Good question Matt. I've been just NOW tinkering with Pay Pal. I don't use PP ever, and rarely use Ebay really (never sold, only bought, and limited in anything I've bought even).
I verified my account with a bank account, and from what I gathered that I read, they don't take ANYTHING from your account, it's just a protection measure for the "Pay Pal COmmunity". Others will be able to verify this though.
From what I gathered, fi you wanted to actually pay with Pay-Pal, you had to transfer money FROM your Bank Account to your Pay-Pal Account, which took a couple days, and then you could pay with Pay-Pal by transferring the money you put into your PP account into another Pay-Pal Account... If that makes sense.
Again, I'm a novice with this. I dont' use Ebay for much of anything unless I can get it for super cheap but recently found a need to have a PP account so I signed up. Still have yet to use it.