Unlike Paypal, Google Checkout promises to not suddenly freeze your bank account.
This is helped by, in part, that Google Checkout is tied to your credit card and not your bank account.
Even then, Google Checkout will not freeze your credit card. Worse-case scenario, in the event of fraud or suspicion of, they will stop processing transactions at your request.
What Google should really do is make service called Google VC, tied to Google Checkout. That way you can conduct secure transactions when you want to easily acquire Silicon Valley flipmeats over teh internets.
“Google Checkout says they’ll be Less Evil than PayPal” [*The *Transcendental *Wildcard]