Do Not Put Your Bank Details Into PayPal

There are fundamental problems with PayPal. I have just experienced the most dreadful haunting problem with PayPal. I know there are probably others out there that have also had similar experiences: but I will be specific.
 
DO NOT PUT YOUR BANK DETAILS INTO PAYPAL.
 
Firstly PayPal persuade you to put them in so your payments are instant and secure. Rubbish. Put your credit card details in and the payment is just as fast and secure.
 
DO NOT PUT YOUR BANK DETAILS INTO PAYPAL.
 
Secondly PayPal suggest that you can change your funding sources 'Pay List' in your account options. You can supposedly deselect your Bank Account option so that is not used as a funding source. Rubbish. When it comes to payment for goods, they still use your Bank Details as a default payment method. Always check when making a payment, where you have no remaining PayPal balance, that the credit card is used to fund the remainder.
 
DO NOT PUT YOUR BANK DETAILS INTO PAYPAL.
 
Thirdly, if a fraudalent transaction appears as it did for me 8 days ago, from all people 'Kasperskylab' (Virus Checking Software) totalling some $1000, PayPal will try to take the money from your Bank Account! Because you cannot exclude the bank account from the funding source it is still the default. So when a fraudalent transaction occurs it will come straight out of a business account that will charge for transactions and overdrafts. PayPal dispute process takes at least 7 days to resolve and by that time you have run up charges in your business bank account.
 
DO NOT PUT YOUR BANK DETAILS INTO PAYPAL.
 
When I try to delete my bank account, PayPal indicate that there are still pending transactions on the account so it cannot be deleted until 7-9 days after those transactions have cleared. So can they tell what pending transactions are on the account? No. Can they tell you when those pending transactions are supposed to clear? No.

DO NOT PUT YOUR BANK DETAILS INTO PAYPAL.
 
Credit card companies are very good at making sure that merchants pay up if there are any fraudalent transactions. PayPal is just a glorified merchant. So PayPal really doesnt want to deal with credit card companies. Credit card companies also charge them for using credit card transactions, banks do not. PayPal charge the retailer for accepting payment, whether it is from bank or credit card. So all the profit for PayPal comes from charges levied because their bank fees are non-existent.
 
DO NOT PUT YOUR BANK DETAILS INTO PAYPAL.
 
PayPal want to hold onto your banking details. They don't want to let them go. Don't give them a chance to take your money for no reason.
 
Fraudalent use of the PayPal accounts does happen. I experienced it and the consequences are not pretty.
 
Just think very carefully what you get yourself into before handing over the banking details.