Playing online casino and claiming casino bonuses is fun but cash deposits and withdrawals can be a bit complicated to understand. It can be difficult to understand which method you should opt for. But don’t worry!
This in-depth online casino banking guide will walk you through every method step by step. This guide has several online casino payment methods, licensed online casinos, and steps that make sure your financial information is secure.
Online Casino Payment Methods
Many payment methods offer secure transactions at various transaction fees. Some of these methods are fast while others offer affordable charges. The most popular payment methods are:
- Visa Credit or Debit Card – You can use your Visa credit or debit card to fund your casino account. The deposit by using Visa debit or credit card is quick and secure so that you can top your casino wallet within a few seconds.
- Maestro – Maestro cards are accepted at most of the casinos. Simply use your Maestro card and transfer money from your bank account to your casino wallet instantly.
- MasterCard – Being one of the most popular payment methods, Mastercard is a perfect choice to load your casino wallet. Use MasterCard at any licensed online casino. It offers a quick and safe alternative to the other payment methods.
- Amex – American Express can be used for quick and reliable payments. Its fast and seamless transfer can give you a real sense of online casino. Not to mention, it offers one of the most secure payment platforms to casino players.
- Neteller – Neteller is a safe and secure online wallet. It can be used to transfer funds from Neteller wallet to an online casino account. The transaction can be completely anonymous and confidential.
- Click2Pay – Another online wallet that lets you transfer money to your casino wallet quickly. It charges quite low for British online casinos.
- Skrill – Skrill offers one of the most secure online, quick, and safe money transfer. Every transaction is secured and the payment provider also offers quality customer support.
- Skrill 1-Tap – This payment method allows you to transfer money from your Skrill account to your casino account in just one tap.
- PayPal – PayPal is known as one of the leading payment providers throughout the world. PayPal offers a virtual wallet that can be funded from various sources such as bank account, credit card, debit card, and more. Making deposits with PayPal is free but withdrawals cost a nominal fee.
- Paysafecard – Paysafecard offers a unique prepaid wallet that can be used for electronic transfers without any bank account, credit card, or e-wallet.
- Apple Pay – Use your Apple iPhone for quick and easy online funding to your casino account through Apple Pay. All you need is your Apple ID and your credit or debit card.
- Bitcoin – This relatively new but powerful payment method is being used by many online casinos recently. It allows users to process transactions without disclosing banking information. Bitcoin transactions offer the most secure casino deposits and withdrawals to the players.
- Trustly – This payment method has no transfer fees and downtime. It is the most popular payment method for casino players.
- EcoPayz – Transfer funds from your EcoPayz account to your casino wallet instantly. It is a quick and reliable payment method.
- EntroPay – EntroPay consists of the features of an online prepaid card in an online wallet gateway. Fund your casino wallet and start playing within some seconds.
- Pay By Phone – Use Pay By Phone to add your casino amount to your phone bill. It just requires the phone number and deposit amount.
- Bank Transfer – Otherwise known as wire transfer, the bank transfer is a safe and secure method to load up your casino wallet. It is one of the quickest and easiest method for online casinos. There’s no requirement of using a credit or debit card if you choose bank transfer. The bank itself will ensure the safety of your data. You can deposit the funds directly from your bank account to your casino account. In addition to the deposit, you can also process a withdrawal from the bank account. Being the most reliable option, a bank transfer is also cost-effective.
Withdrawal Timings
Choosing an ideal payment method is crucial if you are an online casino player. But a payment method should be fast enough to process the funds as soon as you need them. Transaction times vary from casino to casino and it also depends on the payment method.
Online wallets are quick to transfer the amount however, the bank transfer method may take up to five working days. The withdrawal timings also vary from one payment method to another. The funds can be withdrawn after complete verification. If you think it is taking too long, you can contact the customer support of that casino website.
Average withdrawal times vary as follows:
- eWallet – 1 working day or instantly
- Credit/Debit card – 1 to 5 working days
- Regular bank transfers – 1 to 5 working days
- Express bank transfers – next working along with the processing charges deduction
Online Casinos That Have Quick Withdrawal Times
If the withdrawal time concerns you the most, go ahead and use the casino platforms that have the quickest withdrawal times. For example, AHTI Games and PlayOJO are some of the fastest online casinos in the UK.
Is There Any Limitation?
While most casinos allow a certain amount to be deposited and withdrawn from the accounts. But there is a limitation on both the deposit, as well as withdrawal of money. There are a set minimum and maximum amounts that you can deposit and withdraw from your account.
The amounts vary from casino to casino. However, the limits vary from £5 to £20 for the minimum deposits. Whereas the maximum deposit varies from £1,000 to £5,000.
In the same way, withdrawal limits are also predefined by every casino. The general limit of withdrawal is limited on a per week or per month basis. It mainly depends on the casino that you are playing with.
The deposit and withdrawal limits are also divided by the number of transactions by each player. If you have any doubt, you can always consult with the customer support team of your casino.
Is There Any Payment Fee?
While most casinos avoid charging their players when they deposit any fund, sometimes you will be charged by the payment providers. If monthly withdrawal limits are increased, the same goes for the withdrawal processing.
You will be charged an additional amount for processing withdrawal requests. In addition to this, online casinos also levy extra charges on banking transactions or additional monthly withdrawal requests.
How Casino Websites Secure Player’s Data and Transactions?
The UK Gambling Commission has made it a requirement to deploy an SSL certificate on casino websites. The SSL certificate protects the sensitive data of the players. In this way, any information regarding the payment methods including credit or debit card, or bank transfer will not be exposed to hackers.
According to the Money Laundering Regulations 2017, online casinos should also have an anti-money laundering scheme. Additionally, every casino should make sure that a regular risk assessment is done by the team to protect the data of the players.
The casinos are also required to maintain the customer due diligence for at least five years and any money laundering or fraud should be immediately reported. Some online casinos also use PCI DSS (Payment Card Industry Data Security Standard) to protect transactions that are conducted through cards.
Another security feature of online casinos is Player Fund Segregation. According to this safety measure, as mentioned by the UK Gambling Commission, the player fund should be separated from the operational fund.
This segregation is further divided into three categories – basic, medium, and high. In basic segregation, the player’s fund is not protected and will be merged into the casino’s funds if it becomes bankrupt.
Medium segregation, on the other hand, ensures that your money will be returned in case of bankruptcy of the casino but it is not assured. The high player fund segregation ensures that your money is separated from the casino’s fund and you will be refunded should the casino goes bankrupt.
Conclusion
Online casino banking goes long way than just deposits and withdrawals. By now you must have known which banking method is best according to your requirement. There are certain limitations attached to every banking method. You should always select a banking method that charges low and has an extra layer of security.
The UK Gambling Commission has done an excellent job to protect players from any fraud by casinos. These standard requirements and protocols ensure which casino platform is safe. As explained earlier, a casino that has medium or high segregation is the ultimate choice for complete peace of mind.
Once you have identified which casino is best for you, another step is to choose the ideal banking method. Choose any of the above and if you have any questions, you can always reach out to the customer support team of the platform.
