1. Are Online Savings Accounts Safe
2. Most Secure Banks In America
3. Large Bank Safes For Sale
4. Bank Safety Deposit Box
5. Bank Safe Door
6. Bank Safe For Sale
7. Safecu Credit Union

A bank vault is a secure space where money, valuables, records, and documents are stored. It is intended to protect their contents from theft, unauthorized use, fire, natural disasters, and other threats, much like a safe. The FBI Rocky Mountain Safe Streets Task Force and multiple Denver metro area law enforcement agencies need the public’s help identifying and locating individuals involved in several bank.

Ally Bank offers good interest rates and no account minimums. But is this popular online bank good for you? Learn the benefits (and drawbacks) here.

Overall Score	4.4
Savings	4.0
Checking	4.0
Money Market	4.0
Customer Service	5.0
Mobile App	5.0

Pros and Cons

• CD options
• No account minimums
• Good customer service

• Low Checking APY for lower balance customers

Bottom Line

Solid online bank with a great user-friendly website and customer service

Ally Bank is a full-service online bank with very competitive rates. Their banking products have no minimum balance requirements or service fees.

Ally was previously known as GMAC (the finance sector for General Motors). In 2010, it was rebranded as Ally Bank, an online bank built on a principle of providing better rates and service to customers.

So does Ally Bank deliver its promises? Read on for a detailed review.

Deposit Rates

Ally Bank offers competitive interest rates when compared to other online banks -- and higher rates than most brick and mortar ones.

Keep reading to check out Ally's wide range of banking services that satisfy basic checking and savings needs:

• Savings
  
• Checking
  
• Money Market
  
• CD Rates
  

Is Ally Bank legit? Yes, Ally Bank is FDIC insured and safe. Though it doesn't have physical locations like traditional banks, Ally follows the same rules and legal regulations.

The FDIC insures your savings, checking, and CD accounts up to $250,000 (per depositor), just like the 'old-fashioned banks.'

Online Savings

Ally Bank offers a very competitive APY for their savings account. It has no minimum deposit and no service fees.

You can open as many savings accounts as you want. This is great if you are saving for multiple goals.

For example, you can have one account as the emergency fund, one for a future vacation, one for a house down payment, etc.

Online Savings Account - 0.50% APY

$0 minimum opening deposit. No minimum balance requirement. No fees to open or maintain account.

Keep in mind: In accordance with federal law, you can only make 6 withdrawals a month. If you exceed that, you'll be charged a fee of $10 per transfer.

If you need more access to your money, the Money Market account gives you unlimited ATM withdrawals.

The Savings Account is also available as an IRA with the same great interest rate. It's available for Roth, Traditional, or SEP IRAs.

Compare Savings Account Promotion

Online Savings Account - Earn 0.40% APY

• No fees
• No minimum opening deposit
• No minimum balance required

Are Online Savings Accounts Safe

Interest Checking

Ally's checking account offers two interest tiers based on your balance. The rate is low, but it's still a nice perk compared to traditional checking accounts without any interest.

You can use any Allpoint® ATMs without fees. There are over 55,000 Allpoint® ATMs worldwide, so you're never far from cash.

In the US, Allpoint® ATMs can be found in popular stores like Target, Costco, Speedway, Walgreens, CVS, and Safeway. And if you do go out of network, Ally will reimburse ATM fees up to $10 per statement cycle.

Interest Checking

• 0.10% APY for daily balances less than $15,000
• 0.25% APY for daily balance over $15,000
• Be reimbursed $10/month for ATMs outside of Ally Network
• $0 Minimum Opening Deposit
• No Fees to Open or Maintain Account
• FDIC insured
• Daily Compounding Interest

With Ally's checking account, you can also:

• Get free debit MasterCard, standard checks, and postage-paid deposit envelopes.
• Set up direct deposits.
• Deposit checks from anywhere with Ally eCheck Deposit by snapping a photo.
• Make one-time or recurring payments with free online bill pay.
• Send or receive money to/from any U.S. bank account with Zelle, using just an U.S. email address or U.S. mobile number.
• Transfer money between Ally account or to/from other banks.
• Get account information and make transfers using Amazon Alexa.
• Make secure payments using Apple Pay, Google Pay, Samsung Pay, Masterpass, or Microsoft Wallet.

Money Market

The Money Market account is a combination of a checking and savings account that allows easier access to your money.

You'll get a debit card and free checks. The APY isn't as high as the Savings account, but you do get more flexibility in how you can use and access your money.

Did you know: Ally's home loan services include mortgage loans and refinancing. You can choose between a fixed rate between 10 to 30 years or adjustable rate, which will fluctuate based on current market rates.

Ally has a Price Match Guarantee if you find better pricing at another lender. That rate must be the same loan term and be dated within the past 5 business days.

CDs

Ally has 3 different CD options with no minimum deposit.

• High Yield CD: Choose from terms of 3 months to 5 years. The APY differs based on your opening deposit amount.

  Ally offers excellent rates for short term CDs. Even for a 6-month CD, you can get higher rates than with the Savings account.

• Raise Your Rate CD: Choose between a 2-year or 4-year term. Usually, you're locked into your rate for the entire term of the CD.

  But Ally's Raise your Rate CD gives you a chance to increase it if rates go up during the term. You can boost your rate once over the 2-year term or twice over the 4-year term.

• No Penalty CD: This CD has a fixed term of 11 months. It allows you to withdraw your full balance and interest any time without penalty (after the first 6 days of account funding). This option gives you the flexibility to remove your money if you suddenly need it.

Term CDs

• Up to 0.85% APY
• $0 Minimum Opening Deposit
• Up to 5 years
• No monthly maintenance fee
• FDIC insured
• Daily Compounding Interest

Raise Your Rate CDs

• 0.60% APY
• 2 or 4-Year Terms
• Opportunity to increase your rate once over the 2-year term or twice over the 4-year term
• $0 Minimum Opening Deposit
• No monthly maintenance fee
• FDIC insured
• Daily Compounding Interest

No Penalty CD

• Withdraw Full Balance and Interest After 6 Days of CD Funding Date Without Penalty
• 0.50% APY
• 11 Months
• No monthly maintenance fee
• FDIC insured
• Daily Compounding Interest

IRAs

You can also choose from 3 IRAs:

• IRA High-Yield CD (3 months to 5 years)
  
• IRA Raise Your Rate CD (2 or 4 years)
  
• IRA Online Savings

IRA accounts may offer tax benefits. You can choose between a Traditional, Roth, and SEP IRA.

The returns are lower than what you could get with a brokerage IRA account. This works best for those who want stability (for example, older people who don't want to risk their investments).

Reasons We Like Ally Bank

Online Savings Account - 0.50% APY

$0 minimum opening deposit. No minimum balance requirement. No fees to open or maintain account.

• No minimum deposit and no maintenance fee. Many banks require a minimum deposit to open an account. And then you have to maintain a certain balance or you'll be charged a monthly fee. But Ally Bank has no fees or minimums for their banking accounts.

  You can open an account with as little as you want and start earning interest right away. If you open a savings account with no deposit, you must fund it within 30 days of account opening.

• Customer service support by phone and live chat. Completely web-based banking may make some people nervous because you lose the personal touch. But rest assured that Ally has a real human person who can help you.
  Ally Bank phone numbers:

  • Within the U.S.: 1-877-247-2559
    
  • Outside the U.S.: +1 757-247-2559
    
  • Hearing impaired: 1-877-320-2559
• Deposit checks by phone. Got a check deposit? It's easy to move it straight into your Ally savings account. Just take a picture on your phone and send it through the mobile app.
• User friendly web interface. Ally consistently earns high user ratings for its easy-to-use website. They are also completely transparent on their rates, so you won't be blindsided.
• Bank on the go. Ally's mobile app has high ratings as well. You can make check deposits, transfer money, pay bills, search recent transactions, view statements, find nearby ATMs, set debit card controls, and more all on the go. The mobile app is completely free to use.

  You can download the mobile app for Android and iOS.

• You want a one-stop shop for all your financial needs. Ally acquired TradeKing in 2016 and recently launched Ally Invest. Ally Invest charges some of the lowest fees among online brokerages.

  It offers a wide variety of products including ETFs, mutual funds, options, futures, and Forex. Their extensive research and tools rival even the largest brokerages.

  The platform is free to anyone who opens an account. It's best for somewhat experienced traders who don't need a lot of guidance.

• FDIC insured. Security is an extremely important factor when you're talking about storing your hard-earned money. Ally Bank is FDIC insured.

  That means if the bank defaults, the government will pay you every cent you had in the account (up to the FDIC maximum of $250,000).

Already Have an Account? You can login directly from Ally's main page. For banking and Ally Invest, it is all the same login. You will be able to see both your bank and investment accounts.

For Ally credit card login, you'll need to select 'credit card login', and you'll be redirected to login at Credit Card Servicing.

Reasons to Look Elsewhere

Here are some reasons why Ally Bank may not be right for you:

• No physical locations. Even though Ally offers live help, some people may still prefer in-person bank transactions. All transactions must take place online, via ATM, wire transfer, or by phone.
  Search here to find an Ally ATM near you. There are over 43,000 Allpoint® fee-free ATMs in the U.S.
  
• Checking Fees: If you want to use Ally for checking as well, the fees do seem to be rising lately.

  It used to be that Ally offered unlimited ATM reimbursement (for the checking account), but now it's $10 a month. The overdraft fee is $25.

• No ATM card for savings account. This may be a downside for some. The savings account doesn't come with an ATM card, so you can't make quick withdrawals at ATM machines.

  Instead, if you need some funds, you'd have to do an online transfer (or by wire, telephone, or check), which may take a few days.

Is Ally Bank Right For You?

Ally Bank is an online-only bank. Is it right for you? Here are the pros and cons.

Pros:

Most Secure Banks In America

• Lower fees. Because it's online-only, it doesn't have the physical overhead costs like traditional banks. Ally can pass those savings right to customers. There are no service fees on any of Ally's deposit accounts.
• Easy to open accounts. It's super easy and fast to open an account from the comfort of your home. You don't need to sit down with a banker and fill out tons of paperwork.
• Convenience. It's easy to do all your banking online. You don't have to worry about getting to a bank during banking hours. You can bank from anywhere, including depositing checks by phone.

Cons:

• No in-person service. You may uncomfortable knowing you can't just walk into a branch and get help from a real person. You can only get customer service help by phone, which often means long wait times.
• Large deposits or withdrawals. If you need to deposit or withdraw a large amount, you may feel safer doing so at a physical branch. For example, if you need a few crisp $100 bills for a trip abroad, you can't just get that from an ATM.
• No bank relationship. Often times, loyal customers can get extra perks at physical branches where they have a good relationship with the bank manager.

  For example, you can get a better loan term or get a fee removed. You won't get that from an online bank.

Ally Bank Address: Ally is an online bank, which means there are no physical branches to handle your business.

Ally is headquartered at 500 Woodward Ave, Detroit, Michigan, and 200 West Civic Center Dr, Sandy, Utah. It has corporate offices in several other cities across America. You can reach Ally customer service by phone and live chat.

If you need cash, you can withdraw cash surcharge-free at any of the 43,000+ Allpoint® ATMs. In the US, Allpoint® ATMs can be found in popular stores like Target, Costco, Speedway, Safeway, and drugstores.

How It Compares

Picking a place to park your money deserves some thought. You should compare a couple different options. Let's take a look at how Ally measures up to other online savings accounts.

Best Bank Promotions:

Large Bank Safes For Sale

• Chase coupon for National Bank
  
• Discover Bank offer code
  
• CIT Bank promo code (our review)

Ally Bank vs Capital One 360:
Capital One 360's savings rates aren't as high, but their 1-year CD rate is better. It's also has the same rate for all balance tiers, so smaller investors will see more returns.

Another plus: Capital One 360's Interest Checking account has overdraft options in cases of accidental withdrawal.

Ally Bank	Capital One
SPECIAL OFFER Online Savings Account - 0.50% APY - Learn More	SPECIAL OFFER 360 Checking Account - Learn More
Benefits and Features
Savings	0.50% APY	0.40% APY
CD	0.20% to 0.85% APY. Terms of 3 months to 5 years. 12-month CD APY of 0.60%	0.20% to 0.40% APY. Terms of 6 months to 5 years. 12-month CD APY of 0.20%
Checking	0.10% APY under $15,000; 0.25% APY $15,000 or more	0.10% APY
Customer Service	24/7	Mon-Sun: 8am - 11pm (ET)
ATMs	Over 43,000 no-fee Allpoint ATMs	Over 40,000 no-fee Capital One & Allpoint ATMs
Locations	Online Only	Online Only
Ally Bank: Pricing information from published website as of 2/25/2021. Capital One: Pricing information from published website as of 3/05/2021.

If you want a savings account with an ATM card:

High Yield Savings - 0.50% APY

$0 minimum opening deposit. No minimum balance requirement. No fees to open or maintain account.

Synchrony (which used to be part of General Electric) also doesn't require a minimum deposit or a minimum balance. And there's no monthly service fee either.

The biggest plus is that Synchrony comes with an ATM card. You can withdraw money quickly (up to 6 per statement cycle) instead of having to wait a few days for the transfer to be completed.

On the downside, Synchrony doesn't offer real human customer service 24/7. If you need help in the middle of the night or on a Sunday, you may be out of luck.

If you have $5,000 to save:

Plus Savings Account

• 0.55% APY
• $5,000 Minimum Opening Deposit
• $4 monthly service fee; waived with a daily minimum balance of $500
• Daily Compounding Interest
• FDIC Insured

The Popular Direct Savings Account offers one of the highest interest rates. However, the minimum deposit is a whopping $5,000.

And you must maintain a $500 balance in the account or else you'll be charged a monthly fee. If you close the account within 180 days, there's an early closing fee of $25.

This option is better for those who have more to save and don't need to move money around too often.

You might also consider:

CIT Savings Builder - Earn 0.40% APY

Earn up to 0.40% APY. Here's how it works: Maintain a minimum balance of $25k OR make at least a $100 minimum deposit every month. Member FDIC

Citi Account Packages - Up to $1,500 Bonus

Open a new eligible checking account and savings account in the same account package for Citigold, Citi Priority, and Citi Account Package. Within 30 days of account opening, fund your new checking and/or savings account with the required minimum deposit. Maintain the required minimum balance in the account/s for 60 consecutive calendar days to earn corresponding cash bonus.

Account Package	Minimum Deposit and Minimum Balance	Cash Bonus
Citigold Package	$200,000	$1,500
Citi Priority Account Package	$50,000	$700
Citibank Account Package	$15,000	$300

Citi Savings Account - Up to $3,000 Bonus

Open a new eligible Citi Savings account. If you open a Citi Priority Account Package, Citigold Account Package or Citigold Private Client, you must have or open a checking account in the same package. Client must enroll in this offer at the same time they open the eligible Citi Savings account. You may enroll online or by contacting a Citibank representative by phone or in a branch and asking them to enroll you in this offer. Deposit qualifying new-to-Citibank funds within 30 days of opening savings account. Multiple deposits allowed. Maintain the qualifying balance in the account for 60 consecutive days from the date the minimum deposit is reached to receive corresponding cash bonus. Offer available in NY, CT, MD, VA, DC, CA, NV, NJ, or select markets in FL or IL.

Minimum Deposit and Minimum Balance	Cash Bonus
$25,000 - $49,999	$75
$50,000 - $99,999	$150
$100,000 - $249,999	$300
$250,000 - $499,999	$750
$500,000 - $999,999	$1,500
$1,000,000+	$3,000

Ally Auto Loan: Ally offers vehicle financing through dealerships. This means you have to go to a dealership that offers Ally financing--you can't contact Ally directly to get loan rates and preapproval. The dealership will determine your rate depending on your credit.

If you go with Ally, you can choose between buying and leasing. If you're not sure, the Buyer's Choice option allows you to decide at the 4th year mark if you want to keep the car or sell it back to Ally. The last option is to pay smaller monthly payments with one larger payment at the end.

Frequently Asked Questions

• Is Ally a safe bank?
  Yes. Ally is FDIC insured for up to $250,000 per account. This means if Ally Bank defaults, the federal government guarantees the balance in your deposit accounts, up to $250,000 per account.
• Are online banks safe to use in general?
  If the bank is FDIC insured, you can be confident that your money is safe. Online banks still must follow the same rules and regulations as brick-and-mortar banks. They just don't have physical locations.

  As far as conducting banking business online, that is generally safe, too. Banks use layers of security to protect your information.

  Ally has anti-virus protection, firewalls, and encryption, as well as a 2-step authentication procedure to protect its customers.

  Miguel A. Suro, a personal finance blogger for The Rich Miser, is devoted to Ally Bank and says he 'never plans to return to a brick-and-mortar bank.' He offers these as the pros and cons of Ally Bank:

  The main benefits:

  • ATM fee reimbursements
    
  • Free checks
    
  • High interest rates
    
  • After-hours customer service by phone

  The main drawbacks:

  • Inability to deposit cash
    
  • No personal relationship with a banker
    
  • Can't walk to a branch if you need same-day service
• Are CDs worth it?
  CDs are a secure vehicle to park your money and grow some interest. You are guaranteed interest. When you sign up, you know exactly how much interest you will earn on your deposit.

  It will not change for the entire term. If you are sure you won't need the money for a specific amount of time, then CDs are great to grow your money a little safely.

• Is Ally Bank only online?
  Ally is an online bank only, so there are no physical branches. It has a couple of headquarters offices in Detroit, Michigan and Sandy, Utah. There are also several other corporate offices across the U.S.
• Is Ally Bank American owned?
  Yes. Ally Bank was originally known as GMAC (the finance sector for General Motors). In 2010, it was rebranded as Ally Bank. It is headquartered in Detroit, MI and Sandy, UT.

Bottom Line

Ally Bank is one of the most reputable online banks in the industry.

We love that Ally has no minimum deposit, no account minimum, and no maintenance fees. It's also great that the bank offers so many options, allowing you more flexibility.

The interest rates are pretty solid for today's standards. And you may feel at ease knowing you can reach a real person at any hour of any day.

There's no real downside to opening an Ally Bank account, since there are no maintenance fees.

Write to Anna G at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

Read Next:

Best Online Savings Account

How to Build Wealth in Your 20s

How to Invest Money

When it comes to buying and selling online, you should always be wary of fraud and questionable transactions. Certain platforms are more secure than others, but how does the king of online payments stack up? Is PayPal safe to use for buying and selling online?

Read also:What is PayPal? How do you use it?

Although it’s had trouble with fraud throughout its nearly two-decade history, PayPal is largely safe to use for normal transactions. That said, there are certain things you should know about PayPal’s security, and a few extra steps you can take to make sure your money and account remain safe.

Bank Safety Deposit Box

Editor’s note: The information and tips in this article are primarily based on US PayPal accounts, but should hold true for accounts in other countries around the world.

Is PayPal safe and secure?

The simple answer is yes, PayPal is safe, but within limits. Whether you’re sending money to friends or buying and selling products online, PayPal has a number of industry-standard security features and a bug bounty program to weed out vulnerabilities before it’s too late. PayPal also stores your data on encrypted servers, so the main risk to your account is from phishing and fraud rather than hacks and data breaches.

Read also:Common phone scams you should be aware of

Bank Safe Door

While PayPal is generally safe, you still should not treat it as a replacement for a bank account. In the US, funds are not FDIC-insured, meaning that if PayPal goes out of business, your money goes with it. This shouldn’t be a major concern for normal users, but if you are worried, you should keep your PayPal balance low by transferring funds regularly to a normal bank account.

Additionally, although PayPal offers similar services to a credit card company or bank, the level of customer service does not match up. It can take weeks or months to recover lost funds in some cases. Also, PayPal isn’t necessarily under the same legal obligation as banks and other financial service companies.

With that out of the way, answering the question of exactly how safe PayPal is depends on what you’re using it for. Part of that is due to PayPal’s focus on buyer protection, and part of it is due to the nature of online payments.

How safe is PayPal for money transfers?

For simple money transfers to friends, PayPal is one of the safest platforms out there. In fact, it may actually be safer than normal bank transfers. As long as you don’t make a mistake when entering the amount or email address, you can be absolutely positive that the recipient won’t be able to see your bank account details.

Read also: How to cancel a PayPal payment (before it’s too late)

Obviously there are some other security concerns that aren’t unique to PayPal. For example, using public Wi-Fi connections for financial transactions is never a good idea, as they may be vulnerable to interception. Another concern is scams, which attempt to trick you into sending money to an unknown account or click a link to gain access to your account.

As long as you’re wary of these things and use a bit of common sense, PayPal’s built-in security won’t let you down.

How safe is PayPal for buyers?

When it comes to using PayPal to buy goods and services, it’s one of the safest platforms out there. PayPal’s buyer protection program covers situations where a product is never received or isn’t as described, as well as fraudulent charges that were not authorized by the account holder.

These policies make PayPal’s buyer security similar to a credit card. However, there are a few limitations to what can be reimbursed in many countries. For example, purchases of cars, large machinery, and custom-made items are often exempt. You should review the full policy for your country, but the main takeaway is that PayPal isn’t ideal for very large purchases.

Even so, PayPal is a safer way to send money than Western Union or direct wire transfers. Potential scammers can’t glean any financial information from a PayPal transfer, making it a great choice for buyers looking for an extra level of privacy and security.

How safe is PayPal for sellers?

For those looking to use PayPal to sell goods and services, the story is more complicated. PayPal clearly favors buyers in online transactions, and this naturally comes at the expense of sellers.

PayPal does have a seller protection policy, but it’s significantly more restrictive than its buyer counterpart. While legitimate business owners who are willing to work with customers are unlikely to encounter significant problems, there are some situations where sellers may feel less than protected.

Read also:10 best money making apps for Android!

Sellers looking to use PayPal should only ship to verified addresses and require proof of delivery. This will prevent any fraudulent claims that goods were not delivered. Keeping a running record of communication and agreements with a customer will also keep PayPal on your side in any potential disputes.

When PayPal does receive an eligible complaint from a buyer, the funds in question may become locked and unavailable in the seller’s account. This doesn’t mean it’s immediately returned to the buyer, however, and if the dispute is decided in the seller’s favor, the funds once again become available.

PayPal security: Tips to secure your account

Keeping on top of your PayPal account security should be a concern for both buyers and sellers, so we’ve put together a shortlist of tips to keep your money safe. Bear in mind that there is no way to eliminate the risk of data breaches for even the most diligent of users, but you should still try to mitigate that risk as much as possible.

Enable two-factor authentication

One of the easiest ways to keep your PayPal account safe is to enable two-factor authentication. It’s disabled by default, but PayPal’s system is compatible with a variety of 2FA apps, including Google Authenticator, Authy, and others.

To turn it on, log into your account and navigate to the Settings page. Switch to the Security tab, then click 2-step verification. Follow the on-screen steps to set up a 2FA app or mobile number. Two-factor authentication can be a pain when logging in frequently, but it goes a long way toward securing your PayPal account.

Use credit cards instead of debit cards or bank accounts

Attaching a bank account or debit card is one of the easiest ways to add money to your PayPal account, but you should avoid it if possible. Attaching a credit card achieves the same result, but provides an extra level of security.

Most importantly, it eliminates the possibility of bad actors using PayPal’s auto-withdrawal feature to drain the money from your account. Plus, fraudulent charges can be disputed with the credit card company in addition to PayPal itself, providing an extra layer of fraud protection that you wouldn’t get with a bank account or debit card.

Keep your device and software up-to-date

Whether you’re using a mobile device or a computer, make sure the device and software you’re using to access PayPal are up-to-date. Updates nearly always contain fixes for security holes that could leave your account vulnerable.

If you want to take your PayPal security even further, you can also use a dedicated device for PayPal transactions. Don’t use this device for anything else (no web surfing, no social media, no apps, etc.) and it should offer nearly bulletproof protection for your account.

Don’t use PayPal on public Wi-Fi

Bank Safe For Sale

One of the few situations where PayPal isn’t safe, even with a dedicated device, is while connected to public Wi-Fi connections. Even if you’re just checking your account balance and not transferring money, it may be possible for outsiders to decipher your password and gain access to your account.

Safecu Credit Union

If you absolutely must check your balance while away from home, turn off Wi-Fi and use mobile data instead.

Only deal with verified buyers/sellers

Both buyers and sellers should be wary of unverified accounts, as they may be more prone to fraudulent charges and scams. Just about anyone can create a PayPal account in a few minutes, but verifying their identity and address opens them up to all kinds of legal troubles.

In the United States, verifying your account means linking an address (with a bank statement or utility/credit card bill) and Social Security number.

Be wary of email links and shipping labels

Two of the most common PayPal scams rely on unsuspecting users forgoing due diligence in email communications. Whenever you receive an email claiming to be from PayPal, be sure to double-check that it truly comes from PayPal, and use your browser or phone to navigate directly to your account instead of clicking on links contained in the email itself.

Another common PayPal email scam targeting sellers involves sending a fake shipping label via email. The buyer can then claim that they never received the item and request a refund. To avoid this, sellers should always ship directly through reputable postal services to verified addresses, and always get an online tracking number and proof of delivery. For high-value items, you might also want to consider requiring a signature upon delivery.

Monitor your account

Our final tip to keep your PayPal account safe is one that even the most casual of users needs to keep in mind. No matter how much money you have in your PayPal account, you should regularly check it and make sure there aren’t any unexpected transactions.

The reason for this is that bad actors will frequently make a few small purchases to test out a newly acquired account. If they’re successful, they’ll move on to large purchases that quickly drain your bank account or put you in debt. Disputing these claims might get you your money back, but it will cost you countless hours, headaches, and stress. It’s best to nip it in the bud before things get out of hand.

Check out some of our other PayPal guides: