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Circlenaut

Circlenaut

Platinum Member
The current yield is 4.26%
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Unlike checking accounts, 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. Distributed by Funds Distributor, Inc. To learn more about the Fund and its expenses, read the prospectus carefully.
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That's what Paypal has to say about it. Is this safe? Hmm...
 
All they are saying is that a profit is not guaranteed. Most worthwhile investments come with that caveat, as do a lot of foolish ones.

Generally, the more potential an investment has to make money, the more potential it has to lose money.
 
Its a 4.26% APR, compounding monthly. And its insured up to $100,000

Honestly, its better than most credit unions/banks, and in terms of liquidty its better than a CD.

Im slowly investing more and more money in there.
 
Originally posted by: Cashmoney995
Its a 4.26% APR, compounding monthly. And its insured up to $100,000

Honestly, its better than most credit unions/banks, and in terms of liquidty its better than a CD.

Im slowly investing more and more money in there.
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Errrr wrong. Please try again. Money Market funds are not insured. And the fund compounds daily. The mm fund is run by barclay's...it won't go broke. If it does most likely the money in your FDIC account won't be worth anything either because the fund invests mostly in short term US treasuries. If the US treasury goes broke I'm afraid you have more to worry about than your $500 Paypal balance.

However, Paypal can freeze your money for no reason. Considering HSBC offers 4.25% savings it's not worth the 0.01% higher interest to the risk of paypal fraud.
 
Why wouldn't you just invest in a REAL money market fund and not get sucked into this Paypal nonsense? Paypal is known for screwing up with money and the end-user getting screwed sometimes. Go to a real bank or real stock broker
 
Originally posted by: Eeezee
Why wouldn't you just invest in a REAL money market fund and not get sucked into this Paypal nonsense? Paypal is known for screwing up with money and the end-user getting screwed sometimes. Go to a real bank or real stock broker
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And pay enormous fees that reduce your effective yield.
 
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