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PayPal Casino Bank Guide for Canadians

PayPal is used for transacting online, by millions of users worldwide. In this review, we take a look how it impacts the online casino business

PayPal is widely used globally to send money online. It has a vast clientele that depends on its services on a daily basis. The money aspect is handled by financial experts, while the overall transaction module and interface that it runs on is handled by IT professionals. Casinos are among the investments that are feeling the benefits of digitizing business. It allows for the casino’s online players to deposit and withdraw money instantly. When utilizing the PayPal casinos feature, the player receives some great rewards from the casino. These rewards are usually in the form of welcome bonuses and free spins.

  • It is a very secure method of money transfer.
  • It is legal and verified.
  • It is efficient and fast.

Using PayPal for Online Casinos

PayPal boasts a broad client base subscribing to its services, which is one of the reasons it is among the most famous online money transfer platforms globally. Copious amounts of money change hands on a regular basis, thanks in part, to the ease of access granted by this service. So easy to use is this money transfer service, that gamers have picked up on it in a bid to boost their fortunes in the casinos. In an online casino, access to funds is crucial when taking advantage of any opportunity that may arise to increase the stake and win more money. PayPal makes these deposits instantly.

PayPal casinos offer welcome bonuses for the new players on their platform. It is what is termed as a sign-up bonus, implemented to attract new customers and build a solid client base. By casinos venturing into a business relationship with PayPal, such promotions are effected and add numbers to the casino’s roster of players. Having a balance in the PayPal account requires that the player links it to a credit card or a bank account. Funds are then subsequently moved from the respective accounts and deposited. From then on, these amounts can be spent on an item or service of the owner’s choice. The players use it as an e-wallet to pay for the games at the casino.

Opening a PayPal account

Opening a PayPal account is an effortless process that can be done on a mobile device supporting Android or Apple iOS. You can download the application from the relevant stores, which in this case is the Google Play Store or Apple Store. Alternatively, a browser on a computer with an internet connection can be used. The legal minimum age is required and the possession of a legally accepted verification document such as a passport or national ID is acceptable. The required details are full names, date of birth and an e-mail account. A confirmation link is sent to the respective e-mail address and all that is required is that it is used to activate and log in to the account. The PayPal account can now receive money, but sending it to the casino account would require funds to be loaded first. It is necessary that it is linked to a bank account for such a transaction.

Using PayPal in Canada

PayPal is used by so many casinos in Canada, that it is difficult to find one that does not. It means that most casinos have adjusted their business model to accommodate it, together with other similar online money transfer services. Players from all over the world can have a chance to try their luck in Canadian casinos thanks, in part, to Paypal. These PayPal casinos offer various welcome packages that reward the players with additional bonuses when they sign up and deposit using this service. The catch, however, is based on the minimum deposit which activates the bonus and this can be found in the terms and conditions stipulated by the casino.

Fees and Limits

PayPal imposes charges on some, if not all, its transactions. These costs are regarded to be slightly costlier than most of the other online money transfer services. One reason that might support this fact, is that it experiences massive volumes of transactions each single day, because of its large clientele. A percentage of each transaction is charged, with the most common being the withdrawals and deposits. It is not always the best deal available, especially for online casinos. The maximum limit for any given transaction is $10,000. Withdrawing from the casino accrues some charges and transferring it to the bank also incurs an additional charge. The fees and limit structure are not always the most friendly for players who gamble using small amounts in online casinos.

Benefits and drawbacks of using PayPal

In most online Canadian casinos, PayPal also has a user-friendly minimum deposit requirement that also offers the player attractive welcome bonuses. Whether one is a beginner looking to test the waters of the gambling world, or a seasoned professional with tricks up his sleeves, the deposit is affordable with some healthy returns. Another positive side of using it is the instantaneous payment speed made to the casino. Most players feel comfortable and safe knowing that they can easily and quickly access extra money if they need it. Thanks to PayPal, gamers can look forward to indulging in more play and worrying less, thanks in part to the e-wallet that holds their money. In the event that there is a hotly contested game, and the player needs to put up funds quickly, then they need not worry.

PayPal is a platform that promotes a moral code while gambling. This means that any primary account that holds bills, savings and investment amounts should be separate from the gaming one. It fosters a sense of responsibility by keeping these costs separate from each other. PayPal acts as the betting account where winnings and deposit amounts are safely kept before being used. There are a few small drawbacks attached to it, most notably the cost values being imposed on each and every transaction. It is a setback for many, as it adds to the overall cost of participating in PayPal casino games. It is a hefty amount especially if you calculate it over the longer term. What makes it more frustrating is that the majority of competitors fighting for market share allow free deposits and withdrawals to casinos.

  • It is a very secure service.
  • It is a very fast and efficient service.
  • It can be linked securely to your bank account.
  • It has additional charges on casino withdrawals and deposits.

PayPal Casino Features and Review for Online Users

PayPal allows for sending and receiving money worldwide. Most of the Canadian casinos have listed it as a credible and trustworthy source for paying funds into their online accounts. They do, however, criticize the rates which are higher than most of the other online money transfer services. What keeps the clientele loyal, is the large customer base making sending from one PayPal user to another really effective. It does not, however, allow payments to any other platforms which are also rival competitors. One of the key highlights is the active security setup, using SSL encryption for all user information, that is extremely tough to crack or hack.

PayPal FAQ

Is It Safe To Use PayPal At Online Casinos?

In Canada, most formal businesses and casinos have listed PayPal as a verified means of payment owing to the safety features put in place to prevent fraud and hacking. With SSL encryption, you are confident that details remain private. When your account is involved in any transaction, a message is sent to your personal e-mail for notification.

Is PayPal Accepted At Most Casinos?

PayPal is considered among the largest online money transfer services, and therefore, in Canada, most casinos are willing to accept it as a form of payment. Its popularity makes it difficult to stumble across casinos that do not accept it. The e-wallet feature makes it convenient for gamblers to access their funds, which is important because casinos are looking to make money.

Are Charges Imposed on the Winnings?

Unlike most of the other online money transfer services, PayPal imposes charges on deposits and withdrawals. Once a deposit is made, a small percentage will be levied as a deposit cost. The same happens for withdrawals. The upside of these charges is that PayPal is efficient, reliable and safe to use.

Are the Transactions Fast?

The transactions are instant and are reflected almost immediately when money is sent out. The total time is usually less than five minutes. In a casino, this is ample time to decide on a wager, knowing that funds are readily available. Time is a crucial aspect in the gaming world because it influences outcomes.

Does PayPal Allow Online Gambling?

PayPal supports gambling online because its users make payments across casinos while trying out different slots and games. The speed and efficiency are every gamer’s desire so as to facilitate quick access to funds. It is a haven for the player, knowing that funds are just a few seconds away.

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