Casino Banking Methods
Banking at online casinos is one of the key factors in a successful online gambling business. Players looking to enjoy real money casino gameplay are best off with secure, reliable and varied banking options in order to fit their needs and preferences.
If you’re interested in finding the best banking method for your gameplay needs, it is best to make a thorough approach. Look through the payment processing service formats, check out the key features and decide on your preferences of both banking and game choices. You can visit our casino banking comparison guide to compare and examine the strengths and weaknesses for each banking method available at online casinos for your country.
Types of Casino Banking Methods
In the first few years of the industry’s establishment, online casino operators were mainly equipped with the standard, existing banking options. Regular banking and financial institutions, check sending and receiving services, as well as cash transfer were commonly offered as a way to fund your casino gaming, and cash out any winnings.
Be sure to check out our Banking Comparisons page to find the best method that works for you.
Credit/Debit Cards
Credit and debit cards, as well as prepaid cards, were the top choices when it came to online casino banking. Major processors such as Visa, MasterCard and American Expresses established their dominance on the online market just as well as their land-based global network. Issuing banks, alternatively, used the novel capabilities of the Internet to develop online banking; since then, players have been able to transfer money to and from their credit, debit or prepaid cards, as well as directly through their online banking option.
Checks
This method has seen some use in cases when the eligibility of other banking options is limited. They normally take longer to process and even longer to be delivered, which had players turn to other options.
Quick deposits and instant cashouts
- Pay N Play: a product by Trustly (Germany, Finland, Sweden, The Netherlands)
- Rapid Transfer: quick payments through Skrill (Austria, Finland, Germany, Norway, UK, Sweden and many more)
Prepaid Cards & Vouchers
These can usually be purchased at a corner/convenience store or online and there are three types: virtual cards, reloadable and disposable. Below are a few prepaid options to use for depositing, each one may be dedicated to a certain territory so make sure to double check which countries the method supports. Use our search feature in the table below to find the prepaid card you are most interested in.
- Paysafecard
- Neosurf
- Vanilla Prepaid (Canada)
- EcoCard
- EntroPay
- Visa
- Postepay (Italy)
- Flexepin (Canada, Africa, ROW)
- Bancontact (Belgium)
- UPayCard
- CashToCode (Europe)
Bank Transfers
- Interac online and e-transfer (Canada only)
- Bank wire transfer (most countries)
- iDebit (Canada)
- POLi
- SwiffyEFT (South Africa)
Cash Transfer
Cash transfer services had already existed for over a century when the first online casino platforms went live. Their reputation and popularity among the masses made them a suitable choice for many, and were the most common alternative to banks and credit/debit cards if necessary.
As technology progressed, new companies emerged which took online banking to a whole new level. These types of banking formats completely digitalized money management, funds storage and transfers. Some of them appear as dedicated programs and mobile apps, while others are web-based online services. Either way, their focus was to make online casino players less reliant on their banking accounts and credit/debit cards and save them from having to share such sensitive information with third parties.
Best E-wallets
Nowadays, there are a large number of e-wallet services, facilitating payments to and from online casino platforms. PayPal was among the first to offer the service, with Skrill and Neteller currently ranking among the top choices for online transactions.
They function on the principle of opening a personal e-wallet account and funding it with real money that you would like to use for online payments. After that, there is no need to involve your banking details, and they remain safely stored on the e-wallet’s servers. More or less, e-wallet services are available as payment methods at top online casino sites, as well as other e-commerce platforms, so all you have to do is select them and complete the transfer. The procedure is explained in further details at each method listed below.
Cryptocurrencies
In an attempt to completely decentralize the money management practice, developers introduced a whole new format – cryptocurrencies. Bitcoin was the first crypto released, with many additional digital currencies being built on its basis. Nowadays, there are a few which have managed to gain the most ground in the sphere of online banking:
- Bitcoin - This was the first currency of its kind, developed as a decentralized and completely anonymous method of sharing and transferring data and funds between peers. It runs on its unique blockchain platform, which later served to develop all kinds of ‘derivates’, operating today as separate cryptocurrencies.
- Ethereum - So far, Ethereum has managed to establish itself as the second largest cryptocurrency after Bitcoin. It inevitably uses its revolutionary technology, and further builds upon it in order to perform its operations successfully.
- Bitcoin Cash, Dogecoin, Litecoin
Read on below in the dedicated Ethereum page for further details, and check out the rest of the variants available just to be sure you’re making the best choice for your online casino gameplay.
Below is a list of all the banking options available to use when wanting to make a deposit and/or withdrawal at an online casino. For further information click on the reviews to see the details of each method and the casinos that use them.
If you are looking for casinos that accept certain currencies we have a dedicated page: Currency Options at Casinos
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Top 5 deposit & withdrawal methods accepted at online casinos in Virginia, US
68 banking methods
We are displaying available banking methods for Virginia, and if you want to see all of them click here.
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FAQs
Can I request withdrawals from my casino account using any of the payment methods listed here?
There are quite a few payment methods listed here, and not all of them function the same way. As mentioned, they are normally separated, i.e. classified depending on the different ways of processing payments. And while you would most likely expect well-known online banking transfers to handle operations easily, newer banking methods will most often cause you to seek out alternative options for cashouts if you’re gambling from an unreliable territory.
What is the best indicator of the banking method’s safety?
This may depend from one method to another, especially depending on the country where they have set up their business. Nowadays, most countries have authorities or offices for financial conduit/services which determine if a payment processor is legitimate, should be certified and allowed to cater to the specific customer pool. Other than this, online banking methods are often the target of reviews, both by players and operators alike. Hence, checking for some feedback about the service on respective sites could give you just the right insight. What is more, you can head to their official website, check for seals of approval and other authorizations, policies and other data first-hand.
Are there any payment processing services which operate for free, without charging fees?
Of course, there are plenty of online payment processing services that will not charge their customers a single penny for the operations performed. Transactions in both directions are often performed by e-wallets and other online payment processors without any fee charged; other times, there may be a fee, but so minute that it is not taken into consideration.
In what ways does my online casino experience depend on these banking methods?
The banking method of your choice can largely affect your overall online casino experience. Higher fees for processing operations may see amateur players spend great amounts just to get their average winnings back to their banking accounts. What is more, risky transactions can see you lose the entire bankroll instead of a portion; if you’re lucky to be in a country with authorized legal online gambling, make sure to turn to the relevant authorities. If this is not the case, you can address the respective jurisdiction and licensing commission; still, it’s always better to be safe rather than sorry.
Why are my banking requests getting rejected, for deposits and withdrawals both?
Just because you hold a banking account with a given payment method doesn’t mean you’ll always be able to use it for these operations. More specifically, some casinos tend to restrict specific services from processing payments to and from players from specific regions. This is mainly due to legal issues, restrictions due to the country’s specific gambling laws, or other obstacles – currency availability, payment service policy and more.
I am a regular player at my chosen casino, but I can’t claim one of the specific bonuses on offer even though I qualify for the offer. What’s wrong?
This can happen if you don’t pay close attention to the terms of use of the bonus – sometimes, they may focus on promoting a specific banking method and will not count you as eligible for the offer if you’re not using that service. Other times, they may not focus the bonus offer on a single banking method, but will exclude players using some of the payment services, most often due to their individual policies. All in all, it is best to pay close attention to all rules and terms on time.
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