PayPal Money Market Fund?!?

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If you carry a balance throughout most of the month, you'll see some returns. When I worked there, a lady called in and asked if she could deposit $60,000 just so that she could take advantage of the money market. Of course, I said "Sure".

EFUT - take a look at the rate PayPal has, and what a lot of others are. They are very competitive and easier to deal with than most brokers. Also, they don't have the fees that a broker will charge you. Might want to do some research next time before just running your mouth. Just my opinion.
 
Romestar said:
I've said this on other forums before, but I think paypalsucks.com is just a site setup by a company to get you to use their service not paypals. How come when you click alernatives it only goes to one site?
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but it is backed by a community that really does hate paypal
 
I wouldn't trust them with an ongoing balance. They might randomly freeze your account when the balance gets high.
 
I agree... never keep money in your paypal account. I had around 2k in it, and had 1 chargeback for around $14. They froze my account, and said my account was high risk. I have over 1100 feedback, probably spent over 2k in paypal fee's, and they freeze my account for 1 chargeback for $14.

I faxed them all the information they could possibly want from me... cc, license, other photo ID, SIN, everything. Talked to probably 4 different reps on the phone, nada. I had to wait 180 days for them to release my money.

Meanwhile they had my 2k for half a year, and probably earned some decent interest off of it :(
 
I run the majority of my payment processing through paypal. There are better deals out there... but paypal is just so easy. I have my account enrolled in their money market fund, and I've never had any problems. I have constant money in there... so I might as well pull interest from it, it's free money.
 
Yeah too many horror stories.

I don't keep too much cash in there at any given time. Just enough to pay for recurring subscriptions I have set up and other things I pay for with paypal regularly.

It's a little risky to use them, but it's too easy to use to not use it. When I get large sums deposited every month I immediately withdraw.
 
I haven't had any problems with PayPal either. My balance there earns me roughly 5% whereas if I just moved it to my business savings/checking I'd be earning nothing on it.
 
the money market option is a good one, all else fails it doesn't hurt anything to have it on. Its just a bit of extra money. I wouldn't deposit a bunch of money into your account just for it but its a great way to compensate some of the lost fee money. I also use the paypal debit card as often as possible when buying something using the account cus of the cashback bonus. It balances out pretty well, but i also make sure to keep my account as low as possible cus of all the horror stories.
 
Romestar said:
I've said this on other forums before, but I think paypalsucks.com is just a site setup by a company to get you to use their service not paypals. How come when you click alernatives it only goes to one site?
Click to expand...

You would be thinking wrong, PayPal fucked me out of thousands, thats no joke and no fucking exageration, FUCK PAYPAL! Paypal does suck and you will to realize this when they freeze an account of yours with thousands of dollars in it! So yeah go ahead and send Paypal your money, when you can walk a block down the street to your local bank and achieve the same fucking thing!

:mad:
 
kyleirwin said:
I run the majority of my payment processing through paypal. There are better deals out there... but paypal is just so easy. I have my account enrolled in their money market fund, and I've never had any problems. I have constant money in there... so I might as well pull interest from it, it's free money.
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They usually freeze once you hit $10k (maybe less now) of transactions per month. Asking to revalidate your identity or business, and provide proof of inventory.

I've had mine frozen twice. Once to 'revalidate my account' and another for a chargeback I filed after being scammed on ebay. I still use them b/c there's really no other alternative, too many people use Paypal. Just don't keep a balance higher than you can afford to lose. My account freezings came after 2 years of no problems whatsoever, it'll eventually happen to you. All it takes is a chargeback or a random validation request.
 
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