When it comes to online shopping and online transactions in general, Paypal has become a household name. Paypal was after all the first electronic payment service, which Elon Musk originally setup for eBay. Today, it’s considered as the top e-wallet. Allowing you to make online payments without using a credit card, Paypal is known for its ease of use and high level of security. However, when it comes to online casinos, Paypal isn’t nearly as prolific as other e-payment methods such as Skrill and Neteller. That’s because being a bit of a crème de la crème in the world of e-commerce, Paypal only chooses to work with the most established casinos. So when you see a casino that accepts Paypal, you’ve also found a casino that’s been checked and double checked for its security, reliability and overall player experience.
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Setting up a Paypal Account
You can sign up for a Paypal account in about 5 minutes. As with most things online, just go to Paypal’s website, and fill out the form there with your info. At this point you only really need to have an email address. Once you’ve created a Paypal account, people can send you money. When you have money, you’re ready to play or go shopping. However, to upload funds into your Paypal account yourself, you will have to connect a bank account or a credit card. This is also necessary if you want to withdraw the funds in your Paypal account into your bank account so you can use it as cash.
To connect a credit card or bank account to your Paypal, select “Wallet” when you’re logged in. Then click on “Link a card or bank”, and follow the instructions – you will be prompted to enter your credit card or bank information. When your credit card is connected, select “Confirm my card”. Paypal will then charge a very small fee to your card, usually around $1, that will get reimbursed to you in a week. This small charge generates a 4 digit code on your bank statement – which you can see almost immediately if you’re hooked up with online banking. Once you have this 4 digit code, you can enter it on the same page where you connected your card – just choose “Enter Paypal code”.
If you’re connecting your bank account rather than credit card, then Paypal will make two small deposits into your account. Check what those sums are and then choose “Confirm bank account”. Then enter what those sums are. This will verify your bank account and those two deposits will be reversed in a few days.
Once you’ve connected a bank or credit card to your Paypal, your account will also change into verified status, meaning that not only can you upload funds into your balance, but you’ll be ready to withdraw any funds in your Paypal balance to your bank account or credit card whenever you want.
Paypal does not charge any fees when you make online purchases, however, it may charge a service fee for receiving money if it’s not a personal payment. However, this fee mostly only applies to people selling things online with Paypal.
Why Use Paypal at an Online Casino
There are several advantages to using Paypal at an online casino. To begin with, thanks to the high level of security offered by Paypal, and the safety and convenience of not having to enter any credit card or bank information when making an online transaction, many people already have a Paypal account for shopping or sending money to friends. This makes it ideal for those who are new to online casinos but don’t have a Skrill or Neteller account – the payment methods most widely accepted in online casinos.
Paypal only works with trusted companies, so you know that casinos that accept Paypal are tried and tested. Not only that, but some online casinos won’t let you claim welcome bonuses with Skrill or Neteller deposits. This is when Paypal really comes in handy – make a deposit with Paypal and those extra chips and free spins are yours.
However, for Kiwis, there is one thing to watch out for. Paypal is a bit infamous for its slightly expensive exchange rates. So if you play at a casino that doesn’t bank in New Zealand dollars, it would be wise to keep a balance of Euros or USD (or whatever currency you choose to play with) in your Paypal account to avoid being charged those exchange rates over and over again. Keeping an account with a foreign currency doesn’t cost any extra with Paypal. So that’s our tip for fellow New Zealanders!
Our Paypal Casinos
If you’re looking for an online casino that offers great games, excellent customer service and that also banks with Paypal, here are some of the top choices:
How to deposit with Paypal at an Online Casino
Once you’re set up and ready to get rolling, here’s how you can make your deposit into your casino account with Paypal. Most online casinos have a similar deposit process.
- When logged in to your casino account, go to the “Banking” Tab
- Click on “Deposit
- Specify how much money you want to deposit
- Choose “Paypal” from the options
- Follow the instructions on the screen. Usually what will happen is that the casino will redirect to Paypal’s site where you enter your Paypal info, and then will go back to the casino’s website when it’s done.
- The money should be then credited to your casino account and you’re ready to play!
To withdraw funds
The details may vary, but the withdrawal process is very similar across most online casinos. To withdraw money from your casino to your Paypal account, do the following:
- From your casino account, go to “Banking”
- Click ‘Withdraw’
- Click on “Paypal” for payment method
- Submit Withdrawal Request
- Some casinos may have a pending period of 2 business days before the request is processed. When it’s processed, the money will be in your Paypal account on the same day.
- To withdraw funds from your Paypal to your credit card or bank account, simply, select “Withdraw money”, which is listed under your Paypal balance. From there you can withdraw the funds to your card or bank.
Although Paypal is not widely accepted across all online casinos, those that do take Paypal are known to be some of the best. It’s a great choice for new gamblers and players to fund their casino account because most likely they already have a Paypal account set up for other day-to-day purposes. There’s also the added benefit that Paypal deposits will qualify for welcome bonuses where Skrill and Neteller may sometimes not. And of course, like many e-wallets, Paypal has the advantage of keeping your credit card and bank information away from online merchants, including online casinos. Players thus appreciate this extra level of security when they’re playing.