How to choose a reliable and solid online casino? - PART 4: Deposits & Withdrawals

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Getting money in and out, especially cashing out can be exciting! But how does this all actually work? Does the casino offer the payment method you like to use and how can you check it out? Well, all explained below. Enjoy!

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Playing at online casinos is definitely a fun pastime, but you obviously need to have funds there to be able to do so. And one point to look out for when joining a casino, is its range of payment methods. You see, some platforms only allow you to deposit in two or three different ways, while others will allow transfers from multiple different options. So, if you have a preference for using a rarer payment method, you’re going to also be limiting yourself to smaller group of casinos. That being said, those platforms that provide stronger choices of payment methods also tend to be more diverse on the whole. It’s quite common for most online platforms to provide Visa and MasterCard deposits, so if you don’t have a problem making a deposit with a card, this will be fine. However, not all of them have alternative options. Let’s take a look at some of the most frequently seen depositing methods.

Credit and Debit Cards

The process of making a card deposit is exactly the same as if you were online shopping. You’ll simple be required to enter your card number, expiry date, CVV2 code and the name as it appears on the card. Deposits made via credit or debit card usually instantaneous too, so you can start gaming immediately. While most platforms accept Visa and MasterCard cards, others aren’t so widely available. Therefore, options like Laser, Diners Club International, Solo, Delta and Switch are not so readily able to be used. That’s not to say that all casinos don’t accept them. You can still find quite a few that will provide you with the opportunity to deposit via alternative cards. The withdrawal process for these cards – if the casino allows you to do this – will usually take up to three business days to complete. However, it can also extend up to five business days.

eWallets

An eWallet is probably the most popular alternative form of adding funds to a casino account. Some of the most utilised of these include Neteller, Skrill and PayPal. The eWallet works as a sort of midway point between your funds. So, you send your cash from a card or bank account into your eWallet account. And once it’s there, you can use it in many other online locations. So, if you’re using Neteller for example, you just need to select this option at the cashier and enter your personal identification number (PIN). Again, deposits via eWallets are instant, and they actually also provide you with the quickest way to withdraw your winnings too. Generally speaking, if your account is fully verified, a withdrawal via eWallet is quite instant too. In fact, the maximum time period for a withdrawal via this method is 24 hours as a standard.

Prepaid Cards

There isn’t a huge amount of these that are available to use, but PaySafeCards are perhaps the most popular. A prepaid card is exactly how it sounds – a card that you pre-load with funds. PaySafeCards can be bought from multiple different locations around the world, and come in various different values. So, for example, you could go to your local outlet, request a $100 Paysafecard and hand over your cash. You will then be able to enter the number on the Paysafecard at the cashier page of the casino. This will then load the funds into your account, which is another instant transaction. The only slight downfall about this particular option, is that not many casinos allow you to withdraw to it. Therefore, it’s generally the case that your withdrawals will process through a bank wire transfer instead. And this does take a longer time period.

Bank Wire Transfers

These are generally thought of as being a last resort to go to. In the case that your chosen casino doesn’t provide one of your preferred payment methods, a bank wire transfer usually can save the day. This requires you to go to your bank and send the money over to the casinos bank account – or do the same from your own online banking account. However, this usually takes several days to process through, with the same fate being applied to withdrawals. Therefore, you can’t start playing straight away. You’ll need to wait until the casino has confirmation of your deposit arriving. This can take up to five business days. And additionally, withdrawals via bank wire transfer can take up to seven working days.

Fast Bank Transfer

A fast bank transfer works similarly to a bank wire transfer. However, it’s a lot faster – hence the name. It works by transferring funds from your bank account to another one locally. This requires you to login to your online banking account and authorise the bank to do this. A fast bank transfer differs from a wire transfer. This is because the former transfers funds from one domestic bank to another, while a wire transfer sends funds from one international bank to another. However, while you can make deposits with this method, withdrawals will be sent by the much slower bank wire transfer.

As well as all of these options, you’ll find that several country-specific options also exist at some online casinos. For example, the iDEAL deposit method that is available in the Netherlands, or Boleto which players from Brazil can use. These payment methods are not the same in any way, but they are relevant to their own specific countries. And while quite a few online platforms do accept such country-specific methods, there are also plenty that don’t.

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Banking at an online casino? You’ve got the basics now! We are almost there! Read the last part of our Online Casino Guide which will focus on ‘Customer Service’.

Category:   Tips & tricks

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