Almost all online retailers accept payments through PayPal’s digital wallet. Several online casinos offering their service in New Zealand also use PayPal to collect deposits or release withdrawals of potential winnings. It functions by allowing clients to send and receive money without the need for a bank account or a credit card. Users can open a PayPal account if they give an email address or a working phone number.
In comparison to other banking and financial options, opening a PayPal account is free, and transaction fees are modest or non-existent. Players can link their PayPal e-wallet to their bank account or credit/debit card after enrolling. This allows them to deposit the necessary amount into their PayPal account for use in online gambling. Players may instantly top up their online casino balances and play for real money after confirming their deposit because transfer processing is instantaneous.
PayPal deposits at online casinos are quick and uncomplicated, so gamblers should have no trouble using this method. You must first log into your online casino account before proceeding to the Cashier/Banking section. You'll be prompted to enter into your PayPal account using your email address and password and confirm the transaction in a pop-up window. The funds will be transferred from your PayPal account to your online casino account after confirmation is received.
Deposits made using PayPal are typically confirmed within minutes, allowing you to place bets and play for real money nearly immediately. On each deposit made via PayPal, casino merchants provide reload bonuses ranging from 10% to 15%.
Withdrawing money from your online casino account is just as simple. After selecting PayPal as your withdrawal method, a pop-up window will appear. It should prompt you to log into your account and enter the amount you desire to send from the casino to your PayPal account. You confirm the withdrawal, and all you have to do now is wait for your chosen casino to check and approve the transaction.
Depending on the casino's unique policy, the withdrawal will be handled within 1 to 3 business days. It is speedier than most withdrawal options which can take up to a week. Online casinos send money by PayPal virtually quickly once your payment gets authorized and the funds have been released from your casino account.
Processing domestic payments are all free with PayPal. Most web-based gambling operators, like other merchants, do not impose fees for PayPal transactions and withdrawals.
However, moving funds from your e-wallet to your bank account or credit card may incur a small cost from PayPal. It is usually 3.4 percent + NZD 0.30, plus any currency translation fees if you choose a different currency.
PayPal charges fees for cross-border transfers, so if you live in a country other than the one where your online casino is, you may have to pay more. How much is determined by the sender's home nation? The PayPal User Agreement includes a detailed if a little complicated, chart that shows you the actual amount of transfer fees you'll have to pay.
Currency conversion costs are also available: They range between 3% and 4%. For players, there are flat fees. The currency in which your transaction is converted determines the exact amount you will be charged.
The minimum single deposit amount is NZD 50, while the highest is NZD 500,000. An NZD 10,000 monthly maximum deposit limit is also in place. If you want to withdraw more than NZD 500 per month through PayPal, you must first authenticate your account.