Figuring Out Online Casino Banking Methods

In order to enjoy the full benefits of online casinos, players must be able to move funds to and from the casino. This is done by making use of each online casino banking options. Such methods will always vary from one casino to the next and might be different for new Pragmatic Play casinos, so it’s important to make sure you will have at least one viable method of making deposits and withdrawals at an internet casino before you bother signing up.

In this section, we’ll detail some of the more common methods of deposits and withdrawals.

Credit/Debit Cards

Credit and debit card deposits are the most preferred of all money transfer methods at online casino sites. Just about every online casino accepts credit card deposit, and usually debit card deposits as well. They are instant and incredibly convenient for most regions of the world. US players have been known to have trouble depositing via credit/debit card ever since the UIGEA prohibited financial transaction between US players and offshore online casinos. Credit/Debit cards are generally less accepted as withdrawal methods. MasterCard does not accept withdrawals at all, while Visa will often permit a withdrawal so long as it does not exceed that original deposit amount. For instance, you deposit $100, you win $200, you will only be able to withdrawal 100 through Visa; the remainder must be withdrawn in some other way.

Online Payment Processors

Another common purchase method for casino players is an online payment processor. There are plenty of these companies on the Internet, like NETeller, Moneybookers, PayPal, Click2Pay, ClickandBuy, eWalletXpress, EcoCard, the list goes on. Like opening an online bank account, players can register with a free, secure payment processor and upload funds directly to that site via credit/debit card or direct bank account linking. These funds can then be transferred instantly to an online casino account. Online payment processors are most often used as the preferred withdrawal method for players who have deposited in this manner.

Instant Check / E-Check

This deposit method is heavily favored by US players at online casinos. Just like a paper check, the player fills in the same details, but over the internet. Because the online casino can use the routing code and bank account # to immediately check on the availability of the funds. So long as the funds are there, the online casino will approve the deposit right away, giving you instant access to the deposit for use in the casino, even though the casino will not actually receive the funds for around 10 business days. Some online casinos will provide E-checks as a withdrawal method, but this they are much less common.

Bank Transfer

Another casino banking option is to send the funds directly from your bank to the bank of the internet casino. This is often referred to as a wire transfer. You’ll have to get the casino’s banking info from the casino itself, then contact your bank to facilitate the deposit, which could take a few business days to become accessible in your casino account. The opposite method is used to withdrawal via bank transfer. Note that there are often sizable fees associated with bank wire transfers, though sometimes the online casino will cover the cost if the deposit/withdrawal is large enough.

Cash Transfers

Cash Transfers are processed through companies like Western Union and MoneyGram. You’ll first have to get the appropriate information from the online casino, then head to the nearest cash transfer agent and make the deposit. Note this can often be done online as well. Once completed, get the transaction ID, date/time of the deposit and exact amount. Send this info to the virtual casino and they will confirm the transfer. Your funds should be available in about 10 minutes or so. Some gaming sites will allow cash transfers as a withdrawal method, but like bank wires, they can be costly. When the deposit/withdrawal is large enough, it can be worth it.

Bank Draft/Money Order/Paper Check

Finally, you can always toss a check in the mail and wait for the funds to become available in your online casino account. This is one of the most secure methods out there, but also the most time-consuming. You must wait for the mail to arrive, then for the check to clear. In the case of bank drafts and money orders, the transfer is faster since there’s no clearance time. Check withdrawals are also extremely popular, especially for US players. Though it can take an up to few weeks, they are very secure, and won’t be denied for processing.