Page updated on: 17.07.2020
Deposit and Withdrawal of Funds in Online casinos - An Overview of Payment Methods
Playing in an online casinos often bears the same first question: How do you go about depositing and withdrawing funds into the player account? There are also other questions of which the best payment method is, if the deposit is safe, how much fees it might cost and how long it takes until the deposit has been credited to the player account. Aside from this, there are also some question as to how long the casino takes to process the payment, or if they charge fees.
This page provides an overview of the payment methods in online casinos, and you can find detailed explanations on how they work.
Casinos sorted by Payment Methods
If you're looking for a particular payment method in a casino you can find an overview of the best casinos for each method by visiting the respective payment page.
Pay N Play
UPI Net Banking
Payment Methods in Online Casinos:
The selection of available payment methods is very diverse. There are credit cards, electronic wallets (e-wallets), vouchers, bank transfers and many more. The best payment method for the player depends on a few factors and what the player prefers. The methods can mostly be differentiated in speed, limits for deposits and withdrawals, and fees.
Security has become an important factor, as nowadays there is a lot of worry about credit card fraud, stolen information and logins. As a general rule, you should always be careful when making a payment on the internet, and you should never enter your sensitive data thoughtlessly on a website without verifying that the operator is trustworthy. All online casinos that are presented on our website are using encryption technologies that protect your personal data.
On this page, we would like to highlight the different possibilities, and you can get detailed information about every payment method. This might help you to make a decision of which payment you would like to use. Keep in mind, that not every casino accepts every payment method, and some have a larger selection than others.
Credit Cards / Debit Cards
Probably the most common method of depositing funds into the online casino player account is a credit card. Even if it appears that the credit card is the fastest payment method, it might well be worth it to compare other methods, as credit cards can have some disadvantages.
- The payment is being processed within a few seconds
- Easy to use
- Fees can apply
- Credit card information is entered on the Internet, and may be compromised
- Withdrawals of player funds not always possible, and if it is, it might take a few days
The so-called e-wallets are a payment method that offers you a virtual account with a provider. The account will either have to be credited with money, or the provider charges your card or bank account automatically. Opening one of these accounts is usually free of charge, but providers charge fees for using services or exchanging currencies.
- Deposit is being processed within a few seconds
- Safe method, as credit card data does not need to be entered
- Withdrawals can be processed within a few moments
- Fees may be applied
- Depending on which method is used, the e-wallet needs to be credited with money first
Probably the best method to control your spending, and to have the highest level of security. The vouchers are being purchased in a store or online, and can be used to pay online.
- Best means to control spending
- Deposits into casino player accounts are instant
- 100% safe, as no personal financial data needs to be entered
- Withdrawal is not possible, a different method needs to be used then
- The voucher needs to be purchased before it can be used
Bank Transfer and Instant Bank Transfer
A traditional bank transfer might be one of the slowest methods of depositing funds into a casino player account, it can take several days before the amount is credited. However there are also services that can perform instant bank transfers, and they act as an intermediary, and payments are processed within moments.
- Instant deposits may be possible
- Good method to control spending
- Deposits and withdrawals are possible
- Possible fees when transferring money abroad
- Withdrawals from player accounts might take several days before the amount is credited
Mobile payments are carried out from your phone and the provider sends you confirmation codes in text messages. This payment method is convenient to transfer smaller amounts.
- Instant deposits are possible
- No payments appear on bank statements
- Spending can be limited
- Fees may apply
- Withdrawals are not possible
Crypto currencies are virtual digital currencies where the value isn't tied to federal reserves or fiat currencies. There are many different cryptos available, for example Bitcoin, Litecoin, Dash, Ethereum, Ripple, Bitcoin Cash and many more. Some of these can be used for online casino deposits and withdrawals. These currencies have a high volatility and risk, so before using them, we recommend that you make yourself familiar with how they work.
- might be an alternative when other payments are not possible
- some crypto exchanges can be used to make payments
- low fees
- Crypto currencies are highly volatile and carry a higher risk
- exchanging crypto into fiat and transferring it to bank accounts costs fees
Using a credit card at a licensed casino is usually safe, but it depends on a few factors. First, is the computer or device you're using safe? We don't recommend using credit cards at public computers, as the information might get recorded without you knowing it. It's also important to make sure that the connection is secured through SSL.
A casino operator normally uses a payment processor, which will process the transaction, and the casino won't be informed of the full credit card number or the CVV, they will only see a few digits of the card, the name and the expiry date, which they can use to confirm the payment was made by you.
If you feel unsure to use a credit card at the casino, there are many alternatives that allow for safe and fast payments to casinos, like for example e-wallets, Neteller, Skrill, MiFinity, EcoPayz or Jeton, or you can make instant bank transfers with Rapid Transfer or Trustly for example. You can learn more and compare payment methods here on this page.
While most payment methods are safe to use online, if used correctly, instant bank transfers are among the safest and fastest to send money, but not necessarily to receive winnings. A payment is safe, as it usually has to be confirmed by a unique transaction number, which makes fraud very difficult.
An instant bank transfer is carried out within minutes and you can start playing your favourite casino games for real money, but when you request a withdrawal at the casino it may not be possible to perform a fast withdrawal as well, and it can take a few days bank processing time.
Similarly, there are a few payment methods that you can use with your mobile phone, but some operators have lower limits, and don't allow you to receive money.
The best thing is to think about what you expect from a payment provider, the fees you're willing to pay, the speed of your winnings being paid out, and then compare the services of payment providers to find the right one.
A licensed online casino will likely have a policy that they will only transfer funds to the same payment method that was also used for the deposit. This means that, unless the payment option cannot be used to receive funds, a preference is put on the same payment method.
If you've used a Visa card, the deposit is fast, but the withdrawal to a Visa card can (if possible at all) take a few days bank processing time.
The same goes for instant bank transfers. Some users in some countries can make use of fast instant bank transfers, but most have to wait a few days to receive their winnings.
Fastest payment methods for both the withdrawal and deposit are e-wallets, like Neteller, Skrill or Ecopayz for example. Although they are not entirely free to use, they offer fast payment services for a small fee. They can be a very good alternative to bank transfers or credit cards, but everything has its pros and cons. Read more about general pros and cons of payment methods on this page.
Some online casinos accept crypto currencies, either just for payments, or even as account currencies. You can find Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash and Tether as accepted currencies, and many crypto wallets are supported. Read more about payments to crypto casinos here.