PayPal was founded in Palo Alto, California in 1998. It is an e-commerce business that allows customers to make and receive payments over the Internet. In 2002, PayPal became a wholly owned subsidiary of eBay, although it can be used to make payments to large variety of Internet sites.
Countries that Accept PayPal
It is available around the world (US players cannot use Paypal to gamble on the internet). Account holders are able to send money from around 190 countries and regions around the world. Of these, it has significant operations in a number of cities in the US, Berlin, Chennai, Dublin, Luxemburg and Tel Aviv.
Currencies and Languages
PayPal is available in multiple languages including English, Spanish, French and Chinese. Currently, PayPal allows customers to hold funds in 19 different currencies including Australia dollar, Canadian dollar, US dollar, euro, Swish franc, Japanese yen, British pound and many more. PayPal was regulated by the Financial Services Authority (FSA) in the UK until 2007 when it moved to a bank in Luxemburg. It is now regulated under the Luxemburg bank authority, which in fact, itself continues to be regulated by the FSA.
How to Use
In order to use PayPal as a payment method, you need to sign up on their website. This process is free and simple and easy to do. After taking the few minutes to sign up, it should only be another few minutes before you can use PayPal as your payment method.
Simply click on PayPal as your chosen payment option in the cashier section of the online gambling site. You can then use your balance, credit card or bank account to securely pay.
The person that you send money to does not need to have a PayPal account until they want to receive your payment. In other words, all the recipient needs is an email address and they can then sign up once the money has already been transferred.
We List the Benefits for You
PayPal guarantees to keep your financial information safe and secure without providing it to any places where you use the service. Customers of some countries are able to make use of a security key as an added precaution against fraud.
It can be used to both send money and receive money making it a convenient option for using funding your wagering accounts.
Are their Fees Associated with this Banking Method?
Opening an account is free. There are no monthly fees associated with maintaining an account, as well as no gateway fees. Making a payment is also free so using this payment method to fund your online account is a good option. Getting paid via PayPal does incur a cost. The fee for getting paid is 2.9% + $0.30 for amounts up to $3,000. For amounts between $3,000.01 and $10,000, you pay 2.5% + $0.30. For getting paid $10,000.01 to $100,000 you pay 2.2% + $0.30 in fees and for amounts more than $100,000 you pay 1.9% + $0.30.