PayPal paying me 4% yield. no shit

[Brick Tamland]

Im not big on investin but dont savings accounts pay about 1%-2%. I see that paypal is paying 4% so im bringin my balance to 5 figures. To top it off paypal gives 1% cash back on purchasses with their debit card. I was antipaypal after ebay bought it but this looks nice.

anyone else using paypal as a savings and is there any other ways for me to get this kind of quick return while keepin my $ spendable?

[bigboydan]

brick, i had some friends of mine who got there money stolen out of there accouts before. so, you might wanna check the sercurity out with a fine tooth comb. before you do that bro. just a heads up is all.

[freebie]

scary stuff. maybe the interests are not worth the trouble. Thanks BBD.

[Brick Tamland]

I hear horror stories but id bet most of those people had someone in their home spend there money.

One of the Country’s Highest Yielding Money Market Funds*
Unlike checking accounts, money market funds are neither insured nor guaranteed by the FDIC or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 USD per share, it is possible to lose money by investing in the Fund. Distributed by Funds Distributor, Inc. To learn more about the Fund and its expenses, read the prospectus carefully.

The PayPal Money Market Fund is an easy to use investment option for users. Barclays Global Fund Advisors ("BGFA"), a subsidiary of Barclays Global Investors, N.A., has provided asset management services for over 25 years. As of February 29, 2004, BGFA and its affiliates provided investment advisory services for over $1.0 trillion of assets, making them one of the world’s largest and most experienced money managers.

The results? According to Lipper, the Fund ranks #1 among 367 investment companies as the nation's highest yielding retail prime money fund.* Plus, PayPal requires no minimum investment in the Fund, and we put no limits on withdrawals.

The PayPal Money Market Fund invests in high-quality, short-term securities—like U.S. Treasury bills or notes—that emphasize attractive yields combined with safety of money.

Current Yield:4.00%


PayPal Money Market Yield: 4.00%
Avg. Interest Bearing Checking Account: 0.69


7-day average yield as of 11/25/2005. Yield varies over time.

Source: Bankrate.com. Average interest checking rate as of 10/31/2005. Interest from a bank is FDIC insured.

[Brick Tamland]

im waiting for one of the stock investors to come in and tell me there is a savings type that will give the same thing. I definitely dont wana get locked into a mutual fund.

[begolf25]

Hey Brick,

Check out the ING Direct Savings Account they are paying around 3.5% right now. I have had some money stored away with them for quite awhile with no problems. You can link your account right up to a checking account to send funds back and forth pretty easily.

[darkghost]

Yea ING is great. You can also set up links to E*Trade.

[Quarm]

Ive used PP before they stopped supporting gambling, cant say bad things about them for that time. I always thought the money is save there, but maybe i was wrong lol.

[picantel]

money is not safe there. I had someone hack into mine and then hack into my bank account with it. Paypal could not give a rats ass about it. They only get involved if a ********** is done and then it is against the victim usually. They also like to freeze large accounts for no reason. I would not use paypal if they gave me 100% interest.

[misteve]

Emigrant.com currently has 4% APR on savings account. I have ING at 3.50% and will probably go up due to competition with banks such as Emigrant. Your PayPal is competitive, but I just feel more comfortable with ING.

[David]

Superiorsavings.com currently has 4.50% APR. That's the highest I've seen.

[pags11]

pretty sweet interest rate...

[bigboydan]

Superiorsavings.com currently has 4.50% APR. That's the highest I've seen.

have you ever used this place before david. if so, what are they like ?

[sergfro]

Emigrant.com currently has 4% APR on savings account. I have ING at 3.50% and will probably go up due to competition with banks such as Emigrant. Your PayPal is competitive, but I just feel more comfortable with ING.

Dont ever try calling ING for customer support because they'll charge you....thats why they have high rates

[David]

have you ever used this place before david. if so, what are they like ?

I have an account with emigrant right now. Came across them while searching for a higher rate. I'll be opening an account there if emigrant doesn't raise their rate soon.

Here's a list of the highest rates right now if anyone is interested...

http://www.bankrate.com/brm/rate/mmmf_highratehome.asp?params=US,416&product=33&sort=2

[misteve]

I have an account with emigrant right now. Came across them while searching for a higher rate. I'll be opening an account there if emigrant doesn't raise their rate soon.

Here's a list of the highest rates right now if anyone is interested...

http://www.bankrate.com/brm/rate/mmm...duct=33&sort=2

Be a bit careful with Emigrant.....I checked them out and the 4.0% APR is good through Dec 31st, 2005. Chances are it will stay the same after that, but one never knows.

[Brick Tamland]

Hey Brick,

Check out the ING Direct Savings Account they are paying around 3.5% right now. I have had some money stored away with them for quite awhile with no problems. You can link your account right up to a checking account to send funds back and forth pretty easily.

This is perfect... exactly what i want. Can Emigrant be hooked up to go back and fourth as well??
I really know shit about this as you can see. im Ol school...keep my money under the floor in a fireproof safe. Its good when your cheatin ho of a wife comes around for money to for her boyfriends highschool graduation gift.

[misteve]

Yes, Emigrant, like ING can be easily linked to you checking account. Takes a few business to set up, because you have to send or fax something in and then wait for two small deposits to me made into you checking account to verify, and then you're all set. Then you can easily transfers funds to and from your savings account and your checking. It can take, if I recall 2-4 business days for the transaction to go through....so it's not right away, but good enough for me. I suppose if I really needed to withdrawl money from the savings account, I'd just make sure I do it a few days to week ahead of time, to make sure I have it in time.
Hope this helps.
BTW, I've used both Emigrant and ING, and currently am with ING.

[Brick Tamland]

Thanks Misteve. This shit is awesome. I never knew I could get a savings acct at 4%.

last question before i get on the site...any transaction fees??????????

[David]

No transaction fees Brick.

[pags11]

good to see we have some good financial wizards on the site...