Online Casino Payments | Making Deposits and Withdrawals
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The Payment Options at an Online Casino

The quality of the banking facilities is an important consideration when it comes to deciding upon which online casino to join. You need to be able to add money to your account quickly, and also to make a withdrawal without any hassle. There are plenty of payment methods, but not all of them are available at every venue. It’s often the case that there are several ways of depositing cash, but not quite so many options when it comes to taking it out. There are some key differences in the way that funds are processed, as well. You may be charged a fee at some establishments for certain aspects of this. Another thing to be aware of are the clearance times of your transactions as these tend to be variable. The minimum and maximum limits should be explored too, as this could affect your choice. Finally, you need to be confident that both your personal and your financial information will be kept completely confidential at all times.

Using Credit and Debit Cards for Banking

These are probably the most popular out of all the choices. There are, however, some significant differences between them. With a credit card, you are borrowing money, and this will have to be paid back to the company. With a debit card though, you are using funds from your own account. In general, this means that there isn’t any danger of overspending, as if you don’t have enough cash in your account, the deposit won’t be made. The other point to note is that your money is protected when you use a credit card. If there’s an issue with any of the transactions, you’ll be fully reimbursed. When it comes to the debit cards, you would have to recover your cash by yourself. Most of the online casinos will accept deposits with either type, and you’ll generally see Mastercard and Visa listed among the options. You’ll usually find American Express included, as well as Switch, Maestro, and Electron. It isn’t necessarily the same case for taking out cash, as not all of the venues will allow you to withdraw to a card. You also need to be aware that if you’re in a country where gambling is illegal, your bank may block your payments.

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Using a Prepaid Card for Making Deposits

These function in the same way as a debit card, in as much that you can only spend the cash that you have in the account. This payment method is accepted in many of the online casinos, and it’s one of the favored options among players because it offers both privacy and security. There are a couple of names that you’re bound to come across. The first is Entropay. This can be used wherever you see the Visa or Mastercard logo, so it’s pretty much globally accepted. The second you’re likely to see is PaySafe. This is a viable choice for some punters as it can be used without the need of a bank account. You just add funds to the card when you buy it, and then you use the 16-digit number on the card for your online gaming.

The Benefits of eWallets for Transactions

eWallets are a digital payment method, and they have become increasingly popular because they provide both anonymity and convenience for the user. Unlike the prepaid cards, they don’t need to be loaded with funds beforehand. Instead, the eWallet is linked to your bank account, and acts as an online intermediary, transferring cash between you and the casino. This system means that no financial details will need to be disclosed to the venue, which is why it’s the favored option for many punters. Another benefit is that transactions are instant. Two of the names that you are bound to come across are Skrill and Neteller. These eWallet systems work in similar ways, providing you with a straightforward and secure way of transferring funds. Both have VIP schemes too, so you’ll be collecting points each time you make a payment. As you move through the program, you’ll be entitled to rewards, such as lower transfer fees and priority uploads. Another possibility that you might see listed is PayPal. Over the years, this company has become synonymous with making online transactions.

Exploring the Localized Payment Options

There are several financial companies that only operate within specific jurisdictions, and so, depending on your location, you may have some other payment methods open to you. The AstroPay card is primarily for the South American market, and Todito is most commonly found in Mexico. The WebMoney eWallet was established in Moscow and is popular with Russian clientele. Giropay is used in Germany, and Instadebit is an option for Canadian members. There are countless other localized possibilities too, so you can explore those, too.

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Bitcoin joined the financial market in 2011 as the world’s first decentralized currency. Instead of being linked to a central bank, this digital cash is a peer-to-peer transfer system. Although it has come under a huge amount of fire since its conception, it has stood the test of time, and is now widely accepted in many countries, including the USA. To get started, you just need to set up an eWallet in the standard way, and then you can buy or exchange Bitcoins. You can mine them too, if you fulfill one of the online tasks. There are a few things to note before you decide upon this payment method. The first is that as it’s exempt from banking or government restrictions, it isn’t subject to any regulatory body. The second drawback is that the rate tends to fluctuate quite a bit, and although there isn’t any minimum deposit limit, there aren’t any refunds either. Even so, it remains the preferred choice for many players because of the complete anonymity that it provides. Better still, a few of the online casinos will give you an enhanced bonus when you use Bitcoin to make your initial deposit.

Making Bank Transfers at Online Casinos

The majority of online casinos will accept bank or wire transfers, and many players find this is the easiest way to make a deposit. However, the fees associated with this type of transaction can be variable, and your cash won’t necessarily register on your account straight away. In a lot of the venues, it can take up to ten days for your funds to clear, so this isn’t the most efficient of the available choices. It doesn’t offer much anonymity either, which might be a factor. Nevertheless, this remains a secure way of transferring money, and many establishments offer additional incentives if you opt for this method. It’s also a good option if you want to make a sizable deposit as the maximum limits are usually set much higher. There are a few more localized possibilities, as well. For example, Trustly provides an almost instantaneous way for members in Estonia, Sweden, Norway, and Finland to make a transfer. Transferencia does the same for punters in South America, although it can take a day for funds to clear with this company. There’s Interact2Pay too, for the Canadian market.

Using a Mobile Device to Add Some Funds

In a few locales, it’s possible to use your cell phone or another mobile device to add some cash to your casino account. If you choose this method, you will generally need to register your phone number with the online establishment. You will then be able to send a text message to top up your playing funds. The venue will usually send you an SMS as confirmation of the transaction. Your payment will be taken from the balance of your phone if you are using a prepay version. If you aren’t, the amount will merely be added to your next telephone bill.
 
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Some Specific Mobile Payment Services

For a specific mobile payment service, you should check out Boku. This is available in more than 60 countries and across over 250 different networks. It’s pretty much a one-click option, so it couldn’t be easier to user. You simply select your network, add your telephone number and the amount you wish to deposit, and then click on submit. Your transaction should be processed immediately. If you’re using an iOS device, you can access Apple Pay. This is basically a wallet app that works with most leading banks and credit or debit cards. There are also some regional alternatives. Players in Sweden and Finland can use Zimpler, which uses a pin code for transferring cash. If you’re in the UK, you could try Payforit. In this instance, you will simply choose the recipient on your device, fill in the amount, and then click to process the transaction. Your funds should show up in your account fairly immediately.

The Different Options For Withdrawals

You’ll often have far fewer possibilities open to you when you want to take out your winnings, and you won’t necessarily be able to use the same method as you did for making your deposits. You won’t be able to withdraw funds to a prepaid card, to a phone bill, or to several of the eWallets. It’s quite often the case that debit cards aren’t an option, either. Generally speaking, you’ll be limited to Neteller, Skrill, bank transfers, or the major credit card. Bitcoin is usually listed, as well, and many of the establishments also use a check by courier service.

The Limitations on Withdrawing Funds

It’s usually free to make a deposit at one of the online casinos. However, there are often costs associated with making a withdrawal, and these vary considerably, depending on the payment type and on the venue itself. Although you are unlikely to be charged if you are using an eWallet, it is fairly standard for a fee to be applied for a transfer or for a check to be issued. There is also the time factor to consider. When you’re adding funds, the process tends to be instant, but when you’re taking out money, it can take the casino several days to process your payment. In some instances, it can take up to two weeks before you receive any cash. Additionally, you’ll find that there are limits on how often you can make a withdrawal, as well as on how much you can take out. As these differ greatly between venues, you should make sure that you are aware of all the specifics before you sign up anywhere.

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Some Handy Tips about Casino Banking

No matter which payment method you decide upon, there are a few universal tips to bear in mind. The first is to ensure that you don’t save any of your passwords or your account details online. You should also sign out whenever you’ve finished playing, especially if you are using a shared device. You should also look for a secure connection whenever you are making cash transfers. If a site uses SSL protection, or something similar, your personal information will be encrypted during any transactions, and so it can’t be accessed by anyone unauthorized. Look for the padlock symbol in the browser bar. As long as this is being displayed, you can be confident that you’ll be fully protected while you are uploading your funds.

A Final Piece of Advice about Payments

The majority of the online casinos have strict procedures in place to ensure that you are conducting your banking under secure and safe conditions. However, if you have any concerns while you are uploading or withdrawing your funds, you should cancel the transaction immediately. Once you’ve done this, you will need to get in touch with the customer service team at the venue as soon as possible. You’ll find the contact details on the website, and they will be more than happy to assist you, and to resolve any issues that you may have experienced.