Wednesday, 24 May 2017

Popular Casino Payment Options Explained

Casino Payment Methods

Most casinos offer a variety of payment methods. The most common options include credit and debit cards (Visa/MasterCard) and e-wallets, although cheques and bank transfers are also available options. Not all methods are allowed for both deposits and withdrawals, so make sure you find a method or multiple methods that will work for you.

Credit Debit Cards

Credit and debit cards are similar with the small exception that debit takes money directly from your bank account at the exact moment of purchase. With credit cards, you have to pay your bills off later on your own each month by a specific date or you’re charged interest. Common options for credit and debit include VISA and MasterCard/ Maestro Card. The benefit of using a credit or debit option is that the transactions usually take place immediately so you can start playing right away.

E-wallets

E-wallet stands for electronic wallets or digital wallets. This is by far the most popular payment option for casinos and it’s easy because your e-wallet is already linked to a credit card payment or bank account, so you don’t need to worry about re-entering any of that information as everything is processed through the e-wallet. This method is also almost always instant for deposits and very quick for withdrawing funds, especially compared to other methods. A few examples of e-wallets are:
  • ecoPayz
  • Neteller
  • Skrill
  • PayPal
  • Entropay 
  • ClickandBuy 
  • Click2Pay.

Bank Transfers

Bank Transfers or wire transfers will help you connect funds directly from your bank to the casino. Although this process is direct and requires no third party, it actually takes longer to process than other payment methods. It can take as long as 72 hours before the money is deposited and you can start playing.

Cheques

This will certainly take the longest amount of time to process for deposits or withdraws and isn’t usually a popular or available option for deposits anymore because it does take so long and most players want to play immediately instead of waiting days or weeks before their money is deposited. However many casinos still use cheques to return your winnings to you directly.

Things to Remember

  • There’s always a minimum payment. This is usually around C$10-C$20, often C$10 for deposits and C$20 for withdrawals.
  • It usually takes longer to cashout than it does to deposit. Whereas the deposit is often instantaneous, the withdrawal can take a few minutes or up to a couple of weeks. The fastest withdraws are often through e-wallets. Cheques and bank transfers take the longest period of time from 2 to 14 working days, depending on the casino, the processing time, and other conditions.
  • Sometimes the casino will also ask for additional information or proof of identity before cashing out. This is normal procedure.
  • Some casinos offer bonuses for using a specific payment method, such as a 15% bonus for depositing with Visa. Check to see which options are the most profitable for you.
  • Here is the table of available deposit and withdrawal option in top 3 Canadian online casinos. We'd recommend you to check this info on the official websites.

    Payment Method JackpotCity Golden Tiger Royal Vegas
    Visa/MasterCard
    PayPal
    Skrill
    InstaDebit
    eCheck
    Neteller
    iDebit

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