As an e-wallet with the widest international coverage, PayPal has been one of the most popular payment methods since it was first launched in 1998. Players often associate the brand with increased reliability, and lately, the number of online casinos that include PayPal as a depositing option is rapidly increasing. With more than 250 million account holders across the globe, PayPal casinos will easily adapt to most markets, without forcing the players to make compromises. This is not the only advantage of the service and apart from depositing, the players will also be able to withdraw their funds using the same method.
Recommended Bingo Sites that Accept PayPal
Although there once was a time when PayPal shied away from processing gambling-related transactions (the policy was introduced right after they had merged with eBay), the company has returned to the gambling scene after parting ways with the popular marketplace. A lot of operators jumped at the opportunity to provide their players with this reputable means of depositing, and the casinos below are a good place to start if you are adamant about using PayPal for your gambling transactions:
PayPal is an e-wallet platform that enables their registered members to pay for goods and services online, or simply send money to other PayPal account holders who reside across more than 200 locations worldwide. The payments can be preserved in 25 currencies, withdrawn from your casino account in 50+ currencies (GBP, EUR, AUD, USD…), and converted online.
How does PayPal Work?
To use PayPal services, you will have to register an account and link your payment card or bank account to your virtual wallet. The registration itself is free, however, a small reversible charge will be applied for verification purposes. The same amount will be returned to your account upon completion of the registration process. To send money to another PayPal user, you will need to have that person’s email address and you will be good to go. A fee will be applied to each transaction and the percentage rates can be found on the site (quick link to the “Fees” section can be found at the bottom of the page).
How to get Started Playing Bingo with PayPal?
If you would like to fund your bingo activities via PayPal, make sure that the casino which hosts your favourite bingo variants offer PayPal as a payment method – you can check that at the bottom of the page, where logos of the most popular payment service providers are displayed. Alternatively, you can send an inquiry to the customer support team.
Create a PayPal Account
The first step is to set up your account and add a preferred funding source. PayPal offers two options – business and personal. As a non-business entity, you should obviously go for the “personal” option. The sign-up procedure is extremely simple and after submitting your personal details, you can proceed with linking your credit/debit card with the PayPal e-wallet. Depending on your location, you will also be able to connect your bank account. If you are not able to complete the procedure, get in touch with PayPal customer support and explain the issue – before doing that, make sure that the account or card you are trying to link has a positive balance. When the entire process is wrapped up, the verification email will be sent to your provided email address. This is the final stage of the account setup process and once you confirm the email address, you will be officially equipped to use PayPal for purchasing bingo tickets.
Deposit & Withdrawal
The main appeals of PayPal are speed and versatility. While they are plenty of safe or discreet payment methods that you can use instead, sometimes they offer a one-way service. This means that you can only utilize them for deposits, which will force you to find an alternative solution for withdrawals. Opting for PayPal will kill two birds with one stone, and you can use it to fund your account or settle your payout request.
To place your deposit via PayPal, go to your casino cashier and select the relevant option. Once you select the e-wallet from the list of available methods, a window will pop up, prompting you to log into your PayPal account, select the deposit amount, and confirm the payment. The process is pretty much the same with the withdrawals. The casino will transfer the funds via the selected method, and as soon as the payment appears on your PayPal account, you will receive an email notification.
Does PayPal Charge Fees?
Registrational fees are not applied, which means that opening an account with PayPal is perfectly free of charge. Do not be confused by the initial PayPal transaction that you will notice on your card or bank account, as this is only a part of the authentication process and the charge is not actually processed. The follow-up transactions will come at a cost and PayPal will apply fees on commercial payments, currency conversions, chargebacks, eCheck services, etc. The percentage rate is fixed (between 2.4% and 3.9%, depending on the transaction type) and you will be able to find the full list of percentage rates on the site.
Pros & Cons of Using PayPal
The most common benefits of using PayPal are the increased control over your spending funds and security measures that the company uses to protect their account holders. Some of the greatest advantages of the service are:
High level of control and security – especially if you switch to PayPal cards which can be used for your online casino transactions exclusively. Also, you can control the amount of money that you transfer to your e-wallet, thus creating your own spending limits.
Extremely short processing time – the processing time is almost instant, and the money is settled within 24 hours. So, instead of waiting up to 7 business days, PayPal will give you immediate access to your funds.
PayPal has a loyalty system and the more you use it, the more comp points you will collect, which you can then redeem for cash.
Finding a disadvantage to using PayPal is not that easy; one possible drawback is that not all online casinos accept the method, but this has more to do with legal obstructions and issues, which are not necessarily tied with PayPal (for instance, the online casino is targeting the market where PayPal is not available). Sadly, as a payment solution, PayPal is still not as common as Visa, although it’s definitely getting there.
So, Is PayPal Really Safe?
As safe as they get! It is important to note that no payment method is bulletproof, but when it comes to security measures and safety policies, PayPal is top-notch. In case of any unauthorized or unwanted transactions, PayPal will cover the lost funds or even take appropriate steps to investigate any complaints regarding the paid services that were misleading or deceiving. If you feel that your account was compromised in any way, the incident must be reported to PayPal immediately, preferably with documents supporting your claim.
The unwanted transactions must be reported within 60 days and the status of your report can be monitored on the PayPal Resolution Centre Page. Another way to get an update about your claim is to contact PayPal customer support (Monday to Friday, from 9 AM to 5.30 PM CET). After investigating the matter and contacting the service provider, PayPal can make a decision to reimburse the plaintiff in full and recover the amount by charging the merchant. For full details about safety guidelines that protect online gamblers and bingo players, one should reach out to customer support, as the nature of these services can sometimes affect the procedure and security policies.