Paypal Q (money market fund)

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CRX-YEM

CRX-YEM

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So does anyone have their paypal account enrolled in the paypal money market fund ?? Any reason not to do it ?
 
I was thinking it's better than not getting any interest at all on your paypal balances
 
Until they lose all the money.

Remember guys, paypal is only FDIC insured as a PASS THROUGH institution. It is not, and should not be treated as a bank. If you want a safe return on your money, put it in a CD or in treasury bonds.
 
i've had it for over 5 years. makes a good 70 cents a month :) never lost money. i just don't keep much of a balance in there anyway.

paypal is NOT FDIC insured AT ALL. they are insured by tavelers.
 
I keep about a thousand in there.. It was a great place to park easy to get to $$ when it was kicking 4.6+%

Its just lame now. All the same, I still get returns.. Little tiny ones, lol.
 
I opened opened up a ING Orange savings account through Sharebuilder.com yesterday. Seemed to have better rates then all the other banks. Might want to look into that.
 
I wasn't looking to specifically open an online account to make interest on my money. It's just an option that is available from paypal.
 
Nothing wrong with it at all, you won't loose anything. Some people are afraid to give up their social for tax reasons, but that is about the only draw back, if you are worried about that type of thing.

Also if you are using the PayPal debit card it is well worth it to enroll in the 1% cash back option. You may not be looking a lot of money but a few bucks here & there never hurts.
 
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