International payment system PayPal
PayPal is one of the world’s largest electronic payment systems. It is popular not only with Western audiences, but also among CIS users. To date, more than 100 million people actively use PayPal, and this number is constantly increasing.
PayPal was founded in 1998 and has been owned by large multinational company eBay since 2002. The company pioneered the development of a system that allows online purchases, and it owes its popularity to this. The peculiarity of this payment system is the ability to send money to other PayPal customers via e-mail, which people still use today. PayPal supports 25 different currencies, which makes it a truly international payment system.
Setting up a PayPal account is not difficult. All you need to know is your email address and password to make transactions. Once you have logged into your account, you can add a bank card with which to make payments in the future. This is more convenient as you will not have to constantly enter your details when making payments.
Depositing your online casino account via PayPal is also quite simple: on the casino page you choose PayPal as payment method, enter the necessary details (phone number/email, transfer amount etc.) and confirm the payment, after which the money will be deposited.
To summarize, PayPal has a few major pros and cons. Let’s start with the positives:
- PayPal does not charge a fee for opening an account. In addition, there’s also no fee when transferring funds from a PayPal account to a bank card, which allows you to save some money on regular money transfers;
- PayPal is one of the safest online banks in the world. When you make a payment, you can be sure that your details won’t leak out and that your money will get where it needs to go;
- Transfers to online casinos are credited almost instantly.
However, despite the popularity of this payment system, it has some significant drawbacks: - PayPal is not very common as a source of payment specifically for online casinos. In some states of the U.S. due to specific legislation PayPal is prohibited for gambling deposits. The legality of topping up your PayPal account depends on the country you live in (e.g. in Australia PayPal is completely banned in casinos). In Russian online casinos PayPal is also not widespread;
- Withdrawal of funds from the casino account can take 1-2 days, while other popular payment systems (Skrill, Neteller) allow you to make withdrawals almost instantly.
Due to serious shortcomings of PayPal, we do not recommend using this payment system specifically when dealing with online casino account. However, if you need PayPal just for online purchases and money transfers – this payment system handles it very well.