PayPal Online Casinos
With more than 100 million members, PayPal ranks as the largest e-wallet service in the world. The PayPal services allow the transfer of money from one account to another, without necessarily having to disclose any financial information that might be sensitive each time one transacts. The strict policies of PayPal have seen to it that only the most prominent online casinos use it as one of the deposit and withdrawal methods.
How to get a PayPal Account
Signing up for a PayPal account is relatively simple and takes only a few steps. First, one has to visit the official PayPal website and click on the signup link. The link leads to a page where one has to fill in some details regarding their identity and address. The email address has to be verified before the next step, but this takes only a few minutes.
After verification of the address, the PayPal account will be active and ready to be linked with credit cards and bank accounts. The account will, however, have limits as to the amounts that can be transacted via it until it is verified. The account verification process takes just a few business days.
Depositing with PayPal
For a deposit to be made via a PayPal account, one has to log into the online casino that accepts PayPal deposits. On the online casino website, one has to navigate to the cashier or bank page and click on the deposit link. The page will then direct one to the PayPal login page after filling in the amount to be transferred. After logging in to the PayPal account and confirming the transaction, the funds are transferred to the online casino account.
In case of insufficient funds in the PayPal account, PayPal can directly bill the linked credit card or bank account. This, however, requires the account to be verified first.
Withdrawals at PayPal
After winning from the online casino, the winnings can be withdrawn to PayPal in a few simple steps. A majority of the online casinos will only require the PayPal username or PayPal email address to process the withdrawals. Where necessary, online casinos may ask for relevant identification documents.
The funds received in the PayPal account can be used to purchase goods at any store that accepts PayPal payments, or sent to through cheque or bank transfer. A small fee may be charged for the transfer.
Pros of PayPal
One of the top advantages of PayPal is that it has an excellent reputation. This means that clients have trust and confidence with regards to the safety of their money and personal information. Bank information is required during the signup process only, which limits the chances of such information getting into the wrong hands. With easy and fast transactions that can be done at any time and from anywhere, PayPal offers quite a lot of convenience.
Cons of PayPal
The only disadvantage that can be related to using PayPal for withdrawing or depositing money to online casinos is that the account verification process takes a relatively long time to complete. In normal cases, the amount of time can be several business days.