1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Paypal Q (money market fund)

Discussion in 'Members' Lounge' started by CRX-YEM, Aug 17, 2009.

  1. CRX-YEM

    CRX-YEM Super Moderator Moderator VIP

    Messages:
    4,623
    Likes Received:
    54
    Joined:
    Sep 29, 2002
    Location:
    Wallingford, CT
    So does anyone have their paypal account enrolled in the paypal money market fund ?? Any reason not to do it ?
     
  2. capricefrk013

    capricefrk013 is waiting for summer

    Messages:
    364
    Likes Received:
    7
    Joined:
    Sep 5, 2007
    Location:
    NE OHIO
    What is it? Ive never heard of it.
     
  3. awptickes

    awptickes unimpressed by you VIP

    Messages:
    9,272
    Likes Received:
    497
    Joined:
    Aug 29, 2007
    Location:
    MD
    Yes. Plenty of reasons not to do it, their return sucks.

    Buy I-Bonds instead.
     
  4. CRX-YEM

    CRX-YEM Super Moderator Moderator VIP

    Messages:
    4,623
    Likes Received:
    54
    Joined:
    Sep 29, 2002
    Location:
    Wallingford, CT
    I was thinking it's better than not getting any interest at all on your paypal balances
     
  5. awptickes

    awptickes unimpressed by you VIP

    Messages:
    9,272
    Likes Received:
    497
    Joined:
    Aug 29, 2007
    Location:
    MD
    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.
     
  6. Briansol

    Briansol Admins Admin VIP

    Messages:
    21,449
    Likes Received:
    2,110
    Joined:
    Nov 18, 2007
    Location:
    CT
    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.
     
  7. awptickes

    awptickes unimpressed by you VIP

    Messages:
    9,272
    Likes Received:
    497
    Joined:
    Aug 29, 2007
    Location:
    MD
    What's tavelers?
     
  8. CRX-YEM

    CRX-YEM Super Moderator Moderator VIP

    Messages:
    4,623
    Likes Received:
    54
    Joined:
    Sep 29, 2002
    Location:
    Wallingford, CT
    So B. overall better than not making anything right ?
     
  9. Briansol

    Briansol Admins Admin VIP

    Messages:
    21,449
    Likes Received:
    2,110
    Joined:
    Nov 18, 2007
    Location:
    CT
  10. phyregod

    phyregod !!YTINASNI

    Messages:
    9,449
    Likes Received:
    225
    Joined:
    Jun 11, 2005
    Location:
    Central Texas
    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.
     
  11. Briansol

    Briansol Admins Admin VIP

    Messages:
    21,449
    Likes Received:
    2,110
    Joined:
    Nov 18, 2007
    Location:
    CT
    yeah, it used to be 5-6%, and then we elected... oh never mind
     
  12. corvetteguy78

    corvetteguy78 Well-Known Member VIP

    Messages:
    3,516
    Likes Received:
    290
    Joined:
    Feb 19, 2007
    Location:
    CT
    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.
     
  13. CRX-YEM

    CRX-YEM Super Moderator Moderator VIP

    Messages:
    4,623
    Likes Received:
    54
    Joined:
    Sep 29, 2002
    Location:
    Wallingford, CT
    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.
     
  14. SwapShopRacing

    SwapShopRacing Member

    Messages:
    227
    Likes Received:
    0
    Joined:
    Sep 9, 2007
    Location:
    650n Barranca ave #a Covina, Ca 91723 (626) 261-4
    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.
     
Verification:
Draft saved Draft deleted

Share This Page