It took a while, and it is still in the early stages, but PayPal has finally joined the online casino market and is now appearing inside a host of gambling sites online as a main payment feature. This is our review of PayPal India, where we will be discussing the various PayPal casinos, how PayPal deposits work and other features of Paypal casinos for Indian players.
What is a PayPal casino?
First, a brief history of who PayPal are. The founders of this now famous payment service included a now much younger Elon Musk, before joining the modern-day space race to Mars, back in 1998, Muck had plans of creating a global dominating payment service which succeeded and was bought by eBay in 2002.
PayPal is the second most used payment service in the world. And yet they have only just started to appear in the gambling world, with each new day sprouting a PayPal online casino for players to join.
Now, that there are many new online casinos that use PayPal. Why should you be opting to join them over another payment service? Are PayPal real money games better? Well, that’s not entirely how this works.
So, what is a PayPal Casino? Well, this is obviously an online casino that allows you to use their services whilst you’ve opted to use PayPal as a means of depositing money into your account to play and using PayPal to withdraw the money you win. Beyond these obvious traits, it also becomes about the quality of that payment services that help to make PayPal a more appealing option compared to other services.
Using PayPal is very simple: it works by using an email address, and it can be associated with many payment methods that place money into the PayPal account to then be used to purchase goods and services, in this case, allowing you to join the best casinos in India.
PayPal is a typical e-wallet service on the surface of its business model. It works as a middle-man company that is able to pay on your behalf so that no original banking details are shared. So, PayPal is a prepayment service that went on to replace the necessity of using credit and debit cards online.
The service as a whole is ideal, easy to use, and provides a level of anonymity that boosts personal security. Because of the size of the payment service, PayPal can be used to transfer money globally online, which adds to the vast appeal of its own abilities that have very few restrictions.
Why Use PayPal when Gambling Online in India?
So, why use PayPal altogether? Do you get faster PayPal deposits? Are there live casino PayPal services? And how many PayPal sites in India can you access? Well, there is one big factor that makes PayPal a service that is able to do things most other e-wallet services struggle with, that’s meeting RBI payment policies.
See, in India, nothing is ever simple when it comes to the Gambling Laws and the Bank of India’s interpretation of those laws. The betting market inside India is huge that it goes into the hundreds of billions. The law is strict on gambling with only a few states allowing it but though legal for foreign sites to supply their services, it is illegal for remote businesses to set up their own online casino business.
This is where the grey area of gambling comes into effect when dealing with payment services. The Reserve Bank of India runs a strict monitoring service of all transactions in India. Indian banks are, therefore, instructed to cease transactions that are associated with gambling services and online casinos. But because e-wallets are not bank owned, they become the best alternative service, a loop-hole if you will, to make payments work. However, not all e-wallets meet the standards of the RBI policies, except for one service and that is PayPal. This alone is enough to make PayPal a very credible service for Indian players because it immediately removes any hassle which will come from other alternative services and even major banking services. Your deposits are secured and accepted 100% of the time. Yes, there are Live Casino options that accept PayPal, and the number of casinos accepting PayPal that are on the Indian market are so far at ten.
Enabling PayPal payments in India
Before joining any of the available PayPal casinos where you are able to access PayPal slots, tables, and card games, you first must set up a PayPal account. Creating an account with PayPal is free and very simple to complete and you don’t even need your banking details.
Begin by heading to www.PayPal.com can click on the Sign-Up tab. At this stage, the only information required is your account line, your email, the country you reside in and a password. Once you have created your now new PayPal account, you can deposit money into the service and then transfer that funding into any PayPal casino online.
The first step of this process comes about by linking your credit or debit card to your new PayPal account. Once in place, the service is available to be used. When it comes to signing in with your PayPal, you only need to enter the information once, thereafter you can use your mobile smartphone’s fingerprint authentication to access your PayPal account should you download the app. Security in the process of transferring money is at a level that the casino would never be able to see or access your personal payment data, so everything is 100% protected.
How to Verify your PayPal Account
To be at a stage where you want to be withdrawing your winnings through the PayPal service, you need to have your PayPal account verified, in which, there are four ways for this to be done.
1: Add what is your PAN details to the account. The Details on your PAN cards must match those on your PayPal account so it doesn’t become suspended.
2: The confirmation of your email, which is a process that should be immediately completed once you have formed your new online PayPal India account.
3: The confirmation of your banking details. In accordance with RBI rules, it is mandatory that you link your PAN with that of your original bank account. If you are without, then you must apply for one on the government website at India.gov.in
4: The purpose code which is a default setting with regards to the nature of your business for which you would be receiving money.
Once complete you now have coverage over both PayPal deposits and withdrawals.
Major Banks in India that Deal with PayPal
So, what services are available to help put funding into your PayPal account that will enable you to join PayPal sites in India?
Here is a list of banks that will help to complete your PayPal deposits so that you can transfer money into your new PayPal online casino.
- State Bank of India (SBI)
- Axis Bank
- Federal Bank
- IDBI Bank
- Indian Bank
- Union Bank of India
- HDFC Bank
- ICICI Bank
- IndusInd Bank
- HSBC Bank
- Standard Chartered Bank
- Indian Overseas Bank
- Kotak Mahindra Bank
- Standard Chartered Bank
- South Indian Bank
- Bank of India
Prices and costs when paying with PayPal India
PayPal India currently has a charge in place that deducts up to 2.5% on the amount of any transaction made. This with an additions 3 INR fixed fee, the payment of 1,000 INR would come to 25 + 3 = 28 INR which would be deducted from the 1,000 payment you transferred into your account.
There are international fees that are different, they include the following:
- Up to $3,000 USD – 4.4% + Fixed Fee (based on ongoing currency conversion rates)
- $3,000.01 USD – $10,000 USD – 3.9% + Fixed Fee (based on ongoing currency conversion rates)
- $10,000.01 USD – $100,000 USD – 3.7% + Fixed Fee (based on ongoing currency conversion rates)
- $100,000.01 USD and more – 3.4% + Fixed Fee (based on ongoing currency conversion rates)
All charges are subject to changes in the market rates.
A point of mention and that is PayPal users based in India cannot exceed received payment amounts that go over 10,000 in one single transaction.
In addition, if a withdrawal fails due to any incorrect banking details, the proposed amount is then refunded back into your PayPal account with the implementation of the withdrawal return fee.
Also, in case of a failed withdrawal due to incorrect bank details, the amount is refunded to the PayPal account in exchange for a withdrawal return fee.
In order to meet and comply with the latest GST rates which have been levied by the Government of India, PayPal must now started levying the same set of fees on every user, be it a personal or business account that collects this subsidiary charge.
18% GST is now the applicable fee set against PayPal. A copy of the consolidated invoice is then sent to the user every month. Those users that are classed and registered in the SEZ (Special Economic Zone) unit will find themselves exempt from this tax.
There are some online casinos may decide to charge members a small fee for producing PayPal deposits, though this will not be enshrined in casino law, this is more of a site to site basis.
Should you decide to deposit a payment from your PayPal account, then it’s a very good idea to first check your account for any casino payouts. These costs are often listed on the Deposit page but can often contain information regarding the terms and conditions or frequently asked questions of the casino.
By taking a look at the costs in advance, you will save yourself from any unpleasant surprises. But bear in mind the costs are always low within online casinos that use PayPal.
How to Deposit Rupees to your PayPal Account
When it comes to PayPal deposits, Unfortunately, there is no additional way to top up your PayPal account as Indian rupees are not supported despite the fact that you can play casino games with PayPal. The alternative option, however, is that you can always play online by directly depositing money from any linked card or bank service that is associated with your PayPal.
If you happen to have linked a bank account, this becomes your auto-withdrawal account. Should any balance from your PayPal account be withdrawn this linked service will be the one collecting the money.
You can choose to add up to 8 different bank cards to your PayPal account. Currently, the supported bank cards include Visa, American Express, Discover and MasterCard.
Making casino deposits with PayPal India
Putting money into PayPal sites in India is a very simple table that only requires you to select the banking section of the casino, highlight the payment option of PayPal, and from there, enter the amount you wish to deposit and confirm by entering the PayPal ID and password. In an instant, your casino account is now updated with the new set of funds.
How to make a deposit
Within your PayPal India casino, you will find the option of Banking, here is where you can instantly select the option of making PayPal deposits.
1: Enter the amount you wish to have transferred from your PayPal account into your casino account.
2: Select PayPal as the preferred payment option.
3: Enter your PayPal ID upon request and then enter your password to verify the transaction.
4: Confirm the payment
5: The deposited money will instantly transfer into your casino balance and you can begin playing PayPal slots and games.
Note: Check for any depositing fees that are added to the payment service before you complete the transaction. This way it might be adjustable depending on the site of the payment you are planning to put into your casino account.
Making casino withdrawals with PayPal India
So, how does one action a request for a withdrawal from a PayPal online casino? Well, the process of an online casino PayPal withdrawal is restricted in that you may find that none of the casinos in the Indian market support this service. So, what can you do as a play that has joined one of these online casinos that use PayPal? Well, you will firstly have to set up an alternative online service, preferably an e-wallet one so there is no restrictions from the Indian banks.
PayPal works to counteract money laundering and because of the security checks to make this preventable, you are asked to provide personal information should you try to withdraw large amounts of money from what you won.
If you are new to using PayPal, you may have to endure a 21-day holding period on money whilst verification checks are carried out.
You may also notice that there is a Money on Hold section under your balance if this is the situation.
To comply with the checks, you will have to pass the following requirements:
1: Complete up to 20 transactions with the service with no claim or dispute.
2: Receive a minimum payment of 200 USD.
3: Keep your account in order for a minimum of 60 days.
Once you have passed these requirements you will all additional payments within 24 hours, even minus any fee charges.
PayPal provides users two options with regards to withdrawing player winnings. You can transfer money directly to any linked bank account or credit card service, which takes no longer than three working days. Or, you have the option to withdraw into PayPal and leave the money in this account to use and spend on other online services or to reuse as future depositing funds.
For Indian born players that are now living outside of India and wishing to use the service take note. If your internet server IP address is in the United States or in Canada, you are not eligible to withdraw money back into your PayPal account nor are you able to transfer funds from there to any of your US or Canadian bank accounts. This comes under the order or the UIGEA (Unlawful Gambling Enforcement Act. Fortunately), bear in mind though that not many Indian players are affected by these U.S conditions.
How to make a withdrawal
From your PayPal online casino, you will need to access your Banking or Cash Out page and then follow these steps, which are the same within any online casino PayPal withdrawal process.
1: Select Withdrawal
2: Choose PayPal as your preferred method of payment to process the transaction.
3: Enter the amount of money you wish to put back into your bank account.
4: Enter your PayPal account ID.
5: Confirm the withdrawal and the process is complete.
Note: The amount you can withdraw varies from casino to casino make sure you check the terms and the terms and conditions of any bonus used because they have their own terms when it comes to withdrawing won money from bonus money that has been used. This is known as the wagering requirement and is important to the rules of bonus winning withdrawals.
One of PayPal’s incredibly strong features is its security. PayPal is very careful when it comes to the support of private and sensitive data and this is why the service is now one of the most used in the world because the security around it is exemplary! Million of users around the world make PayPal one of the most reputable services for payments between vendors and services such as online casinos. Many would argue that PayPal is the safest form of payment there is. The system of PayPal offers encryption protection, this is a coding that is put on data that cannot be decoded, you also have an SSL firewall system to block online cyber-attacks, and no personal data is disclosed to third parties.
Why use PayPal to make deposits in India?
There is no argument that PayPal is a giant among online payment services. The service provides the safest form of deposit and online casino PayPal withdrawal, where applicable can offer returned winnings in under 48 hours.
The benefits of using PayPal as a deposit service when you are joining your new online Indian casino.
- There is no requirement to keep entering your credit card information each time you wish to form a deposit transaction.
- No card data is ever passed onto the casino from the side of PayPal.
- Using PayPal is entirely free, creating a PayPal is also 100% free.
- Deposits made using PayPal are instantaneous meaning you get o access lottery sites that accept PayPal within a fraction of a second to play and enjoy live casino PayPal services offered by the top sites.
- Deposits through PayPal can also go through automated currency converters and exchange rupees into foreign currencies and vice versa.
- PayPal as a payment tool can be used outside of online casinos and is excepted by near all online businesses and stores.
- PayPal comes with a special feature called PayPal One Touch™. This is activated through your fingerprint authentication that is provided by all modern smartphones and tablets.
The downsides of using Paypal in online casinos
So, what are the cons when looking at the services offer or not offered when it comes to joining and using PayPal casinos?
- Not every casino on the Indian market is able to provide the service of PayPal.
- The withdrawal of winnings, where applicable can take a few working days.
- The process of creating an account is simple but it is by no means a quick feat. Plus, users are required to provide additional IDs, so preparation of this can be time consuming. Though a small price to pay for a lifetime of easy banking thereafter.
- Service charges are never great, and unfortunately they are unavoidable with PayPal. Now, the service itself is free in the transferal of money, the fees come into play when converting the money into a currency that is accepted by PayPal.
Summary - What should I know about PayPal India money transfers?
So, with PayPal you don’t just have online casinos to pick from, the service is universal with many Indian online stores that accept PayPal available via the web.
Though the number of PayPal casinos is currently low, this is because PayPal itself is entering a new market. If you find a suitable site or you wish to join a number of online casinos that use PayPal, then always remember that you will most likely need an alternative withdrawal option to support rupee withdrawals back into your bank account.
The option of a PayPal casino mobile service does allow for faster interaction on one device. You can opt to download the PayPal mobile app which like many online casino apps can be activated through finger recognition technology.
There are many security benefits that will support you whilst you look to experience PayPal games for real money. You have SSL software protection and encryption coding that secures all sensitive data.
PayPal India frequently asked questions
Is it possible to use PayPal in India?
Yes. PayPal is a global banking service and was opened on the Indian market back in 2018. The service has over 325 million active accounts making it the second largest payment service on the planet. For players in India, you are able to make cross-border payment and rupees can be auto-converted into other currencies as and when required.
Which casinos in India accept PayPal?
Please refer to the list of sites offered within this article. Each site is carefully reviewed so you can learn more about their services and features. Note that all PayPal casinos come with a welcome bonus offer for new members only.
How can you get in touch with customer support for PayPal India?
There are a number of ways that you can contact customer support if help and assistance is required. Players in India can contact customer support via phone or through email. PayPal offers an FAQ feature on their website that can help you to learn of common issues that are experienced and answers to minor issues.
What are PayPal India’s Minimum and maximum Deposit Amounts?
The minimum amount that can be deposited into your PayPal account is the equivalent of 1.00 USD. The largest amount is 10,000 USD. However, you must note that casinos have their own payment limits that you will need to check before you deposit money into your casino account.
What are PayPal India’s minimum and maximum withdrawal Amounts?
The minimum amount that can be withdraw from your PayPal account is the equivalent of 1.00 USD. The largest amount is 10,000 USD. However, you must note that casinos have their own payment limits that you will need to check before you withdraw winnings from their end.