Casino Payment Methods

Payment Methods at New Casinos

Top Payment Methods at New Casinos

You can choose debit/credit cards, e-wallets, and banking transfers, but it is important to know how they differ.

E-wallets like PayPal, Skrill and Neteller are generally the fastest payment option and the second most used on new casinos 2022, with instant deposits and quick withdrawals, usually paid within 24 hours.

Traditional banking options tend to have more appeal for many first-time players. Debit and/or credit cards are more familiar, which may lead you to reach for your Visa or MasterCard on instinct.

In most cases, online casinos offer instant deposits and withdrawals, with transactions processed in just a few days (at most), as well as low fees. However, credit cards do incur interest, often at high amounts.

Prepaid cards are another online banking option which keeps becoming bigger and bigger. You can usually get around international banking restrictions with these, and adding money to them is typically a quick, simple process. 

But the advantage of being anonymous usually comes with an expensive transaction fee. Direct bank transfers tend to be the slowest payment method and can incur substantial charges.

Now that we have covered the various options briefly, let’s look at them in closer detail. This can give you a better-informed choice before registering.

Deposit & Withdrawal Fees and Limits

The most common way of depositing into your casino account is by using a credit or debit card, such as VISA or MasterCard, except for players in the UK.

The fees for a credit or debit card transaction are usually around 2.5%. In terms of fees, this is quite standard, but some methods will only charge for withdrawing.

It can also get even worse if you choose to use other deposit methods such as PaysafeCard and certain e-wallets, as some casinos charge up to 5% in fees for these deposits.

Be mindful that deposits with Skrill and Neteller usually are excluded from claiming most casino bonuses, so check the T&Cs before depositing.

Fast Casino Withdrawal Options

As of today, the fastest casino withdrawal options are the e-wallets, such as PayPal, EcoPayz and MuchBetter, to name a few. Since their nature is online, speed is their main feature.

Vouchers can be considered fast as well because the money is almost instantly deposited into your account as soon as you insert the unique code and press deposit.

The slowest options are cards and bank transfers, which can take up to 7 days in some cases to reach your pockets.

Short Facts About Costs and Transfer Limits

Min. Deposit Usually around €/£10 Max Deposit No limits
Min. Withdraw Usually around €/£20 Max Withdraw Usually up to €/£50,000
Deposit Processing Instant in most cases Withdraw Processing 1-5 days
Deposit Fees Usually none Withdraw Fees Usually none (up to 2,5%)

The Popular Payment Method

When it comes to using cards to fund your online gaming account, there are a couple of very important factors which need to be taken into consideration.

On the positive side of the equation, debit and credit cards are an easy and secure method to make instant deposits to your casino account, and withdrawals are generally processed within 2 to 4 banking days.

Most casinos will not charge any fees for either deposits or withdrawals by this method, although you may need to check to see if your bank will deduct a small fee for processing these transactions.

The major disadvantage when it comes to credit cards is that there are a number of restrictions in place depending on the card type and your country of residence. While Visa cards are an easy option when it comes to depositing and withdrawing from online casinos, Mastercard will not allow withdrawals from gambling sites back to their cards unless you happen to live in the UK and Ireland.

Meanwhile, American Express simply does not permit any transactions to or from online casinos, so this is just not really an option. Some other branded cards may have a similar restriction; check our casino reviews to find out which ones allow that.

E-wallets in Detail

E-wallets like PayPal, Neteller and Skrill are the primary electronic wallets available today with most web casinos, and all of these offer instant deposits and withdrawals in less than 24 hours, sometimes as fast as between 1-4 hours for PayPal and Neteller at selected casinos.

  • Deposits and withdrawals to and from your online casinos are free of charge when using these payment methods, but it will often cost you fees to fund your electronic wallet in the first place and also to withdraw from there to your bank account.

Funding your Skrill account using a debit/credit card will cost you about 1.9%, which is cheaper than rival e-wallets, with both Neteller and Skrill liable to cost about 1.75% for withdrawals. We recommend you to read our guide on each E-Walled for a detailed breakdown of the fees.

  • Minimum deposits using e-wallets vary from one casino to the next but are generally between €/£5-20 and withdrawals at the same level. The maximum deposits and withdrawals vary and depend on each online casino, but in most cases, there is no limit.

Although the electronic wallets mentioned above are definitely the most popular in markets such as the UK, there are other options in certain casinos such as Citadel, Nordea, ecoPayz and Webmoney.

You won’t find PayPal available as an option for residents of most countries, but Neteller and Skrill are widely available. If you are a UK resident, then PayPal is a cheap and easy way to make deposits and withdrawals, and there are many online gamblers living in other countries who would love the opportunity to use PayPal to fund their accounts.

The main disadvantage of using e-wallets to fund your gaming account is the fees. In most cases, online casinos do not charge for that, but the e-wallet itself will do. Then you have to be aware that some casino bonuses will be out of your reach if you are using some specific e-wallets, such as Neteller and Skrill.

Cryptocurrency

We have a page dedicated to explaining the use of the most common cryptocurrencies, and we encourage you to read each individual review to understand a bit more about the key differences between them.

Once you have done that you should be able to choose the best cryptocurrency to make your transactions with your favourite online casino.

New Bank Transfer Casinos

Bank/Wire Transfers in Detail

There are various different bank transfer options out there – depending on your country of residence – including POLi, Sofort, Trustly and Trustpay, to name a few. While this payment option has the advantage of simplicity and security, the disadvantages tend to outweigh the plus factors for most people.

  • For one thing, you can expect processing times of one and five days before your deposit is processed in most cases.

Deposits and withdrawals usually have a minimum of €/£20. If you are moving 5-figure sums of money around, then bank transfers are probably your best option.

  • Cheque payments are accepted by a very small number of online casinos, but in all honesty, you will no doubt see this get phased out within the next years as it becomes less and less relevant in the digital age.

As a result of the variation in bank transfers and cheques, providing a breakdown of the fees etc., isn’t viable. However, reputable online casinos will offer a decent breakdown of these details

. You’ll be able to find out all you need to know about a specific casino’s bank transfer fees and processing periods through their FAQ or by contacting them through live chat.

Prepaid Vouchers in Detail

When it comes to Vouchers, Paysafecard is the biggest player.  It is accepted by a large number of online casinos, and since most virtual venues display their banking options at the bottom of their page, you can check if it’s available within a second or two.

  • When using Paysafecard, you need to think about how this may restrict your choice of online casinos a little (more than, say, PayPal or Visa), as well as the limits imposed by your Paysafecard verification.

Still, the convenience of knowing exactly how much you have on your card means you have no risk of overspending.

A prepaid card could be a viable solution for anyone who may have concerns about how much you add to your online accounts – easier to manage your bankroll, let’s put it that way.

Pay By Phone in Detail

Boku is one of the most popular methods, and it gives online casino players the chance to fund their account with a tap of the screen, though you can only add between €/£10 and €/£30 to your account on a daily basis. If you only spend a little and often, this could be ideal and saves you from having to enter any banking or sensitive data into your online casino.

However, while smartphone payments are terrific for making convenient deposits, you obviously can’t make withdrawals. This is a minor drawback to SMS payments, but this payment will likely get bigger and bigger, especially for gamers who want to top their accounts while playing on the go.

Making the Call

If you have reached that far, chances are you know a lot about the many payment options available for you. Read the individual guides for your favourite options and make a safe and sound decision. Your money, your rules.

Payment Methods FAQs

1. What is important when selecting a payment method?

In short, it is important to check if the payment method is available in your country and if it is regulated by financial authorities and of course, suits your needs.

2. Which are more safe & secure?

All payment methods here are deemed safe to be used and are well regulated by the financial authorities in their countries, on top of that, they employ several measures to make sure fraudulent activities do not happen.

3. What methods are faster?

Usually, e-Wallets can handle transactions in a matter of seconds, making them extremely fast and reliable due to the top-notch technology employed.

4. Should I choose an e-Wallet over debit or credit?

It depends on your personal preferences since both have their advantages and disadvantages. Cards are reliable and more popular, but e-Wallets can process transactions faster and usually with fewer fees.

5. Do I need to own a credit card?

Not necessarily, there are plenty of payment methods that can cater for players who do not own a credit/debit card or even a bank account. These are e-Wallets and vouchers.

6. What If I Encounter a Problem Depositing Money?

You should first make sure you have filled in the correct information when depositing and then contact the casino right after the payment method to identify the causes of the problem.

7. How are winnings generally paid?

Your winnings are paid through the same payment method you used to deposit unless you used a method that does not allow withdrawals, such as Pay By Phone options like Boku or Siru and vouchers like PaysafeCard.

8. Can I receive a casino bonus with every payment provider?

No, some casinos exclude certain payment methods. In many casinos, Skrill and Neteller users are not eligible to claim certain bonuses.

9. Can I deposit with one method and withdraw with another?

Yes, this usually happens when your depositing method does not accept withdrawals. You will be prompted to choose another available payment method that best suits you.

10. Are there limits on deposit and withdrawal amounts?

Yes, these limits are imposed by either the payment method and the casino, sometimes both. However, limits can be increased if requested and after some verification checks take place.

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