You Can Now Deposit Cash to PayPal at Your Nearest CVS or Rite-Aid
Android / iOS: PayPal can be a decent way to transfer money online, but if you’re using cash, PayPal certainly doesn’t have a local branch where you can deposit money. Still. The latest app update now allows for CVS and Rite-Aid deposits.
According to the latest changelog for the PayPal Android and iOS apps, users can now walk into any of these major pharmacies and show the barcode to the cashier. They scan the code and you can then transfer your cash to your PayPal account. While it may seem odd to make a cash deposit at a pharmacy, it is a convenient method for those who use online banking. Once your money arrives at PayPal, transferring to most other online banks should be relatively easy.
Update: As one reader pointed out, this is not without a fee. In the app’s FAQ section, PayPal notes that there is a $ 4 commission per deposit, as well as a $ 500 daily maximum and a $ 4,000 monthly maximum for a cash deposit. This makes it a pretty bad way to throw away the $ 20 your buddy gave you for pizza. However, it can still help when you need to transfer rent money between roommates.
PayPal | ITunes App Store