Odnal.com

I have two accounts with PayPal, each with a sizable balance.  I keep a large part of my savings there because PayPal’s Money Market fund is completely liquid (I have a debit card for it), and it earns a higher interest rate higher than any ‘high yield’ savings accounts that I’ve ever seen. Over the past year, it has hovered around 4.9%, and with the recent market conditions has dropped to 3.99%.  Over that period of time, PayPal has been consistently at least a half of a percent higher than banks I have investigated.

I checked my PayPal accounts today to find out what January’s dividends were and I was shocked. My first account had a deposit of less than a dollar, and the other account, with less money in it, was a couple dollars. (usually these are in the $30-50 range). Something weird must be going on at PayPal. I understand that recent market trends have been troubling, but I would at least expect both of my accounts to receive the same rate.

I submitted an email to PayPal’s customer service, so I’ll see what they have to say.