Online savings accounts I can open with and tranfer from paypal?

[kimandkathess]

I was wondering if anyone knew of and good an reliable savings accounts I can open online and open it up with my paypal balance and continue to transfer from paypal balance.

I sell and would like to be able to put the money aside that I accumulate from my sales. DH uses the paypal card weekly for a bill. I have the paypal debit card tied to my checking. I am the only one with an actual debit card for my checking account. So needless to say when he uses the debit card from paypal to pay that bill, it takes out my paypal earnings first and whatever is left comes out of our checking.

I would love to be able to get payments from sales and then send to an online savings account. I don't want a money market account. I know the interest is higher but you are not guarenteed the money will stay in there.

I am kind of afraid of investing because there is no guarentee you keep your money which is why I would rather say with a guarenteed low interst savings account.

So what I need is:
1.Online savings account
2.No minimum opening balance
3.No fees
4.Be able to open with and tranfer from paypal as well as finally transfer to checking or something in the future. Plan on putting all he savings aside for money towards a new house.
5.Possible

So is there such a thing?

Thanks for any help!

[justmama]

Maybe smartypig. I love them and have 6 accounts. Not sure if you can do a PP transfer though. I opened w/ my regular checking. You can set goals and either add money automatically through a monthly/bi=monthly draft or as you want. I have one for my rebates. When i get a check i deposit in to my BOA account then transfer the money. Smarty pig pays interest. You can also purchase GC's at a discount through them.

You can PM me if you want more details.

ETA: Congrats on saving for a house. With SP you set up goals w/ a date to meet that goal. I currently am saving for

Rebates (i set the goal at $800, i'm at $500, that goal ends 12/31/11
New car down payment
Pool dues (due each may)
Christmas
Vacation
Personal Property Tax payment.

[kimandkathess]

I suppose if I needed to I could tranfer to checking then to the savings account online, I will have to do more research on how long transfers take.

I am checking into smartypig. I like the fact you can set goals. That is really neat!

[justmama]

When you first set it up they take a couple of days. But what i like is you set a goal amount, set a date to complete the goal, then you decide if you want to add money yourself (like when i get rebate $) or if you want it to draft. If you select draft you can either pick the amount or it will figure out how much you need to meet the goal by the date. At any time you can modify the goal(s) or cancel them. If you close a goal it takes 4 days to get the money. I like that you can purchase GC's like get 14% more when you buy Old Navy w/ your smarty pig account.

They also have cute little icons that let you know what % you are towards your goal. Plus the interest, its not much but more than i get w/ my bank.

[amylynne01]

Can you do transfers from paypal to your own bank? I transfer my pp money from pp to my savings acct at my credit union online. I personally prefer to do business at as few banks as possible, so I try to keep my accounts at one place.

With a money market account, you can't lose money. It's like a savings account except typically with higher return rates in exchange for a minimum balance. So while it may not be best for you what you're looking for in this post, it might be worth considering as an account to keep your house fund. Granted my money market is making about 1% right now, but that's better than the 0.1% my savings gets!

[kimandkathess]

I am really liking the smarty pig. Especially since you can get a cash card to link to your account and load it up and then get 10% on your purchases.

It would be nice to save for Christmas and then put the saings back in and being able to set more then one goal is super nice too!

[rbunnymom]

I just started researching smartypig so I am in no way an expert. There are some mixed reviews - I would be curious to know more if anyone has any info.