Is there one Casino Payment Method to rule them all?
Online casinos have vastly expanded their funding options in recent years. Aside from credit or debit cards, there are a variety of web wallets, pre-paid cards and bank transfer methods available to you. With the growth of cryptocurrency, the options have expanded even more, but how does impact on you? Aside from additional choices, each of these payment methods offers different advantages as well as disadvantages. Considering all the factors, is there one deposit method that beats all the others? We analysed some of the more popular options to find out.
Why choose Paysafecard
Paysafecard is the most well-known pre-paid card option that you can use to fund your casino account. It is the easiest method to use, especially if you do not have a credit or debit card, or don’t wish to use them. All you need to do is buy a card pre-loaded the amount that you wish to spend and use the 16-digit number on your card to transfer the funds to your casino account. Because this card is not connected to your bank account or bank cards, it offers a high degree of security.
Paysafecard is essentially a voucher, which means that instead of depositing funds into the card, you buy a card that is a pre-loaded card with the value you wish to play. You can buy Paysafecards at any number of approved land-based outlets or you can buy them online. To buy an online card, create your account at an approved online vendor, select the value that you wish to buy and pay the vendor using one of the available payment methods. You will receive your PIN and can use that to fund your casino account.
One of the main disadvantages of using Paysafecard is that you can’t use this payment method to make a withdrawal. Because most casinos insist that you use the same banking method to withdraw funds from your casino account as you used when making a deposit, you may need to use a different banking option to make a second deposit before you can withdraw any funds. The best time to use Paysafecard is if you wish to try a new casino but wish to withhold banking information until you have built some trust with the casino.
Play Using Bitcoin
A few years ago, Bitcoin was virtually unknown, but now the pool of casinos that support this cryptocurrency option is widening rapidly. There are several advantages to using Bitcoin to play casino games. It offers fee-free transactions, online privacy, as well as instant deposits and withdrawals, so you don’t have the long delays associated with traditional banking processes. Bitcoin is also a convenient payment option, especially if you are playing in a different currency to your own. When you make a Bitcoin casino deposit, it will be converted into the currency you select.
The simplest way to get started with Bitcoin is to set up your Bitcoin wallet. Several online companies offer these, and they provide a way of storing your Bitcoins. You may need to provide personal and banking details to set up your wallet. Once your wallet is set up, you can buy fractions of Bitcoins (or whole ones if you really want to splurge). When you are ready to make a deposit into your casino account, simply follow the prompts for depositing in Bitcoin. Please note, though, that some casinos will disable bonuses if you deposit in Bitcoin.
Before you use Bitcoin to make a deposit, it is worth checking first if the casino will allow you to use this method to make a withdrawal. Most casinos will allow it, but some do not. When you want to withdraw your winnings, simply choose Bitcoin as your withdrawal method, and give the casino your public Bitcoin wallet number so it knows where to send your funds. The better crypto casinos will offer you instant deposits and withdrawals, and will not place an upper limit on either, so Bitcoin actually gives you a lot more flexibility than any other payment option.
The benefits of using Interac
Interac allows you to make a deposit into your casino account directly from your bank, without sharing your banking details with the casino. Only available in Canada, this payment system links a network of banks across Canada, and along with other services, gives players a safe way to make banking transactions online. Known as an extremely safe payment option, Interac transactions are also cost-effective and fast.
Because Interac is essentially a network that links multiple banks across Canada, you do not need to create an account or fund it in order to use it. You simply need an account at an Interac-linked bank and you need to be playing at a casino that supports Interac. When you need to make a deposit, simply select Interact and when the merchant gateway opens, select your bank from the list. This way, you will be able to transfer funds from your bank to your casino account with Interact as the privacy buffer zone between the two accounts.
Making a withdrawal from your casino account can take a little longer than the deposit, but the process is equally simple. When you want to cash in your winnings, indicate the amount you want to want to withdraw, select Interac as your payment option and follow the prompts. Depending on the combination of casino processing time and bank processing time, you could wait around 3 to 5 days for your funds to reach your account. Some casinos may offer Interac as a deposit option but will exclude it from the withdrawal options, so it is worth checking the banking section when choosing a casino.
This is why you should try Trustly
Since 2016, Trustly has helped gamblers to make faster, simpler, and safer payments to participating in online casinos. Trustly is similar to Interac in that it allows players across Europe to perform online transactions from their own bank accounts without sharing their banking details. Trustly is linked to a huge network of banks across Europe and any account holder can use their own bank accounts to shop or play online if the merchant or casino supports the payment method.
This payment method offers an easy way to make a deposit into your casino account using your own banking details, and you do not have to create a separate Trustly account and fund it as you would a traditional web wallet. Trustly basically uses your banking details to perform the transaction for you, so the casino never sees your details.
Making a withdrawal through Trustly is as easy as making your deposit and follows a similar process. Simply select the option, and select your country and bank when prompted, and follow the steps to complete the transaction. It can take 3 to 5 working days to process your withdrawal.
Payment Options Frequently Asked Questions
❓ What do I need to deposit with Trustly?
You need to have a personal bank account with a positive balance, in a local currency, with one of the many participating banks across Europe.
🙋♀️ Which payment method is best to use?
If you want to transfer directly from your bank account, but with an extra layer of security, then Interac or Trustly are the best options. Bitcoin is great if you want fast, nearly anonymous transactions with few upper limits.
💳 Can I use Interac in Europe?
Interac is a payment option that was created specifically for Canadians. If you like the method, try Trustly if you are in Europe.
💲 Do I pay deposit fees with Paysafecard?
There are no fees to make a deposit using Paysafecard.