Originally posted by: RossMAN
First of all I would recommend reading
Paypalsucks.com
Please remember that Paypal is NOT a bank and it is
NOT FDIC insured. So if they were to go out of business, you would probably lose everything.
Personally I keep $50 or less in my Paypal account. When I was more active
selling on eBay, I would have $5,000 - $10,000 in my account.
I asked my credit union to open a new checking account which I use solely for Paypal transactions. The credit union had no problems doing this and it only took 30 seconds over the phone.