FAQ about banking options and making payments at online casinos
There are many questions about banking options, deposits and withdrawals that are constantly asked by casino enthusiasts. Below we have tried to answer as many of these as possible as pedagogically as possible.
What is the most secure way to make payments at online casinos?
Generally speaking it’s always safe to deposit at casinos as the transactions are encrypted. If you want to feel as secure as possible, payment methods where you don’t have to share any sensitive details are, however, to prefer. These include making a wire or instant bank transfer, funding your online casino account with SMS payments or depositing using Bitcoins.
What is the fastest payment method online casinos offer for cash outs?
The fastest type is e-Wallets such as Skrill, Neteller and PayPal as withdrawals made to these have no transaction time at all. As soon as the casino has processed your cash out the money is instantly received. The very same can usually be said about instant banking options too. However, depending on the bank that you have you may experience a transaction time of 24 hours.
How quickly do casinos handle payment processing of withdrawals?
This can vary greatly from one gambling site to another. Those that we recommend here at casinowebsites.com are usually very quick and rarely take longer than 24 hours to process a cash out. With other casinos it can, however, take several days.
It’s also important to know that every licensed and legit gambling site requires you to go through a verification process at some point. This can either be requested on your first cash out or when you have reached a certain amount of total withdrawals. When this process is triggered casinos won’t do any payment processing until it’s been completed.
What verification is needed for casinos to begin payment processing my withdrawal?
This can vary depending on the circumstances, but you’re always requested to provide a photo copy of a valid ID as well as a document proving your home address. In addition to this, it may be that you have to verify the payment method you’re withdrawing with as well. This is more or less always the case if it isn’t the same one as you have deposited with.
Why do I have to verify my account?
Legit casinos are highly regulated and are required to follow certain laws to operate. One of these laws is an anti-money laundering act demanding that every player is verified.
Can I trust that online casinos’ payment systems are safe?
If you play at a legit casino licensed by a reputed entity such as the UK Gambling Commission you certainly can. As mentioned above, these gambling sites are highly regulated and wouldn’t be allowed to operate if they didn’t live up to a certain level of standard. This standard includes the use of an SSL 128-bit encryption on all the casino payments that you make.
Are payments for online casino gambling always instant?
With the vast majority of banking options they are. Should you, however, deposit by wire transfer it could take several days to fund your casino account. Bitcoin is also a payment method that isn’t instant as it usually takes around 30 minutes before the deposited amount is credited.
Can I make a casino payment with one banking option and then withdraw with another?
This depends on the situation, but generally speaking you won’t be able to do it. Part of the anti-money laundering act that casinos have to follow is that the money deposited from one banking option must also return to that very same banking option. In other words, if you deposit £50 with a debit card this £50 must also be withdrawn back to that same card when cashing out.
An obvious exception to the rule is if the method you’ve deposited with can’t be withdrawn back to. For instance if you’ve funded your casino account with a mobile payment solution. You may then be allowed to cash out using any method that you like as long as the withdrawal is done to an account owned by you. Do, however, note that some casinos will force you to cash out by bank transfer.
Another exception, which is sometimes allowed and sometimes not, is withdrawing excessive winnings to another method than the one you’ve deposited with. If you deposited £50 with Visa and won £100 playing casino you would always be required to withdraw £50 back to Visa, but could be allowed to withdraw the rest using another banking option.
How do I know what payment options an online casino is offering?
Perhaps the easiest way of finding out is speaking with the customer support or creating a casino account to check for yourself at the cashier. Many gambling sites also front with their banking options at the footer of their page. This can, however, not always be trusted as it’s common for some payment methods to only be offered in certain countries.
If you’re looking to make your casino payments with a particular method and want a high quality gambling experience, we recommend checking out our banking specific pages. We have a page for almost every available payment method and list many of the best casinos on these.
Can I use the welcome offer with all of the online casino’s payment methods?
You may think so, but this isn’t always the case. It’s actually quite common for gambling sites to block e-Wallet users from taking part of their welcome bonuses. Especially those depositing with Skrill and Neteller. Not every casino does it, but if you read the terms and conditions of the gambling sites’ offers you’ll find that many do. The reason for this is that these payment methods are over represented when it comes to bonus abusing.
If a casino is offering Bitcoins as a banking option you may also find that their welcome bonus isn’t supported with this as it’s a completely different currency. Some will have a specific offer for Bitcoins, but not everyone does.
Will I encounter any fees when making casino payments?
You may depending on the situation, but generally speaking it’s quite rare to come across any. These days there aren’t that many gambling sites that charge you for making deposits and withdrawals and those that still do are usually shitty options anyway.
Fees may, however, occur if a currency conversion is taking place. For instance if you deposit from a bank account in pounds and have your casino account in euros. It’s not the gambling site charging you for this, but this fee is usually included in the payment method that you use.
In addition to currency conversion fees, included in the payment method is also a fee whenever you make a transaction using wire transfer and Bitcoins. For the later it’s only a very small one (around £0.2). Wire transfers usually don’t cost that much to do either, but it depends on the country as in some they can be quite expensive.
Although not a fee occurred as part of a casino payment, it should be mentioned that e-Wallets usually have fees included in them. Either when you’re funding your e-Wallet account or when you’re withdrawing money from it.
What is an online casino SMS payment?
It’s a way for you to fund your casino account with your mobile balance or if you’re on a contract having the deposited amount debited to your monthly bill. Although not as commonly found among casinos as some other banking options, there are several different services that offer online casino funding by SMS payment. One of the most popular is known as Payforit.
Making your casino deposit with this mobile payment solution is quickly done by entering your phone number, receiving a text message with a code and then entering this code on the gambling site.
What’s the best casino offering mobile payment alternatives?
To answer this we highly recommend checking out our subpage about playing casino with Payforit. This has several quality gambling sites listed that you don’t want to miss out on.