PayPal Pros and Cons

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The fantastic thing about using PayPal to deposit at an online bingo site is that there really isn’t much that can go wrong.  This is why we are so excited about PayPal; not only do the majority of bingo sites accept this payment method, more and more sites are adding it all the time, and there is rarely a new bingo site that doesn’t offer this treat.  However – it is easy to be so blinded by the perks of PayPal that you may miss the cons.  Though these cons are few and far between, they still exist, and they still have to be considered before you even think about using this payment method.  Let’s have a look at the pros, first:

PayPal Pros

  • It is free – yes, using PayPal is completely 100% free.  Unlike some other accounts that work a lot like PayPal (Neteller, Skrill) that charge you to transfer cash in and out of you digital wallet, PayPal is linked straight to your bank account.  This means that you don’t have to transfer any cash INTO or OUT OF this, and therefor there are no nasty hidden fees!  They don’t even charge an admin fee to use the account, again unlike some other payment methods.
  • It is easy – not only does it take about 5 mins to create your account, the great thing is that after this, you only need your email address and password that you used to create PayPal to deposit at your chosen bingo site.  No more hunting for your card or inputting long numbers.
  • Its secure – PayPal is the most trusted name in payment methods and used by over 500 billion people worldwide; there is good reason for this.  They use security encrypted software of the highest possible quality.  Using PayPal also means that you only ever have to input your private and secure details once and never again, and these details are not even shared with the bingo site you deposit on.
  • You can Cash Out Using PayPal – some secure payment methods like Paysafecard do not allow players to cash out because there is simply no way to do so.  With PayPal, the site simply moves your jackpot into your account (for free) and you can use the cash however you like.
  • You can Keep Track of Deposits –you receive an email telling you what you have used your cash every single time that you deposit using PayPal.  This doesn’t just mean that you can curb your spending – it also means that you will notice if there is anything fishy going on.  PayPal have even now developed a mobile app to help you check your account more frequently and far easier.

PayPal Cons

  • Not ALL Bingo Sites Accept PayPal – this is one of the biggest cons.  Though the use of PayPal as a bingo payment method is most certainly on the rise, some of them don’t actually accept this yet.  This means that if PayPal is your only method of choice and you do not ever wish to divulge your details, you simply won’t be able to play bingo at a site not accepting this method unless you create a Neteller/Skrill account or hunt for a UKash voucher.
  • PayPal Have Fraudsters – just like every other payment method, PayPal is not exempt from ATTEMPTS at fraud. Look out for “phishing” emails that you may receive asking you to divulge your details, because this is most likely someone trying to obtain your details and access your PayPal account.
  • Rules – PayPal have a massive set of rules that you have to follow if you want to use their service. Though this doesn’t necessarily affect people using PayPal to deposit (it is more for the folk using PayPal for business) you need to make sure that you are aware of the rules in order to stop PayPal from shutting down your account.

Don’t miss out, see what Bingo sites accept PayPal as their main payment option.

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