What Is PayPal?

Although credit and debit cards are still the most popular way of funding online poker accounts, PayPal has gone widely popular over the past few years. The company was founded back in 1998 and currently can be used in 202 countries. PayPal accepts a total of 25 currencies so it’s no wonder a lot of poker players use it for deposits as well as withdrawals. In the first quarter of 2018, PayPal reported to have more than 237 million active accounts worldwide.

Setting Up Your PayPal Account

Play Online Poker Using PayPal PayPal is a trusted e-wallet accepted by many online poker providers. Whether you’re scrolling through poker rooms or looking for a new place to play online poker.

Creating your PayPal account will require no longer than several minutes. First, you will need to go to www.paypal.com and click on the “Sign Up” button. There are two types of accounts which you can make on their website – personal and business account. Since you will be using this for playing online poker, choose the “personal account” option. After that you need to fill in your name, email address, a password and your address. Once your account is set up, you can connect your PayPal to your bank or credit card.

Making Deposits and Withdrawals on PayPal Poker Sites

After the sign-up process, you can use PayPal to make deposits and withdrawals on your preferred poker website. To do this, simply navigate to your account page and click on “Deposit”. Here you will see a bunch of payment methods you can use. After selecting PayPal, you will be redirected to their website and be asked to log in using your email and password. From there, just type in the amount you wish to deposit, and the funds will be transferred to your poker operator almost instantly. After your deposit is accepted, you can start enjoying your next poker hand.

The similar procedure goes for withdrawals. Navigate to the cashier section of the poker website where you can collect your winnings and choose PayPal from the list of payment options. Select the amount you wish to withdraw and shortly thereafter you will receive an email stating that the money arrived to your PayPal account. While you can instantly use this money over the internet, moving it to your bank account will require several business days. There are also some fees involved with this action that we will talk about below in more detail.

Minimum/Maximum Amounts and Processing Time

The good thing about PayPal is that there are almost no limitations on how much money you can move around with it. The deposit and withdrawal limits will depend on the poker operator’s rules. Usual minimum deposits can be as low as $5 and the maximum withdrawal limits can be up to $20.000. Some sites have VIP memberships or loyalty programs that will allow certain number of players to exceed their withdrawal limits. The poker websites you can see listed here are some of the best for PayPal users as they have few limitations considering these limits.

As for the processing time, we already mentioned how both deposits and withdrawals are almost instant when using PayPal. However, once you get the money to your PayPal account and want to transfer it to your bank account, it may take several business days for it to arrive. This waiting time is usually determined by factors like your location and the bank you chose, but it can also be that the poker site might require some time to approve your withdrawal.

PayPal Poker Sites Transaction Fees

What separates the best from the rest when it comes to poker operators is that the top poker websites don’t charge any fees for transaction processes. Some websites do charge fees for certain amounts, but this is rarely the case with websites we review here. For the most part you can deposit and withdraw from our recommended poker sites using PayPal without having to pay any additional fees.

PayPal itself also doesn’t charge fees when making deposits or purchasing anything over the internet. However, when it comes to withdrawing money to your bank account, you can run into some small fees. The size of these fees will mostly depend on what country you live in and which currency you use. The fee will consist of a small fixed amount and a certain percentage of the sum you’re withdrawing.

The Downsides of PayPal Poker Sites

Overall, PayPal is a fast, easy, and reliable payment option for most poker players across the globe. However, there are a few disadvantages worth mentioning about this payment method.

Now, PayPal is fast for both depositing and withdrawing. If you want to use money on your PayPal for funding your poker account or purchasing stuff over the web, you will love it. However, if you want to have that money transferred to your bank account and collect it in cash, you will have to wait several days. While this might be standard for all e-Wallets, it’s still annoying.

Another issue with PayPal are its fees. A small fixed fee when withdrawing to your bank account is not that big of a problem, but the percentage fee of your sum can be damaging. If you’re withdrawing big sums of money you can lose tens, and sometimes even hundreds of dollars in the process. Nevertheless, this will depend on the currency you use as well as the country you are residing in, so make sure to inform yourself about these rules before making an account.

In some rare cases your PayPal account can be frozen. This might happen for instance if you’re getting some uncharacteristically large payments for a certain amount of time. However, these issues can be quickly resolved once you contact PayPal customer service. ^[1]

Almost everybody has a PayPal account already, don’t they? Whether you use yours for online gambling or shopping at online retailers such as Amazon, having a PayPal account is a must. There are ample poker sites out there on the net which accept this leading worldwide deposit option, and there are many reasons why you should want to use PayPal over other banking options when playing at your favourite online poker rooms.

Let’s look closer at Paypal poker sites

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What is PayPal?

Contents

Online banking options don’t really come much more famous than PayPal. This online e-wallet can be used by people across the globe, but only a handful of players will find PayPal accepted at poker sites. We’ll get into that in a little more detail, shortly, but first, let’s have a look at PayPal itself.

Stores That Accept Paypal

PayPal is an e-wallet, which means electronic wallet. It is a stop-gap between your bank and the place where you wish to purchase or deposit something. In short, you can transfer funds to your PayPal account from your bank, and then access those funds in the e-wallet to deposit at your favourite online poker sites without ever having to hand over your banking details to the poker room. This provides an added sense of security for players since at no point does the poker room know your bank account information. If the poker room were to be hacked – which is unlikely – nobody is getting hold of your banking information.

PayPal provides safe and secure deposits to and from your favourite poker rooms, it allows players the opportunity to make smaller deposits than they would otherwise be able to do with credit cards, and the good news is that most of you already have a PayPal account. Using this method at PayPal poker sites is a doddle…

List Of Websites That Accept Paypal

Using PayPal to Deposit and Withdraw at Poker Sites

Before you can deposit or withdraw with PayPal, you need to have a PayPal account. If you don’t already have one, you can sign up for one for free at PayPal’s website. Once you have linked it to your bank and transferred some funds over from your bank into your PayPal account, you’re armed and ready to play online poker with PayPal.

PayPal is ideal for players who want to play micro stakes, or just deposit small sums of cash to their online poker site account. By clicking on the banking section of your poker room and selecting PayPal as the deposit option, you can deposit anything from £10 (sometimes as little as £5) up to more sizeable sums. The deposit lands in your account instantly, and there are no fees for this transaction.

Withdrawals are also possible with PayPal. Have a look at the list of withdrawal methods available at your PayPal poker site and select PayPal. From there, you can select the amount you wish to withdraw. Provided you have fulfilled the wagering requirements from any bonuses you may have claimed at the PayPal poker site, your withdrawal should land in your PayPal account within 24 hours. There are usually no any fees for withdrawals, either. Once you have your winnings in your PayPal account, it is up to you if you wish to leave them there or transfer them over to your bank account.

PayPal Poker Fees

Ordinarily, PayPal poker sites don’t charge fees for depositing or withdrawing to and from your account. However, that doesn’t mean to say that some poker rooms won’t, or that PayPal doesn’t charge fees themselves. Should a currency conversion be required (for instance, if you’re playing at a poker room which is offshore and doesn’t offer you local currency) you may find yourself charged with a small fee for that conversion.

A good number of the leading poker rooms will cover that charge for you, but not all of them. PayPal sometimes applies charges to deposit or withdrawals to and from your account, but this is rare and only really occurs with traders and business PayPal accounts, not the standard PayPal accounts that most players use to play at PayPal poker sites.

More Questions About PayPal?…

No. In fact, many online poker rooms do not. Given this, we would always advise that players check out the list of payment methods (particularly those for withdrawals) before they decide to sign up and play at any online poker room. There are, however, ample lists of PayPal poker sites out there which showcase all the leading poker rooms which accept this banking option.

Generally speaking, all major UK online poker rooms accept PayPal. Players in the US are going to find that many Curacao, Panama and Costa Rican licensed poker sites do not accept PayPal. Australian and players based elsewhere in Europe will have a hit and miss experience with PayPal poker sites, depending on the poker room they decide to play at. For UK players, though, none of this is of any concern.

There are many reasons why you may wish to use PayPal. As we’ve said, you can cut-out the risk that your banking details will be stolen when using e-wallets such as PayPal. That added sense of security and the rapid deposit/withdrawal times it brings are of instant appeal to players at poker sites. However, alongside PayPal poker sites, there are other e-wallets which also offer similar features, such as Skrill and Neteller, to name but a few. These are just as good (although Neteller is known to charge hefty fees) but neither is as renowned as PayPal, even if they are more commonly offered at poker rooms.

Yes, PayPal has an inherent mobile app for both iOS and Android users which allows you to deposit and withdraw money from your e-wallet using a smartphone or tablet.

This matter is treated differently across various countries, but overall PayPal does set a certain limit. Mainly, anyone over 18 can use it, although at some countries, users need to be 21 or older.

Not really. A few PayPal poker sites will actually offer players special alternative deposit bonuses if they happen to use PayPal, but not many. These bonuses often consist of a 10-15% bonus on top of whatever you deposit when you choose PayPal. Like we’ve said, though, these bonuses tend to be few and far between.

Absolutely. Even if you are hesitating about using PayPal at online poker sites, we certainly recommend you get a PayPal account. They cost nothing, and almost all major online retailers (such as Amazon) accept PayPal. Once you’ve got an account, you will quickly find that there is very little you cannot do with a PayPal account, including gambling at your favourite PayPal poker sites.