Payment Options

 When you play at an online casino you know that to ‘make money you have to spend money’. With that said you’re going to need a method of depositing money into your online casino account with which to play some of the exciting games they have on offer for you.

So here at Casino Bonuses Index we’ve compiled a roundup of the most popular methods of depositing at an online casino and staying true to our promise we’ve given an unbiased overview of each one, noting all the benefits and disadvantages of each and presenting them to you in a simple and easy to understand format so that you can make an informed choice on which to use for yourself.

Bank transfer
Bank transfers are another fast way of transferring money electronically. Essentially it’s a transfer of funds from one account to another. It can be person to person, between different financial institutions and also between companies. This can be done over telephone banking, at a branch or via internet banking.

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Bitcoin
Bitcoin is the first incarnation of what is known as a ‘cryptocurrency’, created by Satoshi Nakamoto in 2009. It’s operates over a consensus network and is a true digital currency system. It was the first of its kind, a decentralized payment network that operates on the peer to peer model with no central bank or outside involvement and as such there are no ‘owners’ of the network itself. It’s an open source project which has many contributors and users worldwide.

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Cheques
A cheque is a form of payment through a bank or financial institution that gives permission for the bank to pay an amount of money from one person’s account to the account of the person who the cheque is written out to.

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Click2Pay
Click2play is an eWallet in the same vein as PayPal, NETeller and Skrill. It’s a firm favourite amongst casino users because it’s one of the most widely accepted eWallets at online casinos worldwide.

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ClickandBuy
Founded in Germany in 2000, Clickandbuy is a large e-commerce billing and marketing platform used mainly for paid content and service transactions. ClickandBuy is available in the U.S., Europe and Asia. You are able to make secure payments on 7000+ merchant websites worldwide and ClickandBuy are partnered with organizations such as Skype, iTunes, EA Sports, AOL and many more.

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EcoPayz
Known formerly as EcoCard, EcoPayz was created in 2000 and is a company based in Europe that focuses on the processing of online payments. They also offer an alternative to credit cards through the ‘ecoCard’, which ensures maximum security and complete confidentiality when shopping online.

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EntroPay
Modelled primarily on the same system as a Visa Card, EntroPay is a prepaid virtual card that works in the same way as traditional credit or debit card. EntroPay is available in Euro’s Pounds sterling and American dollars. An EntroPay account is not a bank account so you cannot setup direct debits or issue cheques but you receive a virtual Visa card with which to process your physical and online transactions.

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Maestro
Maestro is a debit card service that was created in 1992 as part of an initiative of MasterCard Worldwide. Like most debit cards, Maestro cards allows the cardholder to withdraw funds from ATM’s or make purchases both physically in store and online.

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MasterCard
Created in 1966, MasterCard is an international organization whose essential function is to process payments between the banks of merchants and consumers. As such, MasterCard branded credit cards are accepted in more than 200 countries worldwide and by more than 20 million companies. In addition to this a MasterCard credit cards can be used both domestically and internationally in ATM’s to withdraw a range of currencies.

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Neosurf
Launched by the company Neosurf Cards SAS, Neosurf is a prepaid card that may be purchased at any newsstand and enables its holder to make internet purchases easily, anonymously and above all securely. Modeled after other products of the same type such as Paysafecard, the Neosurf card has a set amount of credit, which is ideal if you want stay within your budget and control your finances.

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Neteller
Founded by Optimal Payments PLC in 1999, Neteller is an online payment system that is regulated by the Financial Services Authority (FCA) in the UK. Even though Neteller isn’t officially classed as a bank, the system it operates under is very similar. Funds are kept in separate secured accounts so that in the event of bankruptcy all client balances can still be honoured.

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PayPal
Founded in California in 1998, PayPal was a revolutionary online payment system when it was first introduced. This led to the company being subsequently acquired by eBay in 2002. Currently PayPal is the second most widely used payment system on the Internet, being used regularly by player frequenting online casinos and poker sites.

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Paysafecard
Established in early 2000, Paysafecard is one the largest operators of financial services via the internet in Europe. It’s a very capable service and used widely to pay online, most notably used by players at online casinos. It’s available in 37 countries, has a reach of over one billion customers and is accepted in more than 5000 online establishments, mainly those geared towards entertainment.

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Reverse withdrawal
Reverse withdrawal is a method used mostly by online casinos as a way of depositing money back into their online casino account. Most casinos that offer this function offer it without a fee however this option is only available while the withdrawal request is currently in progress. When a player makes a withdrawal request the process can take a certain amount of time. If during that time the player wishes to re deposit some money into their account to play again, they may cancel their withdrawal request and redeposit the funds back into their online casino account almost instantly.

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Skrill
Founded in 2001 under the name of ‘Moneybookers’, Skrill is a leading electronic payment system based in the UK and as such is regulated by the Financial Services Authority (FSA). They offer a deposit and withdrawal system that is available in 200 countries and payments can be made in over 30 different currencies. Skrill is especially popular among players at online casinos; they have more clients than PayPal in some countries and have a worldwide client base.

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Ticket Surf
Founded in France during 2003, Ticket surf is a method of payment that allows you to purchase goods and services online. It works in the same way as Paysafecard in that you purchase a prepaid voucher and then use the code to make your purchases online. The system itself allows you to transfer money via different accounts and to make deposits and withdrawals in total anonymity.

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Ukash
Ukash is a financial services provider based in the UK that allows online payments through vouchers purchased with cash from a retail outlet, working in the same manner as Paysafecard and Ticket Surf. It’s available in more than 50 countries and from one of over 425,000 physical points of sale worldwide. The system allows payments to be made using voucher codes. You buy a specific denomination of Ukash voucher and then use the 19 digit code provided to make your purchases online.

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Visa
Launched back in 1958 as Bank Americard, Visa was originally Bank of America’s credit card. Now Visa Inc. is an international firm that holds a 44% market share of credit cards and 48% in debit cards. It facilitates transactions between financial institutions, merchants, customers and even government organizations. It allows you to make payments at one of the millions of points of sale worldwide, in online shops and online casinos or physically in a store. The cards can also be used to withdraw money out of an ATM, both domestically and internationally.

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Visa Electron
Visa Electron, a type of branded debit card that is still available across large parts of the world was introduced in 1985 by Visa and acts as a simpler version of the Visa debit card. The main difference between it and the Visa debit is that the Electron card requires the funds to be present to complete a transaction. Accounts that are attached to a Visa Electron card do not have formal overdraft facilities and it is usually issued on entry level bank accounts. In addition to being able to pay for a variety of goods and services both physically and online, the Visa Electron card allows you to withdraw funds from ATM’s that carry the Electron logo.

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WebMoney
Founded in 1998, WebMoney is owned by Russian firm WM transfer Ltd. It represents an entire platform from which you can make online payments or send and receive money between registered users. On top of this you can apply for loans, exchange currencies and many other types of online financial transactions. They also issue Visa and MasterCard debit cards and a WebMoney ‘e-wallet’ that can be charged with funds and used to make online payments or deposits to an online casino.

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Western Union
Since 1832, Western Union has specialized in providing a safe monetary transfer method and subsequently is one of the oldest payment methods in existence. Primarily it deals with cash transfers between two parties in different countries. Its headquarters are in Greenwood Village, Colorado in the United States. Western Union money transfers are available in over 200 countries across the world.

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The most common payment options

This is a roundup of the most commonly used methods of payment in online casinos. Some maybe more accessible to you than others, for example you may already use a credit card like a Visa or MasterCard for your online purchases so it would make sense for you to use the same credit card to deposit at an online casino, but there will be some methods that you might prefer over others and some that you may not have known about previously.

In general most people have debit cards attached to their bank accounts but there are newer options available to you such as prepaid cards and e-Wallets which keep transactions from appearing on your main bank account statements therefore allowing you greater anonymity while playing a few hands of poker or blackjack at an online casino.

Options that allow deposits and withdrawals

Also in our roundup you’ll find payment options that allow for both the depositing of funds and the withdrawal of funds in an online casino. To date, the only systems which allow for both using the same account are e-Wallets and debit cards. Some credit cards do not allow for withdrawals from an online casino because there are issues and concerns with money laundering or fraud.

The pros and cons

For each payment option we give you some pros and cons of using that particular service. This acts as a quick reference guide when coming to a decision about which payment options to use and also highlights the best and worst features of each option so that if there’s something which you really don’t like, you will be able to see it straight away and look at an alternative from our list.

Fees and charges

Where applicable, we have included the fees and charges for each payment option. This will help you when choosing a payment option because some of them charge for certain services such as transfers or deposits and some e-Wallets even charge when receiving money in from your bank account so it’s good to be aware upfront of how much it’s going to cost you in the long run. Pay particular care when deciding which to use at an online casino because you could find you run into some issues, especially when trying to withdraw funds from you casino account.