PayPal users can now receive cards and checks for ATMs.

Electronic payment system PayPal introduces new services that will bring the portal closer to the status of a real bank.

Фото: Depositphotos

We are talking about the introduction of traditional banking services, including the issuance of ATM-compatible debit cards, checks and deposit insurance according to FDIC standards, writes The Verge.

Intending to do all this, the company still does not have a banking license in the United States. PayPal will provide these services by entering into a partnership with several small banks that have the right to provide them. So actually providing services will not PayPal, and different banks in several US states.

PayPal provides these services only to a small group of clients. Their use is free and does not require any specific minimum balance. on the account, but users must pay a fee for using ATMs that are not part of the network PayPal. In addition, they will have to pay 1% of the amount of any check that they deposit to their account by scanning this document through the smartphone’s camera.

According to Bill Redi, Operations Director PayPal, the company is not going to replace traditional banks, instead it wants to offer banking services to customers who cannot use them in traditional banks, since they do not have accounts there or for some other reason. According to the company's forecasts, those who already have a bank account are unlikely to be interested in such services.

Read also on ForumDaily:

8 free ways to send money to friends and relatives

Financial Lessons from Donald Trump

How to restore or improve a credit rating in the USA

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.