Debit and Credit Card
The most reputable online casinos are the ones that offer the most popular and trusted payment methods to make deposits and withdrawals. Player confidence is furthered when the world’s biggest financial institutions are willing to offer their financial security to an online casino. Not only do you have the confidence of the security measures of 128-bit encryption that the best online casinos provide to protect your personal information, you also have the backing of your credit and debit card provider in case of a dispute.
Credit Card Deposit
Credit card deposits are one of the best ways to make a deposit at an online casino (maybe the best) for a number of reasons. For one, you often get the cash back points often associated with those cards for making purchases. They also are convenient because it’s virtual money, not money taken directly out of your bank account, so if there is a dispute for any reason (though we highly recommend only playing at casinos without any history of disputes), you can have your credit card provider take care of the charge and open an investigation rather than worrying about them refunding your actual money.
Like with all payment methods, there are a couple of potential downsides to using a credit card to make a deposit. If the casino is licensed in a foreign country, most institutions will charge you a small (1-2%) foreign transaction fee, which is on top of the small percentage (1-2%) that the casino will charge for using a credit card. Because of this, it’s recommended that you deposit as much as you’re planning on playing with when you make your first deposit. I have personally made the mistake of depositing $25, then wanting to bet $50 on a sporting event , so I had to make another deposit and pay the foreign transaction fees a second time (though the casino’s fee will not be effected).
Credit Card Withdrawal
Being able to withdraw from a casino directly onto your credit card isn’t the most common option, but it isn’t by any means uncommon. It is incredibly convenient if you are using a credit card to make a deposit, and the money won can go directly onto your credit card, which is also where the potential downsides come into play. Since it’s onto your credit card, it’s not cash in the bank, so you can only really use it to pay off your credit card. Furthermore, if the amount is higher than what you owe on your credit card, you might be charged a fee. If your winnings are considerable, use a different withdrawal method, like check by mail or through a debit card.
Debit Card Deposit
Making a deposit on a debit card is convenient because the money is taken directly from your account, so you don’t have to worry about paying it back later on. It has the feel of playing at a land-based casino, where you play with what basically amounts to cash. The foreign transaction fees and casino fees of 1-2% each will probably apply, just as they do with the credit cards, but if the casino is not based in a foreign country, and is based in Australia instead, there shouldn’t be any fees, or if there are fees, it will be just from the casino.
Debit Card Withdrawal
Debit card withdrawals are the preferred method to credit cards in our opinion, since it can do the same thing in terms of paying off the credit card, while also being readily available for withdrawal in cash. The idea that you can take your withdrawals and automatically add it to your bank account is an exciting prospect, especially if you hit a particularly lucrative jackpot, as you can win and be significantly richer just a few days later after the withdrawal request is processed.
Ironically, our preferred method of deposit is a credit card, and our preferred method of withdrawal is a debit card. If you have the option to do both, that casino is going above and beyond. If you have to choose, we say it’s up to your personal preference. Weigh the pros and cons, and go with what’s most comfortable.