OK, got it today and activated it. What it does is give you an available balance based on the GBP amount in your paypal account. It appears to ignore any other currencies. So the balance shows as available in BOTH your paypal account AND the card account. When you spend on either one or the other, they both reduce. When you get more funds into Paypal, they both increase. Makes sense?
The card has mastercard and paypass. Wasn't exactly sure what paypass is, so had to google that. Appears to be some type of pinless thing for amounts under £15. That's pretty cool ->
http://www.mastercard.com/uk/personal/en/paypass/index.htmlLimits and Fees (taken from accompanying booklet);
Daily Cash withdrawal limit; £250
Limit Per Transaction; £1500
Daily Transaction Limit; £1500
7 day Transaction Limit; £3000
7 day Cash Withdrawal Limit; £1500
Cash Withdrawal ATM fee; £2
Foreign Cash withdrawl ATM fee; £3+ 2.75%
Foreign Exchange fee; 2.75%
Replacement Card; £4.95
Paper Statement Fee; £5
Internet Gaming Fee: 3%
I suppose it's more useful to have the card than to not have it.
I probably won't hardly use it, I think.