PayPal is the leading United States (US) based, online payment system that first came to prominence in 2003. It was at this time that eBay purchased the company to use as its main online payment provider. Once businesses and buyers began to notice the security that PayPal was providing its customers, it quickly became the world’s largest e-payment provider. This also coincided with the time that online casino’s started becoming popular.
In 2018, PayPal ranked as the 222nd top grossing business in the United States.
Advantages of using PayPal at an online casino
PayPal casinos greatly outnumber any other e-payment casinos. There is a good reason for this.
PayPal offers:
- The ability to deposit, withdraw and transfer casino funds
- They use the latest security certificates and 128-bit encryption
- The ability to use funds in your account for online purchases
- The option to directly link to your bank account
- The best system set in place to prevent illegal activity
- PayPal Pre-paid Mastercard
For an online casino to be able to offer PayPal deposits and withdrawals, it has to follow a very strict set of guidelines that have been put in place by PayPal itself. PayPal has one of the best reputations in the financial industry and is not about to let any illegal or unscrupulous activity tarnish that reputation. In an effort to prevent illegal money laundering, PayPal SA has their system set up to track all of its transactions. This also ensures that your funds are as secure as they would be in any worldwide bank.
A review of PayPal’s guidelines show that they are just as strict as any financial business.
Using PayPal at an online casino
The First National Bank (FNB) is the first South African bank to partner with PayPal. Since then, players can link their accounts at most SA banks to their PayPal account. To connect your FNB account, you need to:
- log-in to your FNB account
- Select PayPal Services
- Then link PayPal profile
- Follow the instructions
Once this is set up, it is very easy to use your PayPal account at any online casino worldwide that accepts PayPal.
Deposits
Once you have your PayPal account set up, deposits to your online casino account are quick and easy. Once you have logged into your casino account, simply select PayPal as your preferred deposit method. Funds will then be transferred to your casino account where you can immediately begin to play. There is no processing time associated with PayPal deposits.
Withdrawals
Withdrawals from your casino account are subject to every casino's in house processing time. Once requested, most casinos process withdrawals within 24-48 hours. When your funds have been released they will automatically appear in your PayPal account. After your funds show up in your PayPal account, you can then deposit them in another casino, transfer them in your bank account or use them for any online purchase where the merchant accepts PayPal.
PayPal Casinos South Africa – FAQ
Is it possible to use PayPal on all online casino sites?
In a manner of speaking, yes. If the casino site that you wish to play on does not offer PayPal, you can still make your deposit with a PayPal Pre-paid Mastercard. Most online casino sites allow players to deposit via Mastercard. This means that a Pre-paid PayPal Mastercard is accepted for deposits at any casino.
How can I register with PayPal?
You need to go to the PayPal website. Register with PayPal SA here.
What do I need to open a SA PayPal account?
According to FICA (Financial Intelligence Center Act) South African citizen will need the following documents to open a PayPal account under the Individual category.
- Copy of your National Identity document. Foreigners will also need to provide a copy of their passport.
- Proof of address in your name: This can be a utility bill, shop account statement, Municipal letter, or a bank statement with an address. If you are not able to provide proof of address, then you can provide a declaration by a third party confirming that you stay in the same house and hence share the same address.
- A copy of your South African Revenue Service (SARS) document which confirms your income tax number.
- A copy of your bank statement confirming your personal banking details.
- Proof of address and the bank statement must be less than three months old.
Why is using PayPal better than using my Visa or Mastercard to deposit to my online casino account?
There are no fees incurred to deposit or withdraw funds to your PayPal account from your casino account. Most credit cards charge fees to withdraw your money from an online casino.
PayPal also offers players the opportunity to fund their casino account without directly linking it to their bank account.
Is FNB the only South African bank that I can link to my PayPal account?
No. you can also link your ABSA, Nedbank and Standard Bank accounts to your PayPal account.
Can I use PayPal at a casino that does not use the South African Rand?
Yes. PayPal supports 26 different currencies. Players also have the option to set-up their PayPal account with multiple currencies.
Does PayPal charge any fees to play at an online casino?
When you have your PayPal account linked directly to your bank account, there are no fees to deposit or withdraw funds to/from your online casino account.
If you are using the Pre-paid PayPal Mastercard there may be fees associated with these transactions. You will need to review the Mastercard Terms and Conditions to determine what/if any fees may be incurred with these transactions.
