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What You Should Know About Online Casino Payments

It has never been as easy, safe, and fast to transfer funds online as it is today. If you take into account all online casino payment methods, the wide variety is evident at first sight. They all have their advantages and disadvantages which definitely influence the use of one provider over another.

We'd like to help you get the best payment provider for your requirements. Whether you're looking for fast withdrawals, mobile compatibility, or more specifically Amex accepting casinos, there are plenty of solid options available. But before getting into details, here's what you generally want to consider when choosing online casino payment methods:

• How easy the payment method is to use at real money casinos
• Processing time, especially for withdrawals
• Is the payment option generally accepted or only by a few casinos?
• Is the payment option available in my country (i.e., in the US yes, in some others no)?
• Is there a fee for using the service, and if so, how much?
• Can the method be used to get a deposit bonus?
• What is the minimum/maximum deposit amount?
• Is the process only for deposits, or is it also available for withdrawals?

The Most Popular Casino Payment Methods in the US

We’ve already mentioned the sheer number of payment options at online casinos. But which ones are most popular among players in the US? The answer is: a bit of everything. Just as every player has a favorite game provider or slot, preferences also exist when it comes to payment providers. These preferences often determine whether someone chooses Provider A or Provider B.

Below is a compilation of the most popular payment options provided by online casinos. They stretch from prepaid options like Neosurf to regular bank transfer options like those at best immediate transfer casinos, to online banking options like GiroPay where it is available. By and large, you can pay through one or more of the following options:

• E-wallets
• Debit cards and credit cards
• Online bank transfer services
• Prepaid payment options
• Cryptocurrencies
• Other options

Each category includes several options to deposit money into your online casino account. Some of them belong to the same parent company, while others are in direct competition with one another—for example, PayPal vs. Neteller/Skrill. PayPal is an independent provider, while Neteller and Skrill fall under the Paysafe Group.

Debit and Credit Cards

Credit and debit cards were probably the first traditional payment methods to migrate to the online world. Visa and Mastercard payments are standard now. American Express is accepted less frequently, however.

Payments made by card offer stringent security levels, but some past cases of hacking attacks on card issuers have occurred. Withdrawals by card, like with Visa, can also be slower—three to five working days.

Online or Instant Transfers

Banks are no longer the only way to make online transfers. You only require your online banking information and a TAN (transaction number). While you can make these transfers at any time of day, 24/7, traditional online banking has one significant disadvantage—processing is postponed according to the time of day.

That is where instant transfer providers step in. These providers do exactly the same thing but with one major difference: the payment is made immediately. Though, these providers usually provide deposits only, and thus withdrawals must be made via alternative methods.

E-Wallets – The Online Payment Experts

E-wallets are one of the ideal payment methods for online casinos because they were designed for making payments online. They're flexible, allowing both deposits and withdrawals, and they're safe and fast.

The only downside is that you first have to open and verify an account with the e-wallet provider. This is generally subject to the normal fees. There may be fees on the transfer of money to or from your bank account, depending on the provider. E-wallets do allow you some anonymity since you don't need to give the casino your banking information.

MiFinity, for example, is an e-wallet that you can find at some US online casinos.

Prepaid Cards – Budget Control at Its Best

Prepaid operators offer a unique solution: they allow online payments using cash. You purchase a physical card in a store and pay for it in the store. The card carries a PIN, which you enter on the casino site.

Prepaid cards are ideal for budget players because you can never overspend—once the cash is used up, the card is useless. They're deposit-only cards, however; you'll have to use something else to cash out.

What Alternative Casino Payment Options Are There?

We've covered a wide range of methods, but there are a few others that deserve a mention. These don't fit into the categories above but still have advantages and disadvantages.

• Cryptocurrencies (e.g., Bitcoin or Ethereum): fast, anonymous, decentralized.
• Mobile billing: pay directly from your mobile phone account.