Paypal for online slots
PayPal is one of the leading virtual wallets, known as eWallets, that provide a quick, secure and convenient way to do transactions online. By using PayPal to deposit money into your casino bankroll you are adding a layer of security has you will not be entering credit or debit card details to the casino, as well as being able to have the payment anonymous as it is only identified by the email address.
Firstly you will need to setup a PayPal account on PayPals website, they also have a very useful app for Android and iPhone devices. Once you have the PayPal account you can then deposit money with various methods such a bank transfer, debit cards and credit cards to create a balance that you can use anywhere that accepts PayPal. You can also register credit cards, so if you haven't got enough funds loaded into your PayPal account when trying to use your funds online, it will automatically deduct it from there, making it extremely safe and convenient.
Deposit money into casino with PayPal
Make sure your selected casino accepts PayPal, then once you have logged into your casino account you head to the cashier section and select PayPal. You will then be redirected to PayPals website where you will be asked to prove your identity with the password and then authorize the amount. The funds should appear in your casino bankroll immediately so you can play slot machines straight away.
Verifying your PayPal account
We strongly recommend your verify your PayPal account, this is a process done via PayPal to prove who you are, you will still remain anonymous to the casinos your deposit and withdraw money. The advantage of being a verified PayPal account is there are less limitations, for example you can only transfer to PayPal $1,500 daily or $5,000 monthly but you can increase that if you have verified account. Also, some casinos may impose withdrawal limits to unverified accounts. The verification process to guided through the PayPal website and should only take a few minutes.
Advantages of using PayPal on casinos
PayPal offers great security as you will not be entering your credit card details directly to online casinos, as well as PayPal having it's own security procedures to keep you safe. PayPal also is a very quick, almost instant way to deposit and withdraw money from your casino bankroll. You will also keep all your transactions anonymous from your bank statements and credit card bills.
Disadvantages of using PayPal on casinos
The downsides are that there are withdrawal fees that come with using PayPal but they are providing a very useful service. Secondly, because PayPal has it's own security to look out for as well as yours, you will find less casinos offer PayPal as an option as there must comply with all the regulations within each jurisdiction. You will find if they do not use PayPal they will likely use another brand of eWallet like Skrill or Neteller.
Fees for using PayPal on online casinos
Online casinos that provide PayPal options will not charge you for depositing money to your bankroll when using PayPal, however, when withdrawing your winnings you maybe charged a fee, as there is sometimes a cost to the casino.
PayPal transfers do not incur a transaction fee for depositing or withdrawing funds from your bank account or debit card, but there will be a transfer fee if paying by credit card via your PayPal account as it is classed as a cash advance and can attract a fee between 1%-5% depending on your card provider.
PayPal will also charge you if there is a currency conversion required, which will be typically between 2%-5% and if you are using a credit card there maybe even further charge. If the transfer is being done by bank transfer via your PayPal account then you will be charge a transfer fee that all bank charge when doing international banking.