Paypal Money Market Fund?

**itsahumanzoo** · 09-11-2008, 12:45 AM

I guess this technically falls under the category of investments.

Anyway, I am a member of pinecone research, and I get my payments deposited into paypal. I don't do anything with this money except maybe order the occasional batch of coupons, etc. I saw a little banner for the money market fund, and I was wondering if anyone knows more about it?

I figure this isn't really hard earned cash, and if it's sitting in my paypal most of the time anyway, why not have it work for me?

Any advice is appreciated!

**tbs727** · 09-11-2008, 11:02 AM

In the super savers lesson of Financial Peace University, Dave says to keep your emergency fund in a money market account because he says it will acquire the most interest. He also says they normally have checks that you can use when you have an emergency (instead of transferring). HTH

**itsahumanzoo** · 09-11-2008, 12:32 PM

It said on the site that the return averages about 2.35%. Not the highest return ever, but I thought maybe it would be better than nothing. I'm just worried about losing money I guess.

**Greebo** · 09-11-2008, 12:50 PM

I'd get a more local account, in a local bank, if you're concerned about security or accessibility. Or check out Schwab or ING - who, while remote, issue debit cards and checks.

**itsahumanzoo** · 09-11-2008, 04:22 PM

We have an ING account, but not a money market fund. I guess I was just wondering about the paypal one since the money from the surveys is directly deposited into it, and it just sits there. I'm not talking huge amounts of money, it usually has $30 at the most in it.