That’s right, the first thing you should know are all 4 of the payment options you have in front of you: electronic wallets, credit cards, prepaid vouchers, and bank transfers. We’ll tackle each one of them in order to give you a clearer picture, and in the end, hopefully, you will find it a whole lot easier to make your decision.
1. Bank Transfers
As its name suggests, it revolves around the direct transfer of your funds from your bank account to the bank account of the online casino in question. You, as the player, may send the online casino a check drawn on your bank, or even give your bank instructions online. It’s worth mentioning that most online casinos will remit funds only by check. And since these check transactions could take as long as a week, or even ten days, we can’t exactly recommend this method as the best one. The fact that it’s rather rarely used in general, should speak for itself.
2. Debit Cards and Credit Cards
Since we mentioned the rarest option, it’s only fair to talk about the most commonly-chosen option as the next one on our list. The biggest advantage up their sleeve is their familiarity. Yes, it’s as simple as that. We all know that credit cards have been around for quite some time now, and people, use them for making all sorts of online purchases, such as travel tickets, or even handling their utility bills online.
Besides, chances are you’ve already got a credit card to your name, even if you haven’t used it for such a purpose as this one yet. Keep in mind, however, that there are 2 important disadvantages to using these credit cards. The first one is that certain providers don’t allow for players to withdraw any funds from online casinos into their card account. This is in some specific jurisdictions, but we’re not perfectly versed in law, so we’d rather not get into details, as it would take too long anyway.
The result of this is that the player will receive remittances via paper checks. The best thing you can do is clear this up, before you decide on using the credit card option. Second of all, there is also the very strict initial due diligence in this case, where the player must submit numerous documents to this casino. Which means that those who are keen on switching to new casinos on a regular basis, would certainly find this method more troublesome than necessary.
3. Electronic Wallets
The exact issue we just discussed above is overcome by the third payment option we are about to look into: electronic wallets! You can open an account with 1 electronic wallet provider, and simply fund it by using a credit card. This allows you to transfer funds to as many online casinos as your heart desires!
The due diligence of the credit card is done one time when this electronic wallet account has been opened. This type of wallet can also be funded directly from any bank account. Truly, this is the perfect option for all those players who do not own credit cards, or for those who have reservations when it comes to using them for such purposes.
We should inform you that such electronic wallets have currency and country restrictions, and the fact remains that quite the limited number of them operate in the U.S. Another setback would be that any transactions from such wallets could very well bare a financial cost.
4. Prepaid Voucher
Last but definitely not least, you have the latest payment option for online casinos: the prepaid voucher! The greatest advantage it offers the player is that they can say goodbye to the involvement of the banking system entirely! Most of the providers out there sell such vouchers for cash at most retail outlets. These kinds of vouchers contain a code, which you will need to enter at the online casino’s cashier. That’s it – your funds are transferred!
Seems simple enough, but another thing you should know is that, unlike with electronic wallets or credit cards, there are no records maintained of your transactions outside of the online casino. This is a fairly widespread payment option when it comes to the United Kingdom, but seems to keep on growing at a rapid pace in many other online popular gambling jurisdictions. Furthermore, you may be happy to learn that, in case you don’t feel like constantly making visits to the nearest outlet, you can instead buy prepaid vouchers online!