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expired Posted by Gambit57 • Apr 18, 2023
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expired Posted by Gambit57 • Apr 18, 2023

Paypal Savings Account High Yield 4.15%

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Pretty good rate for savings account on Paypal. Has all the usual features like no minimums, no fees, etc.
Only downside compared to other banks is, there doesn't seem to be any sign up bonus if you already have a paypal account.

https://www.paypal.com/us/digital...art-saving
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Pretty good rate for savings account on Paypal. Has all the usual features like no minimums, no fees, etc.
Only downside compared to other banks is, there doesn't seem to be any sign up bonus if you already have a paypal account.

https://www.paypal.com/us/digital...art-saving

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84 Comments

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Apr 18, 2023
5,360 Posts
Joined Nov 2007
Apr 18, 2023
MBZ321
Apr 18, 2023
5,360 Posts
Just open an account with Synchrony Bank....it's basically the same account.
7
Apr 18, 2023
1,637 Posts
Joined Sep 2006
Apr 18, 2023
corpomonkey
Apr 18, 2023
1,637 Posts
Just moved my money from Capital One to Apple Savings by Goldman Sachs. 4.15% APY. Also an option if you already have Apple Card.
1
11
Apr 18, 2023
2,060 Posts
Joined Dec 2011
Apr 18, 2023
nevergoodenough
Apr 18, 2023
2,060 Posts

Our community has rated this post as helpful. If you agree, why not thank nevergoodenough

ufb 5.0
never in my life would I trust PayPal with my money, they freeze my money for no reason every time someone pays me. Thats not their savings program but def don't trust them.
2
5
Apr 19, 2023
219 Posts
Joined Feb 2018
Apr 19, 2023
MacGruber77
Apr 19, 2023
219 Posts

Our community has rated this post as helpful. If you agree, why not thank MacGruber77

Weren't they also planning to fine you $2500 for spreading misinformation?
1
1
3
Apr 19, 2023
656 Posts
Joined Jun 2006
Apr 19, 2023
WonderfulWork
Apr 19, 2023
656 Posts
Can you pay your bills using these saving accounts? Regular saving accounts usually charge fees if you have many transactions each month. Don't know if these accounts also have this kind of limit. Just don't want to keep money in the checking account, I don't write checks at all.
1
Original Poster
Apr 19, 2023
15 Posts
Joined Oct 2018
Apr 19, 2023
Gambit57
Original Poster
Apr 19, 2023
15 Posts
Quote from WonderfulWork :
Can you pay your bills using these saving accounts? Regular saving accounts usually charge fees if you have many transactions each month. Don't know if these accounts also have this kind of limit. Just don't want to keep money in the checking account, I don't write checks at all.
I don't think there is a restriction on the number of transactions. Just that you'd have to transfer the amount to your paypal balance and then withdraw to a bank or make payment.
Look for "Limitations on Electronic Fund Transfer Services" here:
https://www.paypalobjects.com/mar...4250%2C000.
1
Pro
Apr 19, 2023
5,768 Posts
Joined Nov 2012
Apr 19, 2023
George_P_Burdell
Pro
Apr 19, 2023
5,768 Posts
Lol who's next
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Pro
Apr 19, 2023
1,290 Posts
Joined Sep 2021
Apr 19, 2023
Wyvern1
Pro
Apr 19, 2023
1,290 Posts
I would never keep any large amount of money w paypal
Apr 19, 2023
575 Posts
Joined Dec 2017
Apr 19, 2023
AutoEnthusiast
Apr 19, 2023
575 Posts
if one already has a balance at Paypal, how does one move it to Paypal Savings?
1
Apr 19, 2023
758 Posts
Joined Nov 2017
Apr 19, 2023
djangi
Apr 19, 2023
758 Posts
Quote from Wyvern1 :
I would never keep any large amount of money w paypal
Exactly. I once trasferred 3k to a friend who was in urgent need using paypal. Paypal restricted the transfer showing security reasons and it took a month and 10-12 phone calls from both parties to resolve this. After that, I stopped using paypal for money transfers. Zelle or venmo are much better alternatives.
1
3
Apr 19, 2023
12,623 Posts
Joined Nov 2006
Apr 19, 2023
poohbie
Apr 19, 2023
12,623 Posts

Our community has rated this post as helpful. If you agree, why not thank poohbie

Quote from djangi :
Exactly. I once trasferred 3k to a friend who was in urgent need using paypal. Paypal restricted the transfer showing security reasons and it took a month and 10-12 phone calls from both parties to resolve this. After that, I stopped using paypal for money transfers. Zelle or venmo are much better alternatives.
Venmo is owned by Paypal.
1
8
2
Apr 19, 2023
123 Posts
Joined Sep 2010
Apr 19, 2023
neosaver
Apr 19, 2023
123 Posts
cfg is at 5.02% APY

https://www.cfg.bank/personal-ban...sit-rates/
1
Apr 19, 2023
19 Posts
Joined Nov 2012
Apr 19, 2023
RobertD2325
Apr 19, 2023
19 Posts
Quote from AutoEnthusiast :
if one already has a balance at Paypal, how does one move it to Paypal Savings?
Open a PayPal Savings account. Once it's opened you can move the money from PayPal to the PayPal Savings account.
1
Apr 19, 2023
14 Posts
Joined Mar 2019
Apr 19, 2023
OrangeHorn700
Apr 19, 2023
14 Posts
4.15% is amazing, higher than what I have with BofA, Capital One, and Discover. Fortunately I haven't had the issues others are talking about.
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Apr 19, 2023
1,626 Posts
Joined May 2010
Apr 19, 2023
ctz
Apr 19, 2023
1,626 Posts
Why suddenly, everybody is offering bank service.... I guess it is easy money for them. Get higher interest from Fed. Offer lower interest to customers. Basically, they are earning money w/o doing anything..
2

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