Is PayPal Safe? (Evaluating Risks and Deleting Your Account)

Is PayPal safe to use?

PayPal ensures safety for both sellers and buyers by securing and encrypting transactions. As long as you access the legitimate PayPal website via a secure connection, your personal information is likely to remain safe during payments.

PayPal security features

PayPal is known for its robust security features, ensuring safe online payments. They use top-notch measures like end-to-end encryption and SSL protocol with 128-bit data encryption.

Here are some common PayPal security features:

• Data encryption: All transactions are secured with 128-bit data encryption using SSL protocol.
• Browser integrity checks: PayPal verifies if your browser meets security standards before allowing account access.
• Security key: Set up two-factor authentication (2FA) for extra protection with a one-time PIN sent to your phone.
• Fraud monitoring: Automatic alerts for suspicious activities on all transactions.
• Dispute resolution: PayPal assists in resolving disputes and conflicts.
• Purchase protection: PayPal’s buyer protection program reimburses qualified purchases, including shipping costs, for cases like damaged items or non-delivery.
• Seller protection: Sellers are safeguarded against false claims and chargebacks with evidence-based support.

Keep in mind, though, that using your PayPal account on public Wi-Fi increases the risk of unauthorized access to your info, despite the platform’s security measures. When on open Wi-Fi at places like airports or restaurants, stay safe by using a VPN for secure browsing — it’ll encrypt your entire data on all networks, including unprotected ones. 

Risks of using PayPal

Although PayPal is generally safe, its vast user base of over 320 million account holders with a large volume of financial and personal information makes them an attractive target for scammers. The Better Business Bureau highlights that scammers often exploit PayPal to defraud customers of their money.

Common PayPal security issues include phishing and identity fraud — the latter affected 42 million people in 2021, with total losses equalling $52 billion. Most often scammers carry out such an attack through PayPal email scams. Those involve fake emails or links to fraudulent PayPal sites, where users are asked to provide personal payment details. Scammers use social engineering techniques to convince users to click on these fake links and share sensitive information or send money. 

Common PayPal email scams

Most often scammers create a sense of urgency to prompt you to click into a fake website in panic or call an actual scammer — all to solve a fake problem. Common scenarios of PayPal email scams include:

• “Your account is about to be suspended.” Scammers pose as PayPal support and claim there is a problem with your account that requires immediate action. They may ask you to enter your password on a fake webpage. PayPal only requests passwords on the official login page. For any notifications, log in to PayPal and check the Resolution Center.
• “You’ve received a payment.” Scammers try to deceive you into thinking you’ve received a payment. They aim to get your item for free. PayPal doesn’t ask for a tracking number via email. Always confirm a payment by logging in to PayPal before shipping anything — your PayPal activity will show genuine payments.
• “You’ve been paid too much.” Fraudsters might claim they paid you too much for an item. For instance, they’ll send an email stating they paid $500.00 for a $300.00 camera. They’ll ask you to ship the camera along with the extra $200.00 USD paid “by mistake.” But all they want is both your item and payment, without fulfilling their part.

Other common scams are as follows: 

• Fake payment confirmations. Scammers send emails pretending to be PayPal confirming a payment you didn’t make. They hope you’ll panic and click on a link to cancel the payment, leading to a phishing site.
• Charity scams. Scammers pose as charitable organizations and ask you to donate money through PayPal. They take advantage of your goodwill and steal your money.
• Shipping scams. Similar to the purchase inquiry, scammers pretend to be buyers and ask you to ship an item to a different address, claiming it’s a mistake. They hope to trick you into shipping the item without receiving payment.
• Fake refund emails. Scammers send emails claiming you’re owed a refund and ask for your bank account details to process it. 
• Fake invoices. Scammers send invoices for products or services you didn’t order. They hope you’ll pay without realizing the invoice is fake.
• Canceled invoices. You get an email saying your payment to a specific company didn’t go through. You see a phone number to reach PayPal or can follow a link for more details on the failed transactions — both are fake, of course.

For one Reddit user, the trouble began with seemingly genuine emails claiming to be “PayPal invoices” for unauthorized Bitcoin purchases. Concerned about the unexpected bill, the user contacted the phone number on the invoice. However, things took a turn when the person on the phone requested remote access to the user’s computer, revealing it was a scam. 

The need to stop the invoice took precedence, ignoring common sense, until it was almost too late. That’s why it’s key to learn how to detect a PayPal email scam. 

How to recognize a PayPal email scam

Phishing scams have been around for a long time, and despite PayPal’s security measures, scammers can still obtain login credentials from unsuspecting users. Your strongest defense is to learn how to recognize phishing attempts. 

Here are some tips to verify the authenticity of a PayPal email:

1. Learn the purpose of email. PayPal emails are primarily for payment notifications, receipts, and promotions. All other account communications are handled directly on their website or app.
2. Check for impersonal greetings. Genuine PayPal emails will address you by your name, not with generic greetings like “Dear User.”
3. Check the address. Legitimate PayPal email address are usually [email protected] for account statements and notifications, and [email protected] for receipts.
4. Look for grammar mistakes. PayPal is a large renowned company that won’t send you emails or texts with bad spelling or grammar. If you see these mistakes, it’s a clear sign of a phishing scam. 
5. Check the domain name. PayPal also uses the domain paypal.me for sharing your account and sending money conveniently.
6. Beware of emails with a false sense of urgency. Phishing emails often create panic by urging you to update your account immediately. Instead of clicking on any links, log in directly to PayPal to verify any urgent account needs.
7. Avoid opening unknown attachments. Only open attachments from trusted sources, and be cautious with invoices from unfamiliar companies or contractors, as they may contain viruses.

If you come across a suspicious email or website, forward it to [email protected]. Once you’ve sent the email, make sure to delete it from your inbox.

How to be protected on PayPal

To stay safe from scams on PayPal (or any payment platform), always check the emails and transactions to make sure they’re genuine before sharing personal info, financial details, or sending items to buyers.

Also, follow these tips for added protection:

• Strong passwords. Create strong, unique passwords that are hard for others to guess. Avoid using easily guessable information like your birthdate or “123456.”
• Two-factor authentication (2FA). 2FA adds an extra step to the login process after you enter your password. This helps ensure that only you can access your account, even if someone knows your password.
• Avoid public Wi-Fi. Public Wi-Fi networks can be less secure, so it’s better to avoid them when making financial transactions. If you must use them, consider using a VPN for an added layer of protection.
• PayPal email scam check. Use our checklist above to double-check the authenticity of emails and transactions before sharing any personal or financial information. 
• Use an antivirus software. Install antivirus software on your devices to catch and block viruses and other harmful software that can compromise your data.
• Use a VPN. It’ll encrypt your Internet connection and add a layer of security, especially when using public networks.
• Regular account check. Keep an eye on your PayPal transactions and account settings to catch any unusual activity.
• Update software. Keep your devices and apps up to date. Software updates often include security patches that help protect against vulnerabilities.
• Use credit cards. In case PayPal fails to provide a refund, credit card companies might offer additional protection as they often have better fraud protection.

While PayPal takes steps to keep you safe online, it’s important to take your own measures to stay secure. Using security software like VeePN can provide strong protection against online threats. Here’s why. 

Stay safe online with VeePN = Reliable VPN + Antivirus

Providing both a reliable and easy-to-use VPN and Antivirus solution, VeePN offers extra security of your devices and data. VeePN defends your device from common vulnerabilities that scammers might use to target PayPal users. It boost your online security with the following: 

• Encrypts your data. It makes sure your data is unreadable by third parties.
• Stops malware. It prevents viruses and spyware from harming your device.
• Blocks harmful attachments. It keeps you safe from dangerous email attachments and links.
• Identifies malicious websites. It warns you about websites and links that could be harmful.

VeePN works on all major operating systems and platforms — get it for your device and try the service risk-free!  

How to delete a PayPal account

Finally, if you want to deactivate your PayPal account forever, here’s how. Remember, though, that once you close it, it can’t be retrieved. But you can always create a new PayPal account with a different email address to keep using PayPal for your online payments. 

Do this first before removing a PayPal account

• Withdraw your funds: If there’s any money left, transfer it to another PayPal or bank account, or request a check from customer service.
• Clear balances: Resolve any pending payments or issues in your account before closing. PayPal support can assist you.
• Halt recurring payments: Suspend subscriptions or recurring payments linked to your account.
• Save transaction history: Duplicate your transaction history as it’ll be deleted when you close your account.

How to remove a PayPal account on desktop

Here’s how to permanently delete your personal account:

1. Go to the PayPal website and log in.
2. Click Settings.
3. Look for Account options and click Close your account.
4. Enter your PayPal account if requested.
5. Click Close account.

How to remove a PayPal account on mobile

Follow similar steps on the mobile app to delete your PayPal account. Just find the profile icon on the top left, look for Close your account, and tap Close account. After making a copy of your transaction history and taking care of any outstanding balances, you’re good to go.

FAQ: Is PayPal Safe?

Is PayPal good if you get scammed?

PayPal offers certain protections for users in case of scams or fraudulent transactions. They have mechanisms like the Buyer and Seller Protection programs that can provide refunds.

Is it safer to pay with PayPal or debit card?

Using PayPal can add an extra layer of security when making online purchases. When you pay with PayPal, your financial information isn’t directly shared with the seller. Instead, PayPal processes the payment on your behalf. This can help reduce the risk of your debit card information being exposed to potential scams or data breaches. 

However, it’s advisable to link your PayPal account to a credit card rather than a debit card for added protection.

Is PayPal safe to link bank accounts?

Linking your bank account to PayPal is generally safe, as PayPal uses encryption and security measures to protect your financial information. However, as with any online platform, there’s always a small inherent risk. For tips on how to be protected on PayPal, read this blog post. 

What are the disadvantages of PayPal?

While PayPal offers convenience, it also has some drawbacks. Here are a few:

• Fees: PayPal charges transaction fees, especially for currency conversion and international transactions.
• Limited seller protection: Sellers can sometimes face fraudulent chargebacks, even after delivering goods or services.
• Holds on funds: PayPal may put holds on your funds, especially if you’re a new seller or have high-value transactions.
• Account freezes: PayPal may freeze your account for security reasons, which can be inconvenient.
• Dispute resolution process: The dispute resolution process can be time-consuming and may not always result in a favorable outcome.

Remember, it’s essential to weigh both the advantages and disadvantages of using PayPal based on your specific needs and circumstances.