PayPal

paypalDigital wallets have come a long way in terms of security, reliability and convenience. The competition is fierce and the winner is usually decided by the consumers' general interest in having an online partner they can trust for their online transactions. PayPal is perhaps the most famous digital wallets in the world – its name a synonym for THE banking method that is most widely used by consumers and casino players. The latter however has been in constant flux in recent years due to the changing policies of PayPal and their strict regulations for account security. Let's examine the online portfolio of PayPal in more detail.

What is PayPal?

As an online account used to store funds from all kind of banking methods (bank accounts, credit cards, debit cards), PayPal is used as a service for online payments. As a digital wallet, PayPal lets its users deposit/withdraw/receive funds from verified sources, usually involving a fee at the merchant's end (sending money to your PayPal account is free).

PayPal has several types of accounts available, depending on the user and his/hers payment needs. The limit per person is 2 accounts, a Personal and a Business or Premium. The differences between these accounts is the removal of credit card limitation for account funding (the Personal account can receive payments from up to 5 credit cards, while the others have no limit) and some fees that apply for the Personal account might not apply for the Business or Premium ones and wise/versa. Be sure to check the descriptions of each in order to obtain the right account for your needs.

Functionality and availability

PayPal operates on a huge network that is present in over 190 countries all around the world. The countries that are not accepted usually fall in the "unsecure" category. Players and consumers need to take note of the interchangeable fees that apply to payments via PayPal from one country to another (even with the exchange rate, PayPal adds its own fee system that will add yet another % of the funds being transferred). This is especially important to everyone outside the US, where the fees that apply may be higher than usual.

Advantages and unique products

Apart from the option to opt for more than one account, PayPal offers secure and timely payments, along with investment opportunities (check out PayPal money market for more info). Casino players may look forward to bonuses at their favorite casinos when using PayPal, as well as lower fees for withdrawals/deposits.