PayPal Money Market fund

[AndyADH]

I have just needed to use Paypal for a transaction for the first time in ages and I have noticed that they now have an option for a money market fund where you can earn a return on your money.

It appears that this has been going for some time and I know the returns are not guaranteed as they are based on the market but it is easy access. I know there are accounts that guarantee higher returns but we are not talking a lot of money that will be left in the account.

I am more worried about losing money than making a great deal as this is money just used for buying things on Ebay so that I am not tempted to spend it like when its in my current account.

So has anyone used it and if so how were the returns? Or has anyone heard of any problems?

Any information would be great.

Thanks again

Andy

[madmat]

I cant see anything about a money market fund on the site, have you got a link?

[AndyADH]

Go to help and search for money market and it gives you a few bits of information.

It appears it is only available in the US well for $$ balances.

Although the fund is run by Barclays the only problem I see is it is not FDIC backed.

If anyone has any advice it would be gratefully received

Thanks again

Andy

[J_S_G]

AndyADH said:

Go to help and search for money market and it gives you a few bits of information.

It appears it is only available in the US well for $$ balances.

Although the fund is run by Barclays the only problem I see is it is not FDIC backed.

If anyone has any advice it would be gratefully received

I'll ask in the office next week; depending on whether it's BarCap/BGI/other part of Barclays Group run, I'll see what comes to the surface. It SHOULD be under my remit to some extent depending on where it's managed, but I'd never heard about it before!

[AndyADH]

J_S_G

Did you come up with any information?

Thanks again

Andy

[J_S_G]

AndyADH said:

J_S_G

Did you come up with any information?

Thanks again

Andy

Sorry bud - been out of the office (and largely out of touch) all week. Down in Canary Wharf for most of next week, so will have a better chance to do some digging then.

[andyadh]

bump.

Anyone heard of this?

JSG, Any luck yet mate.

Thanks again

Andy