Online banking is an electronic payment system which is highly popular worldwide, presenting advantages for both the bank and its customers. This electronic system allows electronic payments, sending instant money anywhere on the globe, online shopping or other processes without the need to visit the bank’s office.
In recent years, online banking has become the most popular way of banking among people around the world, for all the benefits it offers: safety, convenience and reliability. And this process is also available across devices, meaning that you can even use your smartphone to conduct your banking.
It was only normal that all the online industries adopt online banking processes to accommodate their customers. And the next logical step for the online gambling industry was to offer these services to the players as well.
Today, online banking is highly popular among the gamblers, as it offers them the chance to play for real money in their favourite online casino and conduct all the banking processes instantly. This means that no time is stolen from their gambling. Gamblers can load funds into their accounts, can withdrawal and conduct all the other processes needed at the click of a button.
However, before you start conducting online banking processes, you need to have an account opened at a bank. You can conduct your banking processes through your bank if it is allowed by the online casino, or through third parties. You need to register an account in an online casino before you start conducting online banking processes. When the account is set up, you will need to go through some security verification steps in order to further conduct fully secure online banking.
Even though the online banking industry and processes are so popular right now, there are still some operators out there who haven’t integrated the system yet. Therefore, if you want to play online games on the websites of such providers, you will have to conduct your banking through third party agents. These agents will intermediate your banking processes, between the operator and your bank. In addition, there are also some banks out there which do not allow online gambling processes, and this is another situation in which you can benefit from the help of third parties.
Online casino deposits via online banking
Online depositing through online banking is very popular, as many players either do not have credit cards or do not want to use them for their gambling banking processes. All you have to do is go to the dedicated banking page of your online casino and opt for the preferred banking method from the list available. You will be redirected to the website of the banking provider to complete the registration process.
You now need to either create an account or log into your account at the online banking provider. And, after you’ve gone through all the verification steps, you can access your account. After that, the only thing you have left to do is entering the amount of money you want to deposit and confirm the transaction. This payment method is highly appreciated by many players, and a generous percentage of them already know and use it.
Generally, using online banking for depositing at an online casino is free and the process can take up to several hours, depending on the provider, bank etc. This process can also happen instantly, usually when an instant bank transfer option is chosen.
Withdrawing through online banking
Online banking in online casinos also offers the possibility to withdraw your wins, but it might take more time than the deposits. The process has basically the same steps that are required in the depositing process, therefore most players will find it easy to work with it. When you want to withdrawal your money, go to the banking or cashier page in your online casino and opt for online banking in the withdrawal section. After you’ve filled in all the necessary details, all you have to do is authorize the transaction and complete the process.
The processing time of the withdrawal can vary from bank to bank, as well as from one online casino to another. You have to take into consideration that some financial institutions can reject the transaction as they might have anti-gambling rules. This is the reason why we advise you to make sure you know your bank’s policies regarding gambling activities, as it will save you time and effort.
Another aspect to take into consideration is the time the online casino will take to verify you before sending you the money. Generally, the online casinos require some verification when it comes to withdrawal, for example, a government-issued ID or a proof of address. This verification process may take more time, days to even weeks to complete. In addition, the online casino may also have a pending period, which can take up to 24 hours and, during this time, you are generally allowed to cancel your withdrawal.
Generally, the withdrawal process is free, but there will be some banks which will have fees for this transfer, another reason why you should check the bank’s policies when it comes to online gambling processes.
Most popular online banking methods
The most popular banking method among players remains the standard online banking. However, this process is not always available in all online casinos and there may be some fees, even though quite low and various, depending on the bank.
In addition, this online banking method can take up a lot of time, especially when it comes to international transfers. So, if you do not want to wait until your deposit is transferred to your online casino account, or do not want your withdrawal to take weeks, you can opt for intermediary services, provided by other operators.
As in the case of banks, the player must be over 18, or the legal age of the country he is in, in order to have a bank account, play in an online casino, conduct depositing and withdrawing processes and so on.
Types of online banking methods
In the beginning, when online casinos were just starting, they had available only the standard banking methods. Banks or financial institutions would send checks, receive services or transfer cash and that was about it. Those were the only methods to deposit and withdrawal from your online casino.
Nowadays, there are so many online banking methods to use on your favourite casino, that you have to do is know about them and choose the best one for you. You can conduct your online banking processes at an online casino through credit or debit cards, checks, quick deposits and instant cashouts, prepaid cards, bank transfers, cash transfers, e-wallets or cryptocurrencies.
Credit or debit cards
Credit or debit cards, and later on the prepaid cards have been and remain one of the top choices for players to conduct their online gambling banking in. Most of the major processors, such as MasterCard, American Express or Visa were the first ones to offer such services in land-based casinos.
Nowadays, these processors offer online banking processes, allowing players to transfer money from and to their credit cards, debit cards or prepaid cards.
Using check to conduct your online banking processes for gambling is a good option when other options are highly restricted. However, this is a process which takes longer than others, therefore it is not an option for today’s fast-paced demands.
Quick deposits/instant cashouts
This online banking process is conducted with through Pay N Play, available in Germany, Finland and Sweden, or Rapid Transfer, which is available through Skrill payments.
The prepaid cards are available at most merchants, making them one of the most convenient options for online gambling banking processes. The prepaid cards are available as virtual cards, as disposable ones or as reloadable ones. We have completed a list with the most popular prepaid cards out there but take into consideration that not all will be available in your country of residence. Therefore, we advise you to check the options you have and go for it!
- Vanilla Prepaid
Most countries will accommodate players via bank wire transfers, but there are also other options, such as iDebit or Interac online transfers.
The cash transfers are probably the oldest banking method out there, existing for a century before online casinos. This is today’s most preferred option as an alternative to those who do not like to conduct their banking through debit or credit cards.
With the help of technology, online banking has progressed and more and more companies took their slice of the pie in the industry. Nowadays, banking has digitized money management, including transfers and funds. There are online-based providers which offer these services, as well as online apps.
As such, the providers focused on making their customers less reliant on banking accounts or debit and credit cards, making sure they do not have to share sensitive information through third parties.
As we mentioned before, more and more players turned their attention to online banking processes for their benefits, and companies providing these services followed. Therefore, e-wallets and the services they offered became a reliable and easy to use option for online gambling banking processes.
Providers such as PayPal, Skrill or Neteller came to stage to offers gamblers facilities to and from online casinos. The mentioned companies are also among the top choices worldwide.
E-wallets are electronic wallets which you fund with real money in order to conduct different banking processes. The e-wallet is your personal wallet and no one else has access to it, being encrypted and safe. Your money will remain stored in the e-wallet’s server and you do not need to use sensitive personal information, they are not linked with your bank account or other as such.
You can use the e-wallet to deposit or withdrawal from an online casino, for online shopping, for money wiring or any other online banking process. You have complete control over the funds that are stored in the e-wallet and everything is secured.
Cryptocurrencies have been created by developers to completely decentralize the money market. As the first cryptocurrency ever created, Bitcoin has now the highest value in the crypto market, and it is also used as a currency exchange between cryptos.
As both cryptocurrencies and the transfers in which they are involved are 100% safe and secure, they have been used more and more in the recent years for all sorts of online transactions, including in online gambling. And more and more online gambling operators offer this possibility to their customers.
The most used cryptocurrencies on the market:
- Bitcoin Cash
Cryptocurrencies have been largely accepted as the currency of today because they offer 100% safety and reliability, as well as being completely anonymous, thus forgetting the need to share your private information.