How to Choose the Best Banking Method?
If you want to play online casino games for real money, you must first join a casino, then you must select a banking method so you can deposit money into and withdraw money from your casino account. Fortunately, Slots Play Casinos is here with information and advice on how to choose the best banking method for your individual online gambling needs.
Use an SPC-Approved Casino
This is a first and most important step. Before a casino can be listed in Slots Play Casinos, it must be vetted in a number of areas. It must have high-quality games, high-quality bonuses, high-quality support, and so on and so forth, and it must have high-quality banking options.
This means that every single banking option in every single casino listed in Slots Play Casinos has been thoroughly investigated by our experts and has been found to be of the highest caliber in terms of security, confidentiality, transparency, convenience, and ease of use. So if you gamble in an SPC-approved casino, you can trust all of the banking methods it offers. That is comforting to know.
Understand the Different Types of Online Banking Methods
The key factor in how to choose the best banking method is to thoroughly understand the options available. That means familiarizing yourself with the different types of online banking methods, with their terminologies, and with how they operate. It is only with this knowledge that you will be able to make a wise and informed decision. So here are the main categories of online banking options you should know about:
- Credit cards and debit cards
It is safe to assume that everybody is familiar with credit cards and debit cards. We use them all the time for both online e-commerce and land-based regular commerce. Examples include Visa, MasterCard, and American Express.
An e-wallet provides an anonymous buffer zone between your financial institution and your casino. You can transfer money from your bank or your credit card to your e-wallet, and then from your e-wallet to your casino account. Your financial institution does not need to know where you are spending your money, and your casino does not need to know where your money is kept. Examples include Neteller and Skrill Moneybookers.
- Voucher cards
You don’t even need a bank account or credit card. You can buy a voucher card, pre-loaded with a specified amount of money, at a local kiosk or convenience store. Each card has a unique numerical code printed on it, so you can go to your online casino site and enter the code to transfer money from your voucher card to your casino account. When the voucher card is used up, you can refill it or buy a new one. Examples include PaySafeCard and Payz.
- Wire transfer
This method eliminates all middle-men. You set up a direct electronic connection between your regular bank account and your casino account and, at the touch of a button, you can beam your money from one to the other.
There are now many alternative currencies in circulation collectively called cryptocurrencies which, for obvious reasons is often shortened to crypto. Bitcoin is the cryptocurrency best known of them all. Many online casinos now accept deposits and can make withdrawals in cryptocurrencies. Every casino that allows banking in one or more of the cryptocurrencies will have a section on how to use cryptocurrencies at that specific casino. From the practical standpoint, bitcoin and the other cryptocurrencies afford gamers the most privacy in online casino banking.
There are four cryptos that you’ll find at most of our partner casinos. We’ve got Bitcoin, Bitcoin Cash, Bitcoin Lightning and Litecoin.
Here at Slots Play Casinos, we feel that using a cryptocurrency for online casino banking is a great, new way to bank. We also know that many gamers are still leery of using a cryptocurrency for any financial transaction. We would like to encourage gamers who are looking for fast, convenient, and private online casino banking to try to use one of the available cryptos. The first time you make a transaction in a cryptocurrency, the technical side might be a bit frustrating but we encourage you to stick with it. The second time is a lot easier than the first time and from then on banking with a cryptocurrency is an excellent banking method!
Factors to Consider When Choosing Your Banking Method
Just about every decision in life involves tradeoffs, and choosing an online banking method is no exception. Option A might be better in one respect, but Option B better in something else. The goal is to take all the relevant factors into consideration and then make a rational informed decision. So examine carefully each of the various companies offering online banking services at your online casino and ask yourself these relevant questions about each one:
- Is it a reputable well-known company? (If the casino is listed on Slots Play Casinos, you can rest assured that it does business only with reputable well-known banking companies.)
- Does the company operate in your currency? It is not only a matter of convenience, it is also a matter of saving on currency conversion fees.
- Does the company do both deposits and withdrawals? It is not crucial, but it is certainly more convenient than doing your deposits through one company and your withdrawals through another.
- Is there a convenient location? If you are considering a banking method that requires you to physically purchase a voucher at a kiosk, make sure there is one nearby your home or workplace and that you know how to get there.
- Are there fees involved? Some banking options charge fees for withdrawals. Make sure you know what they are in advance, then you can decide if it is worth it.
- What about Bitcoin? Some consider it the wave of the future, others say it’s just a fad. Do your homework, learn all you can, and decide for yourself.
As you can see, there is no one particular banking method that can be proclaimed THE BEST. Rather, it is a matter of examining your priorities, of deciding which factors are most important to you as an individual, of weighing the pros and cons of each available banking method, and finally of making an intelligent and well-thought-out decision as to which banking method is best for you. After that comes the fun and excitement of real-money online casino gambling. Good luck, and have fun!