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Same here, been using pp for as long as its been around. Never a problem, Never had a credit card in my life and never will, its linked to a savings account I keep for the atm access/debit card. my pay goes into mortgage and i transfer spending money to the savings account as i need. so even if someone abuses or hacks its only a small amount thats ever at risk.
downside to paypal is they are the biggest payment gateway and so are the obvious attack target for potential hacks but as someone with extensive online security experience i can say they are well protected and hacking them is not going to be anything what you see on tv which is crap.
also if you ever have to make a claim you will get poor customer service from them and pay for every step and some vendors will tack on nasty charges for paying by paypal. but that depends how dumb a shopper you are really not paypals fault.
also, should never have to be said, but paypal will never ever email you to "confirm" your password due to a problem with your account. Ever. Ever. Understand? If you are ever in doubt just use a computer, google for the paypal website and log in there. if theres problems like a negative balance you'll see it immediately and have options to rectify from there and even contact options if you need, but email is not a communication vector really as paypal spam emails are such a problem, just never click on any email links.
you can run into balance problems of your own making. paypal dont always deduct from your account on the spot, likewise your bank may not process until next business day etc. So its possible to get a negative paypal balance if you over spend, say on a weekend, since your bank balance shows money. When you buy using paypal, its paypal who pay the store and then they get the money from your account. this way the store gets their money fastest and paypal wear the delay of funds tranfsers the banks include. if you get negative balance then further transactions are declined/fail until you deposit to get your paypal balance back to at least zero.
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