PayPal, an electronic payment processing company, was established in 1998. The company serves a number of individuals, vendors, and online stores. In 2002, it became the wholly owned subsidiary of eBay, and on July 18, 2015, it became a company in its own right and launched its initial public offering on July 20. By that time, the company was worth $46.6 billion.
Using PayPal is a convenient, fast, and safe way of purchasing products and services online. To start using PayPal, consumers have to first create an account using their email address and then load it with money. Once they have created an account, they should click on the PayPal icon on the consumer website. They will be immediately directed to PayPal and prompted to initiate payment.
PayPal is available in 200 countries all over the globe and supports over 22 currencies. Consumers, especially gamblers, are fond of PayPal because they can use it to make payments without revealing their personal financial details to online vendors, including online casinos.
Consumers trust PayPal because of its excellent customer protection policies. Consumers who do not receive the product that had paid for or receive it an unacceptable condition can demand a refund using PayPal's services.
PayPal is safe and secure as it implements the latest encryption technology to keep player details and transactions safe from hackers and cheats. In addition, consumers can earn loyalty points through their use of PayPal, points that can later be exchanged for cash.
Using PayPal in Australia
PayPal has over 6 million Australian customers who use it to make payments online. Aussie customers prefer PayPal for the following reasons.
Easy Sign Up: Signing up for PayPal's services is a quick and easy procedure. Once an Australian player signs up at PayPal, players can easily add their credit or debit cards or bank accounts.
Safe and Secure: PayPal encrypts credit/debit card information so that it can be easily and safely used whenever they go shopping online. Australian consumers can rest assured of safety and security because all transactions are monitored for fraud 24/7.
Convenient: If consumers add their bank accounts and cards, they don't even need to load their PayPal accounts. They can pay directly from their cards or bank accounts through PayPal and earn rewards points for doing so.
Pay on the Move: Consumers can also use PayPal on the move through the PayPal app. They only have to login with their PIN and mobile number.
Consumer Protection: If an Australian consumer does not receive the item paid for in proper condition, they can get a refund back up to AU$20,000.
Aussies can use PayPal at over 110,000 stores in Australian and millions or stores all over the world.
How to Fund Your PayPal Account
Australian consumers can fund their PayPal account in two ways:
- Bank Account: Aussies can link their PayPal account to their bank account. They can then safely and securely move funds from their bank account to their PayPal account and vice versa. This service is absolutely free and takes around 3 - 4 business days. Whenever a transaction is completed, consumers will receive an email from PayPal.
- PayPal Cash: This is a convenient way to load a PayPal account through a local retailer. To use it, consumers have to login to their PayPal accounts and select a retailer. PayPal will then create a customized barcode, which they can either present to the retailer on their smartphones or print out. Consumers should then present the cash and barcode to the retailer and pay $3.95 of service fee. PayPal will automatically credit the amount to customers' accounts and send them an email confirmation.
How to Deposit Using PayPal
Australian online casinos can use PayPal to easily, quickly, safely, and securely fund their accounts. Here is a step-by-step guide to making an online casino deposit using PayPal:
- Register an account at PayPal.
- Register a real money account at an online casino that supports PayPal.
- Login to your online gaming account and choose PayPal as your preferred casino banking method.
- You will then be directed to the PayPal site, where you can login to their PayPal account.
- Once you are logged in, you can input the amount of money you would like to deposit in your online gaming account and hit the confirm button.
- The money will be instantly transferred to your gaming account.
How to Withdraw Using PayPal
Making a withdrawal using PayPal is just as easy as making a deposit, and here is a step-by-step explanation:
- Select PayPal as your preferred withdrawal option.
- Enter the amount you want to withdraw.
- A PayPal page opens and prompts you to enter some details.
- Funds will be instantly credited to your PayPal.
- Once your winnings are in your PayPal account, you can easily withdraw them to your bank account.
PayPal Costs and Timing
Online casinos usually do not charge Australian players for making deposits and withdrawals. Usually, there is hardly any deposit delay and the funds are instantly made available for real money play. Withdrawals are almost instantaneous, but delays if any vary from one casino to the other.
Most online casinos support Australian dollars. In case an online casino does not support AUDs, PayPal can do the currency conversion using the existing wholesale exchange rates. PayPal will also charge a small percentage as fees. If Australian players use debit/credit cards, they may opt to use their credit card company's rate of currency conversion.
Sending Australian dollars to PayPal accounts registered in Australia and using one's PayPal balance or a linked bank account is absolutely free of charge. If players use their credit/debit cards 2.4% plus $0.30.
PayPal charges 0.5% to 3.3% for using a linked bank account or PayPal balance and 3.9% to 7.4% for using credit/debit cards.