Joker, one of the fundamental differences between a bank and other financial service providers is insured deposits. In the US, the FDIC insures that should a bank go bust, you'll get your money back up to 100,000 USD. There is a similar guarantor fot credit unions in the US.
Paypal, as a payment service is not eligible for FDIC protection.
See
www.auctionbytes.com/cab/abn/y02/m03/i13/s03
and
https://www.paypal.com/cgi-bin/webscr?cmd=p/gen/travelers-outside
It will be interesting to see what protection the mystery "real bank" affords those that choose to deposit... if depositing into an account is ever an option.
AG