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How to Choose Online Casino Payment Method
- March 26, 2019 By Riley Wilson -
If you want to win real-money prizes while playing casino games, you need to invest real cash. Today, online casinos support a wide array of banking options you can use to fund your casino account and withdraw from it. Choosing a perfect one can be a bit overwhelming when you are new to this form of entertainment though. That’s why we have created a guide that will help you choose an online casino payment method that will suit you best.
It’s All about Safety
When real money is involved, safety should be your number one priority. By selecting a reputable gaming establishment holding a proper licence issued by a trustworthy gaming body, you make sure that your sensitive data and funds will be fully protected. However, there are some payment methods that provide you with a higher level of security than others. What do we mean by that?
When you use your credit or debit card to make deposits and withdrawals, you have to reveal your card number to the gambling site of your choice. We don’t say that by doing this your data will be compromised, but it is a fact that your credit card number will be exposed to the casino. The same goes for bank transfers that require providing the casino with your banking account number. On the other hand, when using an e-wallet like Neteller or PayPal, all your transactions will be carried out externally. Your e-wallet will serve as a link between you and the casino, meaning that you don’t reveal your card or banking account number to it.
Can You Make Both Deposits and Withdrawals?
This is another aspect you should consider when choosing a perfect banking option. There are numerous deposit-only banking solutions which you cannot use to clear your winnings from your casino account. If you don’t want to bother yourself with making payments to the casino with one and using another banking option to clear your winnings, check out which of them allow you to complete both types of transactions.
For instance, PaySafeCard is a secure payment method using a 16-digit security code that allows you to make quick and secure deposits. However, you cannot use it to cash out your winnings. The same applies to Pay by Mobile methods. Some of the methods you can use for both deposits and withdrawals are e-wallets, credit and debit cards or bank and wire transfers.
Fees and Timeframes
We all want to get our money as fast as possible and free of unnecessary costs. Before you choose a payment method, you should always refer to the dedicated page on the casino’s website and check out fees and timeframes first. In most cases, sending your funds to the casino and withdrawing them is free of any additional costs, but this may vary from casino to casino.
Another thing you should check out is the time needed for a transaction to be processed. E-wallets are by far the fastest when it comes to withdrawals with your funds transferred almost immediately. However, when withdrawing your money from your e-wallet to your credit or debit card or a banking account, it may take up to a week. As for e-wallets, you should also keep in mind that transferring your funds from them to your card or banking account comes at certain fees. That’s why it is important to check out fees on the payment service provider website. Furthermore, at some casinos, deposits made via Neteller and Skrill will not qualify you for a welcome bonus.
Few More Things to Remember
Before you choose an online casino payment method, you should always read the terms and conditions first. That’s where you will find all about deposit and withdrawal limits and accepted currencies. Not all payment methods allow you to make your transactions in all currencies accepted by the casino. Before you make a withdrawal, you will be required to provide some documents to prove your identity as well. If you want to learn more about some of the most popular banking options available at trusted online casinos, visit our dedicated page where they are listed and reviewed.