If you have ever visited an online store before, you will have come across the brand name Paypal. This e-wallet is practically a household name in payment services and is accepted at most online retailers and several online casinos. Paypal is the trusted way to pay online in almost any currency and has been adopted around the world.
Paypal was founded in 1998 under the name Confinity and set out to be an easy and reliable way to pay for goods and services online. Two years later, the company merged with X.com, a company owned by Elon Musk and changed its name to Paypal in 2001.
Paypal was a subsidiary of the online auction site eBay for 12 years before spinning off and becoming a standalone company. Indeed, Paypal’s association with eBay worked to raise the profile of both entities as more people used the service to pay for their eBay purchases and more people turned to shopping on eBay because of Paypal’s excellent reputation.
Thanks to its steady growth, Paypal began offering more than simple money transfers. It added mobile functionality to its list of services and even launched a credit lending product. For gamblers though, it’s the money transfer services that are of interest and the brand offers many advantages in this respect.
How To Make A Deposit Using Paypal, Step By Step
Estimates available in early 2020 put the number of Paypal users at a staggering 286 million worldwide. That means that it is quite likely that your average casino player already has a functioning Paypal account they can use to fund their gambling entertainment alongside any other online purchases, making it an even more convenient choice for depositing at a casino.
If you don’t have a Paypal account yet, setting one up is simple. Visit the site, fill in your personal details and wait for the verification transaction to appear in your bank account. Once you have completed that step, you are free to use your account in any corner of the web!
To make a deposit at a Paypal casino, follow these steps:
Visit the Banking or Deposit page at your casino of choice
Select Paypal as a payment method for your deposit
Select or input your deposit amount
You will be prompted to sign into Paypal with your email and Paypal password
Confirm the transaction to initiate the transfer
How To Make A Withdrawal Using Paypal
The withdrawal process when using Paypal is fairly straightforward. Once you have selected Paypal as a withdrawal option, you will be prompted to input your Paypal account details so that the transfer will be directed to the correct account.
Paypal is considered an e-wallet service but casinos will sometimes group it and other e-wallets separately in terms of the processing times applied. In most cases, you can expect to wait the same amount of time for a Paypal withdrawal as you would for a Neteller or Skrill withdrawal and these are some of the fastest transactions possible.
Pros and Cons
Casino players love Paypal. It’s convenient, fast, safe and they probably already have an account set up before they gamble. There are a few aspects of Paypal that are less positive and in the interest of balance, we feel players should be aware of these before they use it.
Below we take a look at the pros and cons of using Paypal at online casinos:
Available in many countries, currencies
Sensitive banking details kept hidden
Highly reputable brand
Instant deposits, quick withdrawals
Availability at online casinos not as widespread as some competitors
In some regions, Paypal is unavailable or cannot be used to fund gambling activities
Withdrawal out of Paypal account incurs a fee
Paypal Fees, Commissions And Charges
There are no fees associated with opening a basic Paypal account. For our purposes i.e. online gambling, we will not be considering the Paypal credit card as this operates under different rules. There are no charges when you use your Paypal account to make what are called purchase payments. These include buying things online as well as funding your casino account. Players should keep in mind that casinos are free to charge their own fees on deposits depending on the method used though this is fairly rare for Paypal deposits.
Where no currency conversion is involved, it is free to receive funds from other Paypal users. International payments are subject to a fee as well as the current exchange rate. Paypal also charges users to transfer funds from their Paypal account and into a bank or credit account.
Safety and Security
The great thing about Paypal is that at no point does the recipient of a transfer see your bank details. Only your email account appears, which makes this a very good choice for users who are concerned about this sensitive information falling into the wrong hands.
Paypal takes security very seriously. Thanks to its vast network of retailers, it is widely available and this also means that its protections reach further too. Sticking with retailers (or online casinos) that accept Paypal means that your transactions are kept secure through industry-leading fraud and theft prevention measures. It’s no wonder that Paypal is such a trusted brand in online payments.
Other Methods Like Paypal
Paypal is arguably the grand-daddy of e-wallet services. After all, it has been around since the late 1990s and has evolved into a veritable giant in the industry. We could say that Paypal paved the way for the other e-wallet services that have sprung up in the meantime. These include names like Trustly, Skrill, and Neteller.
In terms of customer safety, prepaid options such as Paysafecard offer a comparable level of protection though this particular example falls down somewhat over its one-way payment system.
Unfortunately, not yet. The number of Paypal casinos keeps growing but Paypal is choosy about which brands it partners with. The merest whiff of bad behaviour from an online casino will see Paypal withdrawing its services quickly. It’s clear that this e-wallet doesn’t want to be associated with poor practices and that’s just one reason Paypal continues to be considered such an upstanding brand.
The majority of online casinos offer bonuses and promotions, so it stands to reason that Paypal casinos do so too. Players who use Skrill or Neteller often have to contend with bonus rules that exclude them from receiving deposit bonuses when using their method of choice. This appears not to be the case for Paypal users. We have yet to come across that excludes Paypal deposits from being able to trigger deposit bonuses. That’s great news for bonus-loving Paypal gamblers!
Absolutely! Most mobile casinos offer the same payment options as their desktop counterparts so if an online casino accepts Paypal, there’s a good chance its mobile version will too. You will need your Paypal account details to make a mobile deposit, just like you would on desktop. We would urge mobile gamblers to be vigilant when making payments on smartphones or tablets connected to unsecured networks as this can put your data at risk.
In our experience, Paypal casinos do not charge commission fees on Paypal deposits or withdrawals. However, that’s only one half of the equation. Keep in mind that Paypal itself charges fees on certain transactions, whether they are casino-related or not, so you should factor this in when deciding whether this is the right payment method for you.
Paypal welcomes users from hundreds of countries around the world. The long list includes the UK, the US, Australia, New Zealand, most of the European continent and a large swathe of Africa and Asia. However, users in some countries will not be able to use their Paypal accounts to gamble, most notably users in the United States.
There are several e-wallet options similar to Paypal that are widely accepted at online casinos. These include Trustly, EcoPayz, Zimpler, Neteller and Skrill, though some geographical restrictions may make these available to players in some regions.
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