How to Choose the Safest Online Casino Payment Method
A decade ago, when the online casino industry started growing at unforeseen rates, there were limited payment options.
15:00 21 January 2021
The major sites available then also limited the currencies allowed, with only three to four options for everyone, regardless of residence. Lots of users were either inconvenienced or entirely locked out since these methods were expensive, out of their reach, or both. That was until technology came to the rescue. New and unconventional payment methods are now the new normal for gamers.
Even with all the casinos in NZ and other parts of the world, players still find it hard to get all the information they need when getting started. We went through this review of the best Paysafe casino NZ that thoroughly explained what to look for in an online PaySafe casino to avoid being duped. Although lots of newbie players seem to have a problem finding out the payment option that best suits them – as was made clear by comments on some articles – we recommend that players follow sites dedicated to reviewing casinos.
Here are things you should look out for when selecting a payment method for your gambling account.
Ease of Use
A good payment method should be easy to use since you don’t want to spend hours on one task. The faster you can load up your account, the sooner you get to work and start making your money from a gamble. Most internet options are way easier to use as they allow mobile access, and so you can deposit or withdraw cash on the go. This feature alone has made them quite popular with younger users that spend most of their time on their phones. They also leave a trail that helps you reconcile your account easily when the need arises.
Personal Information Required
When you engage in online gambling, you may want to keep some of your activities private for your personal reasons. You want a payment option that makes this easy, and so your best option is mostly one of the eWallets available on the market. Credit and debit cards require lots of personal information when acquiring them, and they also ask you to provide some information before transactions are processed. This exposure may feel like a little too much for some users since if this information falls on the wrong hands it may lead to fraud and money loss. The better payment option here is one that doesn’t expose you to fraud too much.
Is it Accepted in your Country?
PayPal limits residents of some countries from accessing its platform. Other online payment options do this too, so you want to know how your country is rated before selecting a plan. You do not have to worry too much as there are way too many options available these days. If your country is locked out of one, there will always be another you can use. Even better is the penetration of cryptocurrency that allows use in all parts of the world. As long as your casino of choice allows it for deposits and/or withdrawal, then you are free to use it regardless of your location.
Apart from being accepted in your country, the method should also be allowed at the casino. Where that is not the case, you cannot use it however convenient or safe. That can also help you narrow down on the casinos to work with because variety is always good.
Can it be used for Deposits and Withdrawals?
Most casinos advise users to have just one or two payment options to minimize cases of fraud. When you use the same account to deposit cash and withdraw it, a casino is sure the cash is in safe hands. If you choose one method for each, then it would best suit you to stick to those for easy management of the account.
Time Taken for Approvals
Some methods take longer than others to approve and release a payment, which is one of the things you may want to look out for when selecting the best. Bank transfers that are usually reserved for large sums of money may take up to six – or even more – working days to approve since more than one entity is involved. Approval time also affects how long it takes for you to finally get your cash.
While at this, you want to look at charges since some can be a little too steep. Most online payment methods have minimal charges for processing cash, while crypto is free as long as you have your eWallet. If the method is safe and charges little to no fees, you should consider it over those charging too much to convert your cash to the accepted currency.
Before selecting a withdrawal or deposit method for your account, you want to read widely about all the available options. It helps to look at sites first to see the options they have so you know whether they work for you or not. Security, charges, convenience, and ease of use are some of the things to look out for any time. The gambling industry has expanded to allow cryptocurrency too, so it helps to know you have more options if you want to avoid the conventional banking industry.