After you have finally chosen a reliable online casino, choosing one of the available online casino payment methods is the only prerequisite you have to meet before you start playing. The diversity of payment processors can be confusing, but here are some guidelines to help you make an informed decision. Gone are the days when online casino deposit methods were limited to credit and debit cards. Although these two remain the most common online casino payment methods, players are enabled to choose between a variety of e-wallets and prepaid cards.
When you access the payment options section, you have to look for the following features:
- Sometimes casinos set minimum/ maximum deposit amounts. While minimum deposits requirements are easily met, you might be unhappy with the maximum amount you are allowed to deposit at once.
- The time it takes to make a deposit. Deposits are usually instant unless you choose a cheque or wire transfer option. In this case, it might take up to three days for the transaction to complete.
- Don’t forget to investigate the online casino withdrawal methods. Depending on your country of residence, the variety of withdrawal methods can be limited. Some bank institutions do not process transactions to and from gambling websites. Also, some online payment options (predominantly prepaid cards) do not feature a withdrawal option.
- Although most casinos do not charge a fee for making a deposit/ withdrawal, you should better check that out for a complete peace of mind.
The Best Online Casino Payment Methods
If you are looking for an online casino deposit method that is both fast and secure, you are recommended to get familiar with some of the most widespread payment methods accepted on a global scale. Of course, if your casino of choice targets a specific region, there will be online deposit methods accepted in countries only. Trustly, giropay, moneta.ru, SOFORT, are examples of payment processors available for a limited number of countries. Let’s focus on the most popular casino payment methods and the advantages and disadvantages they go hand in hand with.
Credit & Debit Cards
It goes without saying that VISA and MasterCard-branded debit and credit cards are among the best online casino payment methods. The deposit process itself is fast and simplified. You just have to go to the banking page of your casino of choice and select VISA / MasterCard from the list of available options. You will be prompted to enter your card number as well as the CVV code (CVV code is the combination of three digits on the back of the card). Online casino deposits via debit/credit cards are instant. However, there are a few details to consider before you settle for that method of payment.
If you use a debit card, it means the amount you would like to deposit will be deducted from the available funds in your bank account. If you decide to go for using a credit card, it means you will deposit funds you do not actually have and you will have to pay an interest for that. The other thing worthy of mentioning is that withdrawals take at least three days.
Due to changes in MasterCard’s policy, you may not be allowed to withdraw your winnings to a MasterCard. Last but not least, most bank institutions charge a fee for processing your withdrawal.
E-wallets have become a fast, convenient and inexpensive online casino deposit method. In general, e-wallets work in the following manner. You create an account, and you have to link a credit/ debit card to it. Then, you are enabled to upload funds from your card to your e-wallet and vice versa. E-wallets are believed to be among the most secure online casino payment methods because you do not reveal your banking details. The merchant (online casino) can see only your names and the transaction ID.
The first association you make upon mentioning an e-wallet is PayPal. The latter became one of the most popular online casino payment methods, and more and more casinos add it to the list of available deposit and online casino withdraw methods. PayPal enables you to shop online, pay utility bills, and send money to friends living on the other side of the globe in a few minutes. All you need is the e-mail the receiver has used for registering at PayPal.
However, before you are enabled to use PayPal as an online casino payment method, you have to go through a verification process. As soon as you create your PayPal account, you will have to link a credit/ debit card. A small amount of money will be deducted from your funds. Then, you have to wait a few days and check your bank statement to find a 4-digit code generated for verification purposes.
Once you enter this code into the required field, your card will be verified and the deducted amount refunded within 24 hours. You can freely upload funds from your credit/ debit card to your e-wallet, but you are likely to encounter difficulties when it comes to withdrawing funds from PayPal to your MasterCard. PayPal is undoubtedly one of the best casino payment options, but on the downside, the imposed withdrawal fees are a bit high.
Formerly known as Moneybookers, Skrill is an inseparable component of the trouble-free online casino deposit and online casino withdraw methods. It works on the same principle as PayPal, and it is a widely accepted online casino payment method. It does not seem to be too popular payment option in the online stores, though.
You will be charged a fixed price for withdrawing funds from your Skrill account to your debit card. However, it takes up to a week for the funds to be transferred to your bank account due to the rigorous checking procedures each transaction request is subject to.
ecoPayz is yet another reliable and convenient online casino deposit and withdrawal method. It enables you to set up an account in several currencies and make fast and secure online payments. As usual, you have to register an account and verify your identity. If you want to use ecoPayz for making purchases in land-based shops, you can request your MasterCard-branded EcoCard. It is used as a standard debit/ credit card, and it gives you the freedom to use your ecoPayz funds wherever MasterCard is accepted. As far as depositing/ withdrawing funds to and from your online casino account are concerned, ecoPayz is a great choice.
If you opt for using your ecoPayz account for making online deposits and withdrawals only, beware of the fees that apply. Depending on your “status”- Classic, Silver, Gold, Platinum or VIP, your transactions are a subject to a different fee. If your status is Classic, withdrawals to your bank account are not allowed.
Neteller is often included in the list of best online casino payment methods for a reason. It ensures fast and secure online payments. Like Skrill, it is not a common payment method for making online purchases, but the good news is the majority of leading and new online casinos accept Neteller as a form of payment, and it is available in more than 180 countries worldwide. As usual, you have to provide your personal and bank details upon registration and go through a verification process. You have a total of three options for funding your Neteller account – credit card, debit card and bank transfer, respectively. When you complete the registration, you will receive your Neteller Secure ID and Neteller Account ID enabling you to use the e-wallet as an casino deposit and withdrawal method. Although Neteller is considered a low-cost payment processor, you have to be informed that you will be charged a fee if you do not make a transaction at least once per every 14 months.
Neteller also offers a prepaid card option – the so-called Net+ card. This is a MasterCard-branded card that has the same features as a standard debit card, but you do not have to share your bank details when you use it for making payments.
Click2Pay is among the online casino payment methods that fall under the category of e-wallets. As soon as you fill in your personal details, you will be required to link your Click2Pay account to a debit/ credit card.
In order to deposit or withdraw funds to and from your casino account, you need your PAN number as well as the ID code generated for you after registration. Deposits are instant, but if you want to transfer funds from your Click2Pay account to the debit/ credit card you have linked, the transaction is likely to take a couple of days.
What sets Click2Pay apart from the other online casino payment methods is the so-called Star Rating. The latter indicates the amount of money you can spend in the next 7 days. Upon establishing your account, you will have a low Star Rating, but the more you use your account, the higher your Star Rating will become.
Online/ Instant Banking
If you, for one reason or another, are not willing to create an account with a certain e-wallet, you can simply opt for online banking. All you are required to do is to choose online banking from the list of casino deposit methods. You will be redirected to your online banking page. The system itself will lead you through the depositing process, and you will have your funds transferred to your online casino account within minutes. To take advantage of that option, you need to check whether your bank processes transactions to gambling websites.
In case you do not use online banking services, and you do not have an e-wallet account, you can simply make a deposit via a wire transfer. The latter is one of the online casino payment methods notorious for being processed too slow. Your funds may appear in your casino account in three days.
Although deposits via checks are considered somehow outdated, some casinos still accept it as a payment method. Depositing funds into your online casino account via check is no different from paying for any other service by using a check. You have to determine the amount you would like to deposit and wait a few days until the transaction is processed. In most cases, checks are not accepted as an online casino withdrawal method.
Players who do not want to share any personal or banking information with the casino, define prepaid cards as the best online casino payment methods. Currently, the most reliable prepaid cards accepted at online casinos are Paysafecard, Ukash and EntroPay. Here are a few details you should be aware of before you make your final decision.
Back in 2015, Ukash and Paysafecard were integrated and now, they act as a single unit. Paysafecard vouchers can be purchased from different stores. When you choose the amount, you are given a PIN in exchange for your money. When you enter your PIN in the required field, the desired amount is instantly transferred into your casino account. As you have already presumed, Paysafecard does not require you to create an account or link a credit/ debit card. Therefore, it is not used as a withdrawal method.
As far as EntroPay is concerned, it requires you to set up an account. The registration is not time-consuming, and you have to enter some basic personal details. You can purchase your prepaid VISA-branded EntroPay card, upload funds to it and use as a regular debit card.
When it comes to using online casino payment methods for certain deposit optoions, you should know that at the time of writing this article, EuroGrand and Winner Casino offer up to a 15% match bonus for using certain payment methods for deposit purposes.
Security – Fraud Prevention
Sad as it may seem, identity thefts and misuses of one’s bank details are not a rarity. In this respect, you have to be cautious when you share personal and banking information with third parties. When it comes to choosing the best casino payment options, you have to take into account not only the fast deposits and withdrawals, but also the security. You may rest assured that the information you share with online casinos is heavily encrypted. In addition, you will be required to send a copy of your ID or driver’s license upon requesting a withdrawal for the first time.
Under no circumstances should you access your banking page from an unsecured network. It is also essential to remember that online casinos would never send an email or call you with the request of sharing your bank information. Last but not least, you are advised to choose a secure password for both your casino account and your e-wallet/ online banking and change it at least once per month.