Casino Payment Methods
Are you ready to plunge into real money gambling? There are loads of payment methods available at online casinos for deposit and withdrawal alike. In this article, you’ll find the major payment methods with corresponding casinos.
The Safety of Online Casino Payment Methods
Online casinos have become an extremely important part of the entertainment sector in numerous countries. One of the main priorities for every casino is taking care of its current players while attracting new players to the site. In order to succeed, they must offer a user-friendly design, a wide selection of games and numerous casino payment methods for withdrawing and depositing funds.
One of the key features for the players is being able to deposit and withdraw funds easily, safely and securely. This is where the banking options by the different online casinos become so important. The majority of players will examine these options carefully before making a commitment. There are a lot of options for withdrawing or depositing money from an online casino. This includes credit and debit cards, eWallets, bank transfers and prepaid cards. Players know when a casino is licensed by a reputable gambling authority they are legitimate.
License and Personal Data
To receive their license, an online casino must prove they are in compliance with the law by undergoing strict auditing measures. The online casino must also abide by certain regulations and rules such as holding the player’s funds securely. Most legitimate online casinos protect the payment information and personal data of their players with 256-bit encryption technology. This ensures all of the player’s casino payment methods and personal information are completely secure. All payments are processed using the highest security measures with all transactions being authenticated.
Depending on the casino payment method, personal information is often not required when making a deposit. Due to the regulations and laws, online casinos must verify the identity of the player prior to processing a withdrawal. This generally includes a copy of their identification, proof of their casino payment method and proof of their current address.
In some cases, the online casino will request a copy of the player’s bank statement. These are just a few of the reasons the players need to be certain their casino payment method is safe and secure from potential hackers and third parties. Knowing everything is secure enables the players to relax and enjoy the games.
The best option for the player is to check which methods of payment the online casino accepts prior to opening a new account.
The Casino Payment Methods
Online casinos accept a wide variety of acceptable methods of payment for withdrawals and deposits. The most popular are described below.
Credit and Debit Cards
Nearly every online casino accepts MasterCard and Visa debit and credit cards. When a player uses a credit card, they will receive a statement from the issuer showing the charges they have made. They are required to either make a minimum payment or pay off the balance in full. A debit card is linked to a source of funding such as a bank account. There must be enough money in the account for their payment to the casino to be authorized.
Some players send money to their online casino account using a bank transfer. Depending on the bank, the funds may be available on the same day or require one to two days for the transaction to complete. The player should check with their bank first to determine if they have a fee for making a bank transfer. The majority of online casinos do not charge players for making a bank transfer.
This is a safe and secure option with transaction records kept by the bank for easy reference. To use this method of payment, the player contacts their bank to initiate the transfer. In most cases, this is accomplished online.
An eWallet is a prepaid online account used for storing funds and making online transactions. The players can make an instant and secure transaction into their online casino account using a smartphone or computer. This is one of the fasted methods of payment the player can use. Funds are transferred through a digital transaction. An eWallet is often referred to as a digital wallet. This is a secure means for storing different types of currency. The player usually finds the eWallet they want to use online.
Once the player has selected their eWallet, they must complete the registration process for either an unverified or a verified eWallet account. The spending limit for verified users is generally higher. This is different than using a credit card because once the player has been authenticated by the online casino, they have full access to the funds in their eWallet. The information for the holder is stored securely and encrypted. To create the account, the player uses a password and username in addition to completing verification by phone or email.
There are eWallets available that store the player’s driver’s license, health cards, insurance cards and loyalty cards just like a regular wallet for added convenience. Due to the popularity of cryptocurrency such as Bitcoin, certain eWallets were created specifically to store this type of digital currency. There are online cryptocurrency casinos that accept different types of cryptocurrency. This is simply a type of digital currency. Unlike traditional money, cryptocurrency only exists online. This kind of eWallet is often referred to as a cryptocurrency wallet.
Skrill is a type of eWallet previously called Moneybookers. This enables players to transfer and receive funds from online casinos. This is one of the most popular eWallets. Skrill has received global recognition for its payment solutions including withdrawals and deposits at online casinos. Skrill is regulated by the FCA. They are also a recognized provider for online payments. All payments made using Skrill are encrypted and use safe servers. This is one of the fastest ways to make a deposit at an online casino. The funds are generally available almost immediately.
A mobile application is available to enable players to use their mobile devices to transfer funds into their online casino account. Skrill does not charge players any fees for transferring funds. Skrill offers a platform requiring one tap and one-click to place funds into an online casino account. This has become extremely popular within the gaming industry.
This is another eWallet enabling the player to receive and send money in multiple currencies. Neteller is one of the most recognized eWallets on the globe. The majority of online casinos accept this type of payment. Using Neteller has numerous advantages over both credit and debit cards. This is an extremely safe method of payment for online casinos. The security is excellent with a team looking for suspicious activity on their accounts 24/7. The eWallet is protected with SSL encryption. This makes a security breach almost impossible. Security can be tightened even further by setting up a two-step authentication process.
Neteller is one of the safest methods for trying out a new online casino. This enables the player to make certain they will receive their winnings when they make a withdrawal. The majority of online casinos are able to process eWallet payments much faster than any of the other available options. Neteller can be used to transfer funds to online casinos all over the world.
PayPal is another popular eWallet accepted by many of the online casinos. Once the player has opened a PayPal account, they can make deposits and withdrawals at an online casino accepting this particular eWallet. The player can link a free account to their email address through the PayPal website. Payments can be made with just a Paypal account and password as opposed to needing to provide financial information to the casino for every transaction. It is important to note PayPal will only allow their customers to have one account each.
The PayPal eWallet can be funded using a desktop computer, an app or a mobile device. All of the player’s information is safe and secure. PayPal does not send the players personal information such as a bank account or credit card number to the online casino. To make certain the transaction is secure the player needs to have a secure connection to the internet. The data servers used by PayPal scan their customer’s browsers constantly to make certain they are current with the latest data encryption technology.
All financial data is secured in an online vault. The level of security used by PayPal includes updated security software, with no public connections used for deposits or withdrawals. This helps eliminate the risk of any personal data falling into the hands of a hacker or being compromised in any way.
A prepaid card is different from a traditional debit card because it is not connected to a bank account. When the player uses a prepaid card, the money must already be on the card. This is referred to as loading money. Once the money on the card has been spent, the player must either put more money on the card or purchase another card. Some cards can be used over and over again while others are purchased for one-time use.
The leading prepaid card for online transactions is Paysafecard. This is a simple and secure way to deposit funds into an online casino account without requiring any personal data at the time of the transaction. The card can be purchased at a wide range of retail outlets, kiosks and shops in many different countries. Depending on the location, Paysafecard is available in different denominations.
Funding the card is simple, fast and performed at the Paysafe site. There is no charge to use this card at an online casino. Funds are immediately transferred into the online casino account. The card is completely secure due to transaction monitoring, cardholder verification using SMS technology and a team dedicated to anti-fraud.
EcoPayz is a prepaid card enabling the player to send funds directly to their online casino account. Opening an account is simple, free, has no setup fees and only requires a few minutes. No credit check or bank account is necessary. EcoPayz offers different options to choose from. Once the player’s account has been established, they can use their card at the majority of online casinos. More than 45 different currencies are available. EcoPayz offers three EcoCards using different currencies or a single virtual card for increased security.
The player’s funds are available instantly. The latest technologies in fraud protection and security are used to ensure transfers to the online casino are secure, safe and fast. EcoPayz places the integrity and security of all personal information first. The financial information for the player is never shared even if the payment is made directly through the online casino. Funds can be received and sent in numerous different currencies. This is one of the more popular methods of payment in many different countries.
UnionPay originated in China in 2002 as a casino payment method. This prepaid card is now one of the most popular in the world. UnionPay is a digital form of payment. The transactions are processed directly by the online casino so funds are usually available immediately. UnionPay is accepted by 51 million merchants in 168 different regions and countries. The card is used in the same way as Mastercard or Visa. The majority of online casinos do not have a fee for using this card. This casino payment method is secure, safe and simple. Once the card has been registered with the online casino, the player should not have to provide any personal information to make a deposit.
The Availability of Different Methods of Payment
It is important to note not every online casino accepts all of the methods of payment described above. Some casinos will accept certain methods for deposits and not withdrawals. The best way to determine which methods are accepted is to check the deposit and withdrawal section for each online casino of interest. The player should be able to find a casino payment method they are familiar with at the majority of online casinos.