Casino Banking Methods
Before you can play real money online casino games, you may need to deposit money into your casino account. The good news is that there are several banking methods supported by online casinos. However, these banking methods vary in terms of their features. In this article, we will discuss some of the popular casino banking methods as well as things you need to consider when choosing one. You can check https://www.newzealand-online-casino.org for reviews of online casinos with the best banking methods.
Types of Casino Banking Methods
The banking methods used by online casinos can be categorized into five types - Debit/Credit Cards, E-Wallets, Cryptocurrency, Mobile Pay and Offline Methods. Among these categories, Debit/Credit card is the most popularly used. This is because it is highly secure and easy to use. To deposit with this method, you will need to provide your card details and the pin. In some cases, you may also be sent a One time Password (OTP), which will be requested to complete the transaction. Examples of Debit/Credit Cards are Visa, MasterCard and American Express
Electronic wallets or e-wallets is a banking method that allows you to add multiple credit/debit cards. The major advantage of this method is the speed of processing whether you are depositing or withdrawing money. Besides that, it uses sophisticated technology to secure people’s money. However, one thing about e-wallets is that players are usually charged a processing fee when they use it for withdrawals. Besides that, the currency conversion rate of most e-wallets is lower than the market value. Examples of e-wallets are Skrill, Neteller and Paypal.
Cryptocurrency is a quite new payment method currently accepted by only a few casinos. It offers user security and anonymity. This means that when you use this method you can be assured that it is completely safe. One downfall of cryptocurrency is that it is highly volatile. So, the value of your money may tend to fluctuate easily. Examples of cryptocurrencies accepted by some online casinos are Etherium, Bitcoin, and Litecoin. In some cases, you may be charged a processing fee when using this option.
- Credit/Debit card is the fastest payment option.
- Some payment options require you to pay processing fees.
- Not all payment option supports both deposit and withdrawal.
Mobile Pay and Offline Payment Methods
Mobile Pay is also a new payment method that is supported by a few casinos. It allows a player to fund their casino account from their telephone bill. It is a moderately secure and fast payment option with no hassles. However, unlike the other methods mentioned so far, Mobile Payment option cannot be used for withdrawals. Additionally, there is a small limit to the amount that you can deposit per day using it. Examples of popular Mobile Payment options are BOKU and PayForIt.
Online casinos also support offline payment methods. One such method is the use of cheque for deposits and withdrawals. While cheque is quite secure, it is a slow means of payment. When you write a check to deposit money into your casino account, it may take up to 5 days for it to be processed. Some casinos allow players to fund their account by going to one of their land-based outlets. There you can pay real cash and have it deposited into your casino account.