Popular Banking Options

The wide-spread use of online banking options wasn’t that popular at the beginning of the digitalized era. Of course, the idea of not going to banks and remotely managing your accounts via online banking and mobile applications was always attractive. However, at first place, online banking methods should have established credibility in order to become accepted by a larger public.

Once the users understood that online money transactions were safe, secure and way faster than traditional ones, their enthusiasm for online banking grew bigger and bigger. The growing popularity of online banking certainly doesn’t affect the traditional one. Anyway, online payment methods are especially convenient for clients of online gambling platforms. This brings us to the following questions – What popular banking payment methods are there and which are their advantages?

What popular banking options are there?

One of the key factors that make your online gambling experience even more enjoyable is the ability to deposit and withdraw money with speed and security. The quality of the provided payment methods depends on the general quality of the operator. All in all, most online operators provide more or less the same options.

Various types of payment methods can be found in the online gambling world. Most of the operators also provide the possibility to use some of the traditional banking options. They are fewer but they exist. It just proves the fact that the expansion of online banking options doesn’t put an end to the traditional methods.

Banking payment methods

You can use traditional banking services to transfer funds directly from your bank account to your online casino or sportsbook account. Since this type of transfer is straight, without any go-between, there are usually no fees. Two types of transfers are possible:

  • Bank Wire
  • Instant Bank Transfer

In both cases, you should use the details of your online sportsbook/casino account to transfer funds. You can do it either in your bank or online if you don’t feel like going out. The only difference is the processing time. As the name implies, Instant Bank Transfer instantly transfers funds from one account to another, which is not the case with transactions made via Bank Wire.

Online banking methods

Besides these traditional methods including the user’s bank account, there are some interesting alternatives provided by online gambling sites for their users’ convenience. One of the most important things is being able to access your account wherever you are and whenever you want to.

Some of the most popular methods offered by many online casinos are the following ones:

  • Credit and Debit Cards
  • e-Walltes
  • Prepaid Cards and Instant Payment Services
  • Phone Bill
  • Bitcoin Payment

Let’s take a look at each one of these methods and see what to expect while using them.

Credit and Debit Cards

Credit and debit cards are maybe one of the easiest to use online banking payment methods. The whole procedure is similar to online purchase. When using a card, you have to enter all the relevant details you need to provide while shopping online.

Most of online casinos or sportsbooks accept a wide range of cards. However, keep in mind that some online operators charge additional fees for depositing or withdrawing money, while others don’t. The following cards are usually accepted:

  • VISA
  • VISA Electron
  • MasterCard
  • Maestro, etc.

e-Wallets

e-Wallets, also known as digital wallets are also pretty common in the online gambling industry. Basically, all the online bookies and casinos accept them as a payment method. Via this option, you can easily transfer money from your wallet to your website. All the information are strictly protected. The operator only gets to see the details of your e-wallet, not your bank or card details.

Usually, funds are transacted immediately. However, the withdrawals have some charge. Skrill, NETELLER and PaySafeCard are the most common options. All of them belong to the same company. PayPal is also one of the most frequently used e-wallets, but it’s not that common option within gambling platforms. EcoPayz and WebMoney are also among some of the popular methods.

Prepaid Cards and Instant Payment Services

Prepaid cards and instant payment services are good options for depositing money. When it comes to the first option, the good thing about it is that it allows you to control how much money you spend. Paysafecard and EntroPay are two of the most used prepaid cards.

Instant payment services work as an intermediate between a bank account and a player’s account. Some users want to keep apart these two, so instant payment services bring a perfect solution. Just like the name says, the transactions are instant. In most cases, fees aren’t charged, but then again it’s something that depends on the online operator.

Phone Bill and Bitcoin Payment

These two options are among the newest and the most innovative online payment methods that can be found on some of the gambling websites. You can make deposits via your mobile phone. Just choose the amount and it will be charged to your mobile phone bill.

We don’t have to say how much bitcoin has recently gained popularity. The key feature of this payment method is the privacy it provides. The bitcoin network works for itself, so users can easily send bitcoins between them without having to identify themselves. This degree of privacy is very attractive to users of gambling sites who sometimes are still pretty suspicious when it comes to sharing their personal data.

Popular banking methods: Conclusion

The truth is that gambling websites offer various banking methods for transferring funds. In our article, we have given an overview of some of the most popular ones. You can see how to use them and what are their advantages.

However, every online gambling operator accepts different payment options and defines specific terms and conditions. That’s why it’s highly important to check the terms of use before you chose your payment option.