Guide to PayPal: How It Works
Welcome back to our Guide to PayPal! If you've missed it so far, take a look at our Introduction to catch up on what we've got in store for you. So far, we've given shown you how PayPal got to be the giant it is, in our Brief History, and today we'll be explaining the steps which make up the process of using PayPal. We've compiled it all into a handy flow chart, so follow the steps and you should be well on your way to being a dab hand at using PayPal.
As you can see, using /paypal is a fairly simple process. Registering at paypal.com will allow you access to your account and from there you can manage it from your computer, phone or tablet.
PayPal Keeps Your Pennies Safe
The funding source you provide will be where the money comes from in all the PayPal transactions you make. As we talked about in our introduction, the benefit of PayPal is that it keeps all your details private from online retailers and casinos.
This means that when you pay for goods or deposit money into casinos, the seller/casino will never have access to your bank account or card details. PayPal acts as a middle man and keeps all that data private for you.
The one part that might seem a bit confusing is the 'verification' process. Any unverified accounts are still functional, however PayPal will impose a limit on your spending, receiving and withdrawing of money. If you're not dealing with a lot of money, it's fine to carry on using your account unverified, however if you wish to process a lot of money using your account, you may need to lift these restrictions.
You Need to Verify Your Bank Account
To do so, you need to log in to your account on paypal.com. Here, you will see a wheel which shows you the percentage of how 'complete' your account is. Most unverified accounts will hit around 60%, and to become verified you need to complete the remaining steps.
After requesting verification, PayPal will deposit 1p into the bank account that you have linked to your account. The transaction should appear on your statement along side a 4 digit PIN code. You need to enter the PIN code into the space provided on your account homepage.
From there you should be set, go forth and deposit! Most major casinos accept PayPal as a depositing method, so you shouldn't struggle to find somewhere to put your account into action. It really is that easy and safe. In our next article we'll be looking at how the PayPal app works and what benefits there is to using PayPal on your mobile.