Anyone ever try paypal money market?

[Rarethings]

I noticed (for some time now) that paypal lets you convert your paypal funds into shares in the money market. Has anyone ever tried this?

If so, did you get a decent Return? Any thoughts?

 

[dmyre]

I use it, and get my interest deposited by the 1st of the month:

Currently earning 4.03%

 

[alldig]

I use it too. Earning 4.03%

I don't really keep much in my paypal account so it doesn't make that much of a difference.

But beware:

"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."

Prospectus:

https://www.paypal.com/en_US/pdf/PayPal_Prospectus.pdf

 

[Focus]

its nothing to write home about..if you want to invest buy generic .coms

 

[Edder]

I use Paypal Money Market and it's rewarding & undoubtably easy to earn back a nice 4%.

 

[paulc]

never tried it, always thought it was a bit too risky as there are no guarantees...

 

[Rarethings]

thanks for the insight guys. It looks like a steady ~4% is the ROI. May have to try it. Mocus, you're definitly right about the generic .com's but this may be something to try also....

 

[dmyre]

Interest increased to 4.19%

 

[freestyler]

never used it.....dont plan to in the future as well....

 

[Rarethings]

For $xx,xxx its not worth it.

But for a few $x,xxx lying around in the paypal account...

 

[mike031]

For $xx,xxx its not worth it.

But for a few $x,xxx lying around in the paypal account...

that made no sense whatsoever.

 

[daddypi]

that made no sense whatsoever.

I concur - and I was going to make a statement regarding the poster, but 'tis the season to be jolly... right? :-D

 

[Joe]

that made no sense whatsoever.

couldn't agree more. lol :-O

-Joe

 

[Deleted member 4749]

mmarket s => 2 risky

 

[QuantumBeam]

mmarket s => 2 risky

agreed........

 

[Rarethings]

"For $xx,xxx its not worth it.

But for a few $x,xxx lying around in the paypal account..."

What I was trying to say hear, is that for a 5 figure amount investing in the money market is simply not worth it. You might as well invest in something real.

But if you have a few thousand just SITTING in your paypal account (that you are not using), then why not put it in the money market for a month or two?

 

[pelican]

what is the period of the 4% return? per annum?