Paypal and their Money Market

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Jorsoft

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Does anyone here use Paypal's Money Market Fund to earn a return on their money? It looks like a great way to earn high interest rates on my savings account but I want to know how it works more clearly and how safe/reliable it is. Does anyone know more?
 

Chankama

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Ever been to http://www.paypalsucks.com ?? :).. Personally, if I have to use Paypal, I'd just do the essentials.. To put it quite simply I don't trust them.. But sometimes, you don't have a choice. I don't have a paypal account for various reasons. But if I was ever forced into one, I'd create a bank account just for them and clear the money out as soon as possible..
 

Jorsoft

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I haven't read a *lot* in this website by now, but I want to confirm something. Are you sying that if I put my money in Paypal's account I will have no legal protection? that's what I seem to be hearing but I want to be sure.
 

Chankama

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Oh I am not talking about the communication links man. Any one of us can set up a secure SSL channel to carry out secure communications.

It's what these guys "do" with your account that's fishy.... "Freezing" your account sometimes for no apparent reason (well for retarded reasons) and not taking care of u when your item doesn't get delivered and such.. Forgot all the stories :p. Should read that site man..

And they are not a credit card agency. They don't give u the same protection.. It's good to get a credit card involved with Paypal if you can.. They don't like this btw.. ;).. Guess why?
 

Jorsoft

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I'm not too worried about not having my item not be delivered, as with large purcahses I try to use a money order whenever possible. PayPal is for smaller items so I can receive them quickly. However, I want to know what I can expect if I put a few thousand dollars into their money market account and how safe it can be. I will research this site more.
 
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