Can I Use Paypal Credit at Online Casino?
Depositing money for wagers and cashing out winnings safely is a major concern for players. Thanks to PayPal and other e-wallet options, you can transact conveniently. But can you still fund your account when your account is running low? Well, PayPal lets you send money to your account with PayPal credit which you can pay back later.
Have you never heard of it before? We’ll review what PayPal credit is and how to use it.
What is PayPal Credit?
Like overdrafts from banks, PayPal credit facilitates purchases and online payments when your account runs low. With PayPal credit, you can send money to your online casino account and pay it back later to cover the credit line.
PayPal Credit is an available overdraft facilitation service backed by Synchrony bank. As an above-board program, there are well-laid guidelines on how this credit works.
How Does PayPal Credit Work?
All financial services have to have clear operating procedures. Similarly, PayPal credit works within well-laid-out guidelines to help players use PayPal as a payment option in online casinos. You must apply and wait for a creditworthiness valuation to get credit line facilitation.
How to Apply for PayPal Credit
If you play at a PayPal casino, you can apply for PayPal credit to deposit cash for wagers in your favourite casino, even when running low. To start using the credit line:
- Search PayPal credit in your browser to open the service page.
- Click the “Apply Now” button on the PayPal credit banner.
- Complete the two-step verification process to log in to your PayPal account.
- Fill in the pop-up form fields with the relevant details: your date of birth, after-tax income, and the last four digits of your social security number.
After you’ve completed the application form, PayPal will inform you within minutes if you qualify for the credit line. When accepted, you can begin using your PayPal credit to play at your favourite casino.
Using PayPal Credit at Your Online Casino
Using PayPal credit to fund your player’s wallet is similar to the regular PayPal process at a PayPal casino. You only need to tick PayPal credit card as your payment method at the end of your deposit tab in the casino. Easy peasy. All the same, you need to follow the terms and conditions of PayPal credit for successful transactions.
Terms & Conditions of PayPal Credit
You must know and abide by set regulations when using PayPal credit to top up your online casino. Some of the key regulations you should observe include the following:
- PayPal credit charges interest from the day you receive the cash advance until you settle your account.
- This service charges a minimum of $2 in interest for every billing cycle. When you fail to settle your account on time, you attract a penalty of $31 if you have made payments by the due date in the six prior months or $40 if you haven’t settled your account by the due date in the last six months.
- You can only use PayPal credit and PayPal in online casinos licensed in recognized jurisdictions. This means you can’t fund your offshore casino account with this cash advance.
Should I Use PayPal Credit
A convenient credit line has advantages, including extended payment periods during promotions and an easy registration process. However, PayPal credit has its downsides, including high default fees and limitations on local gambling sites.
Kevin Flynn is a lean start-up business consultant, PowerMBA, and Senior Financial Markets Editor at Investors Prism. He lives in Leominster, Massachusetts, with his wife…More info on Kevin Flynn