>Is Paypal safe?
For the buyer it is relatively safe. If you have antivirus, anti malware and don't log into paypal from links in emails etc. you should be safe.
For the seller it can be a horrendous experience. Everything from false chargebacks, false disputes and paypal locking you out of your account etc.
If you are a seller, make sure you READ and UNDERSTAND the terms of service, and be sure to think about the consequences of that TOS.
Do not EVER allow paypal to withdraw from any of your accounts.
Do not ever agree to not being able to dispute a chargeback or withdrawal.
DON'T use your paypal account to hold money in it. ALWAYS withdraw the money in your paypal account immediately when you get them and deposit the right amount you need to pay before paying using paypal.
As for paypal being a bank, yes they purchased a banking license from lichtenstein, which anyone in this forum could do with a few thousand pounds. Don't for a second think that paypal is now a bank, they are still being watched by several countries for unlicensed banking, and paypal would be hard pressed to get a banking license anywhere but Liechtenstein or perhaps panama.
For the buyer it is relatively safe. If you have antivirus, anti malware and don't log into paypal from links in emails etc. you should be safe.
For the seller it can be a horrendous experience. Everything from false chargebacks, false disputes and paypal locking you out of your account etc.
If you are a seller, make sure you READ and UNDERSTAND the terms of service, and be sure to think about the consequences of that TOS.
Do not EVER allow paypal to withdraw from any of your accounts.
Do not ever agree to not being able to dispute a chargeback or withdrawal.
DON'T use your paypal account to hold money in it. ALWAYS withdraw the money in your paypal account immediately when you get them and deposit the right amount you need to pay before paying using paypal.
As for paypal being a bank, yes they purchased a banking license from lichtenstein, which anyone in this forum could do with a few thousand pounds. Don't for a second think that paypal is now a bank, they are still being watched by several countries for unlicensed banking, and paypal would be hard pressed to get a banking license anywhere but Liechtenstein or perhaps panama.