Casino banking is a complicated topic with an increasing number of payment methods available. It is crucial that gamblers know everything about how to fund their casino accounts and how the general process works. This is why this guide reveals everything that a novice bettor needs to know to make the most of the banking system, whilst avoiding any potential problems.
Normally, it is unnecessary to offer any supporting documentation for deposits. Casinos prefer to conduct the required checks at a later stage in order to encourage players to join them in their casinos. The withdrawal stage is where they ask for documentation confirming both personal and financial details. It is standard practice across all casinos, and is also a part of the law.
Passport or photo driving licences are the usual pieces of documentation accepted. Scan or copy this before emailing or faxing it to the casino. It must be in date and it must appear clearly on the documentation submitted. To confirm the address of the gambler the casino requests a piece of ‘official correspondence.’ In English, this is either a utility bill or a bank statement. Do not worry; any personal financial details can be blanked out. It is just necessary to display both the name and the address. Most casinos demand the piece be no older than three to six months.
It usually only takes about 24 hours to gain a confirmation of identity from the casino, although holidays can extend this amount of time.
Debit and Credit Cards
By far, the most popular method of depositing and withdrawing are the credit and debit cards. Every online casino accepts both Visa and MasterCard, so it is always wise to acquire one of these cards if deciding to expand a gambling portfolio. Any winnings withdrawn go direct into the bank account.
Casinos do not store any of this financial information and use security encryption technology to ensure nobody can gain access to any sensitive data. All transactions go through immediately to reduce the risk heaped on the gambler. Transaction charges on cards generally do not exist.
Most casinos accept this system as it is the most popular web wallet. In this case, registered users of Neteller use it as the middleman to make instant transactions between the casino and the wallet. This method includes the same security measures as debit and credit cards, but transferring any money to a bank account takes between three and five working days when it comes to using Neteller.
PayPal is a favourite amongst UK players. The majority of global casinos readily accept PayPal as a method of choice due to its prominent position as being the main transaction vehicle for eBay. All UK casinos currently use PayPal as a funding option. It is also a web wallet known primarily for its fervent stance on fraud protection, which makes it one of the safest payment methods around.
Moneybookers has been authorised by the Financial Services Authority (FSA) in the UK, and this has subsequently made it a prominent payment method. Admittedly, it isn’t as popular as PayPal and Neteller, but a great number of casinos still offer this as a viable payment method.
Currently, uKash is available in 33 countries and acts as an alternative to bankcards. It is known for having no processing fees and its ability to send out cheques to companies and clients. This is not an ideal way of transferring money, but it is also the most secure way available and the service is extremely fast. Unfortunately, there are few smaller casinos readily willing to accept the use of uKash on its sites.