Online casinos are getting stronger by the day. People around the world have embraced this form of entertainment. As such, financial companies are also in a race to join the bandwagon. Today, we’ll talk about the ways you can fund your casino account.
1. Bank Transfer
One of the oldest and safest ways to move money is by bank transfer. It is a process by which you send money from your bank to the casino’s bank account. Once the casino has confirmed the transfers, they move that balance to your casino account.
Bank transfer is slow. It can take up to three business days to complete the process. In addition to this, you must also verify your bank account with the casino. The verification process is a safeguard to guarantee that you are the bank account’s owner, not someone else. There have been many instances of online fraud and identity theft that now, there are legislations about banking compliance.
During the verification process, you should submit documents proving your identity. Casinos will only accept government-issued IDs. You also need to take a selfie and send that image to the casino.
Once the verification is complete, you can now transfer funds. To start, just initiate the transfer from your casino account. In the deposit area, there is a bank transfer option. Now, you need to enter the amount you wish to deposit. Some banks have an extra layer of protection. Every time you transfer funds, the bank will send you an SMS with a code. Enter that code in the casino deposit code box provided and wait for the finds to clear.
2. Credit and Debit Cards
The fastest way to transfer money to your casino account is via credit or debit card. The key here is to check what card processor or provider the casino accepts.
Here are the most common ones:
- Mastercard
- VISA
- American Express
If your card bears the brand, then you can use it to deposit funds. There is, however, a problem. Some bank issuers do not allow casino transfers. For example, there are banks in the Philippines that issue Mastercard credit and debit cards. However, once you use that card to deposit to a casino online like vulkan-vegas.pl, the transaction will not go through. It is blocked. If your bank does not allow casino transfers, your alternative is to use that credit card to fund an e-wallet. Then, you can transfer the e-wallet funds to your casino account.
Depositing with a card is easy. Just choose it as a payment method and enter the details like your card name, card number and CVV2. Make sure they match the details in your casino account, or the casino will not process the transfer.
3. Electronic Wallets
e-Wallets are digital payment processors where you can store money. The three biggest e-wallets for gambling are PayPal, Skrill and Neteller. PayPal, however, is not available in every country for gambling.
To use an e-Wallet, register for an account. All e-Wallet companies have a verification process, so complete that. Once done, add a funding source. Most e-Wallet accept credit and debit cards. e-Wallets also take money via bank transfers from checking accounts.
Card transfers to e-wallets are instant. Bank transfers can take three business days. Once the cash is in your e-Wallet account, you can now transfer the funds to your casino account.
Why even bother doing this? There are two main reasons. The first one is security, and the second one is as an alternative to blocked credit card transactions for gambling.
e-Wallet companies do not disclose your financial information to the receiving party. So, if you send money to someone, that recipient will not see your credit card number or bank account number.
4. Cryptocurrency
Cryptocurrency has now established itself as a financial staple. It is not a fad anymore—many companies now support digital currencies, which means that these digital coins are here to stay.
The two most used cryptocurrencies in the casino industry are Bitcoin and Ethereum. So far, these two are the most stable, which means that you and the casino have somewhat of a guarantee that the value of your coins will not diminish.
To transfer cryptocurrency, you need the ID of the casino. From here, you must transfer coins from your cryptocurrency account. Make sure you use the correct ID. If you mistakenly sent the coins to someone else, you can no longer retrieve them.
The best way to do it is to click on the ID or links that come from the casino. There are icons that, when clicked, allow you to copy the casino’s cryptocurrency ID. Do this instead of typing the ID manually. Manual typing is the worst thing you can do as it can certainly result in an error.
Cryptocurrency transfer is also instant, provided that you have enough funds in your cryptocurrency account. Cryptocurrency is also an alternative to blocked cards. You can buy cryptocurrency assets with your credit card and then use the digital coin to gamble.