PayPal is one of the world’s leading online payment systems, with over 325 million accounts worldwide. This open digital payments platform offers its services to more than 200 markets around the world. It enables its clients to receive payments in more than 100 currencies, and withdraw money in more than 56 currencies. The company was founded in 1989 and is located in San Jose, California.
To open an account at PayPal, you only need an email and baking details to connect your credit or debit cards and bank accounts to the service. This service is one of the most convenient ways to pay and receive money online. It gives its users full freedom to decide on the method of payment. You can pay via cards (Mastercard, Visa, American Express, and Discover), bank account, or PayPal balance. If you wish to use PayPal balance, you need to have a PayPal Cash or PayPal Cash Plus account.
You can easily choose the preferred way to pay online. Go to your e-wallet, and hit the section Payments open Payment preferences. Be aware that you first need to link the bank or card you wish to use to your PayPal account before selecting it as a primary payment method. However, every time you make a purchase, you can decide which of the cards or accounts you want to use for that specific transaction.
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PayPal, a Payment Method
PayPal has its dedicated mobile applications for Android and iOS. All you need to do is download the app from the App Store or Google Play. The improved app enables you to send and receive money and track transactions on the go.
As one of the easiest and safest way to pay and get paid online, PayPal is gladly accepted by many gamblers and online casino operators. However, since this is a US-based company and the US Government is not supporting online gambling, it is still hard to find an live casino in the US that offers this banking method. This service is, therefore, limited to countries outside the United States.
How to Deposit via PayPal?
Depositing via PayPal is easy. First, make sure to register your PayPal account and link your email to the bank account or credit and debit card you prefer to use. Go to the cashier page, find PayPal, select it as your payment method, and enter the amount you wish to deposit into your casino account. You will be asked to provide the email and will be taken to PayPal account to select the way you want to pay this transaction.
How to Withdraw with PayPal?
If you win some money and want to take it home, cashing out is straightforward too. Again, visit the cashier section of your online casino and find PayPal. Select it and enter how much you want to withdraw from your gambling account. Provide your email and follow the steps to complete this transaction. Once done, you will be able to decide whether the money will stay on the PayPal account or sent to your bank.
Transfer Times, Fees, and Security
It is free to use unless a currency conversion is required. The cross-border transactions incur fees that differ and depend on the amount and the payee’s country. All domestic transactions and those to the EEA (European Economic Area) in Euro and Swedish Krona are free.
Other personal payments across the border will be charged. The cost of sending money to the US, Canada, Northern Europe, Europe I, and Europe II is €1.99, and for the rest of the world is €3.99. But, this can vary based on the amount you pay and can go up to 3.4% + €0.35 per transaction.
As for the time of transactions, deposits are almost instantaneous. Withdrawals, on the other hand, may last longer, given that the casino needs to process the request first. Usually, PayPal clearing is immediate.
It is a safe online payment option. The service doesn’t reveal any personal or banking data to the casino. You are logging using your email and PayPal password, and from that point on, all payment details are strictly confidential.
One of the security features this service has to offer is OneTouch payment, which enables you to pay without logging into PayPal. The service keeps you logged in, and you can use it on the desktop, tablet, or mobile. OneTouch is a handy and safe feature specific to a device and browser, meaning it will work only on the device and browser from which the service has been activated.
This service also uses 24/7 fraud detection monitoring, end-to-end encryption through TLS 1.0 and higher, and connects only with HTTPS protocols. If you use the mobile service via the app, they use key pinning, which ensures that the TLS connection from your phone goes only to a valid PayPal server.