Trying to understand the paypal money market?
@njrealestategirl (369)
United States
October 7, 2007 10:49pm CST
I opened up a money market account and I think I get the concept of when money comes in (you have more shares) in your account and when money goes out (you lose some shares). Is that right? When do you actually earn money on the money market account? I know people who have money market checking accounts, etc. and earn money - is that the same concept here? I guess I should have asked before opening a money market but I only opened it last week and now am really curious. Thanks.
1 person likes this
5 responses
@fineartist (1217)
• United States
8 Oct 07
I have a paypal money market fund, too.
I will tell you what I know about it, which is that its rate of interest is not bad.
It is currently about 5.21 %.
We are paid dividends on a regular basis.
The greater amount of money you have in your money market fund, the larger the dividends will be.
If you don't already have a paypal debit card, I recommend your getting one.
:)
1 person likes this
@njrealestategirl (369)
• United States
8 Oct 07
Thanks for your response. I do have a debit card too. How do you tell when the dividends post to your account and how much they are? Thanks.
@theproperator (2429)
• United States
11 Oct 07
I don't have a paypal money market, but I do have one as my savings account with my regular bank. With that account, I get the earnings each month on my statement, the same way you would get interest on a regular savings account. I would assume that paypal works the same way.
