I don't think there's a more trustworthy contender nowadays (definitely not facebook). Many of their requirements for new terms and compliance are due to state regulations, especially here in the EU. For me, the fact that they require verification through official documents makes me trust them more, not less.
That's sort of the problem. Paypal is acting more and more like a bank, yet they're investing millions in lobbyists to make sure they don't become a bank, legally. If they were a bank they would be accountable and would fall under all of the rules and regulations that banks must follow, and they wouldn't be abe to withhold funds from their customers so readily.
Part of this that they have to know their customers. They can't allow someone without proper ID verification to collect a few hundred thousands of dollars through simply providing an email account and a name.
Its ok that they require verification through official documents but PayPal is known for locking people out of their accounts even after they have submitted these verification proofs. The Resolution Center is a farce. I have uploaded many different documents, but it keeps showing me the same verification problem. This has gone on for over an year now. PayPal is not important to me and so I can just ignore this problem. I don't even the worst bank here, in India, keeping people out of their accounts in such a way.
