Скачать или смотреть I Used PayPal 4.3% APY Savings Account in 2024 and I Actually Got Paid

SUMMARY AND KEY TAKEAWAYS

Sign up for PayPal Account here: https://py.pl/dCVLv

Who is the PayPal Savings Account for? Well, if you use PayPal at all or if you have a PayPal account for online payments on Amazon, eBay, BestBuy, and the likes, then you might want to consider taking advantage of a PayPal Savings Account. In this video, I share my thoughts on PayPal High Yield Savings Account so that you can decide if it is worth it or not.

PayPal is offering a 4.3% APY savings account and PayPal as a company is responsible for online payments that serve as an electronic alternative to traditional paper methods such as checks and money orders for sending and receiving money. In 2008 the company started issuing credit accounts after they acquired a company called Bill Me Later, which was later rebranded as PayPal Credit. Since then, they have expanded their business and ventured into cashback rewards programs and cryptocurrency accounts.

Recently in 2021, the company launched PayPal Savings as an opportunity for their users to open a high-yield savings account. The account is serviced through Synchrony Bank, which is a publicly traded, FDIC-insured virtual bank that has been around for over 90 years. In fact, if you have a credit card from companies like Walmart, eBay, Amazon, Sam’s club, and many others, you might notice that Synchrony bank provides these cards, and they are the number 1 provider of private label credit cards in the United States.

Also, PayPal Savings has a 5-star rating on U.S. News.com and they have been shown to outperform some banks such as discover and Varo. That said, I choose to use PayPal Savings Account in the last six months and also help you determine if such an account is for you. Personally, there were 4 main factors that I considered.

1. First, it is a high-yield savings account with a 4.3% APY which is already 10 times the national average for traditional savings accounts.
2. Secondly, I am very happy to do my banking online due to convenience.
3. Thirdly, I am both familiar and comfortable with moving and managing my money via the PayPal mobile app.
4. Once you open a PayPal Savings account, you can take advantage of digital tools that let you set short- and long-term goals. You’ll be able to track your progress, and seamlessly transfer money between your various goals as your priorities change over time.

So, how do you access a PayPal Savings Account? Well, you have to start with a typical PayPal account by going to https://py.pl/dCVLv. Select signup and choose the personal account option. All you need at this step is an email account and a phone number. Once you setup your account, under the finances tab, you will automatically have the opportunity to use features such as Savings, Crypto, and even credit accounts.

When you get into the mobile app, you will have access to your PayPal Balance, PayPal Credit, PayPal Savings, and Rewards Account. Note that you can easily move money around from balance to savings and vice versa. To the bottom line, is the PayPal Savings Account worth it? Well, the account is free to use, it is easy to set up and pays interest of 4.30% APY on whatever balance you have sitting around. So, yes, I think it is worth, especially since I also have the peace of mind that my money is FDIC insured.

If you’re already a PayPal user or now considering PayPal, it could be a great way to help your money grow. If you do not already have a PayPal account and you now wish to sign up, use this link to set up your account today: https://py.pl/dCVLv


TIME STAMP
00:00 Intro
00:27 About Me
00:47 About PayPal Savings Account
02:04 4 Reasons Why I chose PayPal savings Account
02:51 How to open a PayPal Savings Account
03:16 How to navigate and use the PayPal Mobile App
04:16 How to use the Savings Feature on PayPal Mobile App
06:44 Is the 4.3%APY from PayPal worth it?
07:07 Outro
08:00 Blooper/Cameo from @thescholarshipcafe (link to her channel in description)

Catching up Ola:    / @thescholarshipcafe  

DISCLAIMERS AND DISCLOSURES
This video is strictly for education and informational purposes only, not an official financial advice. I am not a financial expert. Everything discussed in this content is based on my experiences and personal findings. Advice in this video does not account for risk tolerance and the possible loss of investment principal. Please speak to a financial advisor before making any final decisions.

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