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A few years ago, I set up a separate checking account just for paypal transactions. Bank was offering free checking for 120 years (really!). Only thing it cost me was $4 for a box of checks.
When I get a payment for something (auction, center caps, etc), I just move the $$ from my paypal account and into this checking account. Then I move the $$ again, so paypal can't reach into the account and take funds (never happened to me). A little more work, but it keeps our joint checking account FAR away from paypal.
And my paypal account is a PERSONAL account, so I can't/won't accept payments made with a credit card. Avoids the additional fees that paypal charges for accepting credit card payments. I specify to the buyers that payments have to be bank transfers or echecks only - no credit card payments. When I sell on ebay, I don't list paypal as a payment option, since they don't allow you to specify how payment is to be made, but I contact buyers after the auction and make it available to them if they so choose.
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