There are all sorts of guides for choosing an online casino or finding a specific game to play. However, which option are you going to deposit with once you’ve signed up? Some players opt for the simplest options available, while others may choose to go for whatever payment method they already have. There may be a better way, though.
Today, I’m going to look at online casino banking options and payment methods. I’m going to share the ideal things to look for to ensure that you use the best option for your needs when betting online. Let’s get started.
Always Explore Your Options Before Signing Up
Not all payment methods used in the online casino world will suit you. Some are reserved for players in selected countries. However, there are usually workarounds and alternative options. For instance, most players assume that PayPal can only be used in selected countries such as the United Kingdom. That’s not actually true. For instance, there are some sites, such as PayPal casinos not on GamStop, where you can expect to use this option.
Similarly, some payment methods are better suited for high-rolling players, others are ideal for rapid deposit and withdrawal times, and some have exceptionally lower fees (sometimes no fees at all) than most. I’m going to walk you through these options next.
Top 3 Things to Look for with Casino Payment Methods
In my years of experience, I’ve typically found that there are three things you want to keep an eye out for with casino payment methods. Limits, fees, and withdrawal times. Choosing a payment method based on these options is arguably going to be better for you than merely selecting the banking option which you already have at hand. Here’s why:
Reasonable Limits That Suit Your Style
Choosing a payment method based on the amount you wish to deposit or withdraw is advantageous. For instance, many mobile-centric options don’t permit withdrawals at all, nor do most prepaid vouchers. Other payment options, such as e-wallets, may have specific limits on how much you can top-up or cash out. If you’re a high roller, for instance, then credit and debit options such as MasterCard and VISA or bank/wire transfers will be more advantageous. If you prefer to be more cautious when depositing, then you can’t go wrong with those other methods, many of which will permit deposits worth as little as $5 to $10.
Low to No Fees
Nobody wants to see half their fortune wiped out courtesy of withdrawal fees. While it is rare for casinos to charge for deposits, some have either fixed fees or percentage-based tariffs when it comes to cashing out your winnings. If you love where you play and can’t escape withdrawal fees, then the least you can do is pick a payment method with the lowest fees possible. Generally, e-wallets are the way to go here, as unlike bank transfers and cryptocurrencies, they are almost always free from added charges.
The Faster, the Better
Casinos have no qualms about processing your deposits instantly, so why do so many of them take their time when it comes to withdrawals? There can be reasons for this, such as pending periods, KYC processes and the clearing of wagering requirements on any nifty bonuses you may have claimed. However, each banking option will also have its own time frame in terms of how long it takes to process payments. While bank and card options typically take 2-5 business days, most e-wallets can process payments in under 24 hours. Cryptocurrencies are the way to go here, though, with some Bitcoin casinos not on GamStop able to process your cashouts in anything from a few minutes up to an hour. If speed is important to you, these could be the payment methods you want to consider.
Handy Hints for Choosing Reliable Casino Payment Methods
The three steps discussed above are all ideal if you want to process payments rapidly. However, there are other things you can consider, too. Below, I will share six of my handy hints and top tips for choosing reliable casino payment methods.
- If you want to use VISA or MasterCard, then try to obtain a prepaid card. The best prepaid VISA casino sites see you handing over payment details that aren’t linked to your bank account but are a form of wallet instead, making them safer.
- Casino KYC processes can slow down transaction times. Don’t neglect the KYC processes since they give you security. However, cashing out with some options (such as big-money wire transfers) may require more KYC details than others.
- As touched on above, only some payment methods are available. Your array of options will depend on where you reside. If you can’t use an option in your country’s nationally licensed casinos, you can often look to sites licensed offshore to use those payment methods.
- Not every banking option can be used to claim casino bonuses. Some casinos, for instance, claim that Skrill, Neteller or e-wallet deposits aren’t eligible to receive bonuses. Check the bonus T&Cs to find out if your deposit is eligible for a bonus based on the payment method you select.
- Some online casinos go one further and will actively allow you to claim an extra bonus if you use one of their preferred payment options. Check these out and see if they work for you before depositing with them, though.
- Almost all casinos will require you to deposit and withdraw using the same casino banking method. Obviously, this won’t always be possible (for instance, if you deposited using a conventional prepaid voucher or pay-by-mobile option), and in these cases, your withdrawals will likely be processed via bank transfers.
Get Started by Playing at Online Casinos Today
Now that things look a little clearer for you concerning banking methods, you should feel confident about choosing one that works for you at online casinos. If you want to learn more about which payment methods are available online, don’t hesitate to check the casino reviews found on this page or check the cashier pages at internet betting sites to get an idea of what you can use. Given those two options, I’d recommend the former since you’re guaranteed to sign up as a new player at a trusted and reliable online casino today.
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