...and completely empty out my savings account?
there are a number of things i want to buy on ebay, but i'm just hesitant because i don't want to get my savings account wiped out
No. That's the whole point of Paypal, that you *don't* have to give out your bank account details to strangers. The only thing the buyer will have is your e-mail address, not your bank account information.
PayPal is the best way to go and they have a good reputation for keeping your info safe. They also have a great protection plan if you have any issues with your purchase. I use PayPal for all online transactions and that way I know that the only place that has access to my info is PayPal no one else...
If you are still worried then you can always just open a free plain checking account for your online transactions. Keep only what you plan on spending in that account.
Paypal is an outstanding tool for privacy and I highly recommend it.