Casino Payment Methods

Online casinos these days provide players with numerous options to transact. While the aim is to be convenient, it can also be overwhelming. Players may ask themselves which casino payment methods are best for depositing and withdrawing. What about any hidden fees from the bank or the online casino? And how long will the transaction take before it’s in the account? Well, how are we supposed to know?

Just kidding. This article will cover the most salient points around recognised online casino payment methods and clarify the best choices you can make when transacting.

Debit Cards

By far, it is the most popular payment method in the world, and it’s easy to see why. Debit cards have been around for many years, and it is the method people use to transact in their daily lives, not just online.

Well-known options include Mastercard, Visa, Diners Club International and American Express. Players will generally need to enter all their card details and additional security measures that may be asked by your bank or the casino before their funds are instantly deposited into their casino account.

Pros

• Bank cards are used and accepted globally
• Deposits are instant
• The method is familiar to most people
• Transactions are secure, using features like 2-step verification and encryption technology

Cons

• Generally not the fastest withdrawal method
• Banks may not allow online casino transactions if they deem them risky

e-Wallets

The popularity of digital wallets has grown in recent years, as they offer their customers speed, convenience, and better security. If you are still hesitant to share your banking details online, an e-wallet is the perfect choice, as you can deposit and withdraw quickly with no sensitive information shared.

Well-known options include Google Pay, PayPal, Apple Pay, Skrill and Neteller. Using an e-Wallet is also very easy. Simply download the app, fill in your information, and link it to your bank account. Once set up, you can then link it to your casino account.

Pros

• Deposits and withdrawals are quick
• An added layer of privacy since no financial details are exchanged
• Very secure method, using data encryption, multi-factor authentication and tokenization to protect your funds.

Cons

• Not all online casinos are set up for e-Wallets
• The fees for any e-Wallet-related transactions may be higher than other options

Bank Transfers

Known as a more traditional method of transacting, bank transfers let players deposit and withdraw from their bank accounts to the online casino directly. The processing times may be longer, but the limits are generally higher, making this option ideal for players with bigger bankrolls.

Common methods include direct transfers, SEPA, and SWIFT payments. Most people are well-versed in the requirements of a bank transfer-—it’s simply opening your app and filling out the beneficiary details. Location, transfer type and bank may affect how long the transfer takes to process.

Pros

• Increased transaction limits
• Widely accepted Reliable and long-time payment method
• Stringent security measures like SSL (secure socket layer) protocols and anti-fraud monitoring systems.

Cons

• Processing times can vary and are not immediate

Cryptocurrency

We couldn’t leave without briefly mentioning a relatively new method that’s taking online transacting to another level. Crypto offers a level of security and privacy, unlike any other payment option.

Blockchain technology ensures payments are processed swiftly, and minimal fees are incurred. The enhanced privacy comes from it not needing any banking or personal information. All players need to do is open a crypto wallet and transfer their amount to the online casino’s wallet. Ethereum, Bitcoin and Litecoin are popular choices.

Pros

• Privacy and anonymity are guaranteed
• Can have more than one wallet
• Transactions are fast

Cons

• Not regulated
• Not accepted everywhere
• Very volatile according to markets