PayPal: A Reliable Online Casino Payment Companion
This multi-lingual American online money transfer company was founded in 1998 under the trade name of Confinity which became operational in 1999. The company’s initial mission was to create a borderless, non-restrictive global currency, but instead opted to serve as a payment system. To date, PayPal processes online transactions for online vendors, gambling sites, auction sites, and other commercial services.
Thanks to its top-notch security, reliability and fast transaction speeds, it enjoys a presence in over 200 countries with 254 million active users as of 2018. The San Jose headquartered outfit also owns 9 other subsidiaries most of which are complementary to their payment services which offer credit card and online payments facilitating electronic transfers. Today, however, we are going to look at PayPal as an option for loading and withdrawing money to and from online casinos for Kiwis.
The Best PayPal Casinos for Kiwis
If you want to use PayPal for gambling online, you’ll be happy to know that there are several online casino platforms that accept it for deposit and withdrawal transactions. Some of the best Kiwi casinos that accept PayPal are such as:
Up to $500 Bonus
Up to $1000 Bonus
$800 Free for First 3 Deposits
Up to $8888 for first 6 Deposits
New players can get a massive sign-up bonus that’s worth a 250% matched deposit package up to NZ$2,500 after loading their first deposit.
How PayPal Works
PayPal is exceptionally easy to use in online casinos that accept it as a mode of payment. However, before you can use it. Usually, potential users register by filling out personal details like name, residence, age, email address, and a password. The process is normally free and takes a few minutes to complete.
How to Deposit Money to your PayPal Account
To load your account, you first have to link your bank account, a process which often takes three days. To deposit money using your bank account here’s what you are supposed to do;
Log into your account then click the ‘wallet button’
Click the “Transfer Money” button then go to ‘Add money to your balance’
Select Bank account you’d want to transfer from
Hit the ‘Add’ button after entering the amount of cash that you would like
You will then have to wait for between three and four business days for the transaction to go through. Alternatively, if you want to start playing right away and you haven’t loaded your PayPal account, you can ask for money from another PayPal account holder at a small fee. From there, you can go ahead and load the money to your casino account, a process that will now be instant.
Additionally, you can also connect your credit or debit card to your PayPal account. This way, if you don’t have enough balance, money will be deducted directly from your connected card to cater to the given transaction.
How to Withdraw Funds from your PayPal Account
After making the right moves online and you win some cash, you can easily transfer funds from your casino account to PayPal. This transaction will likely take less than a day and you can either start shopping online via your PayPal account or withdraw funds directly to your bank account as highlighted below;
Log in to your account and go to ‘PayPal balance’
Select the ‘Transfer to your bank’ option
Hit the ‘Next’ button and input the amount that you’d like to send
Again, hit ‘Next’ then confirm the transaction and transfer the money.
As you can see, using PayPal is exceptionally quick and easy. So, if you do not have an account, create one now and start enjoying the services.
PayPal Transactional Fees
Well, if you receive money, PayPal will charge you a 2.9% fee and an extra $0.45 NZD if the money you are getting is from another PayPal account holder. Transactions to and from your PayPal account using credit or debit cards will attract a 3.4% fee plus $0.45 NZD for any transactions below $5,000 NZD.
For online casino transactions, the fees will often depend on the casino you are playing with. In most cases, however, there are usually no fees associated with the casino when you are using PayPal.
PayPal Security Features
Just like any payment platform PayPal has put in several measures to ensure that its platform is 100% safe. Other than using 128-bit SSL encryption, PayPal has a two-step verification system for login in addition to the normal password. This second passcode is often sent to your phone through SMS and prevents third parties from login into the account.
Advantages and Disadvantages of Using Paypal
Some of the pros and cons of using PayPal are as follows;