How does PayPal work?
PayPal is relatively straight forward and is easy to get used to for first time customers. The first step is to make your account and complete all the relevant information, then you can make your first deposit. When making a deposit into PayPal you can use either a credit card, debit card or bank transfer to add real money to your account, all are perfectly fine to use. Once the money is in your PayPal account, you can now use those funds to deposit onto an online casino and start gambling.
When you have chosen an online casino that accepts PayPal, you will have to choose this payment method when you are ready to deposit. Once you've done that the money will be taken out of your PayPal account and added to your online casino account on the site of your choice. The best thing about this is your card details or bank details have not been shared with the online casino, only your PayPal account number. Withdrawals work the same way, when you are ready to cash out funds from the PayPal casino you will be able to select this payment method and the funds will be added to your PayPal within the timeframe the casino works in. This usually takes 2-5 days on average with online casinos but varies between different sites. It's a really easy process to get used to and other options are available such as: Person-to-person payments, services and personal use.
Are accounts with PayPal free?
Accounts are completely free to make at PayPal and only require some personal details like your name, address, D.O.B etc.
Do they allow online casino transactions?
In simple terms, yes. However, it depends which online casino you want to deposit with as some sites don't have PayPal as a deposit option. Additionally, it also depends on the country you are situated in, as some are restricted from using PayPal in cohesion with online gambling sites.
Do many online casinos accept PayPal?
There are an abundance of PayPal online casinos that let you use this method for depositing and withdrawals. The best thing to do is to research the online casino before use to see if they have PayPal as a payment method. If a specific casino doesn't let you gamble online with PayPal, there are plenty more online casinos to choose from.
How instant are payments?
For online casinos that accept PayPal, depositing the money into your casino account is an instant process and the money will appear right away. However, withdrawals vary in time depending on the online casino you are playing on, some will take 1 day to transfer funds and some can take up to 6 days to complete the transaction. Usually, the online casino will inform you the timeframe between withdrawing your funds and them appearing in your PayPal account.
Are deposits and withdrawals all processed with PayPal?
If PayPal is the payment method you have used for deposits or withdrawals in cohesion with an online casino, then all of your transactions will be processed with PayPal to ensure everything is safe and secure.
Can I use it at an international online casino?
Granted that your country isn't restricted within a certain country and the online casino you want to play on accepts PayPal as a payment method, then you can certainly access international casinos and gamble online with PayPal.
Can I use PayPal when playing at a mobile casino?
This simply depends on whether the online casino you are playing at is compatible with PayPal and has an app for mobile devices. If so, then this is something you can do and allows you to make on the move transactions.
Am I required to pay fees?
In regards to depositing into an online casino via PayPal, there will only be a small fee if a currency conversion applies to that deposit. If not then the deposit will be completely free. This also applies for receiving money in your PayPal account, for example: If your account is set up in Canadian Dollars and the payment you have received is in Pound Sterling, you will be charged a small fee to convert those funds into your accounts currency.
How do they compare with other digital wallets?
Considering PayPal first popularized the digital wallet in the early 2000's, the rest almost followed PayPal into the market and have been competing with them ever since. For example, the PayPal digital wallet is on offer worldwide and is there for everyone in the marker to use. However the Google Wallet is only available in the US market and is yet to reach a wider market.
Another digital wallet that is attempting to conquer PayPal's dominance is the Apple Passbook. The Apple Passbook offers a broader service than the PayPal device as it deals with financial transactions amongst other things, such as: keep your boarding passes, loyalty cards, retail coupons, move tickets and more. Whereas, the PayPal wallet mainly aims in providing the best possible service for customers to handle their finances, send money to friends, family members of merchants accounts.
There are definitely some other digital wallets out there that are trying to offer something different than just somewhere to keep on top of your finances, but PayPal are always trying to develop the financial side of the wallet and let other companies focus on different ideas.
Are there any disadvantages?
Overall, PayPal is one of, if not the best payment processor in the market right now. However, there are some disadvantages that come with PayPal.
Fees are a fact of life when using web wallets and PayPal is no different. There are multiple occasions when using PayPal where fees can be charged for currency conversion, sending money overseas and there are some stipulations when transferring money between friends within the same country and currency. Unfortunately fees are a part of all web wallets and it's something you have to accept when using this type of service.
Another part of PayPal that affects some customers is how they can freeze accounts at any time even if the customer hasn't done anything wrong. Sometimes PayPal will temporarily freeze your account if they decide to investigate your account for unlawful behaviour. This may just be because a lot of your transactions are around online casinos and a gambling market, which might raise concern. Also, your account can be frozen if you've exceeded your withdrawal limit and need to change your settings, PayPal can freeze your account until you have provided some identification in order to change your deposit or withdrawal limits on your account. Despite this being sometimes unnecessary, PayPal strive to offer the best and safest service for their customers and always make sure your funds are safe.
Is it a safe payment method?
PayPal is highly secure and use an industry-leading technology to keep personal information safe for all customers. In regards to technology, PayPal have a state-of-the-art fraud model and proprietary fraud engine which work in cohesion to prevent fraudulent transactions to take place. Additionally, privacy is a huge part of what makes PayPal successful and all personal information is kept completely secure in the system. This is definitely the most secure web wallet on the market today and the company always puts their customers first.