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How to Open a Paypal Money Market Account

Contributor
By eHow Contributing Writer
(2 Ratings)

PayPal is a well-known way to pay for auctions and other purchases online. Its debit card, which offers cash back, is also a good way to earn a little extra money. The PayPal money market account offers a profitable method for using PayPal.

Difficulty: Challenging
Instructions
  1. Step 1

    Open a PayPal account. Confirm banking and credit card details in order to activate the account. Choose a back up funding method.

  2. Step 2

    Fund the account through either bank transfers or earning money through ecommerce. Use the back up funding anytime the first funding source is inadequate.

  3. Step 3

    Study the PayPal Money Market Fund prospectus. Read the entire contract and understand the risks involved in investing in this fund. Treat it as you would any other investment plan.

  4. Step 4

    Enroll your account into the money market fund. Receive shares of the fund that are bought with the money in your PayPal account.

  5. Step 5

    Buy and sell shares of the fund automatically every time you spend money from your PayPal account or add money into it. Keep your spending from the account to a minimum, as PayPal reserves the right to close your account for excessive activity.

  6. Step 6

    Earn dividends every month on your shares in the fund. Continue to fund your account and buy shares in the fund as long as the rate of return is favorable.

Tips & Warnings
  • Accounts are for short or long term investments and can be started with only $1.
  • Open a PayPal Money Market Fund account with the funds from your PayPal account.
  • PayPal posts its latest rate of return on its site. A recent rate is posted on the sign up page.
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