Providing you ignore those “phishing” emails which pretend to come from PayPal (they try to get your personal banking details), the firm has a good security record.
The difficulty is where something goes wrong, possibly with the goods you buy. PayPal is not a credit card so you have no protection under the Consumer Credit Act.
It is not regulated, so you can’t complain to the Financial Ombudsman Service. And its 45-day complaint period – after which it generally refuses to deal with consumers – has no basis in law other than PayPal’s own terms and conditions. This can be very short – especially if dealing with an overseas seller.
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