The best Payment Methods in Online Casinos
Although there are many types of payment methods available today, it is difficult to find one that provides both a high degree of security, as well as flexibility. Below, we present several options that are considered to be secure in the world of online casinos, and that protect your personal data from misuse. Should one or another of these methods of payment not be available to you currently, we do recommend that you apply for that respective method. It will be worth your while and only costs a few mouse clicks. Feel free to contact us if you have any questions or concerns regarding this topic. We will be happy to provide additional assistance.
1. Master Card or Visa Card
The reason to give only a conditional recommendation for the most popular credit cards is this: due to the high spending limits on these cards, there is little cost control. Additionally, the online casino receives all your personal data, and the cards often cannot be used to collect payouts. These big credit card companies do provide protection from abuse or misuse, but you should not let it come to that. The transaction fees you incur are a small price to pay. You will not be able use American Express; the company does not honor transactions with online casinos.
2. Debit cards from various providers
Debit cards are a good alternative to credit cards in terms of providing cost control. You can only spend money that is actually sitting in your account. Debit cards are offered by almost every bank, since they do not pose a great risk. However, most online casinos do not accept debit cards as a method to collect payouts. And, as with credit cards, using a debit card means that all your personal data is transmitted to the online casino. While damages in the event of abuse or misuse would be manageable, there is a way to avoid that situation altogether.
3. E-wallets – Neteller, Skrill, PayPal
A new way of transferring money electronically has developed over the last several years. Companies that provide this service are gaining traction, and enjoy increasing popularity as well as a steady growth in membership. We are talking about electronic money transfer systems, better known as e-wallets. But what is the big advantage to using these? Let’s discuss how a transaction would be handled with your e-wallet.
Once you have opened an account with one of these providers, you can get going immediately. Opening an account requires the submission of your personal data, and a bank account or credit card. All your personal information stays with the e-wallet provider. When you make purchases online, all you have to submit is your e-mail address and PIN. Your personal information does not reach the third party. No name, address, credit card number, or telephone number. Just your e-mail address, which is useless to a third party. When you make a purchase, money is withdrawn from your e-wallet and posted as a debit on your account.
Popular providers accepted at all online casinos are Neteller, Skrill, and, for Germans, also PayPal. The latter also provide opportunity to put in place certain financial limits. However, from our perspective, this is not the deciding factor. If you make frequent purchases on the Internet or play online casinos, we highly recommend this method of payment. The security and personal data protection e-wallets provide are definitely worthwhile.
4. Prepaid Cards Ucash, Paysafe Card
If you would like to remain completely anonymous, you can use a pre-paid card. None of your personal data will be transmitted to the online casino. Prepaid cards are accepted as a method of payment at many casinos. You can buy pre-paid cards at various outlets such as gas stations, kiosks, or online with the respective provider. When you purchase a card, you will receive a code that you enter at the casino. The respective amount of your card will be booked into your player account. Well-known providers of these cards include Ucash or Paysafe. Balances of up to 500 € are available through Ucash, and up to 150 € with Paysafe. However, these cards cannot be used to collect payouts. You will have to use another provider for those.
5. Payment methods recommended by us
As you noticed, there is no perfect method of payment for online casinos. All have distinctive advantages and disadvantages. We feel that e-wallets provide the greatest degree of security and flexibility, and they can also be used to collect payouts. Credit cards can be recommended, but only conditionally so because they do not provide any means of cost control, and you run the risk of personal data misuse when using them frequently. Pre-paid cards present the best payment method, but they cannot be used to collect payouts. Prior to playing, check to see if e-wallets are an acceptable method of payment/payout at the online casino you choose. This will give you a secure option and you can relax and look forward to stress-free play.
This post is also available in: German