Online Threat Alerts (OTA) - Alerting you to scams and frauds.
Will PayPal Text Me From A Mobile Number? Scam Text

If a text messages address you as "Dear Member", "Customer", "Client" or email address, then you have received a scam from scammers attempting to steal your account credentials, personal and financial information. Remember, PayPal will address you by your name. And, if there is a link in a text to "cancel" any transaction or "confirm" any details, the text is a scam and you should delete it.

If there was a problem with your account Paypal would not ask you to click on an unsafe link in a text, they would direct you to log in normally and go to the resolution or the message center for more information. That is why you should always go directly to www.paypal.com and check your activity.