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The card will only be available to use with funds already in your Square Cash account, and you can't spend from your backup funding source.
Begin utilizing your backup funding to get you through the crux of the project.
So you can use your debit card to access the backup funding source--your bank account or credit card--and still earn the 1-percent cash back.
If you have any backup funding sources listed, debit card transactions will draw on those funding sources once you deplete your PayPal balance.
If you use a rewards credit card as a backup funding source, you'll also earn rewards points for every transaction that draws funds from the credit card.
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The backup fund is intended to help them avoid that.
It has also lined up additional funding until mid-January, when the backup fund takes effect.
The backup fund still needs the blessing of the major credit rating agencies.
But if the backup fund helps SIVs avoid sell-off, those investors may lose less money.
And the backup fund may not cushion the blows as much as originally thought.
The backup fund will not help troubled structured investment vehicles survive.
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CEO of Professional Science Editing for Scientists @ prosciediting.com