They're paying 4.49% on any balance you keep with them.
I think I like PayPal...
- Thread starter johnbryanpeters
- Start date
When did they start doing this?
Is that their MoneyMarket Account John?
Yeah, it's the money market. I just investigated this morning. I think brick and mortar banks can say bye-bye.
do you have to pay any fees to remove the funds from that account to make a paypal payment though?
Not that I am aware, and I believe that I can transfer direct to my credit card or bank account. I have not explored it fully.
Yes SIR!the Inbred said:
Funny - those brick and mortar banks continue to open more and more branch offices every day. You'd think they'd be smarter than that.johnbryanpeters said:
Please do JBP!
I've been wondering about that. I started reading their fine print one night until my eyes started glazing over on like the tenth page...
Wow..that's huge. Interest is one of the main reasons I never keep money in my PayPal account...why keep it there when you can earn interest in a bank, and transfer instantly. This changes a lot.
Any links to an article on this? I can't find anything on their website about it.
Log on to your account and there will be an "earn interest" link next to the balance.Ridemonkey said:
Nope....I wonder if it's US accounts only...if so I'm going to break something...johnbryanpeters said:
Might be, because of tax laws if nothing else.Ridemonkey said:
I signed up for it.
I have been using it and it doesn't seem to cost to transfer out funds. it is a nice feature for sure.
They might be charging me and I don't notice because I keep so little in there.
They might be charging me and I don't notice because I keep so little in there.
I think that'd be more useful for an Argentinian, but I'll take it...you never know...BeerDemon said:
I remember them sending me an email about something to this effect...I never really looked into it, but I think there was some fine print stating that its not FDIC insured or only insured to a certain amount.
I mean, I dont think paypal is going anywhere...but if that is true it would be something to think about if you are putting larger balances in that account.
I mean, I dont think paypal is going anywhere...but if that is true it would be something to think about if you are putting larger balances in that account.
h22ekhatch said:
I've had my account since PayPal was x.com (1996?), the first online only bank. It was sweet, but I hardly ever used it. Then one day my checking acount becasme a PayPal account.
I don't keep more than a couple hundred in there if anything, but it's my "fun money" since the wife isn't on it.
I don't keep more than a couple hundred in there if anything, but it's my "fun money" since the wife isn't on it.