Earn a Return on Your PayPal Balance

Live forum: http://forum.freeipodguide.com/viewtopic.php?t=41022

bullseye4u

10-06-2006 18:55:53

Paypal is very popular as you guys know so I was thinking is it worth signing up for the return balance


[u4949ca75be][b4949ca75be]Here what they say[/b4949ca75be][/u4949ca75be]
Immediate access Get your money just as fast as with your PayPal account.1 See the prospectus today.


No minimum investment Invest as little as $1.00 USD in the Money Market Fund. You don’t have to worry about maintaining a certain balance.


Managed by experts PayPal’s Money Market Fund is managed by Barclays Global Investors, international experts who oversee over $1.50 USD trillion in global assets.



Enroll today - it's easy! You need a PayPal account to sign up. Log into your account, then click Money Market at the bottom of each page. Your PayPal account will work the same – except now, you'll earn a return on your money. And with the PayPal Debit Card, you’ll get convenient access to your balance.

Enroll in the PayPal Money Market Fund today!

Note Investments in the PayPal Money Market Fund are not insured by the FDIC. Past performance does not guarantee future results. Although the fund strives to maintain the value of your investment at $1.00 USD per share, it is possible to lose money by investing in the fund.


Is it safe anyone had experience with it?

dmorris68

10-06-2006 19:12:21

I've had the Money Market Fund, including the plastic PayPal debit card, for a couple years now. It's great, the return is better than anything you'll get at a bank, and you get cashback on your debit card purchases (currently 1% but I was grandfathered in at 1.5%). They also recently upgraded the debit card to allow backup funding if you wish. Before, you could only use the debit card for funds in your PayPal account, but now if you attach backup funding to it and overspend, they will automatically hit your CC or bank account for the rest. Making it easier to buy something and partially fund it with your PayPal balance.

As their terms state, MMF's are not FDIC insured, but neither are they through your local bank, because it's an investment fund. So they're not as "safe" as a passbook savings account, but they're not riskier than anybody else's MMF.

JKirk

10-06-2006 19:21:21

I was thinking about doing this also since I just received my debit card in the mail. ) Tell me how it goes, Bullseye.

bullseye4u

10-06-2006 19:30:10

before I sign up dmorris you said you had it, so that means you dont have it now? If so Why not?

About how much you earned or lost with the return balance?

Admin

10-06-2006 19:30:32

personally i don't feel the need to give those scamming pricks yet another excuse to take all of my money

EatChex89

10-06-2006 19:55:28

yea it's cool, I get about 20 cents a month for only having like $80 in there or so, and i'm always taking money out and stuff. But anyway, I'm going to keep in like $400 or so in, so we'll see how much of a return I get.

Crynos

10-06-2006 20:47:35

Why not just open an ING account? (Or Emigrant, higher rate but i prefer ING because ING seems more secure)

dmorris68

10-06-2006 20:59:03

[quote27ec9c5b72="bullseye4u"]before I sign up dmorris you said you had it, so that means you dont have it now? If so Why not?

About how much you earned or lost with the return balance?[/quote27ec9c5b72]
I still have it -- I said "I've had..." meaning I've had it for awhile. ;)

I've never lost anything. Can't tell you how much I've made over the years because I haven't really kept up with. I haven't been keeping a big PayPal balance lately, although I think I'm going to transfer some savings over there since the return is so much better. When I was eBay'ing a lot I left the money in there and remember being pleasantly surprised at how much dividends I earned plus the cash-back was nice.