Online poker sites and online casinos offer players the luxury of playing their favorite games from the comfort of their homes at any time. One obstacle for some potential players is that they are uncertain about performing financial transactions online. Fortunately, encryption software and online security has never been safer. It is easy to play online safely and cash out with the assurance that personal information will remain confidential and secure.
Most international players have no problem adding or withdrawing funds from a game site, but U.S. players are hampered by the Unlawful Internet Gambling Enforcement Act of 2006. The UIGEA prohibits online gambling for US residents. While some banking methods are still available to US citizens, whether or not American players should use them is a decision best left to the individual.
There are many methods by which one may add or withdraw funds from a gaming account. The first, easiest method is with a credit card, though this option is not always available to all players. Another popular option, especially with U.S. players, is the eWallet. These payment sites act as a middleman between the player and the poker site. This allows players to give their financial information to one payment site, and use their account to add and withdraw funds from several different gaming sites. The following is a list of some of the top online banking options used by most online poker and casino sites, along with some information about each.
- Credit cards:
This is the most popular and easiest method for depositing funds into an account, but most sites do not offer withdrawals via this option. There are also limitations for residents of the U.S. and other countries that prohibit online gambling. Usually there are no fees for this method, other than standard interest rates.
- Bank account/wire transfers:
Funds are withdrawn and deposited directly to and from a personal bank account, either by cashier’s check or electronically. This may seem risky to some who prefer not to transmit account numbers on the internet. Fees for electronic transfers may be costly for some. Echecks are another method by which players may deposit funds directly from a bank account to a game account.
- Click2Pay:
One of the more popular international payment methods, Click2Pay offers free sign-up, secure transactions, and is available in 11 different languages. Most online poker and casino sites accept this payment option, and funds are available almost immediately.
- eWalletXpress:
This popular eWallet is available for U.S. players and has low fees in comparison to some of the other payment options. New account holders may deposit only up to $150, but validated accounts can authorize up to $4,500 to be deposited. Funding methods include eChecks, wire transfers, money orders, ACH, and XpressFunds.
- UseMyWallet:
This option is available by invitation only, though it is relatively easy to obtain one. After signing up at a poker site that accepts UseMyWallet, you may request an invite from their site. Cashouts are available for a $30 flat fee. U.S. players may access this option.
- PayPal:
Already a very popular way to send and receive money all over the world, Paypal offers interest-bearing accounts with a free credit card that uses PayPal funds for purchases. Security is very reliable, and rates for deposits and withdrawals are reasonable.
- Neteller:
Adding funds to a Neteller account is free, and withdrawals are available for a low flat fee. Using a bank account or a credit card to add funds makes it easy to get quick access to cash for gaming. Neteller also offers a free prepaid Master Card for use to have instant access to funds. This method is accepted by most gaming sites.
- Moneybookers:
A very popular banking option, Moneybookers accepts funds via bank transfer for free and withdrawals are available for a very low flat fee. Most gaming sites accept this method, and a free credit card is available to use for regular purchases and at thousands of online retailers. Customer service is available in 12 languages around the clock.
- EcoCard:
This online payment method is fast and secure, and is gaining popularity on many of the top gaming sites. Registration is free, and fees are relatively low compared to other methods. iPhone users will be glad to know that an app is available for EcoCard users to manage their account while on the go. Though there are fees for withdrawal, online purchases are free with the available prepaid Master Card.
- ClickandBuy:
This site allows several ways to deposit funds to an account. Fees are very low to add or withdraw funds, with a currency exchange fee of 5.9%. U.S. players may use this service.
Availability of these and other funding options depends on the country where one resides and the gaming site of preference. If one plays on several different sites, it is advisable to use a single banking method accepted by each. Players should research each alternative in order to choose the best, safest, and most economical option available.
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