The casino payment methods for transferring money are among online casinos' most important security features. In our comprehensive guide to online casino payment methods, we want to inform you about transferring money to and from your player account.
We will describe which online casino payment methods are available and what you should always consider. You can also find all these approved methods when giving Soccer tips at 20bet.
What you should look out for when making online casino payments
Pay n Play Casinos Trustly AppTransferring money online has undoubtedly never been as easy, secure and fast as it is today. If we look at all payment methods at online casinos, the large selection of different payment options becomes immediately apparent. They all have advantages and disadvantages, which undoubtedly play a role in deciding for or against a payment provider.
We want to help you find the payment provider that suits your preferences. However, before we go into detail, we will show you what is generally essential when it comes to online casino payment methods:
- The user-friendliness of the payment methods in the real money casino
- The duration of the money transfer, especially for withdrawals
- Is the payment method accepted frequently, mostly or only rarely?
- Is the payment method even available in my country (e.g. in Austria, yes in Germany, no)?
- Are fees charged for use, and how high are they?
- Can a deposit bonus be used with the payment method or not?
- What are the maximum and minimum limits for online casino deposits?
- Can deposits or withdrawals only be made with the casino payment method?
EC and credit cards
Debit and credit cards were the first traditional payment methods to move to the Internet. Nowadays, payments with Visa and Mastercard are more or less possible online. Only American Express is accepted much less frequently.
Credit card payments in online casinos are characterized by high-security standards, although there have been repeated reports of hacker attacks on card issuers in the past. These credit card payments also clearly include paying with a VISA in online casinos. It is also essential for players to know that these online casino payment methods have one of the most extended payout times of three to five working days.
1. Visa
Visa is the oldest credit card issuer. With an annual turnover of around 22 billion dollars (2020), Visa is in second place worldwide and is only just beaten by its closest competitor, Mastercard. In addition to the classic credit card, Visa offers a prepaid card, Electron, which is sometimes also accepted in casinos.
However, you should be careful about fees, as the annual costs are somewhat higher depending on the card status (e.g. Gold or Platinum). As far as transaction fees are concerned, these are charged to the casinos, which only pass them on to players in rare cases.
2. MasterCard
With an annual turnover of just over 22 billion dollars, Mastercard, another credit card issuer from the USA, is ahead of Visa as the market leader. Like Visa, Mastercard's payment method offers various cards with extra services in casinos. A prepaid Mastercard is also available and does not require a credit check.
As with Visa, the annual fees depend on the card selected. You will also have to wait between three and five working days for requested withdrawals to be received.
3. EC cards
Admittedly, the term EC card is not entirely accurate in our case. While almost every card that is not a credit card is colloquially referred to as an EC card, there are differences. In Germany, in particular, this is sometimes highly complicated, as two other terms come into play with the Girocard and Maestro, and to make the chaos even more stressful, some banks, such as the Sparkassen still have their own (Sparkassen-Card) cards.
Maestro cards, issued by Mastercard, were discontinued on July 1, 2023. This leaves only EC/giro cards and debit cards. It is important to note that only debit cards can be used to make online payments, including online casino deposits.
Online or instant transfers
Banks are no longer the only ones that allow you to make an online transfer. You only need your online banking access data and a transaction number (TAN). However, traditional online transfers have a significant disadvantage. Although they can be made around the clock, they may not be processed until the next working day, depending on the time of day.
This is precisely where instant transfer providers come into play. The transfer works the same way with them and is just as secure, with the difference that the payment is made immediately. This makes these providers the ideal online payment method. However, as an online casino payment method, you will experience the disadvantage that money can only flow in one direction, i.e., withdrawals cannot be made with instant transfer providers.