Depending on the site’s guidelines on your online casino payment methods and how much money you can withdraw at the same time, payment methods vary and you should review them before doing business with that company.
With the advanced digital technology available to process financial transactions in real time, it is easy for professional scammers to find ways to obtain information about someone’s bank account and carry out computerized robberies. Knowing whether a casino website is legitimate is vital to maintaining the security of any online financial transaction.
Deposits
Depositing the money used to play online casino games usually consists of setting up an account, providing relevant information to the site. However, before depositing money safe and secure online casino, players must verify the legitimacy of the website. Always use methods other than credit cards to deposit funds.
All major credit card agencies have restrictions on allowing direct payments to online gambling sites. They prefer that customers use a secure third-party website that has verified a particular online casino for the purpose of depositing funds.
Withdrawals
While casinos readily accept your money so that you can play on their website, they tend to limit the way you receive money returned. Some online casino payment methods transfer funds electronically directly to your bank; send you a gift card or prepaid card containing the balance you owe; or they can just send you a check. With a prepaid card, you just need to take it to the nearest ATM and withdraw money in the same way as you would with a debit card. Online casinos never refund money by electronically transferring to a credit card.
Online casino payment methods – Neteller
Neteller allows individuals to send, deposit and withdraw funds. It is necessary to set up an account to use the website, after which you can transfer funds using your debit or credit card. Credit card transfers cost 1.75% for each transaction. Bank transfer fees may apply according to your bank’s rules. In addition, foreign exchange transactions are subject to a 2.5% rate plus the interbank market rate on that day. Neteller is not yet available in the United States.
Automatic Clearing House (ACH)
Available only to the United States, U.S. territories and residents of Canada, an ACH is a secure automatic bank transfer to use when sending money to an online casino. Associated with the Federal Reserve and the Electronic Payment Network, NACHA, an organization that authorizes these types of electronic transactions, determines guidelines that ACH is required to follow. Sometimes, fees are applied to an ACH transfer, depending on the financial institutions involved.
Other methods
Occasionally, an online casino accepts payments sent by debit card, online or over the phone, using your bank account information through another provider. Additional online payment methods include Moneybookers, UKash, Click2Pay or PayPal.
Remember to check the reputation of an online casino site and the casino’s online payment methods before providing your bank information and money. Be safe and good luck!