Special Report: All You Wanted to Know About Payment Methods

Published November 4, 2014 by Mike P

Special Report: All You Wanted to Know About Payment Methods

Choosing the right payment method could save you money and release bonus funds. Check out this special report for vital guidance on payments.

Choosing a payment method for depositing with online casinos should not be limited to the credit card provided by your bank. Of course you can stick with your credit card, but alternative payment methods also exist. Finding the ideal option for you can depend on the country in which you live plus the financial rules applied by casinos and financial institutions.

Coverage

In spite of the internet connecting the entire world, only some digital payment methods can truly deliver global coverage. Leading off this special report are the best payment methods for coverage, with these consisting of Neteller, Skrill, CashU, bank transfer, VISA, and MasterCard.

Highest Deposit Fees

A major drawback for some web-based payment methods can be the inclusion of a costly deposit fee that hits your bank balance. Providers who charge the largest fees can generally be found within a percentage band of 8% to 14% for these charges. Before making a deposit, always check to see if you are incurring extra fees. Below are five of the highest chargers of deposit fees: 13.8% – Todito Cash (Mexican players only), 13% – Entercash (Wywallet), 9.3 – Paysafecard, 8.5% – Cash U, and 8% – Speedcard. Speedcard is a payment method accepted in Bulgaria, Czech, Denmark, Estonia, Hungary, Latvia, Poland, Romania, Slovakia, and Norway.

Tip #1: Look for payment methods whose deposit fees are around 2-5%.

Maximum Deposit Amounts

Like credit and debit cards, e-wallets do have their financial limitations. However, these spending limits are set across most users of these payment methods. For instance, the standard deposit limits for mainstream methods like Skrill and Neteller are €5,000. Comparatively, it is possible to obtain a paysafecard worth up to €5,000. When using VISA and MasterCard, these feature specific €5,000 restrictions for casino deposits.

For high rollers, however, there are alternative payment options that can be used for transactions that double the €5,000 rate to €10,000. The primary option for most players is an ecoCard, while Entercash can be used in Sweden and Finland and EUteller solely in Finland for €10,000 deposits.

Tip #2: While you should pay attention to maximum deposit amounts, don't forget to check the other fees of the payment method.

Maximum Withdrawals

Although there are regular stories of casino players winning huge sums of money, you don’t often hear the practicalities of actually obtaining the winnings. For starters, you should know that large sums of winnings are typically paid out as instalments on a monthly basis. To speed up the process, it is smart to use payment methods that can withdraw larger sums.

At the lower end of the scale, Skrill, Neteller, paysafecard, MasterCard, and VISA can all withdraw €2,300 in a single transaction. Moving up to the next level, it is possible for many European players to withdraw up to €5,000 when using Speedcard.

Most Popular Scandinavian Payment Methods

Entercash is emerging as a popular method, with players able to use their bank accounts and mobile devices to make payments. The primary appeal is that deposits can be made up to €10,000 for players situated in Finland and Sweden. In addition, transactions are completed instantly. EUteller is another quality option for Finnish players, who can deposit up to €10,000 and enjoy low deposit fees compared to similar payment methods.

Instant Bank only carries a 3% deposit fee, while this payment method also has no minimum limit. In comparison, Nordea features a minimum deposit limit of €10, which is relatively standard, and a competitive deposit fee of just 2.5%.

Special Deposit Bonuses

You should never write off the possibility of switching to a different payment method, as some online casino sites will reward you with bonus funds for doing exactly that. One such example is Winner Casino, where players can benefit from a 15% deposit bonus just for using Skrill, Ukash, or iDeal. Even wire transfers qualify for that 15% bonus deal.

Tip #3: Check out the payment section of your favourite online casino for special payment bonuses before choosing your payment method.

Recommendations

Casino Cruise has earned a special recommendation, having provided helpful information and inspiration for this special report. The casino's welcome bonus also comes with free spins. Deposits can be made by VISA, MasterCard, Neteller, Skrill, Trustly, iDeal, giropay, Sofort, and EUteller at Casino Cruise.

Summary: To recap, never assume that a payment method will be exempt from high deposit fees. Always check this or else you will risk adding huge sums of money to your payments over time, and often without realising the strain on your bank account.

Mentioned in this article

See also

Winner Casino Now Accepting PayPal

Europa Casino to Offer PugglePay Payment Method

Ladbrokes Deploys new SafeCharge Payment Method

NETeller Payment Method and Casino Connection

EGBA Praises New EU Online Gambling Report


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