Expert: Russell Smiley - 7/6/2008

Question
Hello,

I’ve been using paypal to buy things from ebay for 5 years now, recently I opened my own account (been using my mother’s) so I can buy and sell things in my own name.

Since I’m going to start selling on ebay, I went ahead and put my bank account on paypal, I was going to put my credit card as well but I read that I can pay for things using my bank account, to me that sounds easier then buying a stamp and mailing out a check to the Credit card company.

I want to know is it safe to buy things using my bank account, what are the pros and con of paying that way and should I still put my credit card on paypal?

Thanks
Angel,

Answer
I would be happy to answer all your questions today. Here are the pro's and cons to using your bank account on Paypal. Two answer your first question, yes, it is safe to put your bank account on Paypal. Paypal uses 128 bit encrytion to protect your account. I had my bank account on Paypal for eight years and never had a problem. If someone does break into your Paypal account, then they can drain your bank account. This is very rare, but could happen because nothing is 100%. I think Paypal gureentees up to 50,000 to 100,000, if your account it stolen. I personally feel safe using my bank account on Paypal because I never had a problem, plus I know alot of people that use Paypal and never had a problem.