Something that’s always been a bit of a bottleneck for players in the online casino industry is getting in deposits and getting out withdrawals. A limited ability to do either of these will completely destroy a site’s chances at being popular and respected, and that’s why a lot of sites will have what seems like a ridiculous number of banking options. The point is that they want to make sure that players are always able to make the transactions they need when they want to, regardless of what’s going on with certain payment methods being down or unavailable for whatever reason.
While the great number of banking options can be intimidating to deal with, if you understand how they are grouped together and how making a deposit is very similar with all of them, it becomes much easier to manage overall.
The three types of deposit methods at online casinos
There are three basic groups of deposit methods for online casinos. The first is credit cards and debit cards. These include the top names in the industry like Visa, MasterCard, Solo and Maestro, and making a deposit using these methods is quick, simple and safe. It’s just like making a purchase for anything else on the Internet. You’ll put in your credit card information and your security information, and when the card is accepted (most will, but some aren’t depending on the bank the card is associated with), your casino account will show the balance that you have added. It’s that simple.
The second group of deposit methods is the selection of electronic wallets. These eWallets include names like Neteller, Skrill and PayPal. The basic idea is that these accounts are separate from your bank account but also separate from your casino account, so they really are like a virtual wallet of money. You’ll fund your eWallet account with a credit card, bank transfer or other method, and then you can use your eWallet to fund your account by using your username and password as your security credentials. This adds a bit of flexibility to your play since you can normally use these methods for both deposits and withdrawals at a very wide range of casino sites.
The third group of deposit methods is everything else that doesn’t fall into the above two categories, and it’s sort of a miscellaneous mix of options. This includes voucher systems like Paysafecard in addition to direct bank transfers, electronic checks, money transfer services like MoneyGram, etc.
Safety and security when depositing at an online casino
To keep your financial and personal information safe, you’ll be required to verify your credit card and/or electronic wallet account. If you use a bank account to send deposits via electronic checks or other similar methods, you’ll have to verify ownership of the account. The basic idea is that they want to make sure the card or account belongs to you, and this is typically a one-time inconvenience that helps to keep levels of fraud down quite a bit.
This means the basic process is as follows. First, you’ll put in your account information or credit card details and the amount you want to deposit while you’re in the cashier section of the casino software. Second, you’ll make your deposit and make sure the funds are cleared to your account. That’s really all there is to it because then it’s time to play.