Casino Payment Providers
Read up on the different casino payment providers here so that you’re fully informed on methods of depositing and withdrawing at your chosen site.
When you become a member of an online casino, it’s expected that you will make a deposit into your account and start playing the games on offer in the lobby. Of course, you need to have the money and a supported payment method to be able to complete this operation. Not all casinos will offer the same types of payment methods for you to make use of, so it’s important to be able to find one that offers your preferred option for this. However, we’re going to take a look through some of the most popular payment methods here, just for you to become accustomed to.
Credit and Debit Cards
The most commonly occurring payment method at online casinos is credit and debit cards – mainly from the Visa and Mastercard brands. These do offer up a quick and convenient way of transferring money into your online casino account, and in today’s world, most people possess a credit or debit card. Some other brands that certain casinos accept include American Express, Diners Club International, Switch, Solo and Maestro.
While credit and debit cards do provide instant deposits, withdrawals to such can take anywhere between three to five days altogether. Additionally, not everyone feels comfortable with entering their card details into an online website. While our recommended casino sites are always licensed, regulated and providing high-quality security, some players still don’t want to input card details into them. In some cases, there may also be transaction fees applied for using credit or debit cards.
It’s true to say that e-wallets have come about as a very convenient and popular alternative for players to use over card payments. With brands like Skrill, PayPal, ecoPayz and Neteller being available at many online casinos, as well as some additional alternatives, there’s plenty of them to select from, too. An e-wallet essentially works as a sort of middleman between you and the casino account. You upload funds to the e-wallet from any supported payment method and then send these funds to your chosen casino to fund your account. This stops your banking details from being exposed to the casino site. E-wallet withdrawals are also usually completed within 24 hours after the approval for such has been given.
While it’s common for e-wallets to provide instant and free deposits and withdrawals to and from your chosen casino, this isn’t really the case for uploading funds to the wallet in the first place. In just about all cases, you’ll have a transaction fee to pay when uploading funds to the wallet and there’s also one to pay if you decide to withdraw money from the wallet back to a card or bank account, for example.
There has been quite the rise in the number of people opting to use cryptocurrencies for depositing and withdrawing purposes at online casinos. This is due to a number of reasons. First of all, they provide instant transactions as far as both depositing and withdrawing are concerned. Additionally, you won’t have to pay any fees for these transactions either. One other thing is that the cryptocurrencies aren’t attached to any central financial institution, so they can’t be blocked by anything like that. This has made cryptocurrencies quite appealing for US players to make use of, as not as many payment methods are usable from the country as from elsewhere.
The main problem that comes with cryptocurrencies, is that not a large number of online platforms support them yet. The number of them allowing such transactions is certainly increasing, but for the time being, it remains as one of the lesser seen payment methods for online casinos.
There are various forms of bank transfers, with many of them being specific to a single country or group of countries. These include options like Sofort, Trustly, Interac Online, iDEAL and multiple others. These companies operate as a middleman between your bank account and the online casino account. As with e-wallets, this stops your banking details being exposed to the casino, making them a safer option to go for than card deposits. Bank transfers will also often allow you to send a higher amount of money to your casino account than many other payment methods.
There’s also the option of using a bank wire transfer, although generally speaking, we’d suggest using this as a very last-ditch effort. Bank wire transfers usually take a lot longer to process through than any other payment method, for both depositing and withdrawing purposes. It’s quite common to find one or more bank transfer options for using at online casinos. Keep in mind that many of these won’t be available for withdrawal purposes, though. So, if you deposit through iDEAL for example, you will have to withdraw through a standard bank transfer in most cases.
If you haven’t heard of the Paysafecard option before, then maybe it’s time for you to introduce yourself to it. This has also become a popular alternative to the card and bank transfer payment methods. Paysafecards have been in operation for a number of years now and they are perhaps the safest form of depositing into your casino account. This is because you simply need to purchase a card from a local outlet and then use the voucher number on it to deposit money into the casino. It’s simple, it’s easy and it keeps your private details…private.
The prime issue with Paysafecard is that it’s almost always not possible to withdraw through it. If it is a possibility, then the withdrawn money will go back to an online wallet. There will then be additional fees to pay if you decide to withdraw that money from the Paysafecard wallet. Additionally, the maximum value of a Paysafecard is about €250, so if you’re looking to deposit more than this, you’ll need to use an alternative method.