What are the Fastest Payment Methods at Online Casinos?
In order to play all your favorite online casino games, you need money in your account. The only way around this is to find no deposit bonuses. And even then, bonuses run out and you’ll need to add funds to your account. There are tons of payment options in the online casino industry. But they don’t all process money in the same way. Some are slow and can take days. Others are lightning fast—these are the casinos we’ll explore in this article. Interested? Let’s dive right in.
With more than 300 million customers and 28 million merchants, PayPal is the most popular digital wallet in the world. It came out in 2000 as a quicker alternative for credit card and ACH payments. And boy has it been successful.
PayPal’s secret, according to former CEO, Elon Musk, can be attributed to its fast speed, low fees and ease of use. Anyone can open a free account at PayPal. All they need is an email address.
A credit card is also necessary if you plan to add money to your account and send them to an online casino. When time comes to deposit your money, the e-wallet processes it instantly and free of charge.
Withdrawals from online casinos to PayPal are equally fast. But they are not always fee. You can expect your merchant to deduct PayPal’s 2.9% standard fee while cashing out your winnings.
Skrill is one of the most popular e-wallets at online casinos. It works similarly to PayPal expect it primarily targets industries its competitors shun: online casinos, betting sites and forex trading platforms.
Creating an account at Skrill is free. But you need a Visa, MasterCard or bank account to add money. You can also use Paysafe for deposits—Paysafe owns Skrill and Neteller. Sending money to casinos through Skrill takes seconds and is free of charge.
However, withdrawals aren’t always free. Many casinos charge for withdrawals. What’s more, some of them won’t give you a bonus if you use Skrill for deposits. Owing to that backdrop, ensure you find a casino that awards bonuses made through Skrill deposits or look for an alternative.
Google Pay is Google’s answer to Apple Pay. Interestingly, it works on both iOS and android devices. It’s growing pretty fast and is now a payment option at leading online casinos. Speaking of which, you can find a list of the best, fast payout casinos in the UK on this site.
Although Google Pay isn’t available at many casinos, it’s a worthy option when you have a chance to use it. It accepts Visa, MasterCard and PayPal for deposits. And after that, you can send money to casinos instantly with no charges.
Another interesting feature of Google Pay is that it has partnerships where you can access your bank account from its app. The benefit is that you can manage your expenses and view all the casinos you’ve recently transacted with.
Neteller is Skrill’s sister company. It originated in Canada in the early 2000s before Paysafe acquired it. Today, the e-wallet is available in 200+ countries, supports 26 major currencies and works with millions of merchants.
Like Skrill, Neteller originated launched to serve maligned industries—online casinos, sportsbooks and investment sites. Over time, it expanded to include other industries. All the same, Neteller is a fast payment e-wallet that guarantees instant deposits and quick withdrawals.
To use Neteller for casino deposits, you need to add money to your account by using MasterCard. As mentioned, it’s free to deposit money to casinos through Neteller. Withdrawals are also supposed to be free but you have to confirm with your casino on the same.
Launched in 2013, EcoPayz is a pretty popular casino payment method in the EU region. It’s a safe, cheap payment method for sending money to friends and family. But it also works fine for deposits and withdrawals from online casinos.
If interested, you can order an ecoCard: a prepaid MasterCard. But regardless of whether you use a regular account or an ecoCard, payments to casinos are free and quick. The only benefit is that a card comes with a VIP program that can help you save money in fees and increase your payment limits.
With that in mind, EcoPayz charges fees while depositing money to your account and while withdrawing it. Funding your account through bank transfer can cost up to 7% of your money. However, card deposits are cheap and cost no more than 2.9%.
Credit and debit cards might not be as fast as e-wallets, but they’re valid payment options at most online casinos. Visa, MasterCard and Maestro are the most preferred card issuers. You can deposit from $10 to $10,000 through card payments.
The benefit of cards is that you can avoid the charges at e-wallets and only deal with fees from your credit card provider. Additionally, withdrawals aren’t too slow. Sure, you need to wait for 1-3 days during withdrawals. But that’s only a couple of days long than withdrawals through e-wallets.
Another benefit of cards is that they are accepted in nearly every online casino. And they almost always qualify for bonuses. So, unless you like to withdraw money instantly, they’re an excellent option.
Cryptocurrencies are as fast, if not faster, than the best e-wallets in the world. Where PayPal processes 164 transactions per second, some crypto coins process 10,000 transactions. If it takes three days to withdraw money through Visa, cryptos only take a few seconds or minutes.
That said, there are things to consider before you use cryptos for casino payments. First, is Bitcoin accepted at your favorite online casino? Are you a fan of the cryptocurrency? The second question is important for several reasons.
Cryptocurrencies gain and lose value of the time. If you’re aware of this fact and okay with it, then you don’t have to worry when your $100 worth of Bitcoin drops to $90 in a couple of hours. Likewise, they could gain double their value overnight.