Banking Methods for online casinos

When you decide you are ready to start playing for real money, you might wonder how, where and when to get your cash into the slot or onto the table at an online casino.

By following the expert advice of the Online South Africa Casinos gurus your online gambling will be easy, stress-free and secure.
Online gambling for real money is huge – multi-billion dollars per year huge. The reason for this is the stringent security that the top licensed online casinos offer to players. There are a multitude of banking methods you can choose from when it comes to depositing and withdrawing money from your casino account. Each method has its followers and each method comes with certain pros and cons.
OSAC breaks these methods down to give you a guide to navigating the banking options available to you.

The most trusted banking methods for online casinos

You have completed your registration. You have used the bonuses to try out the games. Now you want to play for real. What banking method should you use:

Credit card  banking methods for online casinos

Debit card

EFT

• eWallet

• Prepaid card

• Cryptocurrency

These are not the ONLY banking methods available. Different casinos can offer you different options, but these are the most popular and the most trusted.

Whichever method you do choose to go with, always follow the basic rules of transacting over the internet:
• Do not leave your account open when you are not in front of your device.
• Do not share your log in and password details with anyone else.
• Do not use autofill when you are putting in your bank details and passwords.
• Do not leave your details and passwords lying around.
• Always make sure that you are connecting to the online casino site through a trusted and protected wireless network.

Credit card

credit card

Your credit card has a number of advantages when it comes to online gambling. Mastercard and Visa are two of the most trusted banking transfer options in the world, giving you peace of mind that your password- and PIN-protected transactions are secure and you have a trail if anything goes wrong.

Deposits from your credit card happen almost instantly and your credit facility allows you a little leeway when you want to play a bit but do not have the ready cash in hand (although this must be monitored extremely carefully for responsible gambling).

There are delays when getting paid out into a credit card account due to the online casino making sure it has all your correct and verified details.

Debit card

Debit cardAs with your credit card, Mastercard and Visa are both internationally trusted with the Mastercard Maestro and Visa Electron debit cards giving you secure, password- and PIN-protected methods of transacting with the online casino.

As with most withdrawal methods, the verification process before payouts can be delayed by a day or two.
Remember: unlike credit cards, debit cards work off the money you actually have available in your account so take care when using this method that you do not lose track of your budget.

EFT

EFTElectronic Funds Transfers are a widely accepted method of transacting with online casinos and, because they are a direct deposit from a bank account into your casino account, are very secure. The drawback here, however, is that EFTs can take a few days to clear.

eWallet

eWalleteWallets are a popular choice for punters due to the almost instant payments into and out of your account. PayPal is the world’s most famous eWallet, but online casinos and players seem to view Neteller, Skrill and ecoPayz as the best eWallets for their needs.

Prepaid card

Prepaid CardPrepaid cards give online players an option to gamble discreetly by utilising a virtual buffer between their bank account and their online casino account. They also help when it comes to budgeting as you can only spend the amount that is actually available and preloaded onto the card. Popular versions of prepaid cards include Entropay.

Cryptocurrency

cryptocurrencyAs can be expected in an industry that is so digital, digital currency like Bitcoin, Ethereum and Litecoin are also methods to deposit and withdraw funds. Bitcoin is the biggest and most popular of the cryptocurrency methods and playing using Bitcoin can often unlock some very exclusive bonuses for players.

How to make an online casino deposit

Step 1
Sign up or log in to your chosen online casino, create a profile and open an account.
Step 2
Depending on your casino, you may have a deposit and withdrawal option on your profile page or you may need to navigate to a cashier page,
Step 3
Select your Banking Method
Step 4
Follow the instructions on screen.
Step 5
Wait for your deposit to be verified and the funds to show in your online casino account. Depending on your banking method this can take from a few minutes to a few days.
Step 6
Choose your games and get playing!

Some notes on banking methods

Different banking methods have different wait times before your funds are finally transferred. Credit cards and prepaid cards are instantaneous, Bitcoin can take an hour or two, EFTs have longer clearance times (sometimes up to four or five days).
Withdrawals face the same delays but, with the added verifications needed to ensure that the money is going to the right account (your account), you can usually expect at least one to two days before it reflects in your account.
As with anything related to gambling, transferring money or transacting in the digital realm, always make sure you follow the strictest security protocols. Gambling is a fun activity but remember – always gamble responsibly.

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Debit card
As with your credit card, Mastercard and Visa are both internationally trusted with the Mastercard Maestro and Visa Electron debit cards giving you secure, password- and PIN-protected methods of transacting with the online casino.
As with most withdrawal methods, the verification process before payouts can be delayed by a day or two.
Remember: unlike credit cards, debit cards work off the money you actually have available in your account so take care when using this method that you do not lose track of your budget.

EFT
Electronic Funds Transfers are a widely accepted method of transacting with online casinos and, because they are a direct deposit from a bank account into your casino account, are very secure. The drawback here, however, is that EFTs can take a few days to clear.

eWallet
eWallets are a popular choice for punters due to the almost instant payments into and out of your account. PayPal is the world’s most famous eWallet, but online casinos and players seem to view Neteller, Skrill and ecoPayz as the best eWallets for their needs.

Prepaid card
Prepaid cards give online players an option to gamble discreetly by utilising a virtual buffer between their bank account and their online casino account. They also help when it comes to budgeting as you can only spend the amount that is actually available and preloaded onto the card. Popular versions of prepaid cards include Entropay.

Cryptocurrency
As can be expected in an industry that is so digital, digital currency like Bitcoin, Ethereum and Litecoin are also methods to deposit and withdraw funds. Bitcoin is the biggest and most popular of the cryptocurrency methods and playing using Bitcoin can often unlock some very exclusive bonuses for players.

How to make an online casino deposit

Step 1
Sign up or log in to your chosen online casino, create a profile and open an account.
Step 2
Depending on your casino, you may have a deposit and withdrawal option on your profile page or you may need to navigate to a cashier page,
Step 3
Select your Banking Method
Step 4
Follow the instructions on screen.
Step 5
Wait for your deposit to be verified and the funds to show in your online casino account. Depending on your banking method this can take from a few minutes to a few days.
Step 6
Choose your games and get playing!

Some notes on banking methods

Different banking methods have different wait times before your funds are finally transferred. Credit cards and prepaid cards are instantaneous, Bitcoin can take an hour or two, EFTs have longer clearance times (sometimes up to four or five days).
Withdrawals face the same delays but, with the added verifications needed to ensure that the money is going to the right account (your account), you can usually expect at least one to two days before it reflects in your account.
As with anything related to gambling, transferring money or transacting in the digital realm, always make sure you follow the strictest security protocols. Gambling is a fun activity but remember – always gamble responsibly.