If you have ever played with real money in online casinos before, you must have come across some payment providers. Whether you are new to the world of online casinos or have played many times before, it is always a good idea to check the different casino payment methods. Here we explain to you what payment methods are available and what you should know about the different banking options. In today’s new online casinos, you will find countless ways to transfer your money safely. In principle, classic credit cards and often bank transfer are also available for deposits and withdrawals. You can also find e-wallets in almost every casino.
Everything you need to know about Casino Payment methods
Nowadays we have the freedom of making purchases online and paying by various payment methods. There is no need to go to the bank and queue to send the money, and we don’t even have to go shopping anymore. Everything can be done easily online. These days, the possibility of online shopping has opened doors to highly developed online payment platforms, which offer not only fast transactions but also safety and data protection. There are more and more payment methods available for users, with something to suit everyone’s needs. From traditional credit and debit cards to online platforms such as PayPal or cryptocurrencies like Bitcoin. Also, the possibility of online payment has made it easy for casino fans, who are now able to transfer their funds quickly and easily to casinos online and enjoy their favourite games.
Online Casino Sites – Main Payment Methods
Making a transaction these days could not be easier! The only thing you need if you want to send money is to have an Internet connection and funds available in your bank account. The transaction itself can take from a few minutes to a few days, depending on the payment methods used. Therefore, before deciding which payment method you would like to use, it’s important to take a few factors into consideration. If you choose wisely, your life can become very simple and any online transactions will enable you to save your precious time. If you play online, most of the payment options available provide an immediate deposit of funds to your account. Check out all the payment options below to decide which is best for you.
Within 24 hours
Within 24 hours
Within 24 hours
2 – 3 Banking Days
Within 24 hours
Within 24 hours
1 – 3 Days
3 – 5 Banking Days
One of the most important factors for online payment methods is that they provide encryption to keep the customer’s information and data secure. Online entertainment platforms, such as casinos, have always inspired doubt about security. Users were worried that their payment method details would leak to hackers that seek to steal financial information from vulnerable sites. However, with the proper encryption in place, this is not a threat any more and a casino’s customers can make safe transactions online. Before registering with an online casino, it is important to check if the casino has a proper and valid licence.
For the past few years, PayPal has become one of the most convenient and safest ways to make payments and transfers online. It is used in over 200 countries globally. The biggest advantage of using PayPal is the speed of transactions. Making a deposit as well as a withdrawal is almost immediate. A PayPal account links directly to your bank account. However, to make a payment online, you just need to provide an email address. This way, you don’t need to share any bank account information. This is definitely an important factor. Transactions are free of charge, but you need to be careful about the currency as PayPal will charge you extra for currency exchange.
Another alternative for online payments is EcoPayz. With this online platform, you can send, spend and withdraw money worldwide. Opening an account is free and fast. Moreover, you don’t need a bank account or credit check. You have the possibility to top up your account in different ways to suit you, which is one of the biggest benefits. Also, if you wish, you can order a credit card linked to our account to make your shopping even easier wherever you are. However, before registering you should check the contract as there are fees for internal transfers. Another disadvantage is that this payment method can only be used in Europe.
If you are a user of any Apple device such as iPhone, iPad or Apple Watch, you might be interested in the Apple Pay eWallet service. It is a great option as the deposits and any money transfers with ApplePay are instantaneous and also secure because you don’t need to provide any personal details while making the payment. ApplePay is easily accessible on your device and payments can be done by one click or touch. The biggest disadvantage of this payment method is that you need to be an Apple user to have this option and use it for free.
Interac has been a very popular payment method since 1984, mostly in Canada. This platform operates by giving its users an Autodeposit feature. It is available through most Canadian banks, credit unions and other popular financial institutions. Once you have the Autodeposit feature, any money transfers will be done through your bank account automatically, without answering any security question. Pros include a simple process and little to no cost to the client. One of the cons is that there is a maximum transfer amount of CAN$10,000 per 24 hours. Also, if you want to initiate a transaction, you have to log into your bank account first.
iDEAL initially started in the Netherlands and in recent years has been also available for use in other European countries. Using this payment method, especially in online casinos comes with many advantages. The most important is safety as your details are not shared at all. Also, any deposits that you make are instant and also free of any charges. The biggest downside is that the users of iDEAL must have a bank account with a very specific set of banks, which is very limiting. An unfortunate factor for players in online casinos is that withdrawals are not possible, so you need another payout method.
Credit cards are another popular payment method worldwide. The difference between credit cards and debit cards is that credit cards do not link directly to your bank account. The most common credit cards are Visa, Mastercard, American Express and Maestro. The good thing about having a credit card is that any payment or deposit is processed straight away. Unfortunately, there are some drawbacks with credit cards when it comes to withdrawals as you can only receive the amount that you initially deposited. Also, there is some bad news for casino players in the UK, as credit cards have been prohibited for use on gambling websites.
Using your Visa card is one of the easiest methods and well-known in the world of commerce. Transactions are simple, widely accepted and secure. For most of the online casinos, there are no extra charges applied. To make the payments even faster, users have an option to use Visa Checkout, which enables people to make transactions without filling in any personal information. There are a few cons to using a Visa card. You will find that the transactions are slightly slower than eWallet’s for example. Also, withdrawal options and limits should be checked if you are planning to use your Visa card at an online casino.
Making a payment with a Mastercard is very similar to using Visa. Both cards are widely accepted and common in many countries. Any payments with a Mastercard are free of any charges, safe and easy. As Mastercard is a leading payment method, security is the priority, so you don’t have to worry about it. If you play online, deposits are very fast. However, problems might occur when withdrawing your money. Usually, withdrawals to Mastercard take up to 5 working days to arrive in your account. This is a definite disadvantage when compared to faster methods such as PayPal.
Skrill can be a solution for many who want to make online transactions such as money transfers, multi-currency transfers and crypto investing. It also offers the option of a prepaid Mastercard, although this is only available in Europe. Skrill has a user-friendly online platform and operates in over 200 countries and a number of different currencies. It can be used for deposits and withdrawals and is available in an increasing number of online casinos. However, before opening an account with Skrill, have a look at the additional charges. This is the biggest downfall of this platform. Customers are charged extra for international transfers, currency payments, withdrawals and even domestic transfers.
Neteller is another well-known eWallet similar to PayPal and nowadays widely available especially for online casino gamers. It is another payment method that is very safe and secure as it puts the protection of users’ data as a priority. As great as it sounds, if you use it for online games, it is important to check whether you will still be eligible for bonuses when using this payment method. Another thing to note is the fee you might be paying unless you find commission-free casinos. Also, the charge for currency conversion is very high, at over 3%.
Bank transfers have always been the simplest way to make payments or deposit your money into an online betting account. The great thing about bank transfer is that withdrawals can also be easily done via this method too. Most online casinos or other platforms do not charge fees for bank transfer transactions. Unfortunately, bank transfers are not instant and the time you wait to receive your money varies depending on your bank. Usually, it can take between 3-5 working days. If you are not in hurry, this is definitely a great option for you as bank transfers are very reliable and safe.
New Payment Methods for Casinos
In the last few years, apart from eWallets and credit cards, other forms of payment methods have become available and are getting more and more popular. Online players can use two cryptocurrencies, Bitcoin and Ethereum, in most casinos. Moreover, you can see options to pay by phone with deposits being charged to your phone bill at the end of the month. This method is available in many online casinos but not all of them. Therefore, if this is your favourite payment method, check with the casino if they have it in place to avoid disappointment. If you want to know more about these alternatives, have a look at the details below.
Cryptocurrency payment methods are relatively new but are gaining in popularity more and more. This digital asset has been designed to work as a medium of exchange of coin ownership and is a secure method. All cryptocurrency money movements use a “push” payment mechanism, which means that only the owner of the funds can start the process of the transfer. Also in the online world, cryptocurrency payments are becoming common and officially available. However, as this is a new method, many people find it difficult to transfer their mindset into this option.
Bitcoin was the first cryptocurrency and was created in 2009. It enabled its users to make digital currency transfers over the internet, without any in-between parties such as banks or payment platforms. The advantage of using Bitcoin is that it’s easy to cash out and sell Bitcoin if you need money. Also, nowadays, it’s more accessible and very secure. You always know where your money is. However, there are some cons that are important to mention too. The use of Bitcoin is unregulated, which means that you are legally unprotected if anything goes wrong. Also, it has a very limited practical use. You cannot simply use your bitcoin to buy things. You have to convert it to real money first.
Ethereum (ether) and Bitcoin are often compared to each other as cryptocurrencies, but what is important to understand is that these two networks are different with respect to their overall goals. The aim of Bitcoin was to become an alternative to national currencies, Ethereum was created as a platform to facilitate different types of applications via its own currency. Even though ether has not been established as an alternative monetary system, it is still a digital currency that is accepted worldwide on different platforms, including in online casinos. As there are no third parties involved, it is a profitable payment option compared to other currencies or traditional means of payment. However, like Bitcoin, it is unregulated legally.
PAY BY PHONE
Pay by Phone is a great alternative for those who want to stay anonymous and track their expenses in one place. As the name suggests, making a deposit is done through your phone. The main difference between this method and paying with a credit card or eWallet is that the money is taken from your phone bill and not through your bank account. To make this payment you only need your phone. It is very fast and safe. The downside is that deposit caps are usually in place and withdrawals cannot go back to your phone bill, so you need an alternative payout method.
Safest Online Casino Payment Methods
The security of online payments has always been a big worry for online users. From time to time, we hear news about hackers stealing identities, getting to the personal data and using it. Data breaches have become increasingly common. This is why there are many measures in place to protect users. Using a debit card as your payment method always creates a risk that if there is something wrong with your betting site, your details might be stolen and your bank account emptied. Although those websites for online gambling that have the proper encryptions in place, should guarantee your safety, there is still that tiny risk.
Therefore, payment options such as eWallets, cryptocurrencies or Pay by Phone are the safest for dealing with online gaming transactions. Using payment methods where you don’t have to provide any personal details such as bank account number, card expiration date or even your name is the best solution to maintain your safety. Especially nowadays, it is not difficult to find an option suitable for your needs.
Choosing the best payment method is a very important decision and should be made carefully, taking all the factors into consideration. Firstly, if your primary aim for making payments online is connected with online casinos, you should check with your favourite casino what payment methods they allow. Also, in this case, the withdrawal methods offered are also important, so you can receive any winnings. Other factors such as extra fees, transaction time-frame and security should be checked if they are important for you. Have a look below for all the factors to consider when choosing the best payment method for you.
Security of the payment method
Availability at the casino
Additional fees and charges
Speed of transactions
Casino Payment Methods FAQ & Advice
Before registering with any online casino, you should check the casino’s rules, terms of service and reviews to make sure that you are going to be satisfied with playing and depositing there. You don’t want to discover, after winning a nice amount of cash, that your casino doesn’t support your preferred payout method, and you have to find a new one. Check out the most common questions and answers you might have while doing your research, below.
What is the most secure payment method?
When it comes to the most secure payment method, you first need to ensure that the website you use is safe and legitimate. Look for the padlock in the URL. If you have doubts regarding the website, don’t provide any personal information or payment details. Otherwise, using any of the payment methods mentioned above is safe as those providers use the best security measures.
Which online casino accepts PayPal?
Many online casinos now accept PayPal and the number is growing. Especially in the UK, PayPal is one of the most common payment methods. Some of the top online betting sites that accept PayPal are bet365, LeoVegas Sport, Unibet and 888 Sport. When playing at casinos that accept PayPal, you can feel secure as they have an internal policy to partner only with secure casinos.
Which instant withdrawal methods are available at casinos?
The withdrawal policy is very important for players, and you should decide whether it is important to receive your payout straight away, or are you fine with waiting. For instance, with eWallet methods such as PayPal, you will receive your funds almost instantly, while with a debit card, you have to wait a few days. Also, not every payment method works for withdrawals.
What is the fastest withdrawal method?
The fastest withdrawal methods are eWallets. These include methods such as PayPal, Neteller, Skrill and Apple Pay. The transfers are made instantly and arrive in your account immediately in some cases, or within a few hours, in others. These online payment platforms are recommended by many online gamers in many different countries and are constantly gaining popularity.
How long does it take to receive my winnings?
Usually, when playing in online casinos, you can withdraw your funds at any moment you want as long as it is within the terms of service. Depending on your payment method, sometimes it can take an additional few days to clear when the safety of your payout method and your identity has to be verified for security purposes.
With over 5 years of experience within the gambling industry, Alina has decided to dedicate her set of skills to Casinokix. She has great knowledge of online casinos and knows exactly what makes a fair and reputable casino. For the time being, she is responsible for our content production and tries to provide readers with the best information about the casino world. Her professional approach is part of our success story. Currently, Alina is also finishing her Diploma in Journalism.