- Impact
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Below is an email I just received from PayPal. If you use their money market, this affects you.
Just FYI that ebay corp is continuing to skim more money from the users of their services...
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PayPal's Money Market Fund has delivered competitive returns, with no minimum investment or balance required. As a result, over the years, many investors have placed their money in the Fund.
Even as the Fund has grown, PayPal has continued to pay the costs of administering the Fund — without any reimbursement. However, beginning March 1, the Fund will start to reimburse PayPal for a portion of its expenses, which include legal, technical, compliance and advisory services, and related charges that are customary for mutual funds. As a result, the yield of the Fund will be reduced by 0.25% (one quarter of one percent).
PayPal's Money Market Fund will continue to have no minimum investment or balance. And you'll continue to have the same immediate access to your money. (Note: Redemptions can occur only on business days.)
Thanks for being part of the Money Market Fund.
Sincerely,
PayPal
Just FYI that ebay corp is continuing to skim more money from the users of their services...
-----
PayPal's Money Market Fund has delivered competitive returns, with no minimum investment or balance required. As a result, over the years, many investors have placed their money in the Fund.
Even as the Fund has grown, PayPal has continued to pay the costs of administering the Fund — without any reimbursement. However, beginning March 1, the Fund will start to reimburse PayPal for a portion of its expenses, which include legal, technical, compliance and advisory services, and related charges that are customary for mutual funds. As a result, the yield of the Fund will be reduced by 0.25% (one quarter of one percent).
PayPal's Money Market Fund will continue to have no minimum investment or balance. And you'll continue to have the same immediate access to your money. (Note: Redemptions can occur only on business days.)
Thanks for being part of the Money Market Fund.
Sincerely,
PayPal
