There are a lot of choices to make when it comes to online banking methods. Users make their choice based on a variety of reasons, including the speed of the transaction and the commission fees.
The Four Most Popular Online Banking Methods and What Players Should Know
1) Credit and debit cards is a popular choice for players. This choice is winning a steady race compared to cash options. 56% of all mobile payments are done through a debit card and 48% through a credit card. Visa and Mastercard are the popular choices, though American Express is catching up.
The only downside to using an American Express card is that it is “American.” Players should already be familiar with the nationwide ban on online gaming, in the US.
The other two cards are still popular, in places like Spain and France, but the popularity is waning due to other options increasing in popularity.
Though credit and debit cards are easily accessible anywhere in the U.S. and Europe, they may not be accepted at some of the online casinos. Players who want to use this option need to make sure it is okay by the bank. Some banks do not accept it, in spite of the popularity.
2) The next option involves the pre-paid cards and other vouchers. Cards like PaySafe and UKash are gaining in popularity because of the high-security factor. The UK and European residents love this method and use it often.
Now a player cannot buy this card in the US. He or she needs to buy it from outside the US and transfer the funds electronically. This option allows a US player to choose a casino that accepts any US player and still use the banking method.
Two birds, one stone.
3) E-wallets are the next option to talk about. This method is preferred due to the ease and speed of the transaction. Players can usually get their money within a 24-hour window, sometimes less. Paypal is the most popular option to choose. The only downside is that not every casino is going to accept Paypal. Players do need to read the fine print on this.
Paypal is very popular in Europe, the UK, France, US, and Canada. The other two popular e-wallet forms are Neteller and Skrill. Some players may already be familiar with Skrill, as it was formerly known as “Moneybookers.” Players are advised to their research on these two because not every casino accepts them.
4) The last one has to do with bank wire transfers. It is secure and one of the more preferred methods. The main reason for the security is the identity check and the fee. This option can take up to 7 days to complete.
Other options include Bitcoin, which is rare but does exist, and bank transfers. The main option for bank transfers is Trustly and it is mostly used for deposits.
Every player needs to make their own choice. However, under the withdrawal methods, the e-wallet and bank transfers are the way to go. Under the deposit option, options like Paypal, Neteller, and Skrill are the preferred way. Every method has an upside and a downside to it. Not every credit, debit or banking card will be accepted. Each user is responsible for reading the fine print and choosing what works best for them.
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