Has anyone ever done the PayPal money market fund? Should I do it?
July 16th, 2010
It says ean a return on your paypal balance.
When you sign up for the Fund, your PayPal balance will translate into shares of the Money Market Fund, though the function of your PayPal account will not change. You will be assigned shares of the PayPal Money Market Fund automatically, and you will begin to earn monthly dividends. In addition to dividends, you are entitled to participate in events such as shareholder proxy votes.
The current yield is 5.04%* Learn more.To sign up instantly for the PayPal Money Market Fund, please enter your Social Security number and Date of Birth below.
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Tags: current yield, date of birth, dividends, money market fund, paypal account, proxy, shareholder, social security, social security number
My answer is advertising-free.
The source link below is Paypal’s Help page.
I do it, and I don’t see any downside. My reasoning goes like this: do I want to earn interest on the money that is otherwise just sitting in my paypal account?
Reasons against include: small paypal balances give you very little interest, and if you link your paypal account to checking (for example) you might have a zero balance all the time and then there is no value at all.
To me it means "free money". If your paypal balance is ever non-zero, then go for it. To get more questions answered, go to the paypal site, click on Help, then click on "Money Market" under "Financial Products" to see all sorts of FAQs, such as "Is it safe?" (yes, it is safe).
I usually have a balance of a couple hundred dollars in my account, so I do it and it works fine, no complaints. As far as I remember, it wasn’t any work, and I get a couple dollars a month in interest.
Basically, at the end of the month a line item will show up in your activity with something like "Paypal MM Divident – $xx.xx"
If you have money in there normally, there is no reason not to do it as far as I know.