I am presently at my 11th PayPal transaction. I have not had one bad experience. I will make a couple of suggestions to you folks regarding usage. I set up a statement savings account with my local bank. I had an ATM/Visa attached to the account. When I need to make a payment using PayPal, I transfer money from my statement checking to my statement savings (by phone).
I transfer just enough money to complete the transaction. I then use the ATM card to make the payment. The checking and savings have absolutely no connection to one another by online methods. I must make transfers by phone.
When receiving a payment, I have the payment made to the ATM/ savings account #. As soon as payment arrives, I then immediately transfer (by phone) the money into my statement checking, leaving no balance in the savings account. If someone happens to get through the PayPal "level" of security, they now have to get through the bank "level", at which point, there is no money in the account anyway.
Up to this point, I have had no problems. An ounce of prevention....
I transfer just enough money to complete the transaction. I then use the ATM card to make the payment. The checking and savings have absolutely no connection to one another by online methods. I must make transfers by phone.
When receiving a payment, I have the payment made to the ATM/ savings account #. As soon as payment arrives, I then immediately transfer (by phone) the money into my statement checking, leaving no balance in the savings account. If someone happens to get through the PayPal "level" of security, they now have to get through the bank "level", at which point, there is no money in the account anyway.
Up to this point, I have had no problems. An ounce of prevention....