Paypal Money Market Accounts....Anyone who have used I've got a few Q's

@taface412 (3175)
United States
September 26, 2008 8:15am CST
Has anyone used the Paypal Money Market account? I was just checking my paypal account and noticed they have a way to enroll in a Paypal Money Market account. You can invest as little as $1.00 and the 7-day average yield is 2.48%. I know it is a little amount, but I do know it is good to invest. And according to my guru Orman Money Market accounts are the way to go. On the site it does point out that it is not FDIC insured and that you may even potentially lose money in the investment. Which I also know is possible with any type of investment. So here are my big Q's for any of you who know of this and/or have used it:1. Is it safe to enroll through your paypal if you have a verified account (meaning linked to your checking)?2. How much have you made on a small investment?3. Bad experiences with this type of investment?4. And basically overall how does this work? Does it compound quarterly, monthly, etc.?Thanks in advance to all of you who answer this.
2 people like this
3 responses
@mysdianait (65104)
• Italy
26 Sep 08
Thank you for this discussion! I am hoping users will give you some input because I have seen it suggested in the past and am wanting to hear from users about their feelings too!
1 person likes this
@taface412 (3175)
• United States
26 Sep 08
You're welcome and I hope someone does answer these q's because it would be nice as a stepping stone to learn about investments. I may pose the question on the orman's website and watch her show for the answer....if I can ever remember when it is on LOL
@lovenluck (1068)
• India
26 Sep 08
Does this mean It's a paypal supported hyip program. i too will be waiting for the inputs here for if it then i sure would love to invest At the site. i have been searching for such a program and This could just be the answer. Will keep my fingers crossed lol
• United States
26 Sep 08
I'd like to know what kind of responses you get too. I guess with any investment is best to never risk more than you can afford to loose. I'll check it out and see if its a solid investment.