PayPal Questions; Earn Returns on PayPal

[Jon855]

PayPal offers some %3.22 Yield Returns on my funds. Is this a good idea?

 

[LeetViet]

Link to said feature please.

 

[SouthPaW1227]

It's NEVER a good idea to tie up any large amount of money in PayPal.

Go through INGDirect (use a referrer and you each get $25 added to your account...I don't have one, but I'm sure if you ask someone will PM you) and get great rates at a SECURE bank.

PayPal is entirely to flaky...store your funds in a reliable place.

 

[amdskip]

It's not FDIC insured thus not a real bank, ING direct is much better.

 

[keeleysam]

I signed up for it, but I never keep more than $50 in my account.

 

[chambersc]

it's a money market account. i wouldn't because it's not proteched by FDIC.

 

[Pepsei]

ING is better

 

[Raiden256]

Resurrecting this -- would this interest income be reported to the IRS?

 

[amdskip]

Raiden256, I suggest you edit that out. Is it income, yes. Will it be reported, assume that it will.