Online Casino: The Advantages of Banking Methods
Online casinos are packed with a number of features and built-in tools that complete the experience in its entirety. An obvious one is the banking method, with many casinos offering solutions specifically targeted towards Canadian players. In this article, we’re going to take a closer look at the most popular online casino banking methods that are used in Canada. And if you need more help understanding which casinos offer the best banking methods, head over to www.casinoaucanada.ca, which was created to help players in Canada navigate the world of online casinos.
An Overview of Banking Methods
Online casinos shouldn’t just offer the most common payment methods such as major credit cards and so on. You have to understand that many players in Canada are not comfortable sharing details like that online. Similarly, some players prefer to have an alternative method of payment that can be used specifically for gambling purposes.
Additionally, perhaps the banking method available on a particular platform cannot be used for one reason or another. For example, it may not be available in the country they are residing in or they are just not interested in paying certain fees that are tied to the payment method in question. In this regard, all Canada casino operators should offer other options such as e-wallet systems, pre-paid cards, mobile banking, cheque, vouchers and others. Ultimately, this gives players variety.
In the long run, even casinos can benefit from this. Providers have the option to choose a preferred payment method. In some cases, companies like PayPal charge them ridiculous fees on every transaction. In fact, it’s 25%! Needless to say, this is unfortunate. That said, if casinos opt for a preferred banking option, this is generally tied to a bonus. In this way everybody’s happy; the casino doesn’t have to pay a dime and you can get your hands on a bonus!
Types of Payment Methods
Now that you’ve got some insights into banking methods, let’s take a look at some of the most common ones you can use during your casino experience.
An American multinational financial service corporation that is located in Foster City, California, United states. It allows transfers around the globe through some of the most common VISA-branded credit cards, debit cards and pre-paid cards.
Without a doubt, VISA remains one of the most popular banking methods that are used for online gambling purposes. This is due to the fact that it is a standard method available to most players around the world. It is also extremely convenient and doesn’t require you to open another account to manage your casino funds.
When it first launched the service, PayPal was intend for use on eBay. That said, it has evolved into one of the most popular fund systems around the world. Creating your PayPal account is as easy as 1, 2, 3! You can link several email addresses and cards to your account as you deem fit.
That said, you have to consider the cons here too. In this case, this affects the casino as PayPal charges 25% on every transaction made at the casino in question. Perhaps it won’t affect you, but it’s something to consider.
Paysafecard has become an extremely popular payment method amongst the online casino community. In fact, this is the perfect option for those of you who don’t want to share bank details to play casino games. It ensures fast payouts and it’s extremely safe to use on deposits.
Additionally, you can comply to better budget control as you can buy your playing funds in bulk. Paysafecard is also very reliable as you can finalise deposit instantly. Best of all, you don’t have to worry about astronomical fees because they’re quite low. The only disadvantage of using Paysafecard is that you cannot withdraw funds from your casino account. Other than that, the positives clearly outweigh the negatives.
Neteller is amongst some of the most commonly used e-wallet systems in the online gambling world. It is used in over 200 countries, and it’s expected to become the number one method of payment at various online casinos. However, there is a downside.
Whilst some online casinos allow you to use Neteller to claim your welcome bonus, many do not. This is because of potential bonus abuse, as they cannot carry out the due diligence checks that need to be carried out.
Like Neteller, Skrill is also up there amongst some of the most reliable e-wallet systems casino players can use. In fact, it sought to become a household name across the globe when it was acquired by Paysafe Group in 2005. There are no charges imposed on withdrawals, but there is usually a fee of 1.9% up to $20. That said, fees decrease if you use Skrill on a regular basis.
With regard to bonuses, here we have the same problem we discussed in the previous section. Not many casinos allow players to claim a bonus when using e-wallet systems like Skrill due to the fact that it’s very easy for players to create multiple casino accounts to claim multiple welcome bonuses.