PayPal is an extremely well-known payment method that operates in over 200 countries in 25 currencies, and is probably best known for its association with online auction giant eBay. The company operates as a payment processor for online vendors, auction sites, and other commercial users (like online bingo sites!), for which it charges a small fee in exchange for benefits such as one-click transactions and password memory.
PayPal was founded in 1998 under the name Confinity, was then merged with X.com in 1999, then finally renamed PayPal in 2002. The company was acquired by eBay in July 2002 for $1.5 billion, and quickly became the most-used payment method by eBay members.
PayPal and Bingo Sites
Many – but not all – online bingo sites accept PayPal as a payment method, thanks to it being one of the most popular forms of paying online. If you’ve used PayPal to pay for services or goods at any site – perhaps you’re a keen bidder on eBay – then it works the same way on bingo sites.
PayPal have also stated that they won’t work with online bingo sites that accepts players from countries where gambling online is forbidden. So you have the guarantee that PayPal only does business with safe and ethical operators. This protects you from unregulated sites as much as it protects PayPal.
Unless the merchant has been approved by PayPal, account holders may not use PayPal to send or receive payments for any form of gambling activities, including but not limited to payments for wagers, gambling debts, and gambling winnings, whether conducted online, in person, or through any other means of communication.
PayPal monitor every transaction 24/7 to prevent fraud, email phishing and identity theft. Every transaction is encrypted using advanced encryption technology. They have also enabled 3D-secure (which you might be familiar with if you’ve used a debit card such as Visa to make online purchases), so you can be assured that your money is safe. PayPal can also put a hold or freeze on money in your account if they think there’s unusual activity on your account. If this does occur they usually resolve the matter within a week, but their policy states that they can hold your money for up to 180 days.
PayPal is a safe and easy way of funding your online bingo games, but keep in mind that you must have a secure password for your account, just as you would with any other financially sensitive information. And it’s a good idea to not use the same password for your PayPal account as you use for any of your bingo site passwords.
Essentially you are using a go-between when spending money on bingo sites with a PayPal account. You never directly enter your card details into a site, so as long as your PayPal account is fully secure, there’s no danger of bingo sites getting access to your financial information. Whilst this is no problem in itself, you may feel more at ease knowing you are keeping your game playing activity and bank details separate. Accounts can be funded by credit or debit card, by linked bank account or even by selling items on eBay. This means you don’t necessarily have to use a credit card to use a PayPal account. But even if you do, the card details aren’t passed to the bingo site. Be aware that the card issuer however will be aware of your transactions, and will raise issue with transactions that they deem potentially suspicious.
How To Sign Up for PayPal
Signing up to PayPal is a free and easy process. Just navigate to the site and click on “sign up”. If you’re just using it for playing online bingo or making online purchases, you’ll want to make a personal account – choose this option and then click “continue”. You only need an email address to sign up, but if you want to add funds to your account or attach a card, you’ll need to add these details later.
Advantages and Disadvantages of PayPal
Advantages of PayPal:
- Widely accepted by online bingo sites and other services and retailers.
- Easy mobile app means you can access your account easily.
- Low fees (0-2%)
- Extra security – you don’t need to enter your card details into the bingo site when you deposit.
- Super fast – once you’ve logged in it’s a quick process to pay.
Disadvantages of PayPal:
- Not available at all online bingo sites.
- Sometimes you won’t be able to claim particular bingo offers if you deposit with PayPal.
- Fees apply.
PayPal Vs Other Brands
PayPal is one of the most commonly seen forms of accepted payment at online bingo sites, after debit and credit cards. It’s the best known thanks to its association with eBay, and has fast transfer times and a range of services it offers – you can send money to friends for free, or put donate buttons on your own personal site if you want to. The fees are generally lower than other e-wallets or payment methods, though unfortunately it’s not completely free to the user (unlike debit cards or Boku, which don’t charge additional fees for use on bingo sites).
PayPal Usability and Registration
When you make a deposit at a bingo site, you’ll need to click on the option to deposit, then click on the PayPal logo to get started. You’ll input your deposit amount, and your PayPal details – email address and password – and then you’ll be able to confirm your payment. That’s all you need – it’s not necessary to type in any new details.
Most sites that allow you to deposit with PayPal will also let you withdraw using the service, so that’s great if you don’t want to juggle multiple payment options. Once you’ve withdrawn to your PayPal account, you can easily withdraw the cash to your bank account – which is usually free.
PayPal on Mobile and Tablet
There’s not much to say about using PayPal on mobile and tablet devices – it’s pretty much the same as on desktop! However, you can also download an official PayPal app for iPhone or Android devices which can help make your payments easier – and you can manage your money simply with just a few taps of a button.
PayPal Final Thoughts
PayPal is a great all-rounder of a payment method and it’s easy to see why so many players use it – low fees, lots of online bingo sites and other retailers accept it, it’s quick and easy to use, good user protection – so we would definitely recommend this as a payment option (especially if you’re also looking to purchase other things online besides bingo tickets!)
We’d rate PayPal as 8/10.