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PayPal is the world’s biggest payment system available in 190 countries and uses 24 currencies. PayPal guarantees safety of online money transactions, financial operations and personal data. Player’s account is insured for $100,000 by SafeWeb Insurance against unauthorized fund withdrawal.

You can registry for free. I advise you to give the same personal data you gave when you opened your credit/debit card.

There are several types of PayPal accounts: Personal Account, Premier Account and Business Account. Personal account is for purchasing. Premier account is for both buying and selling with the personal name. Business account is for buying and selling with the corporate or business name. You can have more than one account.

How to deposit and withdraw
Depositing
payment method fee time period
bank account free (however your bank may take a small fee for transactions) 3-4 business days for your US bank account;
7-9 business days if you are from other country
Withdrawing
payment method fee time period
bank account free up to 9 business days
cheque $1.50 in the US
Sending money
payment method fee time period
PayPal Balance free instantly
Instant Bank Transfer free
eCheque free 5 - 7 working days
credit/debit cards 2.9% of total amount sent + $0.30 per transaction (the sender decides who pays this fee). instantly
Receiving money
payment method fee time period
PayPal Balance free instantly
Instant Bank Transfer
eCheque 5 - 7 working days
credit/debit cards instantly

There is PayPal Buyer Credit, PayPal Plus Credit Card, eBay MasterCard for US account holders. PayPal accepts the following payment methods - American Express, Visa/Delta/Electron, MasterCard/Eurocard, PayPal Access Card, Solo, Maestro.

You can send funds to the recipient’s mobile phone or email. If the recipient doesn’t have a PayPal account he/she should open an account to receive money. If a PayPal account is unverified there is a sending limit. A receiving limit depends on the country you live.

To purchase goods and services is free. Selling wants a certain fee (1.9% to 2.9% + $0.30 for US users, and 1.4% to 3.4% + £0.20 for UK account holders).

Advantages
  • It is very popular and widespread. It is fast and easy to use. When you are purchasing something, all you need is to enter the recipient’s ID. It is safe and trusted. You can make instant payments with the mobile phone.
Disadvantages
  • There is a withdrawal limit. You can withdraw money only in the currency you have registered on your account. PayPal sometimes freezes an account because of a suspicious circumstance. You can’t use PayPal for any gambling activities in the USA.