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expiredGambit57 posted Apr 18, 2023 04:41 PM
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expiredGambit57 posted Apr 18, 2023 04:41 PM

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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Apr 18, 2023 04:46 PM
5,419 Posts
Joined Nov 2007
MBZ321Apr 18, 2023 04:46 PM
5,419 Posts
Just open an account with Synchrony Bank....it's basically the same account.
7
Apr 18, 2023 05:04 PM
1,651 Posts
Joined Sep 2006
corpomonkeyApr 18, 2023 05:04 PM
1,651 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 09:24 PM
2,106 Posts
Joined Dec 2011
nevergoodenoughApr 18, 2023 09:24 PM
2,106 Posts

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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 03:42 AM
225 Posts
Joined Feb 2018
MacGruber77Apr 19, 2023 03:42 AM
225 Posts

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Weren't they also planning to fine you $2500 for spreading misinformation?
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Apr 19, 2023 03:48 AM
684 Posts
Joined Jun 2006
WonderfulWorkApr 19, 2023 03:48 AM
684 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 04:09 AM
15 Posts
Joined Oct 2018
Gambit57
Original Poster
Apr 19, 2023 04:09 AM
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 04:11 AM
6,007 Posts
Joined Nov 2012
George_P_Burdell
Pro
Apr 19, 2023 04:11 AM
6,007 Posts
Lol who's next
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Apr 19, 2023 05:26 PM
1,377 Posts
Joined Sep 2021
Wyvern1Apr 19, 2023 05:26 PM
1,377 Posts
I would never keep any large amount of money w paypal
Apr 19, 2023 06:19 PM
608 Posts
Joined Dec 2017
AutoEnthusiastApr 19, 2023 06:19 PM
608 Posts
if one already has a balance at Paypal, how does one move it to Paypal Savings?
1
Apr 19, 2023 08:50 PM
789 Posts
Joined Nov 2017
djangiApr 19, 2023 08:50 PM
789 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.
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Apr 19, 2023 08:56 PM
12,791 Posts
Joined Nov 2006
poohbieApr 19, 2023 08:56 PM
12,791 Posts

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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
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Apr 19, 2023 09:14 PM
124 Posts
Joined Sep 2010
neosaverApr 19, 2023 09:14 PM
124 Posts
cfg is at 5.02% APY

https://www.cfg.bank/personal-ban...sit-rates/
1
Apr 19, 2023 09:37 PM
19 Posts
Joined Nov 2012
RobertD2325Apr 19, 2023 09:37 PM
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 09:46 PM
14 Posts
Joined Mar 2019
OrangeHorn700Apr 19, 2023 09:46 PM
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 09:47 PM
1,668 Posts
Joined May 2010
ctzApr 19, 2023 09:47 PM
1,668 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..
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