You use your bank account to fund your eWallet and in turn you use it to fund your casino account so you have a secure buffer...
Popular online casino payment methods:
The Key Questions to Ask About Casino Payments
When determining whether your banking experience at a casino will be smooth, there are four important questions to ask:
Couple playing casino table gamesCan I deposit using my preferred payment method?
Can I withdraw winnings with the same payment method I use for my deposits?
Is there a minimum deposit amount for my payment method?
How long does it take for money deposited using my payment method to arrive in my casino account?
You’ll find the answers by visiting a casino’s homepage and clicking through to the “Banking” or “Cashier” pages.
Types of Online Casino Payment Methods
The payment methods you’ll be offered can likewise be broken down into four categories: credit and debit cards, bank transfer, eWallets, and prepaid cards and vouchers. Each has its pluses and minuses.
Credit and Debit Cards
MasterCard, Visa, and Maestro cards are accepted by almost all online casinos. The advantages of credit or debit cards are that the transaction is usually processed within a few minutes, and that major card providers already have well-established reputations for integrity and security. A potential disadvantage, depending on your circumstances, is that payments to an online casino may show up on your bills.
Some casinos will allow you to transfer money directly from your bank account. An online facility may be available for this, but for some casinos you might have to go to your bank in person to make the payment – an obvious disadvantage. You may also not wish the casino to have access to your bank details. Bank transfers can take several days to process too.
Also known as digital wallets, eWallets like PayPal and Skrill (Moneybookers) are popular payment methods among online casino users. There are several reasons why:
Money and CoinsYou use your bank account or credit/debit card to fund your eWallet, and your eWallet to fund your casino account. This creates a secure buffer between your personal financial information and the casino.
Lots of casinos want you to pay by eWallet, and encourage you to do so by offering 10% or even 15% deposit match bonuses on eWallet payments.
Prepaid Cards and Vouchers
Prepaid methods such as Paysafecard and Ukash are also accepted by many online casinos. These may be suitable for players who need to convert cash to online money, but generally speaking, eWallets are faster to use and more convenient.