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Why You Should Consider Using a Different Payment Method for Online Slots

Written by:
Payton
Published on:
Apr/26/2021

When most people join online casinos, they expect the payment process to be smooth. They hope for quick deposits, low fees and quick withdrawals. Unfortunately, the banking process at online casinos isn’t always stress-free. 

You can deposit money using your favorite e-wallet only to be disqualified from bonuses. Or you could use bank transfer and have to wait for a week to get your money. If you’ve had these experiences, you probably should look for a better payment method. Here’s why. 

Access to your Favorite Casino 

Online casinos don’t support the same banking options. Some companies allow Visa and MasterCard but decline PayPal and Google Pay. Others only support cryptocurrencies while rejecting all fiat-based payment options. 

In light of that information, you should consider using a different payment method if it means getting access to a great casino. Sure, you’ve been using credit cards to pay for slots throughout your adult life. 

But if a new slot site only accepts e-wallets, you shouldn’t   miss out on its goodies for not owning a PayPal or Google Pay account. The best casinos have a great variety of banking options.  

If you don’t like one e-wallet, you have the choice to use a different one. Google Pay is the newest e-wallet to provide support for online slot sites. You can deposit money using Google Pay at dozens of casinos. But take time to compare multiple Google pay casinos until you find the right one. 

Bonuses and Promotions 

Let’s face it. Everyone likes slot bonuses, especially when they have great terms and conditions. Think of no deposit bonuses with zero wagering requirements. You don’t have to spend your money to claim free spins. And if you use the bonus to win cash, you can withdraw it instantly. 

Of course, not all bonuses have zero playthrough and no deposit requirements. Most casinos demand that you deposit money to get a bonus. Crucially, you must also use a specific payment method. 

Some payment methods—Skrill and Neteller—don’t qualify for bonuses at lots of casinos. If these are your favorite banking options, therefore, you might have to look for an alternative payment provider to get a bonus. 

Sometimes casinos have exclusive bonuses for using certain e-wallets, cryptocurrencies or cards. The rewards are usually time-limited. But if you want to claim one of these bonuses, the best option is to join one of the supported payment options.  

Fees and Limits 

How long should you use a digital wallet that charges you extra when depositing money to casinos? Easy—ditch it for a better payment method immediately. The days when you had to accept higher fees for casino payments are over. 

The best banking providers treat casino payments like all other transactions. If it charges 1% in deposit fees to eCommerce sites, the same rates apply for slot sites. If the transaction takes a couple of minutes, there are no exceptions for gambling businesses. 

That said, the biggest problem people have these days is not about payment discrimination. Instead, the issue stems from low limits, and high fees. For example, some e-wallets have deposit and withdrawal limits of between $50 and $500. 

The minimum limit is high and maximum is small. When dealing with such an e-wallet, you have to settle for the limits or switch to a different provider for better limits. The best providers allow you to send as little as $1 to as much as $100,000. 

Speed 

Payment speed is a vital factor in choosing a payment method for online casinos. You want to deposit money quickly so that you can get access to your favorite games as quickly as possible. When it comes to withdrawals, it’s also essential to get paid quickly. 

Unfortunately, your deposit and withdrawal speed vary depending on two things: your payment method and the casino. Deposits made through e-wallets, crypto and credit cards are often instant. 

However, top-ups made through bank transfers and checks can take a couple of days. The same case applies to withdrawals. If you want fast payouts, choose a digital wallet or cryptocurrency—payouts take a few hours. 

Withdrawals made through credit/debit cards can take between and to three days. If you select wire transfer, you’ll need to wait for up to ten days to get your money. 

Security and Trustworthiness 

Security is an extremely important feature to check in a payment provider. Start by checking for SSL encryption. This is symbolized by a padlock sign on the website address bar. It helps keep your data secure. 

If it’s a new payment company, read reviews about it. All payment providers are regulated. If it’s unregulated, then consider looking for an alternative. Another security feature to check is password protection. 

Ensure you can create a password to secure your account. And for the best results, you need extra tools like Two-Factor Authentication and an anti-phishing code. Data protection is also important. 

Look at a payment company’s data protection policies. What information does it collect from you? Does it ask for consent? Can you withdraw this consent? These are important questions to ask to get an idea of whether a payment method has our interests in mind or not. 

Reliability and Customer Service 

Picture this. You deposit money to a digital wallet with a plan to transfer it to your favorite casino. But just when you want to log into your payment account, the app crashes. You contact the company’s customer service depart only to be ignored. 

It’s frustrating experience many casino players go through. It’s particularly annoying when a payment app is unreliable and their support staff is rude or unhelpful. Fortunately, you don’t have to settle for inconsistent banking apps, these days. 

If you experience a payment difficulty using one e-wallet, you can always switch to a different company. If you have problems with e-wallets in general, you can always use Visa or MasterCard. The bottom line: don’t settle for a poorly managed banking provider when there are so many alternatives. 

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