Is PayPal still the best electronic payment method in online casinos?

PayPal

Is PayPal still the best electronic payment method in online casinos? Source: shutterstock.com

PayPal is the brand name that is synonymous with online security. It was the original safe way to send and receive money online. It started out in the early days of e-commerce to allow buyers and sellers, at a distance, to not have to use cash. These days it may seem fanciful to think that online banking was distrusted as not being secure. To gain consumer confidence, the banks had to jump through all sorts of hoops, including the Verified by Visa scheme. In the time it took for them to create secure platforms and apps, PayPal moved away from peer-to-peer activity and into the grown-up e-commerce space.

Shoppers expect to see PayPal as an option at check out. A recent survey by the company found that 42% of shoppers said that the payment options offered influenced their decision about where to shop online. The same is true when looking at behavior at online casinos. There are many reasons to use PayPal at real money casinos. The safety features are an inbuilt element of the platform, and this payment method also allows deposits and withdrawals.

In recent years many challenger digital wallets and payment options have been developed. As well as using your debit/credit/charge card at many online casinos, other options are available. The question is, is PayPal still the best and what are the advantages and disadvantages of the contenders.

PayPal Advantages

The best PayPal casinos offer some of the US’s fastest deposit and withdrawal times. In addition, you can use this service for all games, including slots, and ensure that your transactions are safe. While many casinos accept PayPal, it is essential to check out that the one you are thinking of has a decent reputation and is certified as complying with security and fair play rules. Unfortunately, there are still some casinos in the US that do not accept this method of payment, but if they do, it could be a wise choice of payment wallet.

Using Debit / Credit or Charge Cards

If you are thinking of using your payment card, be that Visa, Mastercard, or American Express, there are a few things to bear in mind. Amex has been around since the 19th century, but there are not many 21st-century casinos that accept it. This is often to do with the high charges for the merchant.

Mastercard and Visa can both be used at a number of online casinos, but withdrawing your winnings or deposit can be slow and challenging. You can only withdraw using these cards if you used the card for the original deposit. Casinos can take several days to deposit the money back to your card. Players might also find it harder to set a budget limit if they play online with full access to all their funding options.

Can you use Neteller in US Casinos?

Neteller is an e-wallet service that was founded in 1999 in Canada. It was designed to offer secure, fast, and free transfers. However, it is not US-friendly, and despite the ‘free’ claim, it actually attracts a fee. While it is used around the globe, there are very few online casinos in the US that accept it without requesting a commission. The advantage to the user is that the only information you share is your Neteller ID. It is swift and secure, and millions of people from over 150 countries use this payment service.

Skrill comes with rewards

Another e-wallet option is Skrill which is safe to use and incredibly simple. The downside is that commission is charged on your transactions. However, it is an acceptable payment method for deposits and withdrawals at many online casinos. Having the app installed on your mobile device gives you access to your account and funds at all times. Skrill has the added advantage of offering users a loyalty program called Knect. Every time the service is used, the account holder is rewarded with loyalty points that can be cashed in for rewards. Skrill rewards the user with one point for every $1 transacted. If you want to set yourself a limit on spending, you can get a Skrill Visa Prepaid Card and still earn Knect points using that.

Prepaid Cards

These are becoming increasingly popular as they are safer than using credit or debit cards and allow players to set themselves a budget before visiting the online casino. The two most well-known and popular are Paysafecard and EcoPayz.

Paysafecard

This is one of the most popular prepaid cards in the online gambling industry, and it is highly secure. That all sounds great, but it is not available at USA online casinos. So if you are going to be accessing online casinos when traveling to mainland Europe or the UK, it is a good option but not so good for the US.

EcoPayz

This prepaid card has been around for over twenty years. There is no need for a credit check, and it offers a one-time prepaid card that is similar to a voucher or the ecoCard. The ecoCard is a reusable prepaid card that users can top up to their required budget limit.

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