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How To Choose Banking Options In Online Casinos
Playing online casino games is exciting while winning real cash in those casino games is twice as exciting. However, how to deposit money safely to be able to make real money bets? And how to then withdraw the winnings safely from the casino site?
Even players in such countries as Canada, where online gambling is regulated, ask these questions. Casino payments are complicated, and choosing from dozens of popular casino banking methods in Canada is not easy. Many beginner gamblers fail to investigate the methods properly and choose wisely because they are not aware of how important it is to opt for the most convenient payment method available. This post is based on research and analysis by the CasinosHunter reviewing platform.
Why Choosing Banking Options Is So Important
Choosing online banking for payments to and from online casinos is important not only to protect the player’s funds and sensitive data they reveal when paying or receiving payments. In fact, the overwhelming majority of online payment processing companies provide service protected and decent enough for secure transactions.
The main catch is to be aware of all the nuances of collaboration of these online payment processing companies and online casino sites, certain local peculiarities of payments, and online casino rules that are often applied. The following tips will give a broader picture of web casino payments.
Five Crucial Tips on Choosing Banking Options for Online Casinos
When choosing an online payment option for depositing to and withdrawing from an online casino, many nuances have to be considered. The list below, created with the help of data gathered by CasinosHunter, explains those nuances for beginner gamblers to make more informed choices before they register and start making real money bets at online casinos.
Number of Options
The general rule of thumb is that the casino site offers more payment options, the higher the chances that this site is more reliable and reputable if it can connect many payment gateways. However, the potential customer must not be fooled by the mere number of all payment options.
They have to check how many options are there for depositing and how many to withdraw to avoid the situation when depositing is possible via various methods. At the same time, withdrawal is only possible via a handful of the slowest methods imaginable.
The next thing to double-check by the online casino gambler is what banking methods are legally available to them in their particular jurisdiction. At the time of writing, most casino sites do not provide general lists of banking options, instead offering locally available banking methods specifically for every registered customer, depending on their location.
If so, the player should ensure that the options available legally for their jurisdiction are convenient for them and that the player can get access to at least two of them without much trouble.
Deposit & Withdrawal Rules
While online payment processing companies have their own rules that need to be explored and considered, these rules rarely specifically impact transactions to and from online casinos.
Online casinos, in turn, can apply a bunch of specific rules both to deposit and withdrawals, impacting the payments and winnings of the customer directly. For example, some banking options can only be allowed for a deposit or withdrawal; the withdrawal processing time may differ for different options, etc.
One of the specific rules that can be applied by online casinos to the banking methods is the availability of bonuses depending on the deposit channel. For example, one of the pretty widespread rules is that customers depositing via Skrill and Neteller are not eligible for Welcome Bonuses or any deposit-based bonuses at all. Some sites may also limit banking channels allowed for withdrawing bonus winnings. So, if the customer considers a casino bonus, this rule should be remembered.
Fees & Limits
As a rule, online casinos do not apply fees to deposit and withdrawal transactions, while online payment processing companies do. Online casinos usually only apply fees if they want to withdraw their initial deposit without wagering it in games.
Both payment processors and online casinos have their minimum and maximum limits per transaction; casinos also have limits per day, week, and month. However, casinos usually require higher minimum deposits and allow lower maximum withdrawals than the limits allowed by the payment processor. This is why fees and limits applied should be double-checked by the customer beforehand.