The Most Popular Banking Methods To Consider For Online Casinos
The Most Popular Banking Methods To Consider For Online CasinosThere are a variety of banking methods that can be used to add money to an online casino account and withdraw the winnings. Each of them comes with its own set of advantages and disadvantages and if a lot of options are available, making the final choice comes down to which is more convenient for every user. This can mean a combination of different factors that can include processing times, fees, security, availability and more.
In order to choose the perfect banking method for online casinos, you must first have an idea of how the most popular ones work and what it is required from the player in order to get started.
It is safe to say that a lot of players are already familiar with credit cards and a good part of them already have one available in their wallets. These cards use a unique code of 12 digits along with the name of the holder, the expiration date and an additional code for security. This information is required when making a deposit at an online casino and can be entered right away for a fast transaction.
The amount is usually processed right away and the most commonly used credit card issuers are Visa, MasterCard and Diners Club. One of the big advantages that credit card provides is that the amount doesn’t have to be in the account and can be paid at the end of the month. Furthermore, in case of frauds, the holder of the card can contest the transactions.
Debit cards are similar to credit cards as they pretty much look the same way. The only important difference is that the money has to be in the bank account connected to the card in order to spend it. It is common for companies to first require an electronic authorization for online payments before anything can be used to transfer large amounts of money. Visa and MasterCard are also the most popular debit card companies in the world.
The drawback compared to credit cards is that if the debit card information is stolen, the holder cannot contest the amount once it is used. He can however easily block the card with a quick telephone if it is lost or suspicious activity is noticed.
A prepaid card is often times seen as the best way to control the funds and it is completely secure for online payments. Users can easily purchase prepaid cards with cash from local stores or from online vendors with other payment methods.
A code is offered that represents a certain amount and this is simply entered in the corresponding payment option on the casino and the transaction is complete. The great part is that once the code is used, it becomes useless and there is no personal information required so even if a third party sees the data on the internet, there is no way to become a victim of fraud from it. Prepaid cards are usually sold for set amounts, like $10, $20 and $100, but several can be entered at the same time.
Ukash is the biggest prepaid card company across Europe and especially popular in the UK. It offers a unique code of 19 digits for each account and is very reliable every time.
Nowadays, e-wallets are becoming highly needed as more and more transactions take place over the internet. Also known as a web wallet, this service allows users to set up an account with one of the providing companies and then use it to make or receive payments instantly.
Skrill and PayPal are the biggest e-wallets on the internet and while the accounts might require some time to set up since they need personal information, they offer increased security for future transactions. Once you select this option at an online casino, you will be redirected to a secure page and asked to log in to the e-wallet account. Similar to debit cards, the amount has to be in the account when the payment is requested.
When withdrawing to a web wallet, things are even easier if the same name is on both sites and you can then withdraw the money from the e-wallet account directly to your debit card or bank account.