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PayPal at a Glance
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U.S. Transactions: |
 Yes |
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Fees: |
2.5% currency exchange fee
Up to 4.9% fee for receiving money |
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Operated Since: |
1998 |
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Location: |
United States |
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Funding / Withdrawal Methods: |
Paypal Credit Card
Direct Bank Transfer
Check |
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PayPal Review
PayPal is one of the most versatile online payment systems around. It is accepted at thousands of websites worldwide and offers a personal credit account to members. It can be set up to take money directly from a bank account or charge to credit cards. Not only can purchases be made, but money can be sent and received. By saving your information, PayPal can speed up checkout when making online purchases and help keep track of what you're spending your money on. Also, it is free to sign-up.
PayPal was founded in 1998 and was purchased by eBay in 2002, and were one of the first online payment processors. Since then, they have had over 164 million accounts created worldwide available in 17 different currencies. Their offices are located in San Jose, California. PayPal is not classified as a bank in the United States, though the company is subject to some of the rules and regulations governing the financial industry
While PayPal is a great option for other everyday online purchases, using PayPal to pay for your Internet poker expenses isn't as viable. Very few poker sites utilize PayPal, mainly because they are located in the United States and the UIGEA was passed in 2006. Also, although there are no fees associated with sending money on your Paypal account, there are many other fees you may be charged. This includes a 2.5% currency exchange fee, up to 4.9% fee for receiving money into your account. PayPal can be an easy solution for payment transactions, but it is rare for online poker sites to offer it. |
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