The banking function is an important one at online casinos. US online casinos offer fewer options in this regard. Some leading electronic wallets like Neteller decided to move out of the United States when the UIGEA was promulgated. But you need to understand each of the available options, with their advantages and disadvantages so that you can make a considered choice that is in consonance with your needs. Therefore we deal with each option in detail, after providing a brief overview.
Online casinos very rigidly follow their banking rules and conditions. Therefore you have to ensure that your deposits and withdrawal requests are in keeping with the guidelines. Otherwise these may be held up. We will highlight aspects that you particularly need to take care of. But we recommend that you go through the banking pages at the online casino web site before signing up and seek clarifications from the customer support.
Making Deposits at Online casinos
In order to make a deposit at a US online casino, you first need to log in to your real money account. Access the banking section (some online casinos refer to it as the cashier section) and select the Deposit option. There you will find listed all the deposit options offered by the online casino. Click on the one chosen by you. Enter the amount you want to deposit and other information as may be required. When you complete the transaction, the amount will be transferred to your online casino account.
There are two pointers you need to keep in mind. Never make deposits or withdrawals from computers at public places like cyber cafes. Actually, we do not even recommend wagering from devices that are not your own. If you want to claim a deposit bonus then do not forget to enter the promotion code while making the deposit, otherwise you will lose the benefit.
Credit card deposit is the most popular deposit option at US online casinos and Visa credit cards are amongst the most commonly used. They have been used for offline purchase for decades and were the first choice when online casino gambling came into being. Visa operations are under strict regulation and you will find that Visa credit cards are a smooth and secure way of depositing funds at US online casinos. In the United States withdrawing funds to credit cards is a problem and you will have to fall back on the wire transfer or check withdrawal option.
MasterCard in another popular credit card, which has been in use for a long time in the United States. If you are using it for your other offline and online purchases then you should consider using it as your deposit option at US online casinos. It is a secure payment option, so you should not have any worries on that score. US online casinos employ the latest techniques to keep your personal information safe on their servers, and your MasterCard details will not be accessible to the online casino staff. MasterCard credit cards are a deposit only option at US online casinos.
American Express Banking
American Express credit cards are also referred to as Amex at US online casinos. They are not as widely used as Visa or MasterCard credit cards. But if you have Amex and your online casino accepts this option then you should not have any problem. If Amex credit cards are not listed at the online casino web site as a deposit option, you can check with the customer support if it will be accepted. Again, the issue with an Amex credit card is that you will not be able to make withdrawals to it. But this is a problem that you will face with almost all deposit options.
Debit Cards at Online Casinos
Most but not all US online casinos will allow you to make deposits using debit cards from MasterCard and Visa. Debit cards operate in very much the same way as credit cards for making deposits at US online casinos. But there is one essential difference. With credit cards you are playing with borrowed money and will have to pay up at the end of the billing cycle. Some players are uncomfortable with this and prefer debit cards in which the funds are your own and there are no debts to settle later. Like credit cards, debit cards are also a deposit only option.
Cash Transfer Using Western Union or MoneyGram
Western Union and MoneyGram are money transfer agents. Originally, you could deposit cash at any of their outlets and they would deliver the amount to your named recipient at their outlet in his place of residence. Now the process can be done online or even on phone. You give the amount of the deposit, either online or offline, to Western Union or MoneyGram along with your online casino’s bank account details and funds will be directly deposited there. It is an ideal option for US players who have concerns about their credit card details being on the servers of online casinos. This is a deposit only option.
Bitcoin BankingThe most important feature of bitcoin banking is that it is the only credible US online casino banking option that can be used for both deposits and withdrawals. There are other advantages of using bitcoins, and these are discussed in the Bitcoin page. The flip side of bitcoin banking is that it a fairly recent concept and not many players are familiar with it. Also not many US online casinos offer bitcoin banking. But if you are in online casino gambling for the long haul then this is an option you should evaluate. We have a special section on bitcoins and you can start with that.
Making Withdrawals at Online Casinos
The process of withdrawals at US online casinos is similar to making deposits. You log in to your real money account and select the Withdrawal option at the banking section. Choose the relevant withdrawal option, enter the amount you want to withdraw and other information required and follow the instructions on the screen to complete transaction. Your withdrawal request will be processed by the online casino after the pending period is over and funds remitted to you.
At the time of registration US online casinos ask you to submit proofs of identity and address in order to prevent fraudsters from wagering using your name. Though you will be permitted to wager, you will not be allowed to withdraw funds till these documents have been received and verified by the online casino. Therefore make it a point of submitting these documents as soon as you sign up.
Bitcoin – For withdrawals
If you want to withdraw your winnings in bit coins, then there are two steps you need to have taken. You must have selected bitcoin as your currency when signing up at the US online casino. And you must have made the deposit using the bitcoin banking option. For example, if you are playing in US dollars and have deposited using credit cards then you cannot withdraw to your bitcoin wallet. Bitcoin withdrawals are easily the fastest of the withdrawal options at US online casinos. Once the funds are in your bitcoin wallet, you can deposit at other bitcoin casinos or make other online purchases using bitcoins.
Wire Transfers – For withdrawals
Wire transfers is one of the default options for withdrawals at US online casinos for those players who deposit using credit cards, debit cards or cash transfers. The online casino will transfer your requested winnings directly to your bank account. You will have to furnish the required details to your online casino for this. Today most wire transfers are done using the Electronic Funds Transfer route. There may be American online casino players who do not have credit cards or do not want to use them online. But everyone will have a bank account. The advantages and disadvantages of this option are discussed in detail in the Wire Transfers page.
Check – For withdrawals
Check withdrawal is the second default withdrawal option. If you request withdrawals by check, then the online casino will write out a check and post or courier it to the residential address that you have given at the time of signing up. You would then have to deposit the check at your bank and wait for it to clear before you can use the funds. It is by far the slowest of all withdrawal options and is almost obsolete. The only reason why any American would want to use this option, it that he does not want to divulge his bank account details to the online casino.