A Brief Guide to Online Casino Banking

January 30, 2009 | Article Category: Casino Banking

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Making a Deposit:

Before attempting to make a deposit in an online casino, it is important to make sure that you are allowed to make real money deposits. Players from certain countries may not be able to play in all casinos. This is especially relevant to players from the United States.

The next step if for the player is to find out which payment options are available at their chosen casino. Casino's usually have a "Banking" page which will contain all the relevant information.

The three main traditional methods of payment used to buy chips in an online casino are bank or wire transfers, Western Union, and personal and certified checks. The problem with using these three methods of payment is that they all require the player to physically go and send the funds to the casino and that play can only begin when the casino has received the funds.

Credit cards are accepted by nearly all online casinos. However, United States residents may not be able to make their deposits in this way. US residents may have credit card payments rejected because of regulations in the US.

There are a number of e-cash options which ensure fast and secure transfer of funds via the Internet. There is no need to give credit card information for each deposit that is made. E-cash companies offer instant payment, an easy and safe way to deposit funds to an online casino, and instant payment. A number of casinos offer extra bonuses for players using one of their preferred e-cash methods. E-cash methods often require a credit card to transfer money to the e-cash company.

Making a Withdrawal:

Withdrawals are made after players win some money. It is certainly one of the exciting parts of gambling online. Withdrawals generally take longer to process than deposits and will usually take more than one day.

Before depositing money with an online casino, it is important to find out the options they have for withdrawing winnings. There should be a statement which states how long it should take to process the withdrawal. Some casinos will only make their payouts once a month, which can be very frustrating if it was not expected.

It is always worth taking a few minutes to search for online reviews to see if other players have been happy with the payout process before signing up with a casino.

Choose a casino with the following features:

• Instant credit payouts to a credit card. Credit card companies will only accept an amount up to the amount initially deposited through their company.
  
  
• Online casinos that do not add any fees for fund withdrawals.
  
  
• Casinos that will send a check for the total amount, or any additional amounts that cannot be "refunded" to a credit card, on the same day.

Many casinos require that a PIN number that has been received in the mail, or some other identification sent by fax is used for verification that the funds are going to the correct person.

While some of these policies are somewhat inconvenient, they are reasonable as they are put in place to avoid credit card fraud.

It is important to note that even when casinos let players withdraw funds immediately, it can still take a number of days or even weeks to receive the funds.

The most common, and easiest ways to receive winnings is to use either a check, a wire transfer, or an ACH direct-bank deposit. The timeframe for check delivery changes according to the courier company chosen. While wire transfers and ACH are fairly fast methods, players do need to divulge their bank account numbers in order to use this method.

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