Casino Funding Method to Cashout Winnings
An important consideration, when choosing a casino to play at, is how you will make deposits and withdrawals. As a result, casinos offer a variety of ways to manage your account balance. Here we detail the available banking options, outlining the different features of each.
Credit/Debit Card - Most Widely Available
Being the most commonly accepted online payment method, those with a Visa or Mastercard should have no problem making a deposit with any online casino operator. If you have a Maestro or American Express card, you may find yourself more restricted, but there will still be casinos that accept these. Deposits made with debit/credit cards should appear in your account instantly.
When it comes to requesting a withdrawal, the speed of pay-outs tends to be around 2-3 days. The main downside of this payment method is the need for players to provide full card details to the casino.
E-wallets - Secure Deposits & Withdrawal
E-wallets provide players with an extra layer of security, compared to debit/credit cards. They do so, by allowing funds to be added and withdrawn without casinos recording your bank details. The most popular of these include PayPal, Skrill and Neteller.
As with debit/credit cards, deposits made with e-wallets will appear in your account immediately. Getting cash out also takes a comparable amount of time - between 2 and 3 days.
Prepaid Cards - Greater Anonymity
Prepaid cards are becoming more popular, as they provide greater anonymity to users. One of the most established providers is PaySafe, which mixes elements of online and offline transactions. PaySafe cards can be purchased from physical stores and provide buyers with a voucher code. Entering this code will add the cards value to your casino account balance.
PaySafe cards offer robust security, given that no card details are shared at any point. However, when it comes to receiving pay outs, another banking method will be required as these can't receive funds.
An alternative to PaySafe is Entropay. EntroPay is an online account that gives you a prepaid virtual Visa card. This can be used for online purchases wherever Visa is accepted.
Wire Transfer - Best for Large Deposits and Pay Outs
Whilst e-wallets and prepaid cards offer customers added security, casinos often impose limits on these payment methods. This is due to the level of anonymity attached to them.
High rollers, therefore, tend to favour wire transfers. This is because they allow large transactions to be made, without compromising security. Drawbacks do exist, however, in that withdrawal requests usually carry a fee. In addition, all requests are processed manually by the banks. This means it could take up to 7 days to cash out your account funds.
Cryptocurrencies - Quickest Way to Cash Out
The most common cryptocurrency used for this method is Bitcoin. Bitcoin, and other cryptocurrenies, are growing in popularity due to the speed and privacy they can offer users. In the case of withdrawals, you can reduce the wait for a pay-out by days. Similar to e-wallets, no personal banking information needs to be provided to casinos.
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