Paypal - A Reliable Banking Choice ?

PayPal is almost as popular as Google for people who perform online money transactions. It has developed popularity for its secure and easy transactions online. However, PayPal also offers a savings and checking account of sorts. You can store money in the bank and with the ATM/debit card you can even earn rewards redeemable with PayPal accounts as you use the card. However, it is a very nontraditional checking account because it uses a checking card, but not checks. Also, PayPal is not a member FDIC, which means that the money you deposit in the account is not backed by the government. Many other online banking services are insured by the government so that if it fails, your deposits are protected up to $250,000.

When selecting an online banking service, PayPal is often the most recognizable name. Its accounts are accepted by virtually every online vendor and it is nearly synonymous with online shopping. When you are setting up an account with PayPal, you do not have to worry about any monthly minimums or deposits. There are no fees associated with the accounts, which makes it very simple to manage.

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