PayPal is a name we can all trust. It has built up a reputation for being one of the internet’s most trusted payment providers over the last 25 years. Admittedly, for large parts of the last decade, PayPal withdrew from the internet casino world for the large part, limiting itself to just a few select casinos operating in countries with nationally-issued licenses. However, it has consistently remained an option for New Zealanders, and that’s what we’re going to look at with our PayPal payment method review here today.
PayPal Explained
PayPal shouldn’t need much of an explanation. It has been around since 1998, and most New Zealanders will already have an account with the payment provider. After all, we use it for shopping online, paying bills and all sorts of subscriptions. Because most casino players already have a PayPal account, the e-wallet a very agreeable and convenient option to deposit.
PayPal is also a dab hand when it comes to withdrawals. PayPal is, of course, an e-wallet, meaning that the most typical way to use it is to fund your e-wallet account using your bank card. However, if you link your e-wallet with your bank account, it is also possible to make payments through PayPal without topping up your account. Instead, the funds will simply be deducted from your bank, even though the transaction is made via PayPal. This has benefits, the most notable of which is ensuring that you don’t need to hand over your bank account details to casinos.
PayPal also has strong two-factor authentication, a mobile gambling app for both iOS and Android users, and, if you’re living in some countries, you can apply for a prepaid PayPal VISA card that is linked to the funds on your PayPal account.
Deposit Process
Paying for products with PayPal should be second nature to you by now. If so, then you’ll know exactly how this step works. Allow us to walk you through the basics if you don’t. Here’s what you need to do:
- Sign into your New Zealand casino and select PayPal from the list of many deposit options available there.
- Enter the amount you want to deposit with PayPal.
- You’ll now be redirected to your PayPal login page, where you can enter your sign-in details and confirm the transaction.
- If you’ve activated 2FA authorisation, then you can add this step, too.
- After confirmation, your PayPal deposit will instantly arrive in your casino account.
Withdrawal Process
PayPal is also a very handy option for New Zealanders at online casinos because it is one of the most trustworthy, rapid withdrawal options you can use to get hold of your winnings. Any NZ casino that supports PayPal deposits should also carry PayPal withdrawals, and here’s how you’ll use the option for those:
- Head to the cashier page, and, this time, select “withdrawals” before choosing PayPal.
- Enter your e-wallet details into the box when provided, along with the amount you wish to withdraw from your NZ casino.
- Again, you’ll be asked to confirm this transaction.
- If you haven’t been through the KYC process yet, it is time to do that.
- If you have cleared the KYC step already, your withdrawal will be processed shortly. After it lands in your PayPal account, you can decide to keep it there or move it on to your bank account.
Fees and Limits
PayPal has fees and limits. However, this regulated and licensed payment provider keeps them low (most of the time). For instance, funding your e-wallet will cost a fixed 2.9% fee. However, you don’t necessarily need to go down this road. If you link your PayPal account with your bank account, then you can simply deposit at casinos using PayPal (as described above) and see the deposit removed from your bank instead. Your casino won’t know any differently because – as far as they can see – you are paying via PayPal.
PayPal is capable of processing New Zealand casino payments that range from $1 to $25,000 in value. However, in reality, most NZ casino sites will have minimum and maximum deposit limits starting at $5/$10 and $2,500 to $5,000, respectively. Similarly, limits will also be in place for withdrawals, although in some cases, the floor and ceiling may be raised to $20/$24 and $10,000, respectively.
Transaction Times
PayPal isn’t the fastest option out there if you need to fund your e-wallet account. It can take 3-4 days to fund your PayPal wallet via a bank transfer. However, as mentioned, you don’t need to do this if you link your card to your e-wallet. Depositing at casinos is a rapid process for New Zealanders, with transactions taking just a few minutes.
Withdrawals can take a touch longer. The best NZ casino sites can process PayPal withdrawals in under 24 hours, although some may take 1-2 days. This, of course, does not include the time spent clearing the KYC step for the first time or any pending periods. Moving winnings on from your PayPal account to your bank can take a further 1-2 business days.
Why Use PayPal at Online Casinos in New Zealand?
There aren’t many reasons why you wouldn’t opt to use PayPal at online casinos in New Zealand. This payment method is trusted the world over, and most of us already have an account, so we don’t need to open new ones. Secondly, PayPal is a mainstay at trusted and certified casinos, and it is suitable for low and high-rollers alike. The fact that it is mobile-friendly, can process payments in NZD, and can be used for deposits and withdrawals are also perks.
Yes, PayPal does come with a few fees, and it isn’t the quickest payment option around. However, both of these are such small complaints compared to the endless list of benefits that PayPal offers New Zealand casino players. We can say with extreme confidence that PayPal is an option that you’ll definitely want to consider when betting online.