PayPal kicked off a daily $1,000 giveaway with Green Dot’s MoneyPak at the beginning of this month. It’s been running for two weeks but don’t worry, there’s still plenty of time to enter to win. The PayPal/MoneyPak promotion is running until November 14, 2010.

In addition to the $1,000 a day giveaway promotion, every customer who has never used a MoneyPak to add money to their PayPal account is eligible for a $10 offer. In order to receive the $10 offer, you must first register your PayPal email address, then purchase a MoneyPak and transfer the money to your PayPal account by 11/14/2010.

The concept behind MoneyPak seems fairly simple. It allows customers to use PayPal and shop on eBay without using a credit card or bank account. It basically works as a “cash top-up card.” First, you purchase and load a MoneyPak with cash at one of the retail locations (50,000 nationwide including Walmart, Walgreens and 7-Eleven). Then you go online to the PayPal Add Funds page, click the MoneyPak option and provide your unique MoneyPak number located on the back of the card.

One of the primary customer benefits I can see from using a MoneyPak card is speed. Unlike funding my PayPal account from my bank account (where I have to wait anywhere from 3-5 days for the money to be available for shopping), MoneyPak funded accounts are instantly available. Granted, there is the added step of adding funds at a retail store.

For more information check out the dedicated PayPal / MoneyPak promotion site and the separate MoneyPak FAQ page.

Cheers,
RBH