PayPal is one of the largest e-wallet services in the world. It allows users to safely transfer funds to and from their accounts, and make withdrawals.
At the time of writing, the number of active PayPal users in Canada amounts to 5.5 million! This is almost 15% of the population. In light of this statistic, we understand the popularity of the service. However, you may question the link between PayPal and online casinos; well, its pretty easy to make the connection. PayPal abides by rigid policies when it comes to the protection of private information; which is a sensitive matter in the online casino industry.
However, due to their stringent policies, only the best online casinos in Canada and the world accept PayPal as a banking solution. Read why below.
PayPal is an American company that was established in 1998 and went public in 2002. The company and its founders, among them Elon Mask, fundamentally believe that access to financial facilities generates opportunity. Thus, their open digital payment platform gives their users confidence to connect and transact. The company has built a solid reputation over the years, and this acts as a huge advantage.
The service is used in more than 200 countries across the globe; it enables users to receive funds in over 100 currencies. As if that wasn’t impressive enough, as a user you can withdraw funds in any of the 56 currencies, they list; plus, hold account balances in close to 25 currencies.
List of Canadian Online Casinos that Accept PayPal
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Using PayPal at an Online Casino
To make use of the PayPal banking solution at an online casino you will need to open a PayPal account. Opening an account is pretty standard, your personal information will be requested, and you will need to verify the information you provide.
After that, you will need to link your account to either your debit account or credit card. You can then proceed to deposit funds into your online casino account. The best part is that the funds will reflect immediately.
Now that we’ve looked at deposits, we will turn our attention to withdrawals. Players are usually very concerned about withdrawals more than deposits, and we understand why. Withdrawals almost certainly include your winnings, and you want to get your cash quickly. Making withdrawals are easy, just provide your online casino with your PayPal username. Sometimes the casino may prompt you for verification documents. You should receive your money shortly after withdrawal!
PayPal is indeed a huge advantage to the online industries. While the advantages outweigh the few disadvantages, we have to mention an important one. By far, the most glaring disadvantage is that the online payment and transfer system is not allowed in all countries. Furthermore, sometimes linking your bank account may take longer than expected.
All the Canadian online casinos featured on CasinosOnline-Canada accept PayPal as safe and secure banking solution.