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Old 07-21-2020, 04:02 PM   #8
V8COOPMAN
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Join Date: May 2010
Location: East Shore of LAKE HOUSTON
Posts: 11,106
Default Re: receiving paypal payments

Quote:
Originally Posted by GB SISSON View Post
I got my money finally, but think of the interest they stood to make on MY money.

Well, probably not near what you're thinking. On an extra account that you might use for PayPal, you can only expect to receive 'savings account' rates, which today average roughly 0.05% APY. Have you ever figured out what ONE TWENTIETH of ONE percent amounts to, even on $12 grand? Comes to about $6 bucks a year. You have to invest (wisely) that money somewhere besides a savings/checking account to even hope for some significant 'interest'. $12K INVESTED in the right places three months ago might have just paid you back a few bucks, though.


Believe me, I appreciate the reason for your post....it sucks, the way those guys operate sometimes. It can be a handy service at times, but I've heard far too many 'hen-house' stories about that operation, and reason-enough why I have NEVER had anything to do with that bunch. DD
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