Casino Banking - Payment Options

Banking

A crucial factor in deciding where and how much you will play with, will depend on how the casino allows you to deposit and withdraw funds. It is in both the casino and the players interests to be able to withdraw and deposit in as many ways as possible, this way if one method of payment or withdrawal fails – you have at least two to three substitutes. Casinos use a number of payment processors in order to do this.

Online Safety

A major concern of the 21st century is online security and this is no exception at online casinos. It is becoming standard to have at least one e-wallet, prepaid card or other option where players do not need to share their credit card details online.  If the casino doesn’t offer any of these, you will probably be able to make bank transfers.

Banking options and swiftness of deposit and withdrawals rate as two of the top reasons considered when choosing which casinos to use. All casinos advertised on this site are 100% dedicated to getting you fast withdrawals and deposits  and will offer you a sufficient number of methods for money transfers.

Credit and Debit Cards

visa icon

Probably the most commonly used method of payment worldwide, outside of cold hard cash are credit and debit cards. The Visa, Visa Electron and Mastercard are accepted at almost all online gambling operators, while cards such as Maestro or American Express are also offered as deposit methods at some.
Many people are nervous about sharing their credit card numbers, but you can take some precautions. If you enjoy playing online casinos, you might also consider keeping one debit card strictly for this purpose and only depositing money into it when you mean to deposit online. This way, you can keep track of your cash flow.

Visa and Visa Electron cards are fast and reliable for both deposits and withdrawals, while Mastercards very often do not receive withdrawals from online casinos, but are always available for deposits. Deposits with credit and debit cards are always instant, while withdrawal processing will come down to the operator, but should usually not take longer than a day or two.

Real Money Score: 5/5

E-Wallets

neteller

The other common method for online casino players are e-wallets. The most popular e-wallets include Skrill, NETeller and PayPal while some smaller e-wallets are also used by players, especially in some countries. Here in New Zealand, PayPal is the preferred e-wallet. PayPal offers you a chance to deposit directly from your e-balance or deposit money from your attached cards, without sharing the card info with the casino operator, which many players appreciate.

Other e-wallets such as Skrill and NETeller also allow you to deposit money from your card into your e-balance and then deposit it to the casinos, risk free. You will not even share the e-wallet password with the casinos, making your money 100% safe. E-wallet deposits are usually instant, while withdrawals may take a day or two to process, depending on the operator.

Real Money Score: 4/5

Bank Wire

poli

Many players, especially those who transfer large amounts of money back and forth, are simply nervous of possible online fraudsters that may come in the form of e-wallets.  In addition, sometimes e-wallets have a low limit and can stop you making larger withdrawals or deposits.
Bank Wire Transfers are a great way for some people to move their money around.

Providing the ultimate security and anonymity, wire transfers are the preferred banking method of many high rollers and high stakes gamblers.  For those who prefer using online bank transfers, many online casinos now allow the use of the POLi payment processor as well.

Wire transfers come with some fees attached you may not have with the other previously mentioned methods, but they also provide much more security and privacy, which can be crucial to some players. When you make a deposit via wire transfer, unlike some other methods, you will have to wait a few days before you can see this money in your casino balance. Withdrawals will take several days as well, but if your privacy and safety are crucial to you, then this method may be the best for you.

Real Money Score: 3.5/5

Prepaid Methods

paysafe

Prepaid cards or vouchers, such as the Paysafecard and uKash are becoming more and more popular in some regions for online banking. The advantages of this type of payment methods are no banking details will be shared anywhere and that you can self-regulate your deposits.
To use Paysafe Card or uKash, you will have to walk down to the nearest reselling point and purchase the actual cards and then use the numbers online to make your deposits. Deposits with these methods are instant, while withdrawals will need to be made using a different banking methods as prepaid cards don’t really work both ways.

Real Money Score: 3.5/5

What To Choose

With such a wide choice of payment methods, players are left with a lot to decide. New Zealanders in particular prefer PayPal over all others although POLi as a payment system in New Zealand is most widely used.

If you have access to none of these options, prepaid vouchers are available from several companies allowing you to use real cash money to buy cards and use these cards to make online deposits.

Conclusion

Each of the payment methods in online casinos has its advantages and disadvantages and the ultimate choice will come down to the player. If you prefer really fast banking credit and debit cards can be used to instantly move your money into a casino. If you prefer to keep your baking details safe, you will want to use an e-wallet in-between and the most distrustful of players may want to use a bank wire transfer to keep as private as possible.

If you have access to none of these options, prepaid vouchers are available from several companies allowing you to use real cash money to buy cards and use these cards to make online deposits. Once you are ready to withdraw, you will usually have to use a methods you used in the past to deposit with. This way casinos make sure no shady business is happening, so if you decide to use a prepaid card, make sure you have another method ready for your withdrawal and make a small deposit from that method as well to let the casinos know you 100% own that method as well.

FAQs

What is most important when it comes to online casino banking?
Most players base their decision where to gamble online on the available methods for depositing and withdrawing funds. Both the players and online casinos benefit from having as many payment methods as possible, making sure if one method fails, there are others. That’s why almost all casinos offer multiple deposit and withdrawal methods.
What should I look for when choosing an online casino?
When players are choosing an online casino where they will invest their time and money, they are looking for as many banking options as possible and for swift deposits and withdrawals. While all casinos advertise as being the fastest when it comes to these matters, players need to choose wisely before signing up at one particular casino.
What banking options do most online casinos offer for deposits and withdrawals?
Almost all casinos offer the following payment methods at their online casinos: credit and debit cards, e-wallets, prepaid methods and bank wire transfers. Players should decide upon one of these depending on which they prefer and the time it takes a particular banking method to deposit and withdraw funds, as not all take the same time to process deposits and especially withdrawals.
Do I have to pay any fees when withdrawing funds?
All withdrawal methods that are supported at casinos come free of paying any fees, except for bank wire transfers. The fees will be displayed on the withdrawal page for players to see before they approve the transaction. Some casinos will charge you fees for certain methods and in certain circumstances, but you’ll usually be notified about these charges ahead of time.
How do I choose the best payment method?
Players will usually decide to go with what they already know, so most players will go with PayPal or another type of an e-wallet, since this is the easiest and sometimes most secure way of sending money. If you do not have access to any of the available options, you can decide to go with prepaid vouchers. They are available at multiple companies and can be safely used to make online deposits, but not for withdrawals.