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alnorth
03-08-2006, 09:05 PM
So, there I am paying off an ebay auction for some tickets when I notice an ad for paypal's money market account. Not the highest return in the world, but the convenience is difficult to beat, nearly unlimited buy and sell privileges, basically a place to park your money when you dont have a bill to pay for a few weeks.

I had been thinking about getting a short-term money market anyway because I want to buy a car later this year, and wanted to build enough for a big-ass down-payment.

Anyone heard anything about it? I was just going to leave a hundred or so in the checking account every payday, but apparently I can transfer money in and out unlimited without fees. If it means I have a few dozen extra dollars in interest on car day, great. (they make money by skimming a little of the return off the top.)

Short Leash Hootie
03-09-2006, 12:44 AM
lots of bad things are said about paypal...

you might want to check out www.paypalsucks.com...

Taco John
03-09-2006, 01:41 AM
I've used Paypal for 5 years without incident.

HMc
03-09-2006, 05:05 AM
Can't you get a risk free account with a bank that offers more than 4.25%?

I've got an account with ING Direct that offers 5.40%. No minimum, no fees. It takes 24 hours to get the cash out to your normal bank but hey.

Bob Dole
03-09-2006, 05:19 AM
I've got an account with ING Direct that offers 5.40%. No minimum, no fees. It takes 24 hours to get the cash out to your normal bank but hey.

Which product is giving you that sort of return?

Count Zarth
03-09-2006, 06:35 AM
I've used Paypal for 5 years without incident.

I've been using it for about a year now, no problems.

Get plenty of phishing e-mails, though. :rolleyes:

alnorth
03-09-2006, 06:33 PM
Can't you get a risk free account with a bank that offers more than 4.25%?

I've got an account with ING Direct that offers 5.40%. No minimum, no fees. It takes 24 hours to get the cash out to your normal bank but hey.

Hey, good find. There's a savings account from ING direct that pays 3.8% yield APY with no fees, no minimum balances, and quick access to the money. Its obviously not a great long-term investment, but as a place to park short-term money and at least earn something before spending it, this will work.

Thanks, I'll actually go with ING instead of paypal. You never know what kind of good advice youll get outta Chiefsplanet on any topic.

mikey23545
03-09-2006, 07:28 PM
lots of bad things are said about paypal...

you might want to check out www.paypalsucks.com...

Lots of bad things are said about Paypal by idiots that don't understand encryption and secure websites, but who willingly hand their credit cards over to any 18 year old who waits tables in a restaurant....

Nelson Muntz
03-10-2006, 03:03 AM
I've been using it for about a year now, no problems.

Get plenty of phishing e-mails, though. :rolleyes:



Well if your dumbass would quit falling for them.

Bob Dole
03-10-2006, 07:23 AM
Bob Dole still wants a link to the 5.4% return product...

ChiefsfaninPA
03-10-2006, 09:09 AM
Bob Dole still wants a link to the 5.4% return product...


You won't find a savings that high, but INGDirect is at 3.8 but if you deposit money before April 15 they will pay you 4.75. That is what I have done. Been using them for 3 years and never had a problem with them also.

Count Zarth
03-10-2006, 10:27 AM
Well if your dumbass would quit falling for them.

Idiot.

Bob Dole
03-10-2006, 11:28 AM
You won't find a savings that high, but INGDirect is at 3.8 but if you deposit money before April 15 they will pay you 4.75. That is what I have done. Been using them for 3 years and never had a problem with them also.

Bob Dole saw that, but was trying to figure out how the Aussie claims to be getting 5.4.

skye22f
03-10-2006, 11:43 AM
Bob Dole saw that, but was trying to figure out how the Aussie claims to be getting 5.4.

The 4.75% though is only for the first 6 months or so, right?

I'm with Emigrant Direct, that's 4.25% forever.

HMc
03-10-2006, 08:52 PM
Bob dole.

http://www.ingdirect.com.au/personal/savings_max.htm