Online casinos have blossomed as technology becomes more advanced and easier to access, the vast majority of people owning a supercomputer (read: smartphone) in their pocket. But playing at online casinos isn’t without its pitfalls. Long verification periods, the chance a casino might go offline, running out of battery during an exciting game… But one area we’d like to take a look at in a little more detail today is payment methods.
A Word To the Wise Re Payment Methods
There’s no doubt about it: we’re living in a digital age and have been doing so for the past decade. But with cashless payments comes a fair amount of qualms and feelings of unease, and understandably so. At the end of the day, you play at an online casino, claiming they’re no deposit bonuses, for the entertainment value and the possibility of winning real money. You certainly don’t want to be burdened with the uncertainty of whether the payment method chosen is secure or not. This is where casinos’ gaming licences and reputations come in. We got in touch with Charles Ingel, who’s the gate-keeper for all content published at NoDeposit365.ca, and here’s what he had to say:
‘Quality assurance involves a plethora of features and cannot be pigeonholed into a mere category. When our team tests out reputability, a lot of factors come into play. A licence isn’t necessarily the ‘all-clear’ that certifies an operator as reputable or trustworthy. We also check what players are saying about the casino in popular online forums. Much of the feedback includes how payment methods are tackled and whether there were any issues in terms of speedy deposits and withdrawals and, most importantly, security.’
Looking at Different Payment Methods
So long as you’re gambling at a safe and trusted casino, one method of payment shouldn’t be any less secure than another method of payment. That being said, some payment methods are widely considered safer than others. Let’s take a look at what’s on offer and how they stack up.
Visa and Mastercard
Trusted the world over, Visa and Mastercard both come out on top of our list of the safest payment methods. With protections in place like advanced fraud detection, two factor authentication, fast (and usually free) network operations, and the ability to be used all over the world, these two providers are considered the gold standard. Most banks offer either Visa or Mastercard cards for their customers in credit and debit cards, and sometimes in prepaid gift cards. Be mindful that some online casinos may not accept Visa or Mastercard credit cards, but only debit cards and/or prepaid cards.
Although PayPal has somewhat waned in popularity in online payments, due to their fee structures versus other payment providers, they are still considered a trustworthy player in the space. With PayPal, you can either deposit funds in your PayPal account or link directly to a bank account to access funds. Withdrawal of funds to a bank account generally comes with steeper fees. Do be aware that PayPal’s famous Buyer Protection program is not available when you are using PayPal to play at online casinos. To read about PayPal’s policies when it comes to gambling and gambling you can have a read here.
The Canadian interbank system, Interac, can also be used as a payment method for some online casinos that are available in Canada. This national, trusted network can be a good (and trusted) way to transfer funds. With Interac, you may be able to transfer directly into and out of your own bank account from an online casino.
Skrill is another worldwide payments solution that offers an e-wallet, not unlike PayPal. With advantages like near instant transactions and global trust, Skrill could be a good option if you already have access to this provider. And if not? It’s a simple signup and can be used in most places. The advantage of Skrill over PayPal is that it may usually have smaller fees. When using the e-wallet over withdrawal to a bank account, these can be significantly more beneficial.
The Bottom Line
Each payment method has certain attractions and detractors to use. It generally comes down to personal preference, and most people are happy to use a method they’ve used elsewhere many times before. Do be aware that some casinos and payment methods have longer wait times both in transferring to a casino as well as transferring out of a casino. Make sure to read the fine print on both sides of the transaction before going ahead for ultimate peace of mind. And lastly, check the online reviews to ensure the casino itself is safe – and you’ll have happy betting from here on out.