Different Payment Methods
Normally you are not tied to one payment method in online casinos, but can choose between several transaction methods, including well-tried ones such as credit cards, direct debit and instant transfer.
In the meantime, most casino providers added plenty of new virtual methods that do not only work much faster than conventional methods, but are also particularly secure. PayPal and Neteller are just two of many examples of these virtual payment methods.
It has almost become a bit confusing with some online casinos, because you are not only given three or four options, but often even 10 and more. These methods can also be used for withdrawals, because after all you don’t want to keep the money you won in your player account forever.
The casino payment methods are widely accepted and they include:
- Credit and debit cards such as Visa, American Express, and MasterCard;
- Electronic wallets such as direct debit payment method, Giropay payment method, PayPal, Skrill and Neteller;
- Other payment method;
- Google Play or Apple Pay casino mobile payment method.
However, it is also possible to find other online casino payment options that people enjoy using.
Benefits and Drawbacks at a Glance
If the choice of payment methods in an online casino is a little overwhelming for you, a look at our table could help. Here we have compiled the advantages and disadvantages of the most common online casino payment methods.
|Bank Transfer||Available to anyone with a bank account, it is safe and proven.||It takes several days for the money to land in your account, both for deposits and withdrawals|
|Credit cards||It’s easy to get hold of credit cards these days, it can also be cards without an overdraft, money ends up directly in your player account.||Some banks charge fees and loss of control can happen.|
|E-wallets||The money lands in your account instantly, no fees, easy setup.||The additional account is required for the service, money must first be loaded onto the e-wallet account; they are often not usable for bonuses.|
|Payment service provider||No additional account is necessary, money lands in your account immediately.||Some banks do not work with some service providers, online banking data must be available.|
|Prepaid voucher||It can be purchased by cash in the shop, anonymously; the money goes straight to the account.||Withdrawals with this method are impossible; can mask addiction; is not usable for bonuses.|
How to Withdraw Money from Online Casino?
If you have made decent profits and want to cash them out, you will notice that the casino payment options are often a bit more limited here.
Most of the time, your online casino will ask you to use the same withdrawal method that you used to deposit. This is because it simplifies the verification process because you will usually be checked briefly when you make a deposit.
The most common payment methods here are also bank transfers, credit cards and e-wallets or payment services.
You will notice that there are some payment methods that are never available for withdrawals. The most prominent one is probably the PaySafeCard. This is simply because the PaySafeCard code is not linked to you or your bank account at all. You buy the code in a store and you can even do it with cash. So where should the online casino send your payout to?
Popular E-Wallets that are Accepted at Online Casinos
E-wallets are electronic purses for which you usually have to create an additional account. The most important e-wallets in online casinos include PayPal, ecoPayz, Neteller and Skrill.
The advantage of these methods is that they are available in most online casinos; they are safe and easy to use. Unfortunately, PayPal is not offered as a method in all the countries. This is particularly a shame because PayPal was the only e-wallet that you could connect directly to your bank account.
With all other e-wallets, such as Neteller, ecoPayz and Skrill, you have to actively top up your account with credit before you can use the payment method in the online casino. In addition, Neteller and Skrill, in particular, are often excluded from bonus offers.
Pay by Phone Casinos Deposit & Withdrawals via Mobile Payments
One of the newest methods is online casino mobile payment. All expenses for gaming are included in the mobile phone account. This is a very convenient option, but you have to be very careful about all expenses.
So, when choosing a payment option for an online casino, there are many factors to consider. The most important of these are safety, cheapness and convenience.
The jungle of payment methods can sometimes be difficult to navigate, as the choice just keeps getting bigger. Therefore, we hope that our guide has given you a good overview of the advantages and disadvantages of the payment methods that you will find in most online casinos.