Paypal Investing - Tilted Forum Project Discussion Community

Rekna · 06-09-2006, 08:32 AM

I have thinking about putting some money in a paypal account for a while now and I am wondering if anyone else has done this and what their experiences are.

The reasons i'm thinking about doing this is the money is easily liquidatable. I can transfer it to my bank account within 3 days with no fees, spend it on ebay, or use their debit card. The debit card is nice because it has 1% cash back. In addition money sitting in your account is placed into their money market account which is currently getting around 4.75%. As far as I can tell there is no minimum balance and there is no fee's whatsoever.

Has anyone else looked into this?

Jinn · 06-09-2006, 08:42 AM

I'd be wary, simply because they can freeze your account at will, with little justification, and just as little in way of customer support.

Check out http://paypalsucks.com/

captobvious · 06-09-2006, 10:12 AM

I've kept some money in my PayPal account for 3 years, and I haven't run into any problems at all. The rate on their money market fund has been consistently high throughout the entire time, and there's no minimum balance or fees. I also have the debit card which is nice because you get the 1% back right away.

VirFighter · 06-09-2006, 10:16 AM

Have you looked at emigrantdirect? Savings account with a 4.25% return. Might not be quite as high as paypal and you can't use it on eBay, but probably a little more secure.

http://www.emigrantdirect.com

06-09-2006, 08:32 AM	#1 (permalink)
Rekna Junkie	Paypal Investing I have thinking about putting some money in a paypal account for a while now and I am wondering if anyone else has done this and what their experiences are. The reasons i'm thinking about doing this is the money is easily liquidatable. I can transfer it to my bank account within 3 days with no fees, spend it on ebay, or use their debit card. The debit card is nice because it has 1% cash back. In addition money sitting in your account is placed into their money market account which is currently getting around 4.75%. As far as I can tell there is no minimum balance and there is no fee's whatsoever. Has anyone else looked into this?

06-09-2006, 08:42 AM	#2 (permalink)
Jinn Lover - Protector - Teacher Location: Seattle, WA	I'd be wary, simply because they can freeze your account at will, with little justification, and just as little in way of customer support. Check out http://paypalsucks.com/ __________________ "I'm typing on a computer of science, which is being sent by science wires to a little science server where you can access it. I'm not typing on a computer of philosophy or religion or whatever other thing you think can be used to understand the universe because they're a poor substitute in the role of understanding the universe which exists independent from ourselves." - Willravel Last edited by Jinn; 06-09-2006 at 08:46 AM.. Reason: Automerged Doublepost

06-09-2006, 10:16 AM	#4 (permalink)
VirFighter Insane Location: Raleigh, NC / Atlanta, GA	Have you looked at emigrantdirect? Savings account with a 4.25% return. Might not be quite as high as paypal and you can't use it on eBay, but probably a little more secure. http://www.emigrantdirect.com __________________ "The South is gonna boogie again" - Disco Stu

06-09-2006, 10:12 AM	#3 (permalink)
captobvious Insane Location: Somewhere	I've kept some money in my PayPal account for 3 years, and I haven't run into any problems at all. The rate on their money market fund has been consistently high throughout the entire time, and there's no minimum balance or fees. I also have the debit card which is nice because you get the 1% back right away.