During the early days of the world wide web, banking online was viewed as something to be very cautious about. Today banking online is seen as the most effective and trusted way to handle your money. This ability to transfer money between bank accounts safely is all thanks to the money transfer companies who continue to do phenomenal improvements. There is no need to go to the banks anymore as you can open your web banking browser or banking app on your mobile phone to check your bank account. As there are so many different kinds of online casino players that are leading a different kind of lives, the tech companies and banking payment providers are in demand to keep improving their ways to suit the users. This is why there are so many different kinds of payment providers so you as a user or player can choose what suits your bank management best.
The most popular way of banking are:
➢ Credit/debit cards such as; Visa Electron, American Express, and Mastercard
➢ E-wallets such as; PayPal, Neteller, and Skrill.
There are other banking options than the above which we will explain to your more in detail further down in the article.
We find that the e-wallets are the most efficient way of banking online due to Skrill and Neteller having very fast depositing and withdrawal methods. They have a great reputation for being fast and easy to use.
PayPal – One of the world’s most renowned e-wallet banking providers. PayPal was established in 1998. They are highly trusted by many online bankers across the world. The popular service company eBay bought the popular e-wallet PayPal in 2002 which increased the number of people using PayPal immensely. Sending money via PayPal means instant transfers. The person who sends the money can instantly deposit into his or her personal bank account. To start sending money with PayPal you need to have a credit or debit card registered with their account.
Neteller – One of the fastest e-wallet providers on the market. Neteller has the speed on their side when it comes to secure deposits and withdrawals. This global giant is famous for cooperating with the online casino companies handling their fees. In 2005 Neteller took over about 80% of the online casino money transactions and partnered up with MasterCard. With this e-money transfer service, you can withdraw funds directly using your own Net+ card or transfer money into your own or someone else’s bank account.
Visa – Visa has managed to stay is one of the most successful payment methods in the world for a long time. The biggest benefit to using Visa is that it’s accepted nearly on every single online casino website. Millions of people around the world use Visa as their credit/debit card banking option. It’s the local banks that provide you and the consumer with credit cards you carry with you in your wallet. The merchants and the retailers process your transactions.
Zimpler – This Swedish mobile payment company is great for those pokies players that are playing on the go. They were founded in 2016 and have ever since been one of the most popular mobile payment companies. You can make your deposits easy via your own smartphone. It works such as that you enter your mobile number and use the verification code that got sent to you. That’s it! It’s a smooth and easy transfer process for all the “up-and-go” players.
MasterCard – MasterCard is so renowned that there are probably only a very few amounts of people in the world who haven’t heard of them. Almost every online casino company offers this payment option. When you use Mastercard you submit the transaction to the issuer for authorization. The bank that issues the transaction will authorize it for you and reports it back to the merchant and thereafter deposits the chosen amount into the merchant’s bank account.
Skrill – Founded in 2001 and formerly known as Moneybookers this popular online casino payment option offers safe and secure money transfer. Skrill is a hugely popular choice with online gamblers due to its convenient electronic payment method. It’s regulated by the Financial Services Authority (FSA) in the UK, hence why online players feel trusted to use this great online banking option. Neteller is their biggest competitor as their paying out and in methods works very similar with great speed. To transfer money you can use your credit/debit card or even get your own Skrill wallet (Skrill bank card). The recipient can receive and transfer money only by using an email address or a Skrill account number to make transfers from one Skrill account to another.
American Express – Since the mid-19th century, American Express has been ruling the banking world. With their emperor payment methods, they hold around 25% of all US transactions. These cards are charged monthly by making money through annual fees that AMEX collects from the merchant. These cards are first-class and have got reputable and very high standards for which clients they choose to get an AMEX card.
ecoPayz – Founded in 1999 and have ever since offered a wide range of financial services. This e-wallet offers the same transfer options as most other e-wallet companies but ecoPayz has an added bonus of being able to withdraw funds directly to your debit or credit card also known as the ecoCard. This card can be used to transfer money to your loved ones as well as other companies that you would like to purchase from. A popular choice in the iGaming industry. The e-wallet company also offers help in 7 different languages and 45 different kinds of currencies are available to choose from. Instant transfers with no registrations fees and a Silver level upgrade available, what is not to love?
Bank Wire – This electronic wire transfer is well known in the online iGaming industry and beats the traditional wire transfer. The traditional wire transfer works such as that it goes from one bank to another network such as via SWIFT or Fedwire instead of directly to the company or person. Bank Wire allows you to transfer directly to the company’s or private person’s bank account. To execute this way of transferring you can choose to go via a local bank or a cash office. This is a favored option for offline payment service users.
eCheck – Being used as a payment option on a diversity of online casinos, eCheck works in a very similar manner to how paper checks work. The biggest difference between a regular check and an eCheck is that eChecks are electronic checks. The check writer “signs” the eCheck using one of your own laptop, smartphone or tablet and then gives the eCheck electronically. The payee deposits the electronic eCheck then clears the eCheck to the paying online bank account.
Western Union – Here’s another one for the players who prefer to use offline banking options. Western Union works in such a way that you find your local Western Union shop where you send the chosen amount to the receiver. The Western Union shop provides you with a 10-digit Money Transfer Control Number (MTCN) that the receiver must be given to be able to take out the money from their receiving end. Both parts are required to provide Western Union with a photo ID before being able to send or receive money.
Boku – Boku is a mobile banking provider that allows users to purchase digital products and services with their mobile number. Playing on your favorite pokies can be deposited via Boku. When registering with Boku no credit card is required.
Payforit – Payforit allows the casino players to deposit via their payment service through your phone bill. All you need to do is register your mobile phone and when using Payforit it will be added to your phone bill that you will have to pay at the end of the month. Which means it will get deducted from your Pay As You Go balance.
Cryptocurrency payment options
This global sensation is an online digital currency where encryption techniques called blockchains are used to generate units of currency to verify the transfer of funds. It’s an independently operating online “bank”. Don’t mistake it for being a bank because cryptocurrency is not, it’s their own online currency where people all around the globe can control their own money. It’s a decentralized electronic cash system where no servers or no central controlling authority is involved. These transaction files consist of a sender and a recipient’s public key, also known as a wallet address. Before being able to transfer coins “money” it needs to be signed off by the sender with their own private key code. Amazingly, online casino companies have the option for the players to pay with their cryptocurrency.
Bitcoin – This first decentralized currency gives the people complete control of their own “money” which are digital coins. Bitcoins can be used worldwide to purchase products and transfer “money” coins to other Bitcoin users which can be transferred into other currencies. Many online casino companies are happy for their players to use their Bitcoins to deposit. The Bitcoin wallets keep a secret piece of data code which is the senders/users private key or seed to be used for their transactions.
Ethereum – The Ethereum blockchain works such as that instead of mining for bitcoins the player or user work to earn Ether. Ether is a crypto token that can be used as an online payment option. Although they’re new on the block, Ethereum continues to grow due to their ability to do anonymous payments.