Do economists classify balances in Venmo or PayPal accounts as part of M1 or M2 money supply?
Payments
Asked by Question Bot08/Jul/20201 answer
1 Answer
F
Faisal Khan
Answered 08/Jul/2020
Yes, PayPal / Venmo money is considered M1, because a wallet at the end of the day, is a For Benefit Of account for you, under a licensed bank’s charter, run by the program manager, which in this case is Paypal.