PayPal enables its subscribers to make money transfers, from one subscriber to another, to merchants' accounts and to online bookmaking sites as well. The services of this e-commerce institution are renowned for their promptness and security, and are widely used.
The service draws the funds from the subscriber's account, and will send the selected amount to the specific other subscriber or to a merchant's or bookmaker's account via online transfer. The advantage of not disclosing the subscriber's financial detail to the merchant or bookmaker is yet another attractive feature of PayPal's services. Subscribers residing in North America should be aware that payments to gambling sites will not be processed by PayPal. Those subscribers can use their PayPal stored money to send amounts to an e-wallet for example, and make their payment to the gambling site via the e-wallet. But UK and Europe residing PayPal subscribers can conveniently make their depositing using it, and also implement withdrawing via it, as well.
The security characteristics of PayPal
The security of online payments via PayPal has already been mentioned above. It involves not only the security measures taken in processing online payments. Another advantage also mentioned above is the use of the service as a third party processor, and thus the avoidance of sharing the bank account or credit card details with the bookmaking site.
But the security extended by the service exceeds those advantages. It can be said that concerning security the service will invariably err on the side of caution. When some fraudulent activities are suspected, PayPal takes instant measures to flag or lock accounts, for example when a customer tends to carry out a plethora of cross border transactions. But you should not be worried in such cases. The flagging or locking can be dealt with when you call the customer service.
PayPal fees on subscribers' funds
The PayPal service imposes fees on different transactions, and they depend on the type of the transaction. You will be charged a fee on an amount withdrawn to your bank card, for example. If you do not wish to make the amount available via your bank card, you will be able to use the funds withdrawn and make online payments with them almost instantly. If you want to be charged a lesser fee, you can wait until the amounts withdrawn build up, instead of withdrawing them in several parts and thus being charged the withdrawal fee several times.
PayPal will also charge subscribers when payments are sent between different countries, or when conversion is carried out between different currencies.
Another type of fees can be charged when the funding of the PayPal account is done from a credit card or a debit card, because this is regarded as a cash transaction.
PayPal – unanimously accepted by online bookies and a convenient payment method with online bookies
Being one of the most comprehensive processing institutions of online payments, PayPal is unanimously accepted by online bookmaking sites. In fact, a number of these sites will also offer special bonuses for punters who implement their first depositing on them via PayPal. But first a punter must set up his account. This is made easily and promptly, with the filling in of information from the person's bank account, and then making a deposit from that account in order to fund the newly created PayPal account. The amount funded into the PayPal account will immediately be shown. Now the punter can choose PayPal as his option for payments, both for depositing and for withdrawing. As it is an online payment method, you can use it at any time of day or night. The deposits will be processed instantly, and for withdrawals the period can be 3 to 5 business days.
More information on using a PayPal account on online bookmaker sites
Your PayPal account must have funds in it, so that you can make your deposit with an online bookie. The name of the account with PayPal must match the name with which you have been registered on the bookie site. When the name is identical, there will be no problem if you use one email address for your PayPal account and another email address for the bookmaking site. Please note that you must choose PayPal as your method of depositing in order to be able to withdraw to PayPal as well.
PayPal will carry out some verification, to check that you are the holder of the bank account indeed. The verification will involve sending a code, and the transferring of a nominal amount with a special code for reference that must be entered online. After you have entered the details of your bank card, it will be linked to the PayPal account. When your card's term of validity expires, you will need to enter the details of the new bank card, the number and the validity term. If you wish, you can link more than one card, and more than one bank account to your PayPal account, to be able to fund the PayPal account via different cards, and to withdraw to different cards.
You can also use some other options of using the funds withdrawn to your PayPal account. These options comprise a debit card that the PayPal service will send you, accepted by retailers and at ATMs, and also checks: paper cheques sent via ordinary mail, or electronic cheques sent online.
Some minor disadvantages associated with using PayPal
It was already mentioned above that when you deposit into your PayPal account using a bank card, you will be charged a certain fee. As for withdrawals speed, it can be somewhat smaller compared to the speed with other e-wallets.
PayPal: a convenient and secure method for online gambling
PayPal has been in business for years, and has built a steady reputation. Familiarise yourself with how it works, before you start depositing via it.