Want to Make Payments as Swiftly and Securely as Possible? Read our Guide to the Best Casino Payment Methods
Our advice to anyone looking for an online casino is to consider payment methods as one of the features that should always be in a list of priorities. Unfortunately, many new casino players don’t place banking options very high on their list and it’s only when there are problems that they wish it had been given greater importance. Being able to make deposits and withdrawals swiftly and securely is an important part of playing online casino games. Unless of course you’re always going to be playing demo games. Spend any time reading customer reviews and you’ll find a large number of disgruntled players moaning about problems with making payments. Hence we’re writing this guide because we all appreciate how important it is. You won’t be able to play any games until you’ve funded your account. And when you’ve played a while and had a few wins you want to be able to get at your winnings without any problems. Casinos accept a wide range of online casino payment methods, but there are also a number of rules you need to follow. These are all clearly laid out in the terms and conditions, which can often be very long-winded and therefore not the most interesting of reads. It’s no wonder players choose not to read them and just tick a box to say they have. But this ends up being just the beginning of a huge amount of problems. If you fail to comply with the terms and conditions it’ll be impossible to withdraw any of your funds or any of your winnings. When you read between the lines of the many customer complaints a common thread seems to be the fact that the terms and conditions weren’t met. You’ve already made a good decision by visiting our site and reading the information we’ve chosen to share. Stick with us because there’s a lot more to come. But for now keep reading because we’ll be introducing some of the individual payment methods that are generally accepted, as well as imparting some words of advice. We’ll look at some of the more typical payment terms and conditions, so you’ve got a better idea of what to expect. However, you’ll still need to read the terms and conditions at any site you’re considering because they all have their own set of rules for players to follow. Before we look at the different methods let’s consider security as this is important when it comes to making payments online.
Are online casino banking options safe and secure?
We’ve made sure that the payment methods we’ll be introducing are all safe and secure. The online casino payment options we’ve chosen to feature all place safety and security at the top of their list of priorities. There are a number of different methods these payment providers use to ensure the payments made and the financial information is protected. Credit card companies, for example, use insurance and fraud prevention protection, While Paysafecard uses a 16 digit security keychain. These methods and the others we feature are the ones that value and protect your information and thereby reduce the risk of fraud, theft or bad service. Making an online casino payment at a site that is licensed and regulated is also a good choice to make as it will be an operator that has spent time and effort ensuring the right kind of security protocols are in place. It’s also part of the requirements of recognised regulatory bodies for there to be secure systems in place for moving money around. And if there weren’t any then the site wouldn’t have been issued with a license. Part of the licensing requirements also relate to keeping customer details safe and secure. Along with having available funds to pay out all wagers. And for customer funds to be kept in separate accounts so they can’t be used for day to day running expenses. Choosing a licensed and regulated online casino is therefore the best option if you want to keep your funds and personal information safe and secure.
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The most popular casino banking options
When it comes to making payments at an online casino, your options will generally fall into one of a few different categories. These are bank transfers, debit and credit cards, prepaid cards, instant payment services and e-wallets. You may understand what many of them entail, but let’s look at them all in a little more detail, to help you decide which is the best.
This is the most simple form of payment for funding an account or for making withdrawals. It usually costs nothing extra and the funds are transferred directly between your bank account and the bank account of the casino. There are no middle-men involved, but it has become less popular recently with the introduction of other third-party payment methods. This is because they can offer anonymity with none of your personal details being shared. Whereas making a payment by bank transfer means you have to provide you own personal bank account details. There are three different methods of making this type of payment. A bank wire transfer, an instant bank transfer and the old-fashioned way of writing a check.
The most popular of these are Visa, Visa Electron, MasterCard and Maestro. Debit cards are connected to your bank account and funds in your account are used for making payments. Transfers tend to be instant and there are usually no extra fees.
Credit cards work a little differently to debit cards because they aren’t directly connected to a particular bank account. The most popular cards are Visa, MasterCard, Maestro, American Express and Discover. Basically, it’s a loan offered by many different banks and financial service providers. A loan that you have to pay back when you receive your monthly statement or you’ll be charged interest on the outstanding amount. When you transfer funds from your credit card you’re borrowing money from your card issuer. If you regularly repay the debt on time then this is a good payment method to use. But if you leave the debt unpaid, or only repay a part of it then using credit cards can be a very expensive method to use. Transfers are generally instant, but you might find certain online casinos charge a little extra for this method of online casino payment.
This has become a very popular online casino payment method and the most popular cards are Paysafecard and Entropay. They work in much the same way as a debit card payment, but instead of withdrawing funds from a bank account you top the card up with funds before it’s used. This is a great casino banking option if you want to keep a tight rein on your finances because you can easily keep track of what you’re spending. The prepaid card can be a physical one that you hold in your hand or can be a virtual one that you only use online. On the whole, transfers are instant, but you can find yourself being charged additional fees depending on the provider. It’s very rare that an online casino will charge for this method.
Instant payment services
This is another online casino banking option that has become very popular because you are in effect putting another security barrier between the casino and your bank account. Examples of this type of casino payment method are Instadebit, Click2Pay and ClickandBuy. You will need to create an account with the instant payment provider and give your bank account details. All you have to do to make payments is use your login and password. Transactions tend to be instant and will be free most of the time, but be aware that some may apply a small transaction fee.
This online casino payment method is a combination of instant payment services and prepaid cards. They are all a little different in the way that they work. To make an online casino payment you might have to provide your account details, login to pay or simply have the provider debit your account and make the payment on your behalf. It’s also possible that you’ll have to transfer funds to your e-wallet account before you use it. Examples of this type of casino payment method are Neteller, Skrill, WebMoney, PayPal or EcoPayz. This type of payment method is considered to be very secure as most will have their own security working alongside the casinos. There will also be dispute resolution services and associated protection policies provided. Fees vary depending on the provider, but casinos tend not to charge extra for using this method.
When it comes to making online casino payments the method you choose is more of a personal choice rather than anything else. They all have different advantages and disadvantages and are all secure in their own way. Some tend to be much slower than others, as in bank transfers. And some might be easier to use. The important factor to bear in mind when choosing an online casino is to make sure you’ve got lots of choice.
The devil’s in the detail when it comes to making withdrawals
We’d like to finish this brief guide with a cautionary tale. We’ll be looking at some of the different payment methods in much more detail on some of our other pages. But to wrap up this section we’ll look at one small point that always crops up in the terms and conditions and is one thing that players are often unhappy about. When it comes to making withdrawals you may be asked to verify your identity on a number of occasions. We’ve got to agree that it can be a little inconvenient. After all, you’ve already signed in to your account so why do you need to prove who you are. The casino only has your best interests at heart and this requirement is actually an industry wide one and is in place to comply with licensing requirements. And let’s face it wouldn’t you rather the casino made sure the money was being paid into the right hands. Requiring proof of identity is also part of criminal law. The casino is perfectly within their rights to hold onto your money if you can’t prove you are who you say you are, where you live and that you’re old enough to be gambling in the first place. So when you’re asked to provide certain documentation don’t get all shirty and refuse to provide it because you’ll end up with nothing at all, and not a legal leg to stand on either. And anyway, it’s highly unlikely you’ll be asked to provide the information every time. But be prepared to do it every now and again.
Now you’ve got some of the important information stored in your head you’re ready to take the next step. We’re pretty sure you should have far fewer problems now you’ve got the knowledge needed to make those all important online casino payments. Whatever method you choose for making payments don’t make any compromises. It’s yourmoney at the end of the day and you’ve got the right to spend it how you want to. But be sensible and don’t get carried away. Many online casinos have systems in place to help you manage your money. For example, it’s possible to set limits on your deposits and withdrawals to prevent you from losing it all or getting into debt. There are thousands of different casinos to choose from and we’ll be writing reviews about some of the best of them. When it comes to picking an online casino for yourself, choose one that ticks all your boxes. But make sure banking options is one of them. We hope you enjoy playing at your chosen online casino as much as we enjoy playing at ours. Online casinos can be a way of earning a little extra cash, but are also good places to find entertainment.