Leaving money in paypal / money market

Discussion in 'PayPal' started by zan23, Jun 28, 2007.

  1. #1
    Is there any danger in leaving lots of money in your paypal account, rather than transfer it to your bank account?

    Paypal has a money market fund in which you can earn interest on your paypal balance.
    It was around 5% interest last time I checked, which is a lot more than I get from my bank's saving account.
     
    zan23, Jun 28, 2007 IP
  2. aGig

    aGig Well-Known Member

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    #2
    aGig, Jun 28, 2007 IP
  3. eddy2099

    eddy2099 Peon

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    #3
    Well, if you have the option to keep your funds in Paypal's Money Market, it will definitely be great to keep it there.

    Basically if you are not doing anything wrong and stay within their TOS, your money should be safe.
     
    eddy2099, Jun 28, 2007 IP
  4. xujiayu

    xujiayu Banned

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    #4
    lol i'd rather get cash out first. sometime paypal will suck and closed your account w/ noticing u. So i'd rather get cash in hand.
     
    xujiayu, Jun 28, 2007 IP
  5. mauricehaynes

    mauricehaynes Peon

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    xujiayu is a scammer.Be careful everyone!
    He exchanged paypal with me and all refunded!
    He should be banned!!

    Maurice
     
    mauricehaynes, Jun 28, 2007 IP
  6. dbullet007

    dbullet007 Peon

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    #6
    With all the horror stories about Paypal... I prefer to withdraw my money ASAP from there.. and invest it somewhere else. I assume that 5% you mention is monthly interest?
     
    dbullet007, Feb 7, 2008 IP