PayPal savings account 4.91%

[Excalibur]

I'm nervous to give PayPal 5k due to their practice of closing and messing with accounts. However off I legitimately put 5k into my PayPal savings account I could make almost 5%. Can anyone confirm its safe or that there is something better?

[notanonymous]

I'm nervous to give PayPal 5k due to their practice of closing and messing with accounts. However off I legitimately put 5k into my PayPal savings account I could make almost 5%. Can anyone confirm its safe or that there is something better?

5% on a paypal savings account?  Where do you see that?

[Excalibur]

https://www.paypal.com/webapps/mpp/paypal-prepaid-mastercard

[CountValentine]

On the first 5k only.

[alpicone]

⁵ The optional Savings Account is made available to Cardholders through The Bancorp Bank; Member FDIC. To participate in the Savings Account program, Cardholder must consent to and continue receiving Communications from us in electronic form. If Cardholder is subject to Internal Revenue Service backup withholding at the time of the request to open a Savings Account, the request will be declined. Interest is calculated on the Average Daily Balance(s) of the Savings Account and is paid quarterly.

If the Average Daily Balance is $5,000.00 or less, the interest rate paid on the entire balance will be 4.91% with an annual percentage yield (APY) of 5.00%.
If the Average Daily Balance is more than $5,000.00, the interest rate paid on the portion of the Average Daily Balance which exceeds $5,000.00 will be 0.49%, and the interest paid on the portion of the Average Daily Balance which is $5,000.00 or less will be 4.91%. The annual percentage yield (APY) for this tier will range from 5.00% to 0.72%, depending on the balance in the Savings Account.

[notanonymous]

On the first 5k only.

So, basically you have to wait a year for $25.  Let me jump on that one.

[CountValentine]

So, basically you have to wait a year for $25.  Let me jump on that one.

Don't spend it all in one place. 

[Excalibur]

My wife can open also, comes out to $500. If there's no reason not to its the best I can find in savings accounts now. Are there better options?

[myb821]

So, basically you have to wait a year for $25.  Let me jump on that one.

try $250

[notanonymous]

My wife can open also, comes out to $500. If there's no reason not to its the best I can find in savings accounts now. Are there better options?

Ein hachi nami, for money sitting around.  I am not in that matzav right now, so not thinking along those lines.

[Shmulyg]

Looks good to me!

[churnbabychurn]

the card has a 4.95 monthly fee?

[menachem_m]

⁵ the interest rate paid on the entire balance will be 4.91% with an annual percentage yield (APY) of 5.00%.

Paying devils advocate for a minute, The implication is that it's 4.91 כל זמן that the APY = 5%
Lower down it says the APY is "variable bet 5% & 0.72%.
What's stopping them from dropping the APY to 0.72%?
And while that may be an extreme example, going down to 2% isn't.

[mawmaw]

FDIC ?

[BBM]

Paying devils advocate for a minute,

You mean playing?

[Excalibur]

So is this the highest yield savings account?

[Shotguns]

are you able to transfer money from the prepaid card back to your paypal account?