PayPal’s savings account features a 4.30% APY — much higher than the national average savings rate — plus convenient savings tools and no monthly fees. Jared Macarin is an editorial veteran ...

Here’s what per-transaction processing rates look like: 2.99% plus 49 cents for debit and credit card payments. 3.49% plus 49 cents for PayPal Payments (e.g., PayPal, Pay Later, Venmo).

Pal’s point resonates with the current economic climate. The post-pandemic period has brought significant uncertainty, with inflation rising and the Fed raising rates to combat it.