How to Open a PayPal Account for UK Gambling

casino_468x60
An instant FREE FIVER is yours @ mFortune! Click HERE!

British casino lovers are in a unique position with respect to banking practices. The UK is the only major marketplace that allows PayPal account gambling services to be offered by casinos, which is a testament to how well regulated and organised it is. We want to go over the process of using this secure payment and withdrawal method.

Gambling with PayPal

Using PayPal as a gambler as well as an online consumer is exceptionally convenient, yet because laws must safeguard against fraud there are some concerns to take into account. The process for using the service at casinos is a bit more complicated than for simply buying things on the Web, and the following factors are involved,

Legality in the UK

First of all, a player cannot try to use PayPal from a location that disallows it. If one attempts it, of course, it will either be rejected or serious consequences under anti-fraud laws would be enforced. Fortunately, for British players PayPal is a legal and legitimate service to use for depositing cash into an account bankroll as well as withdrawing cash and winnings.

Anti-Money Laundering Rules

Why are casinos and PayPal careful during the process of giving people this service? The main thing is that criminals have tried to use casino accounts as well as Web-based alternative payment tools as ways to ‘launder’, stash, hide and leverage illegal funds.

Therefore, strict rules are in place that are designed to verify honest users as well as expose criminals. Players who must fulfill these rules and requirements should realise it is for everybody’s safety.

Account Limitations

You may wonder how such limitations could affect you, the ordinary person. The first and foremost way that PayPal gambling could run into obstacles is if a player has not completed their account profiles at the casino and with PayPal. If not, then trying to withdraw funds can be halted or suspended until the proper paperwork has been submitted. The verifications usually have to do with confirming a person’s identity in one of several ways.

Opening an Account

Now, the fun part: how to open a PayPal account quick! Starting to use a PayPal account that you open is as easy as can be, but first you must establish it, which fortunately is also simple. PayPal is famous for its invitations to become a member with an email address alone. That is true for normal consumers, however, if you want to gamble then be prepared to comply with requests that may include:

Pre-requisites

  • Receiving paper mail at a real address (not Post Office boxes)
  • Supplying a traditional bank account
  • Funding your PayPal balance through your bank
  • Submitting documents to prove your legal identity

How to Open

Don’t worry, since PayPal makes opening your new account easy and even fun. In addition to establishing your identity, you will have ways to personalise your membership, use a profile picture and to receive news. The basic steps to get going are:

  1. Go to PayPal.com/uk (or PayPal.co.uk)
  2. Click ‘Sign Up’ at the top right
  3. Supply your email address
  4. Once your account is created, you will be asked to follow more steps …

Whether to Link Your Bank Account

Although PayPal does allow users to transfer funds to each other without service charges, and theoretically you could begin using your account with money received in this way, gambling is different.

As we said above, as soon as you want to withdraw your casino cash or deposit to your bankroll, then the casino and PayPal each will require you to verify your identity and financials. This most certainly will include providing your normal bank information (regardless of whether you plan to transfer cash that way).

When to Make Withdrawals

Okay, you are a PayPal member now, so the question becomes, how and when to make casino withdrawals. What you basically do not want to do is assume that using PayPal with your casino membership will offer the same flexibility and freedom as ordering transactions and moving money with your conventional banking services.

Again, the reason is that gambling and financial authorities are monitoring activities of casino players to catch criminals. Here is a list of recommendations to keep in mind:

  • PayPal and casinos must conduct SARs (suspicious activity reports)
  • The frequency of deposits and withdrawals are examined
  • Limits exist on maximum amounts of cash withdrawn per year
  • Casinos are required to impose restrictions on their free bonuses
  • Since gaming sites can lose licensing, they follow rules closely

Conclusions

So, now we hope you have a better understanding of the fact that while PayPal is exceedingly easy to join and start using, when you begin gambling with it there are a few extra steps to complete. Still, when you put things in perspective, the amount of security, convenience and peace of mind you gain definitely dwarfs any initial time you spend to verify your account!

Pocket Win CasinoPocket Win - get 50 free spins + 100% welcome bonus!