PayPal was established in 1998 and is located in California and eBay bought the company in 2002. PayPal is a very popular alternative payment method which has received numerous awards for their service, more than 20 awards in fact. They won two individual ‘Best Financial Services Site’ awards from the ‘06 Webby Awards and the ‘06 Webby People's Voice Awards respectively.

How does PayPal Work?

Members use PayPal to send and receive money via the web, and you can do this once you sign up for a free PayPal account. You can fund you PayPal account via you credit card or bank account, and this will then allow you to make PayPal payments.

When you buy something via PayPal, you usually click on PayPal during the website in question’s checkout procedure. You can fund your account and PayPal will then transfer it securely to your beneficiary’s account. After you make a payment, PayPal will send your recipients an email to notify them that they have been paid.

An important issue to look at is how sellers transfer their PayPal funds into their banking accounts. This process is quite easy for US residents, as well as residents of 7 other preferred countries that allow transfers from PayPal accounts to bank accounts. US residents don’t pay for these transfers, although the other countries pay a small transaction fee. PayPal is currently accepting people from 43 countries but in only 7 of these countries outside the US can members transfer money: Canada, France, UK, Germany, Netherlands, Australia, and New Zealand. Keep in mind that it takes between three to five working days to withdraw cash from your PayPal account.
 

PayPal Pros and Cons

One of the reasons we would recommend PayPal is because of their low fees, especially for personal account clients. If you open a personal account, you can receive up to 100 dollars per month free of charge, whereas businesses account holders must always pay to get money. Instead of charging high fees like some other alternative payment methods PayPal only charges a % of the transaction and a small transaction fee.



Some people might say that PayPal is overprotective as they don’t allow certain countries to join. Individuals from countries such as South Africa are allowed to make payments but they are not allowed to receive funds. This can be frustrating for individuals who do freelance work for overseas companies. Also, some people have complained that PayPal has suspended their accounts without providing a good reason. The upside of PayPal’s strict security measures it that their fraud rate is much lower than most other alternative payment methods.

Top Casinos Accepting PayPal


Outside of the eight preferred countries including USA, Canada, France, UK, Germany, Netherlands, Australia, and New Zealand; merchants aren’t able to easily transfer money out of their PayPal accounts. Some merchants wonder why PayPal could not simply mail a check in US dollars to merchants from these countries. PayPal is sticking to its guns and says they are an electronic transmission company and not a paper one, and that issuing checks cost a lot of money.

Related Reading

PayPal payment method fees and facts
Available accounts 2 accounts (1 personal + 1 business account)
Available currencies 25
Account management fees free
Account unused free
Exchange fees (FX) 2.5%
p2p Money transfer
Send money p2p free
Receive money p2p Free for p2p in same country and currency by using bank or PayPal balance only.By transferring money internationally, with different currencies or by using a credit card the fee is between2.9% + 0.30 USD (from US to US account) and7.4% + 0.50 USD (from US to Brazil account)–> PayPal User Agreement #Receive Money
Deposit fees
Bank transfer free
Instant bank transfer free
Credit card between 2.90% + 0.30 USD and 7.40% + 0.50 USD
Withdraw fees
Bank transfer free
Cheque 1.50 USD
Prepaid card at the ATM 1.95 USD
To merchant site free (only available at few online gambling providers)
Cashback and promotions
Additional bonus programs none
PrePaid card PayPal PrePaid MasterCard
Requirements to order customer for 60+ days with premier or business account
Fee to order free
Membership 4.95 USD/month
Costs for cash withdrawals at the ATM 1.00 USD + 2.5% FX fees, 1% + 2.5% FX fees outside the US
ATM transaction decline fee 1.00 USD
Costs at points of sale free
Stop payment fee for preauthorized 10 USD
Online bank statement free
New PIN free
New prepaid card 5.95 USD
Cash withdrawal at ATM limits/24h 940 USD
Points of sale limits/24h 5,000 USD
Delivery time 2-4 weeks
Available currencies EUR, USD
Validation 3 years
Two factor authentication PayPal Security Key
Fee to order 29.95 USD
Money-back guarantee in case of fraud yes
Link to terms & conditions https://www.paypal.com
PayPal was established in 1998 and is located in California and eBay bought the company in 2002. PayPal is a very popular alternative payment method which has received numerous awards for their service, more than 20 awards in fact. They won two individual ‘Best Financial Services Site’ awards from the ‘06 Webby Awards and the ‘06 Webby People's Voice Awards respectively. How does PayPal Work? Members use PayPal to send and receive money via the web, and you can do this once you sign up...
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FAQs

Are there any currency exchange fees applicable for PayPal transactions?

Yes, players will be subject to a regular 2.5% currency exchange fee whenever they try to perform a transaction in a currency different from those chosen for their account.

What about deposit or withdrawal fees? Will I get charged for funding my PayPal account?

Yes, PayPal does impose some fees for deposits, but only when performed using credit cards – from 2.90%+0.30USD up to 7.40%+0.50USD. As for withdrawals, when they are an option, the fee for bank cheques is 1.50USD, while an ATM withdrawal via the prepaid card comes with a 1.95USD.

What is PayPal Prepaid MasterCard and how does it work for online casino players?

The PayPal Prepaid MasterCard is a plastic card issued by this online payment service, in partnership with the credit card processor MasterCard. This has made the card available throughout the world, in practically any location where the credit card is, thus bringing an additional convenience and advantage to the users. Issuance comes free of charge, although there is a 4.95USD monthly fee for membership purposes.

Is PayPal a secure payment method of choice for handling my online casino funding activities?

Yes, PayPal pride themselves on their strict policy and all-encompassing security measures. In fact, many countries have been partially or completely excluded precisely due to disreputable behaviours. Aside from all industry and regulatory standards, the PayPal service additionally maintains high customer satisfactory standards, mainly by introducing individual protection closer to the user – PayPal Security Key. With all these encryptions and safety checks, both at PayPal and the top reputable casinos it is partnered with, players can feel free to enjoy their favourite slots or a hand or two at blackjack.

Will I be eligible to receive player benefits and bonuses from online casino operators when using PayPal for deposits and withdrawals?

Yes, PayPal has so far been deeply rooted into the online casino industry (in jurisdictions where it is completely legal), and operators even offered dedicated bonuses to promote its use due to the many conveniences it offers. Even more so nowadays, players can benefit from the gambling sites where they use PayPal as a banking method.

Are PayPal transactions reversible in case I decide to cancel my deposit?

If you decide to cancel the deposit you have made to your online casino account via PayPal, there is a chance to cancel it. However, you will need to access your PayPal account and check the status of the transaction – the ‘Pending’ mark tells you that the funds are yet to be transferred, and the transaction can be easily canceled. On the other hand, if the transaction is in your review list, along with all other payments and cashouts you have made successfully, then there is nothing you can do on your own. For refunds, try contacting your specific merchant and explaining the situation; you are also recommended to open a discussion at the PayPal Resolution Center and get feedback from other users.

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