If you were to embark on some research before choosing an online casino, most people would look for factors like game choice, bonuses, licensing, trusted brands etc. But if you read detailed reviews of casinos, you might notice that special attention is always given to the choice of payment methods. It’s a complex issue that goes beyond “credit cards accepted”. The choice of payment methods and the casino’s policies and practices on depositing and withdrawing are crucial elements to your overall enjoyment.
We don’t make that last statement lightly; if you were to look at casino player forums, the most common grievance is not about the games or platform, but about issues surrounding withdrawals. Now, there is no problem with depositing and withdrawing at a fully licensed casino in Canada, but you want to be clear as to how the policies are carried out by the casino. Below we will take you through some of the factors, explaining why they are important and what you should and shouldn’t accept from the casino:
Payment Method Choice
Every top casino will offer the option of using eWallets, most likely PayPal, Skrill and/or Neteller. These are secure, and they usually provide the fastest means of withdrawing winnings. If a casino does not offer eWallet options, you should really be questioning why. Credit and debit cards are, of course, widely available, although some countries have banned the use of the former. Some players like the anonymity and security of vouchers like Paysafecard, and it has become hugely popular. Pay By Mobile – where you add a deposit to your phone bill – is also an option. It’s important that the casino offers you a choice, however, so you can choose the method that most suits you.
Casino Payment Security
Online casinos – again, we stress, licensed sites – are among the most secure platforms online. Casinos have been around for 25 years or so, and there has yet to be a major, news-worthy hack. Operators don’t use Oceans-11-like money vaults to secure your transactions; instead, they install simple but effective measures like TLS encryption to ensure your transactions are protected.
Withdrawal Times
In most cases, the online casino will take some time to process a withdrawal. Often that could take up to 48 hours, especially for large wins. While some might grumble about that, it’s common practice, and your money will arrive eventually. Once the withdrawal is processed, then your money should arrive almost instantly if using eWallets. If it’s a debit card, it could take several days; that’s not the casino’s fault, but the cumbersome way banks process payments.
Withdrawal Policy
Not everyone will play with the same stakes at a casino, so it’s worth reading about the details of how casinos manage their withdrawal policies. A minimum withdrawal amount of perhaps $10-$20 is an acceptable figure. Be wary of casinos who put the minimum amount you can withdraw at a high threshold, say, $100. At the other end of the scale, some casinos will cap the maximum you can withdraw daily or monthly, perhaps at $30,000. For most of us, that will never be a problem. But if you are a high roller, make sure the casino meets your requirements.
Miscellaneous
It’s up to each individual, but we would recommend that you never play at a casino that charges transaction fees for deposits and withdrawals. Most don’t, but some do, and it’s surprising that they remain in business. Furthermore, make sure that your payment method is eligible for casino bonuses, as sometimes options like Skrill and Neteller are exempt. Finally, remember that the best casinos will allow you to manage your payment methods to ensure that you don’t overspend. This includes deposit limits, curfews (of when you can spend), and time out features. They are handy tools if you do not wish to exceed your budget.