Casino Deposit/Withdrawal Method Overview

The wide variety of payment options on offer at live online casinos can be overwhelming, and there aren’t any hard and fast rules when it comes to which to choose. The most appropriate option will differ from person to person.

When making a deposit you’re well advised to think ahead to your preferences for withdrawal too, as this will certainly affect the method you end up choosing.

However knowledge is power. So, here’s a handy guide to the popular methods and why you might want to opt for, or stay away from some of them.

If we have missed a payment method that you use and are happy with, get in touch. We are more than happy to take a look and will consider adding it to the guide.

Timescales for payment do vary a great deal from casino to casino and between financial providers. There are two major factors that can hold things up: the time the casino takes to process monies and the bank’s own processing time (the latter having a greater level of standardisation).

LeoVegas for example, process transactions seven days a week, but while e-wallets only take up to 24 hours, with a land based bank or credit card provider the wait time is as long as between two and five days. It’s especially long if there are bank holidays during that time, which can delay things further.

When it comes to the first deposit it’s a little easier, as internet bank transfers are usually processed in real time (almost instantly. However,you’ll also need to prove your identity via a series of anti money laundering checks before beginning betting, so don’t expect to be up and running instantly.

If getting your money fast is a priority, do check the paytables (found in either the frequently asked questions section or the terms and conditions) before you make your first deposit.

Did you know that some payment methods incur charges, while others don’t? Funding a Skrill or Neteller account using plastic will cost you 1 to 2%, and 1 to 2% for withdrawals, making a linked bank account a preferable option.

The cost of credit methods increase greatly, too, if you pay interest to the card provider on any credit payments.

Internationally, cross currency transaction can be a fiend for extra charges relating to conversion rates, particularly when using plastic or BACS transfers, and Western Union wires are often the priciest method. Some casinos charge up to 2% for card withdrawals, too.

Royal Panda’s withdrawals are all free and unlimited, but LeoVegas start charging 3 EUR per transaction once you’ve had three withdrawals from any method in the month. The caveat to this is they’ll waver these fees if you use Trustly, Mastercard, Visa or are a VIP customer.

We don’t think it’s reasonable for a casino to charge fees when depositing though.

If you have a favourite payment method, such as the ubiquitous PayPal or rapidly rising bitcoin, be aware that you may not be able to use it in your favourite live dealer casino.

PayPal accepting live casinos are hard to come by in general even more so outside of UK and Germany.

We see a lot of variance in who takes what, especially when it comes to e-payment and pre-pay formats, so don’t rush to set up an account with a particular provider till you’ve checked the rules for both deposits and withdrawals.

If in doubt, stick to Mastercard, Visa, BACS, Skrill and Neteller.

Bitcoin has become quite a popular solution as of late though. We’ve seen a big spike in the number of casino sites that take this payment option for both deposits and withdrawals.

For Bitcoin and any other crypto coins there is no better place than BetWinner.

For those looking for local bank transfers, the #1 live casino in India is without a doubt BetRally.