Paypal is a service that was established in late 1998 under the name “Confinity” by Luke Nosek, Peter Thiel, and Max Levchin. In 2000, Confinity merged with Elon Musk’s X.com online banking company after Elon Musk spotted the potential for making online money transfers. In fact, he was so sure of the service’s success that he changed X.com’s direction to focus purely on Paypal.
In 2002, Paypal was bought by eBay for $1.5 billion, and by 2010, the service had more than 100 million active users.
Today, the company continues to provide both personal customers and businesses around the world with secure online payments services that can be used instead of more traditional payment methods such as money orders and cheques.
Much of the company’s revenues come from premium features for businesses such as password memory and one-click transactions, as well as (in some cases) conversion rates and withdrawal fees.
Customers can currently send, receive, and hold funds in 25 different currencies.
Why should I use Paypal bingo sites?
For starters, Paypal allows you to make instant money transfers. So, when you’re playing online bingo, you won’t have to wait more than a few seconds for your deposit to hit your account.
The service also lets you receive your winnings more quickly than a bank transfer or a debit card does.
However, when you submit a withdrawal request to your chosen bingo site, it will be subject to the operator’s withdrawal processing times, so you will need to factor this in to the overall time that it takes to receive your funds.
Another attraction of this popular e-wallet system is the peace of mind that it gives users due to its high levels of security.
Unlike with debit cards, you don’t need to share any of your financial information with your chosen bingo site. Plus, Paypal only works with companies and online gambling operators that it believes are trustworthy and legally compliant.
The e-wallet provider can also assist with seller/buyer disagreements through its Resolution Centre.
Furthermore, it provides 24/7 customer support via live chat, email, and telephone.
Personal customers can open a Paypal account cost-free, and once open, you can use it to fund your online bingo accounts, as well as pay for other goods and services, and transfer money to or receive money from your family and friends.
Are Paypal bingo sites safe to play at?
The operators behind the online bingo sites that use Paypal have been vetted by Paypal. Plus, if you choose to join one of the recommended sites that feature on our website, you can be sure that they are also licenced and regulated by the UK Gambling Commission (UKGC).
How do I make a deposit?
Making a deposit using Paypal at an online bingo site couldn’t be easier, and you’ll need to start by creating an account and follow the steps below:
Visit the Paypal website using your laptop, desktop or mobile and open a personal account;
Follow the instructions on your screen to complete the registration process. For example, you’ll be asked to provide your full name, address, and date of birth;
Check your inbox for the verification email and click the link provided to complete your account set-up;
Decide which payment method you wish to use for your Paypal account such as a UK bank account or a debit card;
Log-in to your preferred online bingo site and open the banking page, then click on the Paypal icon to select it, and make your deposit.
Can I use Paypal if I’m playing with a mobile device?
The majority of UK bingo sites support mobile customers through either dedicated mobile apps or mobile-optimised websites.
Provided that you have a Paypal account, you should have no issues at all. However, you may find it easier to make withdrawals and deposits if you have the Paypal mobile app installed on your device.
This will allow you to keep track of your payments and make fast withdrawals wherever you go. The system also allows you to link your phone number to your e-wallet account for extra levels of protection.
Are there any other e-wallets that I can use?
There are several alternatives to Paypal. For e-wallets, the options include Neteller and Skrill, both of which operate in a very similar way to Paypal. You can also use secure physical cards (e.g. Paysafecard) which come with a unique PIN that you enter into the bingo site’s cashier when making a deposit.
