Paypal Money Market Fund

Should I sign up for the paypal money market fund to earn a return on my balance? Is it safe I mean?

Well there is a risk, but every one of my paypal accounts has been earning a variable rate (usually around 3.0%) for over 6 months without any problems.

I've banked over $500 from it so far. Helps with those damn fees like you wouldn't believe.

I think it's safe, but I still don't do it. I hate PayPal and I'd rather not give them ANY reason to steal more of my money.

yeah i was just thinking with the ammount i have in my account i could make a decent ammount back every month.

I don't know the Paypal specifics for the account, but money market funds, in general, are very safe (low %, low risk). I also hate Paypal though...

sign up for ING Direct instead and bank 3.30% off their Savings Account. I got a reflink if u want.

I am earning 3.38% - it's safe - what are they going to do, you are not doing illegal stuff.

[quote1a4c90ab31="cartrenroy"]I am earning 3.38% - it's safe - what are they going to do, you are not doing illegal stuff.[/quote1a4c90ab31]
It doesnt have to do with legality, it has to do with PayPal stock.

Right now we are earning 3.xx% monthly letting paypal use the money in our account to invest.

If they were to make A LOT of bad investments with our money, it could all be lost.
You have to agree to a whole big sha-bang before they let you get into the money market.

As far as I can tell, or have heard, the only way it would ever not pay out, is if the entire stock market plunged. In which case we'd all be screwed anyway.

You can make a hell of a lot more than 3.38% if you invest you own money in the market - even if you pick an index fund you'll make 7 or 8%.

[quotefef87100ac="doylnea"]You can make a hell of a lot more than 3.38% if you invest you own money in the market - even if you pick an index fund you'll make 7 or 8%.[/quotefef87100ac]

Yes, but with index funds you cant take the money out whenever you want. Evidently there is also a higher risk than money markets that you will lose money. Sometimes the mutual funds have shit gains like 1 percent and the brokerage will charge you with load-on fees or watever. Paypal's money market is not FDIC insured. ING Direct is, but money markets are very very low risk because they usually try to keep their share value at $1.