Casino Payments and Banking Options
On-line casino games are a great way to have fun and relax at home. However, it's hard to enjoy the games if you don't understand where your money is going or how your winnings will be paid. There are various possibilities of money management and different casinos choose to handle money in different ways. It pays to understand the various deposit/withdrawal options before you invest your cash in any on-line casino.
An e-wallet is a digital representation of your money which you can access on-line. The biggest advantage of e-wallets is that transactions occur electronically and instantaneously. E-wallets are also called “digital wallets”, as they can be used on different digital devices, including computers and smart phones.
The following four e-wallets are accepted by online casinos:
Most people have heard of PayPal, which was established over a decade ago and is one of the most popular electronic wallets in the world. Gamblers across the globe have access to this easy-to-use digital wallet which accepts a multitude of different currencies. Transactions are simple and quick, often at no charge, but it should be noted that not every on-line casino accepts PayPal.
Neteller is a popular e-commerce option for on-line gamblers. Like PayPal, it deals in multiple currencies and costs nothing to open an account. Money may be transferred to Neteller from a player's personal bank account or credit card. Payouts are either sent to a holder's Neteller account or to the financial institution from which the initial deposit came. Gamblers should consult individual casino guidelines, as policies differ from site to site. » Click here to get a free Neteller account
This company, regulated by the Financial Conduct Authority of the UK, offers more than 100 different payment options to people in more than 200 countries. Account holders pay nothing to withdraw money, small fees may apply only while sending a cash. The Skrill Prepaid MasterCard is available to all EU residents and can be loaded straight from a card holder's bank account. Transactions involving a prepaid card often have no fee, but a minimal charge accompanies foreign exchange and cash withdrawals. It should also be noted that an annual fee of 10.00 Euros is required.
Click2Pay provides instant transfers and withdrawals to account holders. The Click2Play e-wallet offers a big advantage to users around the globe: deposits are virtually anonymous, meaning Click2Play provides only bare-bones information to on-line casinos when depositing money. Americans who currently have an account at Click2Play can use it, but newer U.S. applicants sometimes find that membership is difficult to obtain.
One of the biggest benefits of on-line gambling via wire transfer is that there is no cap on transaction amounts. While other methods of transaction may impose a daily limit, wire transfer knows no limit. One large drawback is that wire transfer can take several days. Unlike e-wallets, transaction is not instantaneous.
Money may be wired via Western Union to and from on-line casinos, but the process is a bit complicated (involving fees and reference numbers that must be shared with payees). The company reserves the right to sell customers' information unless they are explicitly asked not to, a fine-print fact consumers sometimes overlook.
Credit cards sometimes work as a means of deposit with on-line casinos. The best way to find out if a particular card will work is to try it. The transaction will either be approved or denied. The amount of money you can deposit into your on-line casino account depends on your line of credit and individual casino guidelines.
If you choose to use your credit card on-line for gambling purposes, be prepared to divulge personal information (like proof of residency, driver's license/ID, billing address and your account number) to the casino. Before getting too far into this process, find out if your casino of choice accepts credit cards as a means of both - deposit and withdrawal.
Visa is accepted by a large number of on-line casinos for both deposits and withdrawals, but acceptance is not 100% guaranteed. Card holders who wish to use their Visa for on-line gambling often don't know if the transaction will be approved until they give it a try. This popular international company usually charges a small fee for "cardholder-not-present" transactions, otherwise known as CNP. The convenience of using a Visa is, however, worth the small surcharge for many on-line gamblers.
MasterCard is Visa's largest competitor and offers debit, credit and prepaid cards to its members. Most on-line casinos accept MasterCard for deposits but MasterCard does not allow on-line gambling winnings to be discharged back onto the card.
American Express (AMEX)
AMEX is one of the United States' most well-known credit cards, but some on-line casinos will not accept it due of its higher-than-average surcharges. Casinos that do accept AMEX often pay players back more than they actually earned in the form of bonuses. Because AMEX cards are only available to Americans, casinos that accept this card are also likely to accept American gamblers.
Online Casino brands that accept the American Express cards as payment method are » Aladdins Gold | All Star Slots | Club World Casino | Lucky Red | Manhattan Slots | High Noon | Buzzluck | Club SA Casino
When it comes to on-line casinos choices of types of transactions abound. Whether you choose to use an e-wallet, wire transfer or credit card, it's important to understand the pros and cons of each one before laying any money on the line.