Even though banking options are not always the first thing players pay attention to, they are quite important when it comes to topping up your casino account or cashing out your winnings. Finding a casino site that accepts your proffered payment method can save you lots of troubles like signing up for e-wallets you don’t own or making bank transfers that take too long.
Luckily for players, most popular online casinos feature at least several different banking methods including credit cards, prepaid vouchers, cheques, digital wallets and wire transfers. This is convenient to their users because they can easily and safely make money transactions.
However, not all methods are accepted in all countries. Plus, some methods include fees or take longer processing time. Therefore, players have to be well informed before deciding to make deposits or request withdrawals via a particular banking option.
Deposit and Withdrawal Methods
There are several basic types of deposit and withdrawal methods offered at popular casinos such as 888 Casino and Guts Casino. Each of those methods comes with certain advantages and disadvantages that make them preferred or avoided.
Credit cards are widely used as banking methods at online casino sites. Credit card deposits usually take only several minutes to be completed, whereas cashouts may last a little longer.
Since the rise of Internet wallets, also known as e-wallets, online players started using these online payment tools at online casinos. E-wallets are safe to use, they provide some kind of anonymity to casino customers and they usually make it possible to instantaneously deposit and withdraw funds.
The two most popular e-wallets that can be used in numerous online gambling sites are Neteller and Skrill. Nevertheless, the list of accepted online wallets at casinos features many other brands such as WebMoney, PayPal and etc.
Even though prepraid vouchers usually are offered only as a method for topping up casino accounts, they are still used by a good deal of online gamblers.
Prepaid vouchers are perfectly safe since players are not required to provide any personal or financial information when they are purchasing or using them. Two prepaid vouchers that are fan and casino favourites are Ukash and Paysafecard.
When there weren’t as many different banking methods as there are now, bank transfer used to be a very popular among online players. However, since deposits and cashouts via bank transfer usually take 3-5 business days in order to complete and include certain fees, this method currently cannot be considered the best one.
Just like prepaid vouchers are usually offered as a possible deposit method, personal cheque is often featured as a cashing out option. The disadvantage of using personal cheque as a preferred withdrawal method is the fee that usually comes with it as well as the higher than regular minimum cashout amount.
Casino Banking Limits
Almost every online casino on the market has its own banking limits. Banking limits are, in fact, the minimum and maximum amounts of cash players are allowed to transfer on daily, weekly or monthly basis. Banking limits are part of casinos’ banking policy and therefore different casinos have different limits.
When it comes to deposit limits, the most commonly found minimum deposit amount is £10. Nevertheless, some sites might accept deposits as little as £5, whereas others won’t accepts deposits smaller than £15 or £20. The maximum top up amount usually varies from £5,000 to £10,000, depending on the payment method and the casino.
Minimum withdrawal amount at casinos is usually a bit higher than the minimum deposit amount. As a result, players can, most commonly, request to cash out £20. Naturally, this amount can vary and there are casinos that allow their customers to withdraw only £10 and sites that won’t pay out anything under £30.
Maximum cashout limits can be different. For example, players might not be able to cashout more than £5,000 per time and more than £20,000 per month. Some casinos also can have weekly withdrawal limits of £2,500-10,000.
Safety and Security
Even though players often worry whether their personal and financial information can be stolen if they provide it to the casino, this is rarely a possibility. Well-established online casinos such as Mr Green Casino and Bovada Casino always meet the highest safety and security standards in order to provide a safe gaming environment.
All money transactions at these popular online casinos are encrypted using the latest SSL encryption technology. As a result, even if third parties succeed to steal any information provided by customers, they won’t be able to read it.