There are loads of different ways to deposit funds at an online casino, from credit card all the way through to pay by mobile. One of the more popular options though is PayPal and it’s easy to see why so many people use it. After all, this is one of the most popular online payment methods in the world, known for its speed, security and ease of use. But what should you know when you play at one of the many PayPal slot sites & PayPal casinos out there? Keep on reading and you’ll find out!
PayPal’s Fees
If you want to simply deposit money using PayPal, we’ve got some good news for you. This is the fact that there are no fees for adding money to your PayPal account and no fees for then spending this money online. So, if you start with £20 in your bank account, you’ll still have £20 once the money has made its way to your casino account. This lack of depositing fees is one of the main reasons why PayPal is used.
But how do PayPal make any money? Well, you will have to pay fees if you withdraw funds to your PayPal account. In total, you’ll need to pay 3.4% of the withdrawal amount, plus 20p. So, if you withdraw £50, you pay a charge of £1.90. This isn’t really a huge amount and the security and simplicity offered by PayPal makes the charge more than worth it.
Transaction Speeds
Another of the main reasons why people choose to deposit using PayPal is the speed it offers. Your cash will be transferred from your bank account to your PayPal account in just seconds, and you can then also transfer the money to your casino account almost straightaway. So, you’ll never have to wait too long to play your favourite online casino games!
But what about the speed of withdrawals? Well, they take longer than the deposits, but this is mainly due to the casino’s processing times. You’ll find that a casino usually takes around 48 hours to process a withdrawal request, but this is the case regardless of the depositing method you decide to use. Once the withdrawal is processed though, it will be transferred into your PayPal account straightaway.
Safety and Security
PayPal is one of the most secure ways to deposit and withdraw funds. This is mainly because the data stored with PayPal, such as bank account details, are incredibly well protected using SSL encryption. PayPal spend millions of pounds every year in order to protect their customers, which should help to calm any nerves. What’s more, would so many people use this payment option if there were issues with the safety and security?
The fact that PayPal acts as a middleman is also something that really helps to protect players. Some people simply don’t want to type in their card details at online casinos, however they’re more than happy to input their details at an internationally trusted site like PayPal. Of course, the same can also be said for other e-wallets too, such as Skrill and Neteller, so you’ll need to choose which is your preferred way to pay.
Now we’ve looked at fees, speed and safety, you should know everything you need to know about PayPal. You should also now be able to see why so many people choose to use PayPal at online casinos every day. Why not join them by finding your perfect PayPal casino today?
Author
Craig Healy is the Editor-in-Chief at Paybyphonebillcasino. He has over a decade of experience in writing and editing, with a focus on creating content that is both informative and engaging.
He is a keen researcher and devotes his time to covering everything payments. In addition to his work at Paybyphonebillcasino, He also contributes articles for other publications such as Business Insider UK and Forbes Middle East, where he shares insights about the latest developments in the payments industry around the world.
Feedback - craighealy@paybyphonebillcasino.uk
