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PayPal - Casino Payment Method

PayPal is one of the largest e-wallet payment platforms. Founded in the USA, it is currently available for use in more than 120 countries. PayPal's marketing aim is for customers to be able to "pay how, when and where they want". In support of this, PayPal allows transactions in an impressive 23 currencies. These include the dollar (US - as well as dollars from Australia, Canada, Taiwan, Hong Kong, New Zealand, and Singapore); the pound (UK); and the Euro. Other currencies accepted are: krone ( Denmark, Sweden, and Norway); koruna (Czechoslovakia); forint (Hungary); franc (Switzerland); zloty (Poland); peso (Mexico and the Philippines); shekel (Israel); yen (Japan); and baht (Thailand).

 

Two other currencies, the ringgit and real can only be used by customers in Malaysia and Brazil, respectively. PayPal's services are currently used by over 244 million users worldwide. Although it can be used by businesses, charities and individuals, we will focus here on individual use. Using PayPal is straightforward. With a single button press, users can buy and sell online, donate to charity and, most importantly, securely send and receive cash electronically.

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Total Grade

Deposits and Withdrawals

It is very easy to open a PayPal account. The login page asks new users for some basic details and a valid email address is a must. Bank account, credit and/or debit card details are added in a few clicks. The account will be up and running as soon as the email address has been verified. Depositing a "Balance" from your bank into your PayPal account is free, and the on-screen instructions are easy to follow.

 

An important feature for online gamers, is, of course, the ability to receive any winnings. Whilst receiving money from friends and family is free, depositing winnings into your PayPal Balance does have a cost. There is a small fixed fee of around 20 pence (or the equivalent) plus a standard charge of around 3.5% of the total value of the deposit. A plus point of Paypal is that you can process deposits in any of the currencies supported and PayPal offers a competitive currency conversion rate. Withdrawals to your bank account, in your normal currency, are free.

Advantages

  • Widely available
  • Supports a range of currencies
  • Easy to use

Disadvantages

  • Relatively poor customer service for complaints
  • Receiving winnings incurs fees
  • No interest paid on any positive balances

Review and Summary

PayPal is a very easy to use e-wallet platform. Opening and funding an account is fast and straightforward: a big plus for online gamers. Transactions in a wide range of currencies are supported. There are fees for receiving money and converting currencies, but this information is easy to find on the website. Withdrawals are free but a slight disadvantage is that, at present, cash can only be transferred to a registered bank account.

 

Of course funds can be left in your PayPal Balance for future use, again at no cost. However, another slight disadvantage is that, unlike standard bank savings accounts, PayPal does not pay any interest on this balance. There is one other downside worth mentioning. While, generally speaking, the vast majority of users have no problems. However, if things do go wrong, it can take some considerable time and effort to sort them out. Overall, however, we would say that PayPal has a lot going for it and would recommend using it for online transactions.