There are a lot of different payment methods out there and if you’re new to the world of online casinos or making online payments some of it might be a bit confusing. It’s also important to be aware of all the different terms and conditions surrounding certain payment methods such as minimum and maximum withdrawals.
Don’t worry though, we’ve put together a helpful guide to take some of the hassles out of your casino experience, Here we’ll discuss the different payment types available and things to look out for when using a new casino.
Payment Methods Available at Online Casinos
To help you pick the best payment method to use, we’ve selected some of the most commonly used and best payment methods that are typically supported by major casinos. We’ll go over the main features of each one and make things easier for you.
- Bank Transfers – This is probably the simplest payment type out there and supported by nearly all online casinos. Although they’re simple to use and set up, you just need to enter your bank details, they’ve grown less popular over the years as better alternatives have become available.
Bank transfers are typically one of the slower methods so you’ll often have to wait a while for your withdrawal to process. Entering your bank details online can also leave you at risk of fraud.
- Visa and MasterCard Credit and Debit Cards – Another common and easy to use payment type. The vast majority of online casinos accept deposits and withdrawals using a debit or credit card. Visa and MasterCard are the most commonly supported types but you sometimes find support for American Express too.
Whilst these are usually quicker to process than bank transfers they can still often be a lot slower than alternatives. Using your card details online can also be risky, especially if you’re using a debit card. Whilst online casinos use encryption they can still be targeted by cyber-criminals, leaving your payment details exposed.
- E-Wallets – E-wallets present one of the quickest and easiest ways for you to make deposits and withdrawals at online casinos. These electronic wallets have become remarkably popular in recent years thanks to their extremely quick processing times. Sometimes payments will reach your account instantly!
E-Wallets can also give you peace of mind when making payments online as they tend to be a lot more secure than other methods.
- PayPal – PayPal has become one of the most popular ways to make payments online. Its popularity is partly due to the speed at which payments are processed, sometimes meaning you can receive funds in your account instantly.
Whilst it’s not supported by every online casino, PayPal is still popular enough that most major sites support it. Note that fees do apply when using PayPal for some transfers.
- Neteller – Neteller has become one of the most popular payment methods amongst casino players worldwide. It allows fast and easy payments and has low fees compared to some other e-Wallet services.
Neteller also provides a lot of protection against fraud and is widely accepted by online casinos.
- PaySafeCard – This is a payment type that gives users a great deal of flexibility. You add funds to your card and can then use it to make deposits. Although it’s not commonly accepted by all sites, lots of major casinos do allow you to make deposits using the PaySafeCard.
Withdrawal and deposit times are usually quite fast although a bit slower than some other services.
- Skrill – Similar to Neteller, this e-Wallet is extremely quick and easy to use. Most casinos accept payments using Skrill and so you can quickly and easily make deposits and withdrawals using the service.
Thanks to its ease of use, Skrill is very popular amongst casino players and is a great choice if you’re looking to make fast payments.
- Bitcoin and other Cryptocurrencies – Bitcoin and other cryptocurrencies are less commonly accepted than other types of payment method but can be a useful way to make safe payments online.
Depending on which cryptocurrency you use, some payments can be faster to process than others but are usually still much faster than bank transfers or credit and debit cards.
Things to Remember When Making Deposits and Withdrawals at Online Casinos
Before you sign up for an online casino and get started there are some things you need to be aware of first. It’s important to be clear on several things because, at the end of the day, it’s real cash that you’re depositing onto the site.
First of all, check to see if the site has a welcome bonus. Most online casinos give out special bonuses to new players that sign up for the first time. If you’re unsure, check out our review of the site for full details on any casino bonuses offered. A lot of bonuses will be dependant on your first deposit so to get the maximum amount, make sure you check the terms first. Some deposit bonuses also won’t count if you use certain payment methods so be sure to read all of the conditions in our review of the site.
Be aware that some payment methods are country-specific, that is, a casino might accept PayPal in one country but not in another. Check out our country-specific casino list to find the best online casino that’s available in your area. If you’re not sure what payment types are available to you, check out the full terms either in our review or on the site.
Different casinos will take different lengths of time to process withdrawals. Although this can be frustrating, many online casinos will take between a few hours to a few days to process your withdrawal. The best online casinos will always process your payments quickly, giving you the cash in your bank as fast as possible. Check out our site reviews to find the casinos which process withdrawals the quickest.
Make sure you check out the terms such as minimum and maximum withdrawal and deposit limits too. The last thing you want if for a casino to have a really low maximum withdrawal limit that prevents you from collecting all your winnings in one go! Some online casinos may also charge a fee for withdrawals and if that’s the case, we’ll let you know in our review of the site.
Lastly, your first withdrawal on any online casino may take longer than others as sites usually need to check your ID and make sure they’re complying with laws and regulations. This usually takes a day or two as long as you have a copy of your ID and proof of address available. Once these are provided, your withdrawal should get processed and any future withdrawals should be a lot faster.