No. Your refinance application has NOT been accepted. Your bank hasn't discovered someone from a foreign country trying to sign in on your account, and paypal isn't doing a security check... At least not via a personal email to YOU!
I don't know about you, but I have been getting a LOT of these types of emails lately, and I don't even do double takes any more. They are so obviously bogus I even smile sometimes. I do have a paypal account, but I also know if PayPal wants to communicate with me, they have my phone number. They also use my paypal account name in any and all email correspondence to me... NOT "Dear Paypal user."
I have to admit, they do look convincing, as Brian Whitta pointed out a few days ago with a nice little screen shot of a small sampling of a bogus email from PayPal. He also pointed out a nice little trick all of you should know. Instead of just clicking a link in a suspicious email, hold your mouse over it. Don't click, just hold your mouse pointer over it. Any good email program will reveal the REAL web address either in a popup or in the status bar (bottom) of your email program. Take a peek at Brian's screen shot of a bogus PayPal email... When he held the mouse over what looks to be a legitimate PayPal link, the REAL link showed up. Guess what? It ain't even CLOSE to a PayPal link!
I know we all get a lot of SPAM, and it is tempting to click some of those blasted links, but if you want to keep your machine cootie free, develop a healthy respect for any and all emails from anyone you don't know and from financial institutions. These emails are what your DELETE was made for!