PayPal Money Market at Nobullshit Network Forum

**sharonsopinion** · 03-19-2007, 02:10 AM

You can earn interest on funds in your PayPal account by switching it to a Money Market account...

I'm not sure when they opened up the Money Market portion of PayPal's growing number of services. It's just like an offline Money Market account. Interest varies per month. Funds can be deposited and withdrawn directly to your bank account or use their debit card. (Transfer to and from bank takes 3-5 business days,)

Here is the link for the information... PayPal Money Market (Or go to PayPal, scroll to the bottom and click on Money Market.)

Currently the ROI is 5.03% APR, calculated on a 7-day average and compounded into your account monthly. (APR is the ROI per year.) It's been well over a year since I switched my account to Money Market, so I don't remember their criteria.

Here's an excerpt:

Quote:

*7 day average yield as of 3/8/2007. Yield varies over time. 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. Learn more about the Fund in the prospectus. The PayPal Money Market Fund is designed primarily as an automatic sweep investment for uninvested cash balances in PayPal customer accounts. Distributed by Funds Distributor, Inc. PayPal is not affiliated with Funds Distributor, Inc. or with Barclays Global Investors.

JMO,
Sharon

**allinvain** · 04-10-2007, 09:23 AM

Quote:

Originally Posted by sharonsopinion

You can earn interest on funds in your PayPal account by switching it to a Money Market account...

I'm not sure when they opened up the Money Market portion of PayPal's growing number of services. It's just like an offline Money Market account. Interest varies per month. Funds can be deposited and withdrawn directly to your bank account or use their debit card. (Transfer to and from bank takes 3-5 business days,)

Here is the link for the information... PayPal Money Market (Or go to PayPal, scroll to the bottom and click on Money Market.)

Currently the ROI is 5.03% APR, calculated on a 7-day average and compounded into your account monthly. (APR is the ROI per year.) It's been well over a year since I switched my account to Money Market, so I don't remember their criteria.

Here's an excerpt:

JMO,
Sharon

Hmm..It doesn't work when I try to visit that page (PayPal spews some error)..

After some googling I found another direct link here:

PayPal Money Market Fund - PayPal

Also I am wondering of this service is available only to USA account or if us canucks (Canada) can join too.

**sharonsopinion** · 04-10-2007, 08:11 PM

Hi Alin,

PayPal supports different versions of their script for different countries. If you look at the URL after you log in it will include /US/ for the US and I assume /CA/ for Canada. I do know from a friend of mine that /NE/ is for the Netherlands, so some countries are grouped together.

If Money Market is available to your country, you will see the link in your version of the software. It may only be open to the US, I'm not really sure. If you're receiving an error after you log in, then it's not open to your country. If you're unsure, send them an email and ask.

JMO,
Sharon

grateful · 04-11-2007, 01:27 AM

I know many people have 'issues' with PP, but if used wisely, it can be a beneficial financial tool. In addition to MM accounts, if you use the PP debit card, but chose "credit" (don't use your PIN), when buying things - POS - you get money back based on a percentage of the sale. I use it at the pump; it does help to defray the increasing price of filling up.

grateful

**allinvain** · 04-11-2007, 02:03 AM

Quote:

Originally Posted by sharonsopinion

Hi Alin,

PayPal supports different versions of their script for different countries. If you look at the URL after you log in it will include /US/ for the US and I assume /CA/ for Canada. I do know from a friend of mine that /NE/ is for the Netherlands, so some countries are grouped together.

If Money Market is available to your country, you will see the link in your version of the software. It may only be open to the US, I'm not really sure. If you're receiving an error after you log in, then it's not open to your country. If you're unsure, send them an email and ask.

JMO,
Sharon

Hmmm..I tried that, but after I log it does not take me to any page or anything related to opening a MM account, it just takes me to my usual main page. I guess I'll have to call them.

**allinvain** · 04-11-2007, 02:05 AM

Quote:

Originally Posted by grateful

I know many people have 'issues' with PP, but if used wisely, it can be a beneficial financial tool. In addition to MM accounts, if you use the PP debit card, but chose "credit" (don't use your PIN), when buying things - POS - you get money back based on a percentage of the sale. I use it at the pump; it does help to defray the increasing price of filling up.

grateful

yep grateful, PayPal is very convenient..for me having the ability to accept credit cards from people who purchase stuff from me on ebay is very covenient. So far I haven't ran into the dreaded problems people say Paypal has, but I suppose I don't transact large sums or frequently enough to be "visible" on their radar.