Introduction to online casino banking

Being able to transfer funds to and from the online casino is critical to real money gambling. This is done through the Banking or Cashier section of the online casino and therefore it is important to understand how this functions. First thing, be assured that this function is absolutely safe and secure at the online casinos we recommend. The latest SSL encryption protocols are used during transfer of funds. The payments solutions providers who facilitate this function are reputed, licensed and time tested.

How depositing funds works at online casinos?

In order to wager with real money at online casinos you first have to deposit funds. To do this, you have to open a real money account and select a payment option. There are different types of payment options available, each having its own advantages, so you choose the one that works best for you.

Then you log in at the online casino using your user ID and password and access the Banking section. Within that you go to the Deposit section. There you will find a listing of the deposit options offered by the online casino. You select your chosen option. If you select a different one it will not work. You enter the amount that you want to deposit. You have to make sure that it is between the minimum and maximum prescribed for your chosen option by your online casino. You will find this information in the Banking section or the FAQ section of the web site. After that you follow the instructions that appear on the screen. Each payment option will have slightly differing procedures and some of them will be discussed later in this article. All electronic deposit options, other than wire transfer, are given effect immediately and you can start wagering at the online casino.

How withdrawing funds works at online casinos?

If your selected payment option permits withdrawals then you will have to use that option to withdraw funds. If your selected payment option does not permit withdrawals, then you will receive funds from the online casino through cheque payment.

Withdrawing funds from online casinos works in a very similar manner to making deposits. You log in at the online casino using your user ID and password and access the Banking section. In that you select the Withdrawal option. The screen will display the withdrawal options offered by the online casino. You select your chosen option or cheque payment option, as applicable. You enter the amount that you want to deposit. You have to make sure that it is between the minimum and maximum limit for that option as prescribed by your online casino. You also have to make sure that the amount entered is not more than the balance in your online casino account. The information on the prescribed limits will be given in the Banking section or the FAQ section of the web site. You may also be asked to enter some other information, which will depend on your chosen option. After that you follow the instructions that appear on the screen.

Things to be cautious of when withdrawing from online casinos

Most licensing authorities make it mandatory for online casinos to verify your name, age and residence when you sign up. This is to prevent under-age gambling and impersonation. Hence online casinos ask for copies of documents as proof. However, you are allowed to start wagering even if you have not submitted the documents, but will not be allowed to withdraw unless you do so. Therefore, you should send the copies as soon as possible.

You can withdraw only from your cash balance. If you have availed of bonuses you will also have a bonus balance. That cannot be withdrawn directly. It has to be wagered the required number of times and transferred to the cash balance before it can be withdrawn.

Online casinos take time to process your wagering request. On an average it is about three working days. Once processed, electronic options result in immediate remittance of the amount. Receiving funds through cheque can take a couple of weeks.

Credit card usage for depositing at online casinos

The online casinos we recommend all accept deposits through Visa and MasterCard, which are the most popular credit cards in Australia. If you have chosen this option then you may have to register your credit card with the online casino before you make your first deposit. It enables the online casino to verify that no one is fraudulently using your card and it saves the card details on its server, so that you need not enter the details with every deposit and withdrawal. The online casinos servers are made secure using the latest practices so your sensitive information will be safe.

Online casinos do not levy any charges for deposits or withdrawals through credit cards. However some issuing banks may deem payments to online casinos as cash withdrawals and levy the charges for the same. You need to clear this with the issuing bank before selecting the credit card option.

eWallet banking options for Australians and how they work

eWallets are like online bank checking accounts. You deposit funds in them and can use them to make any online payments. They have some specific advantages as online casino payment options. You can both deposit from and withdraw into eWallets so you eliminate the need to get your winnings through cheque payments. You can make deposits at as many online casinos from your eWallet, so your credit card or bank details are only with the eWallet and not at each and every online casino you wager at. Online casinos prefer the use of this option and give additional bonuses to players depositing using this option. Neteller and Skrill are the most reputed eWallets and are accepted at our recommended online casinos.

You have to first open an account with your selected eWallet. You can do that at the web site of the eWallet. You have to then load the eWallet, using your credit card or through a bank transfer. Loading eWallets through bank transfers is free, whereas a small fee may be levied for loading through credit cards. You are then ready to make deposits at online casinos. You select your eWallet in the Deposit section of the online casino cashier. After you enter the amount you will be taken to the eWallet web site. You have to log in there using your eWallet particulars. You can complete the transaction there and funds will be transferred to your online casino account. There is no fee for this. Withdrawals to your eWallet account can be done in a similar manner.

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