Is it safe to keep a Lot of money in your PayPal account?

@beloved (354)
India
December 24, 2006 2:31pm CST
Is it safe to keep a Lot of money in your PayPal account?
5 responses
• United States
24 Dec 06
It is totally safe it is like a bank account, it is pretty secure at that site.
@msqtech (15226)
• United States
3 Jan 07
you can shop from paypal as well
@msqtech (15226)
• United States
3 Jan 07
I think so
• United States
24 Dec 06
In theory its perfectly safe and I think FDIC insured, but you would have to check. However if you use the money market account and gain dividends on your money then it is possible, all be it unlikely, that the price of a share in the money market account goes down and you lose a percentage of your money. Read about it on the PayPal website.
@artguy (1476)
• United States
24 Dec 06
I think it's safe. I use to keep a lot of money there so I could use for a rainy day. Well, I've had lots of rainy days and I don't have as much money in there now as I use to. I always use PayPal as my payment processor for when I sale stuff.
@missjackie (1323)
• Philadelphia, Pennsylvania
24 Dec 06
I wouldn't trust Paypal at all. I've heard stories where Paypal stole your money.