Types of online casino Banking Methods
Numerous companies are offering various services to satisfy your e-commerce needs, but all of them usually fall into one of five specific categories: Bank Transfers, Instant Banking, Credit and Debit Cards, E-Wallets, and Prepaid Cards/Vouchers.
1. Bank Transfers
These sorts of payments are done straight from your bank account into the casino's account when depositing, or vice versa when claiming withdrawals. Either, you can go to your bank and request a wire transfer over the counter, or simply log in to your online banking profile and complete an EFT payment to the casino account. When claiming refunds, you will have to supply your bank account details to the casino.
The only disadvantage of this form of payment is the time it takes to clear funds. Should you make a deposit, it may take anywhere from 1 to 3 days before it reflects on the casino end, which means you will not be able to play straight away.
2. Instant Bank Transfer
There are several third-party service providers, like Instadebit, Citadel, Sofort, and Trustly, that afford you the service of clearing bank EFT transfers in real-time, so that you can enjoy immediate access to your funds on the site. Unfortunately, you cannot withdraw funds in this way.
The provider pays the casino instantly and then awaits your bank’s clearance to recoup their payment. This is a very safe way of transacting, as your data is not inputted into the casino site at all, but rather the service facilitates the transaction with bank-like security encryption.
3. Credit and Debit Cards
Most casinos accept Visa and Mastercard transactions. This form of transaction is fast on the deposit end but has some delays when withdrawing in this fashion. Unfortunately, inputting your credit card details on online forms always has a risk attached. Despite all risks, this continues to be a favourite online casino banking method.
Electronic wallets act as a third-party virtual wallet, whereby you can deposit and withdraw funds easily. Merely top up the wallet from your bank account and pay directly from the wallet to the casino without inputting any sensitive information.
There are very few downsides to e-wallets, but instead, they offer great security and instant deposit and withdrawal times. Popular e-wallets at online casinos include Neteller, Skrill, EcoPayz, Ozan, and PayPal.
5. Prepaid Cards/Vouchers
Prominent forms of vouchers include names like Paysafecard. This casino deposit method does not allow for money withdrawals but does offer a very safe and speedy way of depositing cash at online casinos.
The cards can be purchased for various values over the counter in stores in many countries around Europe. Entering the voucher code on the cashier page of the casino will instantly top up your bankroll for instant playtime.