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Players visit the cashier section of the casino or sports betting site to make two very important decisions; Deposit and withdrawal. No gaming experience can begin or be completed without these two decisions, so either transacting money is pure fun or a huge hassle that has gamers screaming in all caps on gaming forums! Granted, online casinos want to make this process quick and easy for all players, so they support a wide range of payment methods, process transactions quickly and at no additional cost. Also, they make deposit and withdrawal limits suitable for all budgets. In this article, we will take an overview of the most important financial means available in online casinos that you can use to conduct your financial operations in different casinos.
Visa is the leading bank card brand, it’s a must in your wallet! There are 1.40 billion Visa card users worldwide. Apart from zero fraud liability and emergency card replacement, it is widely available at all online casinos and sports betting sites. Your deposits will be secure with Visa’s sophisticated verification service that confirms your identity before you settle payment so you can transact and shop online with confidence. Plus, your visa deposits instantly get you playing faster. Unlike Skrill and Netteller, Visa deposits are not excluded from any bonuses in online casinos and sports betting. The best feature of Visa cards is that they are able to easily convert between different currencies and at the card-issuing bank’s rate at no additional cost.
The second major credit card provider is Mastercard and you can also use it in the online casino. However, if you live in the UK, you will not be able to use the Visa or Mastercard credit card to transact. You can only use credit and prepaid cards to carry out your transactions. A serious disadvantage of MasterCard cards is that they do not accept withdrawals. Thus, if you make your deposit with a MasterCard, you will not be able to withdraw your winnings in the same way. The only method you can use to withdraw your winnings is bank transfer.
Although it is the most traditional way of making transfers, online banking is still one of the most used methods today. Bank transfers have many advantages, including safety and security, there is no possibility of reversal of payment. Additionally, payments are not subject to chargebacks. All payments are completely electronic without the need to go to the bank branch to give the signature. Since most people have their wages paid directly into their bank account, paying by wire transfer is considered convenient and easy for most casino players. There are different types of bank transfers that are carried out by different providers, namely:
Normal bank transfer
The traditional bank transfer is obsolete. You can hardly top up your casino account by this method. However, some providers allow winnings to be withdrawn via the usual bank transfer – but this requires patience as it may be on the way for a few days.
The first popular form of online bank transfer is Klarna. This method is very flexible and easy to use. Users can get a full refund if the transaction is returned or canceled. Additionally, they can receive reminders for their regular payments, such as household and utility bills. You don’t have to pay more than you should because there are no hidden fees in Klarna payments. Additionally, Klarna offers convenient payment plans for customers unable to repay. In other words, you can use it as a buy-it-now, pay-later solution.
In complete confidence
Trustly works the same way as Sofort and Klarna. You can use it to make payments directly from your bank account securely and without any fees. The big advantage of Trustly is that it accepts withdrawals, while withdrawals are not possible with Sofort and Klarna.
Rapid Transfer is Trustly’s little brother, although they are not related at all. This service is managed by the famous company PaySafe which also owns Neteller and Skrill. Rapid Transfer works in a very simple way, you can make your payments through your online banking system and get your withdrawals the same way, all for free. This service has many advantages, perhaps the best of them being instant transactions, as payments are made as soon as customers complete their transactions. Also, it applies all the rigorous security measures of the banks. Moreover, users of the fast transfer service do not need to create a new account on the service, they only have to enter their online banking details to complete the transaction.
The latest member of the family of online banking solutions is Giropay. Introduced in 2006, this service allows users to transact using the online banking environment with funds debited from their bank accounts. In other words, this method works as a mediator between your bank and online casinos and betting sites. However, there is no option to withdraw the credit. To do this, you must then use another means of payment. You are also not required to register with Giropay, you can use your online banking credentials only to make deposits.
Electronic wallets in online casinos
E-wallets or online wallets are convenient means of payment. They are perfectly suited for online payments and they are perfect as casino payment methods.
You must create a user account for these wallets. This account can then be used to send and receive payments. So you can easily move money between friends, but also play online casino. Of course, there must be a credit on the wallet to be able to pay with it. It can be recharged by bank transfer, payment by card and sometimes by other means.
Payments to wallets are posted extremely quickly, so you don’t have to wait long for your money. Another benefit of these e-wallets is the ability to manage your budget. For example, if you want to spend a maximum of €100 per month on gambling, you can simply top up a wallet with that amount. When the wallet is empty, you know: I’ve reached my budget limit.
Neteller is one of the best known wallets and is represented in almost all online casinos. For more than a decade, they have been part of the payment area of almost all providers.
Nowadays, deposits and withdrawals via Neteller are free for the player almost everywhere. Previously, you had to pay fees of up to 3.5%.
When it comes to bonuses, things aren’t always rosy. Sometimes you are excluded from rewards with Neteller and Skrill casino payment methods, or encryption options.
Established in 2001, Skrill was the first popular online wallet in the online casino industry. At that time, it was called “Moneybookers”, which is still commonly used by online casino bettors. Although it incurs high fees compared to online banking methods, Skrill offers convenience, confidence and speed to all users. You can use it on your PC or mobile. Also, it provides native Android and IOS apps. You can link your Skrill account to your bank account or card.