We all want a fast, safe and seamless experience when it comes to online casino payments. Truth is, online casino banking has evolved a lot over the last couple of years with many new online casino payment options. So, if you’re looking for a thorough guide on everything that has to do with online casino deposit and withdrawal methods, keep reading!
Note: The table below presents all payment methods available followed by a guide next to each method providing all relevant info about that payment. In the 3rd column, you can see how many casinos offer that method for deposits and withdrawals. Last, the “Best Casino” column features our recommended casino for that specific payment method!
Online casino deposit methods: Which should you pick?
To start this journey through online casino payment methods, we are going to list the main categories of different deposit options you get after creating an account at an online casino. Online casinos do their best to deliver diverse deposit options so that players can put in money fast and safe no matter the device they are using or the jurisdiction they are playing from. So, without further ado here are the most popular deposit methods for online casinos.
Credit Cards & Bank Transfer
Probably the most used online casino payment method, credit and debit cards have been around for much time now. The vast majority of online casinos are accepting payments via VISA and MasterCard. Some casinos might also accept American Express, but you might have a difficult time finding those. Maestro cards are also allowed in some casinos, however, you should check the availability first.
The advantages of credit cards include wide availability, no fees for your deposit, high security through 3D Secure. As far as cons go though, the only thing we could list would be that the first deposit could take a long time inserting the long card number and other details.
In the beginning, bank transfers were the only method available for sending money from one person to another. Naturally, this form of payment was quickly adapted for online casinos from early times of the online gaming phenomenon. You can opt for a Direct Bank Transfer which means telling your bank to send the money over to the casino account or use one of the many Instant Banking options such as POLi, Klarna, Giropay, iDEAL, EPS, Instadebit, iDebit, or Interac.
Pros for bank transfer include incredibly high-security standards, mobile-friendliness, multiple options per country. For cons, we would add that bank transfers usually take longer to be processed, so if it’s speedy transactions you’re after you might be a bit a letdown.
Since their introduction, eWallets enjoyed massive popularity among online casino players for their flexibility, increased security and the fact you could access everything online. eWallets like PayPal, Neteller, Skrill or EcoPayz, or Nordea are the preferred payment options for millions of casino players worldwide. Their advantages include the ability to upload funds from many different other payment options, instant transactions and fast payment process. As far as disadvantages go now, withdrawing cash from the ATM is difficult with some eWallets, so it would be good to consider that too.
The currency of the future, as many cryptocurrency enthusiasts call it, Bitcoin was the first cryptocurrency to be widely used in online casinos that are always open to innovation and new technology. Slowly, other cryptocurrencies managed to grow, and you can now play online casinos using Ethereum, Litecoin or Dash. Cryptocurrencies have many advantages, such as the complete anonymity you enjoy, transparent money transfers, as well as the possibility of increased value over time. On the flip side though, just a few online casinos are onboard with accepting cryptocurrencies, and there are usually fees.
Along with the rapid development of mobile casino apps and the shift towards mobile devices in general, a new wave of dedicated mobile payments started to appear. Most of the players that prefer mobile gaming make their deposits through Zimpler, Boku or Payforit. Also, most of the other payment methods are compatible with mobile phones as well. Mobile payments have increased efficiency, you can pay through your phone bill, and you also enjoy fee-free transactions. However, most mobile casino deposit methods can only be used for deposits.
Prepaid and Virtual Cards
If you don’t have a bank account and you do not want to register an account with an eWallet or any other payment option, you can always choose to go with the prepaid cards available on the market. You can buy a Paysafecard with money from thousands of shops around the world or get a prepaid VISA card. Alternatively, if you are not comfortable with sharing your banking details online, you can use Entropay to generate a virtual card. Prepaid and virtual cards offer top-notch security at no extra fees. However, prepaid methods such as Paysafecard only come in fixed amounts, which is a considerable drawback.
Which online casino deposit method is the best?
After analyzing player choices in multiple casinos, we can safely say that eWallets are the best choice when it comes to making a deposit. And it makes a lot of sense considering the instant payment, lack of fees and ease of use.
You can top-up your eWallet balance with your card, from another ewallet, using a prepaid or even through bank transfer, making it one of the most versatile payment methods available. If you choose an eWallet like Skrill or Neteller that allows you to generate a prepaid MasterCard, cashing out at an ATM is no longer a problem as well.
Minimum Deposit Casinos: Why prefer them?
Since we are on the subject of deposits and payment options, it is worth mentioning minimum deposit casinos since not all casino players are high rollers or can afford to play with big amounts. These casinos are focused on delivering the thrilling and captivating igaming experience to those players that do not have a big budget.
Minimum deposit casinos, like a £5 minimum deposit casino that’s popular in the UK for example, make it easier for players that don’t have a huge balance to enjoy the games that are not accessible in demo mode. Also, playing at a 1 dollar minimum deposit casino gives you the chance to see the entire offer of games and features that wouldn’t usually be available on an account with no deposits.
It doesn’t mean that a casino with a 1 euro minimum deposit is a place that only appeals to players with lower budgets, as the same casinos can easily accommodate high rollers as well. It’s all about diversity and making online casinos widely reachable.
Online casino withdrawal methods: Which ones are the fastest?
Naturally, players are not only interested in being able to make fast deposits with no fees. Sure, being able to play faster is essential, however, the most crucial part of the process is to be paid just as fast and without additional taxes. These are the most popular and efficient online casino withdrawal methods available.
Credit/Debit cards & Bank Transfer
VISA cards are ideal for making withdrawals since some types of MasterCard and Maestro cannot be used for withdrawals in many countries. Casinos usually mention this on their banking page, and you can double check with customer support if needed. You should get your funds in 2 – 3 business days for any withdrawal via credit card with no extra fees. On the other hand, players that cannot count on any other withdrawal method choose bank transfer withdrawals. Probably the slowest withdrawal option, bank transfers also require much information.
Offering almost instant withdrawals and no added taxes, eWallets like Skrill, PayPal or Neteller are players’ favorites when it comes to cashing out. Safety is guaranteed through numerous high-tech systems, and that also makes a big difference.
Withdrawing your funds in cryptocurrency is just as fast and straightforward as with depositing using these alternate currencies. You might face some fees for processing, however, you have the advantage of a higher value depending on the market evolution.
Zimpler is the best way to go if you want to withdraw your winnings through a mobile payment method. Most of the other mobile payment methods are only available for deposits.
Know Your Customer Procedures & Accepted Documents
Even though most online casino players dislike this part of the entire gambling experience, KYC procedures have a very important role in the overall safety and quality of services provided by a casino. No matter what casino payment options you go for, this step is mandatory.
These procedures are most of the time enforced by the regulatory body in tight connection with Anti-Money Laundering efforts (AML), and the final purpose is to be able to verify the identity of players to make online casino banking a safer and better service.
The KYC process can be summed up in sending a couple of documents over to the casino that confirms your identity, address, and means of payment. Some casinos ask for these documents right after registration to get the whole process out of the way and allow faster payments when you score your first win, while others do it when you make your first withdrawal request.
Most common KYC documents
When it comes to KYC, there are certain types of documents that online casinos will usually ask players to provide. Collecting all those beforehand and having them ready will save you a great amount of time, when the site asks for them.
- Photo ID
During KYC you will be asked to send a copy or picture of your photo ID to verify your age and identity. For countries that are members of the EU, the national identity card is ideal as proof of identity. That can also work for other territories like Canada or the UK. However, a passport or driver’s license is also widely accepted.
- Proof of address
To verify the address specified during the registration process, you should send any utility bill or official document sent by the government that was issued in the previous 2 or three months and contains your full name and physical address.
- Proof of payment
This step of the KYC procedure is usually only necessary when you deposit with a credit or debit card. You will be asked to send copies of the back and front of the card you used to deposit while making sure you cover some of the card number and the CVV on the back. The Finance departments of casinos can verify other online casino payment methods directly online.
Online casino banking: How to deposit and withdraw
As many of you already know, the whole process of making a deposit or requesting a withdrawal follows specific steps that can slightly change from one online casino banking system to another. However, the basic principle stays the same.
after you create the account, look for the “Deposit” button that will take you to the banking section. Choose the preferred method from the casino payment methods list and enter all the details to make the payment.
when you hit a nice win and all your winnings are in your cash balance, you can select a withdrawal. To do so, you should access the “My Account” section, look for the Withdrawal option and then type in the amount you wish to cash out as well as the method of payment.
Online casino payment methods FAQ
Even though we tried to be as thorough as possible with the sections of this article, when it comes to payment methods, players will always want to know more specific things. That’s why we decided to add an FAQ section to provide all the answers.
1. Which are the safest casino deposit methods?
You can always have complete trust in all the popular deposit methods such as cards, ewallets, direct bank transfer or pre-paid cards. These are guarded by all the latest security measures for your safety.
2. Which are the most popular online payment methods for online casinos?
Out of all payment methods available nowadays, ewallets, credit cards, and instant bank transfer tools remain the most popular online payment methods for online casinos.
3. How can gambling transactions not show in my statement?
Since the transaction took place, it is not possible for it not to show up on your bank statement. However, most online casinos do not use any names or info that could easily indicate the amount is gambling-related.
4. Why do some casinos have the “withdrawal” option hidden in your personal account page?
No matter how big casinos get, it is always in their best interest to keep players playing when they score a big win and not withdraw straight away. That’s why, unlike the deposit button that’s present on the homepage, to access the withdrawal section you need to go into My Account in some casino sites. Wagering some more of your wins is a benefit for the casino and can also lead to you playing all your balance.
5. Why did the casino not accept my KYC documents?
Casinos can be extremely picky when it comes to accepting KYC documents. Since it’s a procedure tightly linked with the Anti-Money Laundering system (AML), casinos must make sure all the documents presented are of the highest quality. This happens especially when the procedure is triggered by a significant withdrawal you requested.
6. Do online casinos accept different currencies?
Online casinos are available in multiple currencies since they aim towards a global player base. Popular currencies such as EUR, USD, GBP, CHF, SVK or NVK are present at most online casinos. You should check to see if your currency is supported and if there are any currency exchange fees.