Banking Methods Available Online Casinos
When you are choosing which casino to play inside, one of the often overlooked areas by punters is that the different banking methods are available at online casinos, both in terms of how many and which ones. This is something you should take very seriously when you are comparing casinos, as there is a big difference between the best and the worst with this.
The best online casinos will offer you multiple payment methods, allowing you to make deposits and withdrawals in a number of different ways. Included in this will be a number of e-wallet payments options, as these are generally the quickest way to receive your money back from the bookmaker. The worst will limit you to just a couple of different payment types, or perhaps worse than that just one. On top of this, they are likely to only offer the slower payment methods if they don’t offer many, which leads to you waiting days to withdraw your funds after a big win, something you don’t want and something that takes the shine off your victory.
You will usually find that all casinos offer you the chance to deposit and withdraw using a credit or debit card, but the bigger and better casinos will add additional payment methods on top of that. They will allow you to use numerous different e-wallet companies, all of which have a record of offering customers a quick way to get to their funds.
Credit / Debit Card Payments
When you are looking at casinos, you will find that pretty much every casino will accept this type of payment. This is what it is a good fall back for punters, as we all have either a credit or a debit card that we can use.
While these cards are a great, quick and easy way to get funds into your account, when it comes to withdrawing them they are not as good. When you withdraw funds to a debit or credit card you require two different companies to approve the transaction and move the money.
The first is the casino themselves, who have to authorise the transaction and release the funds to your bank card. Casinos that offer fast pay-outs have a rule on this where they will release the funds themselves and do their bit within 24 hours of you making the withdrawal. When you are looking for a new casino, you should always look for one that offers quick withdrawal times like this, as you know they are doing their bit to ensure you get your money as fast as possible.
The second is the bank, and this is what often slows down withdrawals to a bank card. If you are putting money back onto your card, then after the casino has sent the money to you, your bank will also need to authorise and accept the payment, which can take a day but could take two or three days. This is what slows down payments when using this method, and it is something you don’t get when you use an e-wallet.
Paypal is probably the most common e-wallet company in the world, and they offer customers a chance to deposit and withdraw funds fast with the casinos that accept them as a payment method. As Paypal is an e-wallet, there is no one else involved in the chain for withdrawals, the only people you are waiting for is the casino you are withdrawing from.
This certainly gives them the speed advantage, and if you are withdrawing via Paypal and your casino is quick at processing, you could have your winnings in a matter of hours. Paypal is used all over the world and accepts and converts money in a huge range of currencies if you are intending to play inside a casino with a different currency to your native one.
Skrill are another big e-wallet company and the advantages they offer to those using them are pretty much the same as those who use Paypal. You get a wallet where your funds go into when the casino sends you a withdrawal, and because this is not with your bank then there are no delays due to checks, the funds will appear with you straight away.
A great addition to the Skrill service is the Skrill 1-Tap feature, which makes your deposits even quicker than ever before. When you deposit for the first time using Skrill with a casino, after entering your deposit amount you will have to log into Skrill to verify the payment. However, when you have linked the two accounts, after that you are able to take advantage of Skrill 1-Tap.
This allows you to simply go onto your casino’s deposit page, type in how much you would like to deposit and complete the transaction with just one click, with no need to log into Skrill once again. If you are looking for the quickest way to deposit then this is likely to be it when you have deposited for the first time so you can take advantage of Skrill 1-Tap.
Another big player in the e-wallet market is Neteller, who are another big name that many people will have heard of. They are very accessible for customers, and with many casinos accepting them as a payment option, you should have no trouble finding a casino that accepts your money this way.
Just like the other e-wallet options, Neteller really comes to the fore when it comes to withdrawing funds. As soon as the funds are released from your casino, which could be a matter of hours if you choose one that deals with payments swiftly, your money will be in your Neteller account. Here you can either transfer it to your own bank, use it to pay for something or top up another account you hold via Neteller if you play inside more than one casino.
Just like other e-wallet payments the other big benefit of using one of them is that you don’t have to disclose your bank card to multiple different casinos. For example, if you have four different casino accounts, instead of them all knowing your bank details, if you deposit using Neteller or another e-wallet payment type then the only information they have is the email address or phone number linked to your e-wallet account, and not your card number.
In a world where we all need to become more aware of who has our details and what we do with them, this is a great additional security measure to use when you are making payments online.
EcoCard / EcoPayz
EcoPayz is not as popular as the e-wallet payment methods listed above, but a number of casinos do accept it and it also has one big benefit to it. This is that alongside opening an e-wallet with them, you can also get yourself a pre-paid debit card, and you can withdraw your winnings onto this card. This means those who don’t have a bank card, or who don’t want to use a bank at all during the process of depositing, withdrawing and playing inside and online casino don’t need to.
To give you an idea of how this works, the first thing you need to do is put money either onto your pre-paid EcoCard or into your EcoPayz account. You can top up in cash in certain countries and outlets if you would like to keep away from banks altogether, or you can add funds to your EcoPayz account using your bank card. Then you use this money to deposit into your casino account. If you are a winner and you want to withdraw, you can withdraw this back to your EcoPayz account. Just like the other e-wallet payment types, EcoPayz benefits from fast withdrawals off your casino.
When the money is in your EcoPayz account you can either use it to spend online elsewhere, transfer back to your bank or you can transfer the money onto your EcoCard. When the money is on the EcoCard you can use this as a pre-paid debit card, allowing you to spend funds and get cash all without using a bank account.
This is a big advantage for some people and while they are not as big as the other players in the e-wallet business, there are a lot of advantages for casino players who are using this service.