Ensuring a casino provides reliable banking options is as important as considering bonuses and software suppliers, when choosing where to play. There are many reliable casino banking options available, varying on factors such as speed of deposit/withdrawal and privacy.
The aim of this article is to highlight the most reliable forms of casino banking. You will no doubt recognise many, but some may seem unfamiliar - which can set alarm bells ringing when it comes to money. By detailing the pros and cons of each one, you will be well equipped to make an informed choice about casino banking - safe in the knowledge each method is safe and reliable.
As you would expect, the majority of online casino banking is performed with a credit or debit card. Being highly reliable and widely accepted, those with a Visa or Mastercard should have no problem making a deposit anywhere.
Like most payment options, deposits made through Visa or Mastercard will appear in your account immediately. Withdrawal requests are slower, taking somewhere between 2-5 days to be executed. Though widely offered and highly reliable, this payment method requires players to input their banking details directly into an operator's site - which can raise privacy concerns for some players.
To alleviate the concern around privacy, many players have turned to e-wallets. Among the most trusted e-wallet providers are Neteller and Skrill. These work by allowing players to input their details just once, rather than sharing them across the internet with multiple casino sites.
After registering with an e-wallet provider, players can deposit/withdraw money to/from a casino, directly with their e-wallet account. Given their USP centres around data protection and safety, it is no surprise that e-wallets have established a reputation for being highly trustworthy and reliable.
With privacy and security on the agenda, prepaid cards are becoming more popular. Previously, one of the most established providers was Entropay - which enabled players to make use of virtual Visa cards. Unfortunately, Entropay have now stopped providing their service - though other providers have since emerged.
One of the most popular alternatives is PaySafe, which mixes elements of both physical and digital payments. PaySafe cards are purchased in physical stores and provide buyers with a code. This code can then be entered into an online casino, where the purchase balance will be transferred into your digital casino wallet. This process allows for greater anonymity and security, given the initial transaction takes places offline.
Of course, the problem with this method arises when it comes to withdrawal. Players will still need another reliable payment method to receive any winnings.
Another possible drawback of these more anonymous payment methods is the restrictions placed upon them. This is because casino providers are duty bound to ensure the money being used by their players is coming from a sustainable source.
If you're a high roller, you may instead consider using wire transfers. These allow for large amounts of money to be sent and received, whilst remaining highly reliable. The reliability and trustworthiness of wire transfer stems from the fact that transactions are manually by the banks. However, this does have the drawback of it taking as long as 7 days to withdraw winnings.