Learning all there is to know about depositing and withdrawing money from your online casino account is one of the fundamental keys to being able to experience all of the fun and excitement of a brick-and-mortar casino in your own home. Here is an in-depth guide to the secure casino banking methods available at the best online gambling sites for Australians.
Best online casinos
Is it safe to gamble with real money casinos?
All of the online casinos recommended by BestOnlineCasinos.net.au are completely secure and reputable, ensuring any funds transferred to and from your account will arrive at their destination untouched. The sites we endorse have a high focus on player protection and responsible operator conduct, and exceed the minimum standards set by the internet gaming industry.
What are the most secure online casino banking methods?
There are a multitude of ways that players can transfer funds to and from their accounts and, while they may seem complex at first, most are actually very simple. With so many options, there is guaranteed to be a payment method to suit every player’s needs.
Credit and Debit Card cash deposits
The most popular way to deposit and withdraw money from your casino account is via credit and debit card. While some people may feel unsure about giving away their card details online, strict regulations enforced by all of our recommended casinos ensure your money is safe and that your personal details are protected.
Credit and debit cards are among the easiest ways to deposit funds. Simply enter your details and the amount you would like to transfer, and you will have instant access to the money through your account. With no waiting times, you can start playing all of your favourite real money casino games straight away.
Bank transfers provide an alternate way to fund your casino account
Bank transfers are among the simplest ways to deposit fund into your online account. Unlike credit cards and debit cards, which are often subject to strict transaction limits, they also allow players to deposit and withdraw larger sums of money.
The downside to the bank transfer method is that it can take around three working days before the funds appear in your account. However, some banks offer the option to speed up the transfer process for a small cost. This faster method, known as a direct bank transfer, is supported at most Internet casinos.
Funding your casino account with pre-paid money solutions
If you are looking for a way of depositing funds that does not require handing over your personal financial details, pre-paid credit cards and vouchers are ideal.
One of the most common pre-paid deposit methods is Paysafecard. This system allows people to exchange their money for a unique and secure code which can then be used online, just like a credit card, to top up funds in your betting account.
Paysafecard vouchers can be purchased from participating retail outlets right around the world, and many online casinos accept them as an instant deposit method. However, because each voucher has a different code, they can only be used once.
Another pre-paid payment option accepted by some of our recommended casinos is Entropay. This system gives players an easy and reliable way to deposit and withdraw casino credits through the use of a pre-paid virtual Visa card.
These cards can be replenished with money at places such as service stations, news agencies and various other retail outlets. They can then be used like a standard credit or debit card online, as well as through EFTPOS and ATM withdrawals.
e-Wallets – another popular deposit method
Electronic wallets, otherwise known as e-wallets or Web wallets, provide another way to deposit money into your online casino account without sharing your personal and financial details with the casino.
They generally work through the customer setting up a secure account which can then be used to transfer funds across to from their credit or debit cards. Once this cash is in the e-wallet, it can then be transferred instantly to a casino account.
Common e-wallets used by online gamblers include Neteller, Skrill and ecoPayz.
Neteller: One of the leading e-wallets in the industry, Neteller is a fast and efficient way to transfer money into your online casino account, ensuring all your details are secure so that you can deposit and withdraw funds with the peace of mind that your finances are going to remain safe. Regulated in the UK, Neteller creates a one-time only card information when customers place funds into their e-wallet account which can then be placed into the site to add funds in the same way as a standard credit or debit card.
Skrill: Formerly known as Moneybookers, Skrill was founded in London and is one of the main e-wallets used by online gamblers. Online casinos transfer funds instantaneously into your account when depositing through Skrill, allowing you to start gaming as soon as you like. You can also use this method with many casinos to withdraw your winnings, with the money going into your Skrill account, once again eliminating the need to share your personal details directly with the casino itself.
ecoPayz: ecoCard, as it is also known, works much like the other electronic wallets we recommend. Established in 2000, it was one of the very first secure Web wallets on the market. ecoPays remains one of the most trusted ways to move money online and is widely accepted at AUD casino sites.
Instant online payment options
Our recommended online casinos also give their players the opportunity to fund their accounts through various wire transfer systems, the most popular method being POLi (short for ‘Pay OnLine’).
Open to residents from Australia and New Zealand, POLi is a secure and confidential real-time debit system which deposits the cash into your account straight away. It operates completely within your financial institution’s Internet banking website, meaning that neither the online casino nor POLi have access to any of your personal information.
Another commonly used online payment system is Trustly. It is essentially the same thing as POLi, except it is also used in countries outside of Australia.
Paypal, possibly the most well-known and widely used online cash transfer system on the market, is not accepted by any of our recommended online casinos as the service does not allow Australians to use it for online gambling transactions.
Using bank cheque for deposits and withdrawals
One of the least popular forms of depositing cash into your online casino is with an e-cheque. This is essentially filled in the same way as a standard cheque, which your financial institution will then forward on to the casino. There is a delay with this method, taking a number of business days for the cash to be cleared into your account.
For those players still living in the 20th century, limited online casinos also accept traditional bank cheques as a way of adding funds to your account. This completely eliminates the need to enter any of your bank account or credit card details online.
The downfall to depositing by cheque is that it takes a number of days to actually arrive through the mail. It must then be processed and cleared, which means the money may not be credited to your betting account until several weeks after you posted the cheque.
How to withdraw money from your online casino account
With a bit of luck, you will have the opportunity to withdraw funds quite often. Most real money casinos prefer to make payments via bank transfer or EFT, but other methods are also available.
Operators have worked hard to speed up processing times for casino withdrawals in recent years. It used to take at least 48 hours for a player to receive their winnings, but several leading casino sites now offer same-day payments.
Many, but not all, of the deposit options listed above are also accepted for cashing out. Prepaid cash solutions such as Paysafecard are incompatible with withdrawals, for instance, as the payment codes expire after use and cannot be topped up.
To make things simpler, many players withdraw winnings by using the same payment option which they used to deposit. This is not a golden rule, however, and it is really up to the individual and what works best for them.