When joining an online casino, there are several factors to consider. One of the most important ones is the available payment methods. Here are some of the most common banking options that online casinos offer.
Bank cards
A popular method that casino players use is bank cards. The main reason for this is certainly the fact that they are so widespread. That being said, a player should keep in mind that not all operators offer both deposits and withdrawals through this method. In certain cases, only a deposit will be possible while in others, withdrawals will be possible only if the same method was used for the deposit as well. In terms of how long it might take, the transfer should typically be done within a couple of hours, but it taking a couple of days too is not unheard of. Additionally, players should expect there to be a small fee for the transaction. The most common debit and credit cards among players all over the world are Visa and MasterCard.
Visa
Visa is the most popular card on the planet. With that in mind, it’s only normal that it’s also used for online casinos. Using a Visa card makes it easy to deposit money and some casinos don’t even charge a fee – but looking through the T&C to confirm this is recommended. On the other hand, not all casinos use it for withdrawals. Many only allow players that deposited money through Visa to use it to withdraw their winnings.
MasterCard
Another accessible option is MasterCard. This speedy alternative is accepted in fewer casinos than Visa but is still relatively widespread. Transactions are typically processed within a few days, but withdrawals are only possible if money was deposited using the same card.
Bank transfers
As common as bank cards are, they are not available to everyone. People without access to one can still use their bank account to make a deposit. Putting money into a casino account is possible through bank transfers, checks, and Western Union. These types of transactions are typically processed for a while longer.
Bank transfers
If no other alternatives are available, people can also use their bank account to put money into their online casino account. However, this can take up to seven days to be done as it requires identity verification. Moreover, bank fees are usually applied.
Checks
Players can also issue a check if they have no other option. If there is money in the bank account that is linked and all the information is correct, it can take up to a week to be processed.
Western Union
Individuals that opt for Western Union have two options. They can transfer funds on their smartphone or they can go to a local Western Union center where they can fill out some papers for the transfer to be done.
E-wallets
More and more e-wallets are being used all over the world, which is why online casinos are implementing them as well. When playing live casino games, players have the option of many alternatives, but the most common are PayPal, Neteller, and Skrill. Transactions are typically faster than some traditional methods and the fees are smaller.
PayPal
PayPal has more than 200 million users globally. This e-wallet makes it easy to deposit and withdraw money, quickly and safely. There are minimal fees included.
Neteller
Neteller is a good alternative to PayPal. Although it might not be as widespread as the previous option, some casinos don’t impose a fee when using it. All that a player needs to use is a Neteller ID.
Skrill
Another safe and simple option is Skrill. It’s used for both deposits and withdrawals – deposits are instant and withdrawals can take up to 24 hours. There are also commission-free casinos that accept Skrill.
Cryptocurrency
Lastly, cryptocurrency has many uses nowadays so players can also use various kinds of it in online casinos. Even though the most common alternative is still Bitcoin, there are more out there such as Litecoin and Ethereum. In terms of how long the transactions are, in some cases when the amount is low, they are instant. However, they can also take more time if it’s a higher amount. A big advantage that many players like is that there are no fees included. On the other hand, there is the disadvantage of them not being widely available as some casinos don’t accept them yet.
There are many options available to interested players. It’s important to see what the online casino in question offers and then make the best decision, whether it’s a debit card, PayPal, or Bitcoin.