When it comes to getting to grips with online gaming, people often struggle with understanding how to deposit funds and withdraw winnings. But it doesn’t need to be such a difficult endeavour, as it’s really simple at the core.
Put simply, online casinos these days offer such a wide selection of payment and withdrawal methods that are efficient, quick and super secure. So we’re certain there’ll be one that will suit your needs and ambitions.
Whether it’s the amount of security, associated fees or even the ease-of-use of each option, we’ve got it covered. Keep reading for a breakdown of all the payment options at your disposal and how to spot the right one for you.
Recommended Payment Providers
EntroPay has been going since 2000. It was initially established as the first virtual prepaid payment card in Europe, which enabled people the security of using a card, without the effort of opening a new bank account.
Maestro is one of the biggest payment methods around. The service is the debit card version of MasterCard, which is one of the biggest, and most secure, payment companies on the planet.
One of the biggest credit and debit companies on this company, Mastercard use their enormous scope to provide cutting-edge security and peace of mind to its global network of users.
With over 179 million active users worldwide, PayPal is one of the biggest internet payment companies around. It initially rose to fame owing to its relationship with eBay, but continues to get bigger and better.
paysafecard is a revolutionary pre-paid card. It takes the risk out of online transactions by not requiring a credit card nor a bank account to be associated with the account. You buy the card in cash from a sales point and use it from there.
Skrill is an e-wallet system that is quickly rising to the top. It focuses on low-cost international transactions and takes the hassle and fuss out of paying for services online.
VISA Electron is the alternative debit card by finance giant VISA. It’s usually associated with bank accounts that hold no overdraft. It’s one of the most secure way to conduct online transactions around.
VISA is a multinational electronic payment system, which is co-owned by banks, building societies and other financial companies. More than 70% of VISA transactions in Europe come from VISA.
Neteller has been around for over 10 years, enabling customers in over 200 countries to transfer money online and make use of e-wallet services.
Bank transfers, despite being seemingly old-fashioned, continue to be popular among gamers. That’s because you can directly transfer any funds from your bank account to an online casino without incurring any middlemen and their pesky fees.
Your options include:
Bank Wire – This is done either by going into your bank branch or via online banking. It usually takes up to three working days to clear.
Instant Bank Transfer – This method also involves going into the branch or using online banking facilities to transfer funds, but in this case it’s instant.
Cheque – This is probably the most old school way to add funds to your account. It can take an absolute age as you have to wait for snail mail to deliver it and then for the cheque to clear.
Debit cards are directly linked to your bank account, and afford you a quicker way to deposit funds than bank transfers usually do. What’s more is that there are almost never any fees associated with using a debit card.
These are usually the most widely accepted debit cards around:
Unlike the aforementioned debit cards, credit cards are not directly connected to a bank account. They are essentially a loan facility provided by a financial institution. Any funds transferred from a credit card are ‘borrowed’ from your credit card provider and, if they aren’t repaid by the agreed date, will incur interest.
Transfers for credit cards are usually instant, but many online casinos charge small fees for their use.
These are the most widely accepted credit cards around:
Prepaid cards essentially function like debit cards, but rely on you topping them up with cash at a bricks-and-mortar point-of-sale. This function not only protects your bank account and any other associated information, it also makes it easier to control your spending. Do note that not all cards are physical; some only come in virtual formats.
Almost every transfer is instant. There are sometimes reloading or spend fees associated with the cards, but these vary according to the provider.
Some of the most widely accepted prepaid cards include:
paysafecard (owner of former UKash service)
Instant Payment Services
Instant payment services are essentially security barriers between your chosen bank account and the online casino you’re trying to deposit to. You just need to create an account with the instant payment service and input your account details. You can then log in and make payments.
Transactions are usually instant. Most are free to use, but some apply a small transaction fee. Online casinos will not charge you for using this service.
Some of the most widely used instant payment services include:
iDebit (formerly Instadebit)
e-Wallets are becoming more and more popular as they provide services that combine elements of both prepaid cards and instant payment services. Although, we should warn you that the exact process differs depending on the service provider. Some need you to load up your account before you can make payments, whereas others will debit you later. One of the biggest benefits of this is the ultra security systems they enforce.
Transfers are instant, unless there are additional protections in place. Fees sometimes vary and can be applied to deposits into your e-Wallet or on transactions performed by the provider. But online casinos rarely charge players for paying via e-Wallet.
These are the most widely accepted e-Wallet providers:
Bitcoin and BitGold
In addition to the more traditional methods, there have been some recent fascinating developments that are looking to shape-up online gaming. Most well-known of all is Bitcoin, that online cryptocurrency that’s taken the world by storm. It offers users anonymity and the peace of mind of multi-layered protection. Another service hot on the heels of BitCoin is BitGold which eschews traditional currency for trading in gold. It’s proving to be a big hit as it has an added level of security and is less prone to localised issues affecting its value.