Online Gambling Banking Methods

Online casino players can choose from a variety of casino payment options which include credit cards, debit cards, e-wallets, prepaid services and conventional methods like checks, wire transfer and bank draft. The choice of the payment method depends on their suitability to the customer in terms of the advantage they offer. But as technology progresses, newer banking solutions are being created for the customer’s use. In recent times, financial service providers are teaming up to combine the existing banking methods and provide the customer with better options that offer greater benefits.

When online casinos began operations, customers used credit cards to make payments. However, there were some reservations about this payment method since some players were uncomfortable with the idea of their personal data being stored at the casino’s servers. To avoid this issue, many online gamers began using e-wallets which was the latest innovation in the industry. Credit cards were being used to fund the e-wallet account so that the details were stored at only one server.  Neteller and PayPal are some examples of e-wallet; there are many more.

Soon, prepaid electronic options made an entry into the online gambling websites. UKash provides prepaid vouchers. With the agreement between Neteller and UKash, Neteller users can fund their e-wallets with UKash vouchers. Prepaid vouchers cannot be used in parts but are to be used in their entirety at one go. So, players find it convenient to fund the Neteller account with say, $100 worth UKash vouchers. Then through Neteller, they can load up say, $50 each in two different casino accounts.

Similarly, UKash vouchers can be used to fund MasterCard accounts. This payment solution is known as MasterCard re Power. In this payment option, players can load their Maestro Prepaid Cards and MasterCard cards at UKash sale locations. UKash vouchers are purchased for cash, so the MasterCard transactions are also in cash.  In these transactions, the banking network is completely done away with, making it a very convenient payment option for those who do not want to use banks for whatever reason.

Another unique payment solution has resulted from the tie up between Neteller and MasterCard, known as Net+Virtual Prepaid MasterCard. This card can be downloaded and used instantaneously; it is not delivered by mail. Each use of this card will generate a unique 16 digit number to be used only once – which is great from security point of view.

Many such combinations of two different payment methods have resulted in excellent solutions where the players benefit and the financial companies benefit from the additional business. Large international e-wallet solution providers combine with the local banking community in different countries to provide some of the best payment solutions for the cash casino. Take for example MoneyBookers who has tied up with local financial providers in Germany, Finland, Netherlands and Poland. This can only mean the best of services for the online customer when it comes to funding the online casino account.