[trularin]

May I suggest:

Take out a credit card for $300.00.
Use the card to set up the PayPal account.
Dump the card after the account is in use.

If you use a Credit Card out of your wallet and it is one you use all the time, PayPal has unlimited access to this account in your name. This is not a good idea. There have been plenty of people who have been burned by PayPal and they do not have to answer to any bank regulatory commission.

If you have to have a PayPal account, run it off a card with a limit you can handle as if it was stolen money.

Just my $0.02 PayPal sucks big time.