Everything You Need to Know About Online Casino Banking Methods
With plenty of banking options available in online casinos, you may easily get confused on the best ones to choose. To make it easy for you to choose the best payment methods, we have researched the top casino payment methods. Visit http://www.laquays.com/ for the best online casinos.
Why Banking Methods Matter
Among the most important aspects to pay attention to when choosing a casino is the banking methods supported. This is because you'll be depositing and withdrawing money from the casino. If you don’t check the banking methods, you may end up not being able to withdraw your winnings.
There are a few casino banking methods that are used worldwide, while some are specific to a country or region. By checking the methods offered you can know which one is the right for you. Some payment methods process transactions for free while others may deduct processing charges.
- Some payment methods are for deposits only while others are for both deposit and withdrawal.
- The banking method supported by a casino will determine how you can deposit and withdraw winnings.
Types of Casino Banking Methods
As stated earlier, there are many banking methods that are used in online casinos. These methods are popularly categorized into four types – Credit/Debit Cards, e-Wallets, Cryptocurrency, and Mobile Pay. Each method has its own advantages and we will discuss them in the later sections.
Each payment method supported by an online casino has a minimum and maximum amount that you can deposit at once. Always check the banking page of your casino to know the limits and avoid any issues. The best casinos have a moderate limit on deposit.
Credit/Debit Cards Option
Credit/Debit cards are one of the most used payment methods in online casinos. This is because they are safe and easy to use. Several security measures are implemented in the payment method to protect players’ money. One such is the one time password required for a transaction.
Credit/Debit cards are usually linked to a bank account and you can use it for both deposits and withdrawals. Examples of popular credit/debit cards are MasterCard, Visa, and American Express. Most credit/debit card platform does not charge processing fees for deposit or withdrawal.
- Credit/Debit cards can be used for both deposits and withdrawals
- It usually uses two authentication security, a Pin and a One Time Password (OTP)
E-Wallets Payment Method
E-wallets is another type of payment method that is gaining popularity among casino players. This is because of its fast processing time and the ease of keeping track of all transactions. With e-wallets, you can add multiple credit/debit cards and fund your wallet through them.
Examples of popular e-wallets are Skrill, Neteller, EcoPayz, Paypal and InstaDebit. Most e-wallet platforms require you to pay processing charges when you deposit or withdraw money. Besides that, e-wallets can hold more money than most payment methods, and this makes them good for withdrawing big winnings.
- Processing of transactions is fast on e-wallets.
- Most e-wallet platforms charge processing charges for deposit and withdrawal
Cryptocurrency and Mobile Payment Methods
Cryptocurrency is one of the new payment options accepted by online casinos. It is a safe method that offers complete anonymity. However, if you plan to use cryptocurrency, you need to be aware that it is volatile. Examples of cryptocurrency options are Bitcoin, Litecoin and Etherium.
Besides cryptocurrency you can also use mobile payment methods such as Boku and Payforit, These options allow you to deposit money using your phone bill. However, the maximum deposit limit is usually low and you cannot use it to withdraw from your casino account.