PayPal is probably the most popular online payment system used by millions of people around the world. After the boom of the World Wide Web, the payment method became even more popular than traditional paper methods such as money orders, checks, etc.
Established in 1998, currently PayPal is among the biggest Internet payment companies in the world.
Overview
PayPal is known as one of the most successful and popular payment methods, when it comes to online payment. The system has become so popular in the past decade and according to some of the reports it has more than 250 million users. Surely, this might vouch for the quality and efficiency of their services.
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Within the next few lines we would like to talk about one of their services – eWallet. Probably you have heard about it, and even if you haven’t, we will try to cover the most essential parts here. PayPal’s eWallet is widely popular among casino players and it has been known for its simplicity and ease-of-use. By using it you will have many privileges in the online casinos.
It has also been adopted as one of the main payment methods in lots of international gambling sites, so once you have registered one, there will actually be no restriction where to play.
As the company points out itself, PayPal is an easy, safe and convenient method for making online payments, which allows its customers to pay in a way suitable for them. The system also guarantees safety, because no sensitive personal or financial information is revealed to third parties.
Opening a PayPal Account
There are a couple of things you will have to do in order to get an account in PayPal. Of course, you have to visit the official website and you also need to make sure that you are using the genuine link, rather than some fishing webpage that will get your information.
Once you fill the fields requiring your information you will be granted access to your account and you will be able to start exchanging money online, withdrawing them to your debit/credit card or play in some of the casinos that take PayPal as payment method.
One of the key benefits of PayPal is the ease-of-use. You can send money in just a few clicks. The money will be received immediately. The system works just fine with online casinos as well.
Once you create your account there and state that your payment method is PayPal, the gambling site will credit your PayPal deposit once, so you can start playing right away – no need of waiting for approval status or any other processes. Any other information you might want to have regarding PayPal and its services can be found in the official site, which is extremely rich in information.
Of course, the advantages of PayPal are not only the above mentioned. There are hundreds of small benefits that you will get and you will start realizing that as soon as you make your account. The first thing is the number of transactions – PayPal allows quite a big number for free. However, there might be some fee charges depending on the banking information and the place, time and kind of deal you are performing.
It might be a good idea to take a look at the fees and charges of the casino you have chosen – there you will be able to find such information and decide whether or not it is a good option to use PayPal on this current website.
The privacy and security is something extremely important in Internet, and this is why PayPal makes everything possible just to keep you safe. Be aware that your financial data will never be shown to anyone. And the last but not least – the payments are extremely quick and easy – everything will be done in just a few clicks. PayPal does not require you to re-enter your personal information and debit/credit card on each transaction.
Types of PayPal Accounts
No matter that all customers accounts are provided with a variety of options and users can both send and receive payments through them, there are three types of PayPal accounts.
Personal
This type of account is recommended for people who prefer to make purchases and payments over the Internet, including sending or receiving personal payments for shared expenses.
Business
The account is recommended especially for merchants who operate under the name of a certain group, company or organization. Some additional options and features are offered to such customers, such as allowing limited access of a certain number of employees to the account.
Premier
The Premier Account is recommended for the so-called “casual sellers”, as well as for non-business organizations that are willing to receive their payments over the Internet or make online purchases themselves.
Fees
The fees implemented by PayPal are some of the lowest on the market. It depends if it comes to a purchase or a personal money transfer over the payment system network.
If a customer pays for a purchase, the operation is free of charge. However, if they get paid, the fee will be in the range from 1.9 to 3.4% + €0.35. When in comes to a personal transfer, the rules applied are the same, no matter if it comes to sending or receiving money.
Regardless of the operation, personal transfers are free when the money comes from the user's PayPal balance. In the rest of the cases (when the money comes from a credit/debit card), the fee rate amounts to 3.4% + €0.35. In these cases, the user decides if the fee is to be paid by the render or by the recipient.
In addition, a retail exchange rate is used if the user's money transaction requires a currency conversion. The exchange rate amounts to the wholesale cost of the foreign currency plus a fee for the currency conversion.
And last, but not least, registering a PayPal account, as well as withdrawing money from a user's balance to their bank account are absolutely free of charge.
Security
PayPal is one of the payment services providers that are most focused on providing their customers with top-level security when making their transactions. Both safety and privacy are extremely important when operating over the Internet, especially when it comes to money transactions.
PayPal offers the so-called Buyer Protection to its customers, which is active in case when an eligible item purchased over the Internet does not arrive or does not match the initial description. In such cases, the protection may reimburse the user for the item's total amount plus postage. The protection cay cover the customers' purchases made online, on eBay or on any other website. The same rule applies when a payment is made on the website of PayPal itself.
The Buyer Protection covers all kinds of physical goods that can be posted and which do not come as a violation of the policies of the company's website. PayPal also offers a list of items that are not covered by the Protection.
Mobile Application
PayPal has not consolidated its positions on the market, but its influence rose when it comes to making online money transactions. The influence of the Internet also played an important part in the development of the PayPal Mobile Application.
The launch of the PayPal Mobile Application was an important step of the payment system's overall evolution. It is currently available for iPhone, Android and Windows Mobile.
The application can be downloaded to the customer's device directly from PayPal's website. Another option for the payment method's users is to log in their Google Play, Windows Phone Marketplace or iTunes account and download and install the applications.
Conclusion
After its Initial Public Offering in 2002, PayPal quickly managed to rank among the global leaders on the market. Currently, there are more than 150 million users accounts registered all over the world. The payment service is available in almost 200 markets and comes at 24 currencies.
For customers reviews about PayPal check TrustPilot
Contact Details
- website: www.paypal.com
- tel number: 00 1 402-935-2050
- Headquarters: San Jose, California, U.S.
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FAQs
It is one of the world’s most widely spread internet payment services, known for efficiency and high quality of service.
This is one of their services, and their most popular product among online gamblers, as it’s accepted on many online betting sites.
Yes, it is, because the system offers guarantees when safety is concerned. No personal info ever gets revealed to any third parties.
Yes, there are. You can choose between Personal, Business, and Premier accounts, but not all of these are preferred choices for online gambling.
Yes, there are, but they are still among the lowest on the market, depending on where the money comes from in a transaction.
Yes, it can, but keep in mind that not all online casinos will offer you this option, even if they accept PayPal as a deposit method.
It can sometimes take days, depending on the bank account the casino uses.
Yes, you are, and some online casinos will even throw special bonus offers at you, dedicated to a specific banking method such as PayPal.
Hello to all out there,
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Throughout the years Paypal has become more and more useful! I don’t know how long since I had Paypal for but from the very beginning until now it’s been one of the best overall payment solutions including withdrawing funds from Coinbase and for shopping. As a deposit method for gambling sadly Paypal isn’t an option for us canadians but it seems to be great for players in the UK. One of the greatest methods out there that stood the test of time! Mega thumbs up!
Paypal is such a quick and easy banking option I absolutely think this is a great way to pay
are these couple of casinos that actually take PayPal deposits legit? I cannot believe that PayPal in this day and age would do business with online gambling providers, US-facing or not, so I am extremely iffy when deciding to trust any casino that happens to take PayPal as a deposit method. What do you guys think anyone actually played at these 2 casinos?
I am from China. I can shop in the world through paypal, but paypal is too rigorous. In terms of protecting the buyer, if it is gaming, it does have limited capabilities. As for the staff arrogance? Unfortunately, I don’t think so.
cant find a single south african accepting casino that accepts paypal , plural GRRRRR
Love it to pieces
Very hard to find casinos that accept Paypal deposits. Would be great if there were more casinos that accept it, there are few which I know like Paddypower and Williamhill but should be more! Withdraw from Paypal to bank account is quick, although it does not include weekends. I get the money same day if it’s processed before 12.00 so not much waiting.
I have been using Paypal for years now but i can’t use it for gambling i can’t find any casino that will accept Paypal deposits or withdrawals from the Philippines nevertheless i can still use Paypal in other ways like accepting payments and making payments to other individuals or groups not just for gambling.
I must admit, I love PAYPAL for so many reasons, Accept Online casinos. I can’t deposit nor withdraw from Paypal within the United States. Which I totally understand. I wish I could, I’d be able to play and deposit a lot more if I were able to deposit and withdraw with paypal. Damn laws. 😛
Very informative article about PayPal. I just read that PayPal will shortly stop serving Turkey due to regulatory restrictions.
What I don’t like about PayPal is that sometimes I have to wait for days to get the money that somebody sent to me. But other than that, they are very effective and secure when it comes to paying online. I don’t think I’ll ever use another payment method. This one works perfectly fine for me.
Don’t waste your time using Paypal! I’m very disappointed not just because of the slow service but also because of the rude employees of this company. My deposit was denied several times for no reason at all and I had to wait an entire week for Paypal to fix the problem.
A couple of days ago I had a little problem with my withdrawal and Paypal managed to fix it right away. I was really impressed by the excellent service of this company. The people I spoke with were very understanding and friendly, and they assured me that I won’t have such problem with my withdrawals in the future.