Online Casino Guide | Banking Options

When selecting a payment option to use at an online casino, it’s important you know exactly what’s involved. There might be specific fees attached to each type of transaction or fees and charges for depositing at the online casino itself. This is not a choice you should make lightly because you may end up spending more money just because you use a certain type of payment method. You should in any case always check the terms and conditions associated with the payment option for each online casino you choose to use as many will differ. Here is a list of some of the most popular banking options for depositing and withdrawals at an online casino.

Cheques

The cheque is a payment through a bank or financial institution. The drawer (person who draws the cheque gives the order to a bank (the drawee) to pay a sum of money to the beneficiary. The cheque is issued and signed by the account holder, or by a person with power of attorney over the account, over to another person mentioned in the "payable to". The recipient will present the cheque to his bank for payment. It records the amount credited to the recipient and retrieves the amount credited from the bank of the issuer and the issuer's account is then debited.

Click2Pay

Click2Pay is today one of the best new online payment methods. It is easy to understand why this payment option is so popular, for it is very easy both to register for it and to use it. After the customers have entered their Click2Pay details, the company will verify the information to see if there is enough money in their bank account or on their credit card to complete the transaction. If there is sufficient liquidity, it will be transferred to the merchant's account. This means that users will pay Click2Pay and not the merchant site.

MasterCard

MasterCard credit cards are issued when an account has been approved by the bank. Once the account is approved, the cardholder can use it to make purchases or transfers on Internet sites that accept MasterCard. The purchase is essentially an agreement by the holder of the credit card, who agrees to pay MasterCard the purchase amount. In the case of online transactions, the cardholder authorizes the purchase by entering a personal code. In this case, the seller uses an electronic verification system to ensure the validity, as well as the solvency, of the credit card used. This verification system accepts additional information from the customer, including the security code and date of birth.

Skrill

Skrill is a leading electronic payment system which offers a deposit and withdrawal system that is very well suited for online vendors, small businesses and individuals. Electronic wallets offer transaction times that are much faster than conventional banks. Skrill has emerged in recent years as a leader in this market. There are several reasons for this, the first being its very competitive rates for deposits and withdrawals. To create an account, you only need a valid email address. To deposit funds, Skrill offers three solutions; the transfer, which is free, instant card deposit and by cheque.

Neteller

Many people use Neteller to transfer money because it is a secure and convenient method. Once you have opened an account, all you have to do is enter your Neteller account identifier and your security code. Then, you simply enter the amount you wish to send from your Neteller account. Transfers are effectuated in real time. People using Neteller do not need to enter their bank details or credit card on every site. It suffices for them to enter their particulars one single time on the home site. Neteller then enables rapid and secure transactions to be effectuated on a great variety of websites.

PayPal

By using a free account on the PayPal site, you can send and receive funds at their discretion, the sole requirement being that your credit card number is given at the time of registering. With PayPal, funds may be sent to a third person at any time, money may be received that is sent to the destination of the account owner and payments can be made on merchant websites. PayPal allows for transfers in 90 countries, among which are France, Austria, Belgium, Germany, Italy, Poland, Switzerland and of course the United States. The money is available in the account owner’s account within three working days. PayPal is accepted on merchant websites and by the majority of online casinos.

Reverse Withdrawal

Reverse withdrawal is based on a simple idea: when a player withdraws money from his online account, the casino does not debit the account immediately; rather, the amount transferred is placed on hold, during which time the player can change his mind and re-deposit the amount into his online account. You then have to go into the banking section and select the “reverse withdrawal” option. Once that is done you’re offered a list of pending amounts that may be reversed. It then suffices to select the amount or amounts that you wish to re-credit.

Visa Debit and Credit Cards

Visa offers a debit card. Like most debit cards this card can be used as a credit card for online shopping. The difference between the two types of cards (credit / debit) is the fact that the debit card is directly linked to the bank account, which allows you to directly debit the amount and avoid spending more than what, is available. Visa credit cards operate on the same principle as other credit cards; they require approval before the cardholder can use it to make transactions. This is true for online casinos where Visa uses the additional security called "Verified by Visa" to determine if the client has a valid card.

Western Union Transfer

Western Union offers a way of sending money transfers. You will have to fill out a “send money” form, providing full name, a form of identification, an address and a telephone number. This will have to be done both for the sender and the addressee (the receiver of money). As soon as the transfer has been validated by Western Union, the receiver can go to their nearest agent location with the tracking number that has been communicated by the sender and pick up their money. So it’s a very simple procedure – even homespun, and one that has the merit of being highly reliable.