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Is PayPal worth it?

I've been wondering is PayPal worth using?  Becasue I've heard many bad stories and rumors form many sources that it's not the best trustworthy location for an online banking.  I'd like to hear some good and bad opinions/view points about it before I start using it again.
When PayPal was new, I set up an account for an E-bay auction that I won, and after that I closed it out immediately becasue of the dangers of online banking with check cards and a checking account online.  I worry that along the way I may be one of those unluky individuals and find out that the some how the system got hacked/ your information gets out  your entier savings account for that one bank is screwed.  I'd like some clourser to settle some uneasy feelings before I begin using PayPal again.  Thx.
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sazukaChan
Asked:
sazukaChan
4 Solutions
 
WileECoyote45305Commented:
I don't use PayPal for online banking, but I have used it previously to pay for a couple of site memberships. Nothing negative to report.
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stinkinrich88Commented:
i've used it for a long time to pay for stuff on ebay. never had any trouble. Im pretty sure that paypal cover upto £500 worth of fraud so here's some advice: create a new account with your bank that you will use ONLY for online payments/banking, when ever the funds run too low transfer £500 from your savings account into your internet account and your safe!
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sazukaChanAuthor Commented:
Ah, that's a good idea for setting up an account.  If I decide to use PayPal alot I'll take that idea into consideration.
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lherrouCommented:
I've used PayPal for 6+ years (mostly buying, but occasional eBay sales as well), and they have been solid throughout. I had one dispute with an eBay seller that did not deliver as promised, and they refunded the money to my account. I would recommend them, although stinkinrich88's suggestion is a good one.

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dhsindy SparrowRetired considering supplemental income.Commented:
Two purchases using PayPal - no problems.  Online credit card use is probably safer than regular stores.  Provided you are using a properly configured 128-bit browser and only deal with secure sites.
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sazukaChanAuthor Commented:
That's a good idea for a 128-bit browser, however, I'm not entierly sure how to configrue a browser for those settings.  But the main browser I use is Firefox, and that seems fairly safe for a lot of sites out there.
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sazukaChanAuthor Commented:
Thank you every one, this was good informaiton.  I feel a little more confident in using PayPal agian.
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dhsindy SparrowRetired considering supplemental income.Commented:
128-bit refers to the encription strength of the browser.  Usually if you start your browser, click on the Help tab, the bottom of the pulldown should say About blah-blah - clicking here should display the program version numbers and may also display the cyber strength.  Anyway, if you get the version number you should be able to go to the browser site and find out the cyber strength.  Unless your computer is old like mine you probably already have 128-bit installed.  But, verify it.
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dbou874Commented:
I've been using PayPal for over 5 years with no problems. Seems pretty reliable to me. Never had a single fradulent transaction. I would also recommend this site for calculating PayPal's fees..

http://www.ppcalc.com
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