Comments on: ING DIRECT Rate Increase http://www.mynewchoice.com/2006/11/29/ing-direct-rate-increase/ Debt free, financially independent and retired early Wed, 07 Jan 2009 14:05:27 +0000 http://wordpress.org/?v=2.6.5 By: mnc http://www.mynewchoice.com/2006/11/29/ing-direct-rate-increase/#comment-1139 mnc Wed, 28 Feb 2007 23:32:44 +0000 http://www.mynewchoice.com/2006/11/29/ing-direct-rate-increase/#comment-1139 While you are correct that PayPal pays a higher interest rate, I don't think that is a viable solution for me because they are not FDIC insured and PayPal has a history of freezing entire accounts without much notice. That is enough for me to not use PayPal for a savings vehicle as I would rather take a slightly lower rate than expose myself to those risks. But as I wrote about more recently, my funds are now at HSBC taking advantage of their 6% promo rate. While you are correct that PayPal pays a higher interest rate, I don’t think that is a viable solution for me because they are not FDIC insured and PayPal has a history of freezing entire accounts without much notice.

That is enough for me to not use PayPal for a savings vehicle as I would rather take a slightly lower rate than expose myself to those risks.

But as I wrote about more recently, my funds are now at HSBC taking advantage of their 6% promo rate.

]]> By: Tech http://www.mynewchoice.com/2006/11/29/ing-direct-rate-increase/#comment-1135 Tech Wed, 28 Feb 2007 23:15:32 +0000 http://www.mynewchoice.com/2006/11/29/ing-direct-rate-increase/#comment-1135 Have you seen how much paypal is paying? It is over 5%! Have you seen how much paypal is paying? It is over 5%!

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