Of course there's a place to click. if you follow the link, it will even look like a Paypal sign on screen. Once they get you to "sign in", they're off to the races with your password. This is a scam.

One of the things I don't like about Paypal is that your e-mail address is your ID. So a scammer already has half the information he needs to take it to the bank. My suggestion is to log into Paypal by directly entering Paypal.com on your browser. Once you're logged in, go into your profile and sign up for two factor authentication. Once this is active, Paypal will text a challenge code to your cell phone. You will need to enter that on a secondary logon screen before you can enter Paypal. That way, even if you slip up and lose control of your password, a bad guy would also need your cell phone to do anything.