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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
What is PayPal?
It is one of the world’s most widely spread internet payment services, known for efficiency and high quality of service.
Is an eWallet Provided?
This is one of their services, and their most popular product among online gamblers, as it’s accepted on many online betting sites.
Is it Safe?
Yes, it is, because the system offers guarantees when safety is concerned. No personal info ever gets revealed to any third parties.
Are There Different Types of Accounts to Choose From?
Yes, there are. You can choose between Personal, Business, and Premier accounts, but not all of these are preferred choices for online gambling.
Are There any Fees Involved with Transactions?
Yes, there are, but they are still among the lowest on the market, depending on where the money comes from in a transaction.
Can PayPal be used to make withdrawals?
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.
Is there a waiting period for withdrawals?
It can sometimes take days, depending on the bank account the casino uses.
Are you eligible for bonuses when using PayPal?
Yes, you are, and some online casinos will even throw special bonus offers at you, dedicated to a specific banking method such as PayPal.
Can you use PayPal for online gambling in all the countries?
You can at some countries, but US residents can’t use PayPal for online gambling.