PayPal has been under a lot of scrutiny the last decade, but has risen to the status as one of the safest means to transfer money online. The online payment processor eliminates the concept of middlemen, interacting directly with the banks that their customers are using.
Given the sheer size and the vast amount of online retailers and merchants that accepts this method of payment has made it a priority of online casinos to start adding this as one method of funding their accounts. For a long time, PayPal would not transfer money to online gambling operators, and what a pity that was when many were using PayPal for a lot of other different transactions. Now that has changed, and more and more casinos add them to their long list of payment processors you can use to fund your account with.
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Why Choose PayPal As Your Depositing Method?
Many of you have probably already used or have heard of PayPal before you were looking for ways to fund your online casino wallet, or some might just look for casinos that accepts PayPal. The main reason for suggesting using PayPal is the fact that so many already have an account there and knows how to use it. In addition to being well-known do they also offer very low fees for transferring funds around. Usually a small transaction fee and a little % of the money transferred.
Some are a little annoyed by how overprotective PayPal can be. They restrict a few countries, and some countries they only allow to deposit and send funds, but not receive and withdraw. I understand what a nuisance this can be, but there is a reason for PayPal being one of the least problematic with regards to fraud. They are taking every precaution to make sure that your money are safe at PayPal.
How To Deposit Funds at Online Casinos Using PayPal?
To be able to use PayPal for transferring funds, you first need to open a free account at their website, www.PayPal.com. Simply visit their site and follow the instructions on how to create an account. Remember to check if you can both deposit AND withdraw funds from the country you live in, so as to not make a great fuzz when you want to cashout your winnings.
When you have acquired an account at PayPal, you can either fund it using your credit card or make use of a bank transfer. Both are usually very swift processes. You can also choose to use your credit cards directly to where you would like to deposit your funds. This what is neat about PayPal, which makes sure you are even more insured. Because if you are scammed by someone, you can file a dispute at PayPal and hopefully get reimbursed your funds.
You might also have to verify that you actually own the designated bank account or credit card, so they will take a small amount from your account that you need to verify the exact amount of. Again, to make sure that you are not being scammed or that someone is not using your credit card fraudulently!
How To Withdraw Funds From PayPal
Withdrawing with PayPal is just as easy as depositing. Just find your way to the cashier section at your online casino and request a payout for the amount you need transferred. This will usually be a pretty quick process, so no need to wait for several days, unless you need to verify your account or something.
One thing to note is that some casinos does not allow you to withdraw to your PayPal account, even though you deposited using it. This is of concern to many, as bank transfers is often the alternative and this can take quite some time. I would contact customer service to check if the casino in fact does allow for withdrawals back to you PayPal account.
Security and Privacy
With the use of thousands of different servers that work on the Linux operating system, which are connected to an offline data server that stores customers’ information, they encrypt this data and transfers it to and from the servers when the transactions actually takes place. As one server does not exchange information with another, it is very unlikely for anyone to be able to hack the highly encrypted systems to get details from the offline database. The step-by-step transaction process that PayPal applies is what protects its members’ data, and makes it one of the safest means to transfer money to play online slots.
Our Opinion of PayPal
This is one of the most used eWallet and payment processor online and for a good reason. They are very simple and quick to use, and the security measures are impeccable. Had it not been for the lack of online casinos offering depositing and withdrawing using PayPal, it would easily have been my #1 choice. For now it has to be NETELLER that is my preferred method, but PayPal is fast coming up behind since I already use it for most anything else when I pay for stuff online.
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