rucky
(1000+ posts)
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Thu Oct-20-05 11:32 AM
Response to Reply #11 |
12. ok, you sign up for an account |
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and transfer some money from your existing bank account to your Paypal money market account.
There it sits. They issue you a debit card & you earn competitive interest rates - just like a regular savings account. The difference is, under "account settings" you can assign which currency you want to hold your money in (they also give the exchange rates they're working off of). You can do a combination of diferent currencies when they ask you how much of your cash you want to convert.
Then, when you check your account, your balance displays - itemized by whatever currencies you're saving in. You're safe as long as your currency is strong against the dollar. When you need to liquidate, you can go back to the dollar at whatever the exchange rate may be at the time.
Did that make more sense?
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