Paypal's moneymarket interest rate is around 5% right now, which is competitive, if not just better than, local savings and cd rates. My temptation is to use paypal as a place to store some savings, like up to $8000 over the next year or so. I'm curious if others are doing the same? Are there any reasons not to? It's still relatively liquid, right?
Is paypal good for a savings account? Are there any dangers in keeping a high balance with paypal?
Absolutely not! Unless you wish for your money to disappear. Look at this site for the horror stories: http://www.paypalsucks.com .
Reply:You are so stupid!! Paypal is completely safe!! The reason people say it is bad is because if you use Paypal for anything illegal or violate their TOS, then they will cancel your account. And the people that are making these claims have done something that was their fault and they deserved it! Report Abuse
Reply:try this https://www.moneybookers.com/a... u get 100 usd free just signing Report Abuse
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