When looking for a good online casino, the payment system is one of the most important aspects to think about. Not just getting funds in to bet with, but how easy it is to get your winnings out, and for many people, the best and easiest payment system is PayPal.
What is PayPal?
PayPal operates as intermediary between people and businesses. It’s simple to use, you add money to your account and then PayPal sends it to whoever you want, using emails as identification. You receive money just as easily, all the payer requires is your email address, and PayPal does the rest.
The PayPal Advantage
For online payments this brings a huge advantage, because your financial details are only shared between yourself and PayPal, it is a more secure process that removes a risk that all online transactions usually have, and that is what the business does your card details. Because PayPal eliminates that extra issue, it is able to offer peace of mind when making or receiving payments from Casinos.
The Cost of PayPal
PayPal does have transaction costs though, although they do tend to be less than the card companies charge, and if you are using a different currency to the casino, currency exchange through PayPal is automatic, but not always at the best rates for you.
How to open an account with PayPal
Opening an account with PayPal is quite easy, you simply log onto the site and click open an account. Click open an account, the individual account is fine unless you are also going to run a business. Then you simply fill in the required details, name, address, phone number and so on. Then you add your financial details, that is your credit/debit card and bank details. You can fund your PayPal account from either, and have money paid to you paid back to both as well. Once PayPal has confirmed who you are the account will be open.
Getting Verified with Paypal
Once that is done, to remove any limits on the amount you can transfer, its time to get verified. Verifying your payments make sure that everything works quickly, PayPal will charge a small amount to your card, or make a small deposit to your bank account, and the payment has a 4-digit code attached. You enter the code on the verification screen of your account and your payment options are verified. It really is that simple.
PayPal and Online Casinos
In the early days of online Casinos, PayPal was one of the most popular methods of moving funds. Whether it was depositing with PayPal to fund a Casino account or withdrawing with PayPal to gain access to winnings, it worked as a seamless, easily managed payment solution. However, after their purchase by eBay in 2002, PayPal changed the way they operated, and slowly became difficult for casinos to use. Today, finding a casino that accepts PayPal is not difficult, especially in Europe, but they are much rarer than they used to be.
PayPal is highly secure, and payments are incredibly fast, whether depositing or withdrawing, so it is no surprise that many people love using PayPal to fund casino accounts. The biggest downside to PayPal is in fact finding a casino that will accept it. However, it is clear that seeking out a casino that does use PayPal as a payment option is well worthwhile for anyone.
Casino Deposits using PayPal
One of the things that makes PayPal such an attractive option is because it is so easy to use. When it comes to making a deposit in an online casino using your PayPal account, it takes just a few minutes to deposit or withdraw money. Simply go to the chosen casino’s accept deposit option, and the system will take you to your PayPal account, where you log in and confirm the transaction, and that is it!
What’s more, because it is all secure, you are not handing over any financial details, and the casino’s own account will have been verified by PayPal just as yours is, so you always know you are paying who you think you are paying, there is increased peace of mind too. Best of all, instant transfer means there are no delays, you deposit funds, they are right there to begin playing with immediately.
Why do players trust Casino’s that accept PayPal?
The other thing about PayPal payments is that it is a system that we trust, and that is not just because of the secure nature of the transactions, but because PayPal oversees the payment process, and have in-built systems to help if there are problems. Because most accounts are verified by PayPal, they know who is involved with all transactions, and have a very effective mediation system that assesses problems from an unbiased perspective, and will refund money if there is a case where any kind of deceit is involved. That gives peace of mind, and because PayPal control the refund process, the trust that problems can be quickly dealt with is always there from both sides.