the beginning of PayPal’s Australia operation.¹
PayPal is a financial technology company that acts as a middleman between customers and their banks. Their service allows customers to send and receive money by linking a bank account or debit/credit card to a PayPal account, providing the ability to pay for online services with a chosen payment method.
Money can be stored within a PayPal account and customers can use their merchant services for ecommerce businesses. The PayPal platform is available in over 20 markets across the world, allowing merchants to receive money in over 100 currencies, withdrawing funds in 56 currencies and store PayPal balances in 25 currencies.¹
The PayPal Credit Rewards Card
The PayPal Credit Rewards Card was a popular credit card that allowed customers to earn points when spending money with PayPal. Customers earned 1 point for each $1 AUD debited during the statement period, which could then be redeemed against selected transactions.²
There was no annual fee for the card, and customers also had access to select concierge services.²
Is the PayPal Rewards Card Available in Australia?
The PayPal Credit Rewards Card program was closed on 16th October 2022 and is no longer available in its original form to PayPal customers.³
What Happened to the PayPal Credit Card Program?
The PayPal credit card program was closed in October 2022, however, the rewards program is still available to existing cardholders via Citibank.³
Current customers of the PayPal Credit Rewards Card were notified via PayPal’s updated Terms and Conditions that their account would no longer be associated with PayPal, and customers would instead need to register with Citi Online and the Citi Mobile App to manage their rewards.²
They were also sent a new Citi-branded card that required activation online or via the City Bank customer service department. If customers failed to activate their new card by 30th November 2022, they would have been sent a cheque by PayPal for the amount accrued via the points balance. The rewards balance would then have been reduced to zero.²
| Read more: PayPal vs Wise (ex.TransferWise) in Australia |
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How to Continue to Get your Credit Card Reward Points with PayPal
While the PayPal Credit Rewards Card program closed, PayPal created a new system by which customers could collect points on everyday spending while using PayPal.
The new program allows customers to link existing reward credit cards with PayPal accounts, enabling customers to pay via PayPal and still collect points via existing credit card reward schemes.⁴
Does PayPal Offer any Credit Cards in Australia?
Since closing its reward credit card in 2022, PayPal hasn't released any new credit cards for the Australian market. However, they do offer customers the ability to pay in instalments with their Pay in 4 credit system.
This provides PayPal customers with the ability to pay for goods/services from select stores in 4 interest-free payments, with no sign-up fees or late fees.⁵
How to contact PayPal
PayPal can be contacted via the below routes:
- Phone: 02 8223 9500 - Open 8am - 8pm AEST Monday - Friday
- PayPal Help Centre
The Wise Account and Debit Card
The Wise Account is a multi-currency account that allows customers to keep, receive, spend and send money.
Not only can you use your Wise Account to hold and convert over 50 currencies, but you can order your own Wise Debit card to connect to your Wise Account and spend online or overseas at the mid-market rate — just like the one you see on Google.
Forget unexpected international transaction fees or high conversion rates, say hello to the world with the Wise Account.
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| Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information. |
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Sources:
- PayPal - About
- PayPal - Cards FAQ
- PayPal - PayPal Rewards Card (Credit Card) PDF
- PayPal - Credit Card Rewards
- PayPal - Pay in 4
Sources checked on: 22 March 2023
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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