Online Casino Banking Options

banking options

One of the most important features in a reputable online casino is to allow the player to do quick, safe and secure deposits. The vast number of payment methods offer players an equally vast array of options, which can be confusing at first. For instance, some are only deposit methods, while some also will allow you to withdraw all or part of your winnings back to the initial deposit platform. We are going to go on a journey through some of the most widely accepted payment methods and have a look at their own little quirks, so that you can choose your preferred one before you turn your focus to playing, betting and winning!

Credit Cards

Credit cards are the most widely accepted payment method in the world of online casinos, and you will have to look hard for a top casino that doesn’t accept cards for MasterCard or Visa as a way to make a deposit. Credit card withdrawals are also possible but not all casinos offers this possibility. Together with American Express (AMEX) and several others, they belong to the best deposit methods that a player can use.

Benefits of credit cards

  • they allow players to make large deposits and withdrawals
  • no need to create an account with any third-party payment platform
  • deposits are instant
  • very safe payment method to use

Drawbacks of credit cards

  • not all online casinos support withdrawals through credit cards

Debit Cards

Debit cards are one of the most popular payment methods to make a deposit at online casinos. Players all over the world enjoy the benefits that easy and speedy transactions provide, and there are many other reasons why debit cards like MasterCard, Maestro, Visa, Visa Debit or Union Pay are supported at the top online casinos. The main benefits of debit cards are:

Benefits of debit cards

  • most simple payment method
  • deposits are quick and the funds are available immediately
  • no need to use a third-party payment platform
  • the safety level is second-to-none whether you are making a deposit or a withdrawal
  • your transaction is well looked after by the security features provided by the leading banks
  • some online casinos offer bonuses for depositing using debit card

Drawbacks of debit cards

  • it’s required to use your personal details

Visa

Visa has become a true payment standard that is offered by almost any online casino. It’s one of the biggest financial merchants around and players often choose this method for its security, simplicity, availability and speedy processing times. Another handy benefit is that this payment method is usually totally free, which means that you don’t get charged for deposits or withdrawals. Visa is available as both a credit card and debit card.

MasterCard

MasterCard needs no introduction for users of debit and credit cards – it’s definitely one of the biggest, safest and most widely accepted payment methods around. MasterCard offers secure and quick deposits and withdrawals of even large amounts that are often with no extra charges. Furthermore, some casinos reward you with an attractive bonus on each deposit made. Players all around the world trust in MasterCard – in return they get a top customer service and top-notch security.

American Express (Amex)

American Express, also known as Amex, is a multinational financial services system with more than 160 years of history. It’s one of the world’s largest credit card issuers and a favourite payment method of many casino players. Since it’s a credit card you don’t need to have any fund available when making a deposit, which is often the main reason for its popularity. The deposits are made immediately. However, not all casinos accept American Express and it does not work as a withdrawal method. Amex is also well-known for it superb customer service.

PaySafe

If you prefer cash vouchers PaySafe is the right payment method for you that is available through hundreds of retailers in many countries. PaySafe has quickly become the leader brand in online prepaid payment methods and it’s currently in 5 different currencies – eur, GBP, USD, Swedish krona and Swiss franc.
The cards are secure, easily topped up, and this ease of use makes it one of the most sought methods. It works in a similar way to a mobile voucher and it’s a great solution for keeping your personal details, identity and finances secure, safe, anonymous and under control. It’s fantastic news for players who don’t want to have a record of online casino expenditure on their credit or debit card. On top of this, transactions can be easily made through PaySafe’s mobile app or online website. No processing fees are charged when using PaySafe and some online casinos will allow players to do withdrawals.

Benefits of PaySafe cards

  • easily available through local merchants
  • no need to create an account with some third-party payment provider
  • the funds are available instantly on your account
  • high level of security – no need to share personal information when making a deposit

Drawbacks of PaySafe cards

  • only available in predefined amounts

EntroPay

EntroPay, a popular e-wallet and payment platform, was founded in 2000. It works as a virtual prepaid Visa debit card, and it therefore allows customers to make deposits in all online casinos that use Visa as a payment method.

Benefits of EntroPay

  • can be used as both an e-wallet and a prepaid card
  • you can make deposits and withdrawals (a small fee applies to the latter) in USD, EUR and GBP
  • it gives you a better control over your spending as you can use only what you put on the card
  • it is delivered seamlessly to the comfort of your screen (you do not have to wait for the card to arrive on the post)
  • no need to share financial information with online casinos when making deposits. Your bank statements will only show that you have funded an EntroPay account
  • it’s accepted in many online casinos

Drawback of EntroPay

  • some casinos don’t allow to withdraw through EntroPay

PayPal

In the last few years Paypal has become one of the most popular payment methods. It is an online payment system that supports money transfers and acts as an online alternative to common offline methods. Thanks to its ease of use when it comes to both deposits and withdrawals PayPal is becoming a big name in the world of online casinos. As one of the safest and most secure payment methods, the only drawback is that not every casino offers PayPal yet and there’s often a little transaction fee.

Benefits of PayPal

  • great reputation
  • high level of security since you don’t provide your bank details directly to the casino

Drawbacks of PayPal

  • it’s not widely accepted amongst online casinos
  • sometimes it may take a while to connect your PayPal account with your casino account

Neteller

Within the ever-growing number of payment methods at online casinos, Neteller reigns in the e-wallet industry. Since its inception in 1999, the company has grown and is now used by millions of online casino players from over 150 countries. Neteller supports 26 currencies, has a spectacular customer service, and allows for quick and secure movement of large amounts money (when permitted by the online casino), whether it’s a deposit or a withdrawal. You can fund your account via credit and debit cards, other e-wallets, Bank Wire or Bitcoin, giving you extraordinary flexibility. You will also benefit from reward points, and the only setback is the small fee charged by casinos (between 1%-5%) when making a deposit. So have a look at the T&C before moving your money!

Benefits of Neteller

  • instant transactions
  • supports 26 currencies

Drawbacks of Neteller

  • sometimes there’s fees for making deposits

Skrill

Originally founded in 2001 as Moneybookers in the U.K, Skrill has grown from strength to strength in their offering of online financial services. Skrill gives customer top-shelf protection and anonymity, as customers’ names and personal data are kept confidential. It is its safety and security that have brought this payment method to the online casino world as one of the most favoured by customers over the world. It supports 40 currencies in over 200 countries, it offers 24/7 customer support and has smaller fees than Neteller when making a deposit. Another benefit is, for instance, almost instantaneous access to your bankroll.

Benefits of Skrill

  • many available currencies
  • possibility to get Skrill prepaid Mastercard that can be used at an ATM
  • Skrill transactions are instant

Drawbacks of Skrill

  • occasional fees for making deposits
  • some online casinos don’t offer Skrill

EcoPayz

EcoPayz is a popular online payment method and the oldest e-wallet in the world (established in 2000). Nowadays it is supported in thousands of websites all around the world, including a growing number of online casinos. EcoPayz allows you to transfer your funds to various merchants or even directly to individuals. However, in order to do so you first need top up your wallet using one of many popular payment methods. Sometime you may be asked to verify you identity, which is a very quick process. For both deposits and withdrawals you will need the ecoAccount or the ecoCard. Making a deposit is simple – just select EcoPayz on the deposit page, enter the amount and follow the instructions to complete the payment. Withdrawals work similarly and most casinos don’t charge any fees.

Benefits of EcoPayz

  • widely accepted
  • possibility of anonymous payments
  • protection from potential fraud

Drawbacks of EcoPayz

  • higher processing fees
  • not all casinos offer this method

Wire Transfer

Wire transfers are a safe, easy and usual payment method to deposit funds at online casinos. They are also a great way to withdraw all your earnings when you are done, especially when we are talking of large amounts! Wire transfers have less regulation and because they do not require giving personal details, it translates into a greater privacy and more anonymity. Some players also use wire transfers because they are less likely to trigger investigations and reports. Casinos typically prefer this system, hence they sometimes offer incentives and bonuses to customers who use this method. The only real drawback for the players is that it takes 3 to 5 days to transfer funds from one account to another. Depending on the country or countries that the money moves to and from there might be also fees involved. However, it’s one of the most dependable and reliable payment methods out there!

Benefits of Wire transfers

  • no third-party involvement when making a deposit or withdrawal – just the bank itself
  • secure payments

Drawbacks of Wire tranfers

  • manual effort to make a deposit or withdrawal
  • sometimes there are high fees linked to wire transfers
About Soham.Laghari 57 Articles
Soham has been interested in the online casino industry for many years. He's CasinoHub's main contributor and reviewer. His knowledge of different online operators as well as game software providers has helped many our visitors choose the right place to play.

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