Fees for PayPal Deposits and Withdrawals
To discuss fees, we need to bear in mind the difference between the fees charged by PayPal for deposits and withdrawals, and those charged by the casino site.
From the PayPal casino’s side, deposits are usually free, but this varies from site to site. Some may charge a “deposit fee”, but this is rare. For withdrawals, many casinos do not charge any fees either when you use PayPal, although you may find exceptions.
In the US, PayPal will not charge you anything when you’re using your existing account balance or an electronic funds transfer from a bank account. When you deposit cash as a personal payment via debit or credit card, there is a 2.9% fee + $0.30 of the total amount sent.
When it comes to withdrawals, charges may apply depending on where you withdraw your PayPal funds to. Once you have your casino winnings in your PayPal account, you can choose to send them to a bank account or debit card, two of the most preferred options for withdrawals. Depending on your location, PayPal does not charge a fee to transfer funds to your linked bank account. This applies, for example, to Australia and bank accounts in AUD.
To send money to a USD denominated bank account, there’s a fee of 2.5% of the transfer value. If you need to convert the currency of your funds to do this, currency conversion fees will apply too. For debit card withdrawals, you’ll pay a fee of 2% of the value of the withdrawal, with minimum and maximum amounts set by currency. On the plus side, withdrawals to your debit card are quick. Bank account withdrawals take at least one business day.
As you can see, some of these fees from PayPal’s end can take quite the chunk off your casino winnings, and this is why some players will prefer other payment methods. Fees may change depending on the jurisdiction or country you’re gambling from, so always check the PayPal charges you may need to deal with before depositing and withdrawing money at an online casino.
Not sure whether you want to withdraw money to your credit card, open an account with an e-wallet, or deposit with Bitcoin? We recommend you check out our guide to?online casino payment methods.