Online Casino Banking Options

Due to changes in banking legislation in the United States over the past few years it has become increasingly difficult for people who gamble online to make deposits into their online casino accounts via Visa and MasterCard. When you make a purchase with your credit card it is tagged with a four digit code which identifies the type of merchant that is attempting to process your transaction. All merchants that are deemed to have involvement with online gambling activity are assigned the four digit number "7995" when the transaction goes out. Depending on the bank but for the most part any transactions that are coming from a "7995" merchant are rejected by the issuing bank.

This caused a big issue for the gaming industry as it makes it very difficult for players to deposit money into their account. PayPal was the first real alternative banking option used by online casinos to help players fund their online casino accounts. PayPal worked well for a couple of years up until recently when it was purchased by eBay which in turn changed their terms and conditions to disallow online gambling related transaction within the PayPal system. As you can see the hurdles when it comes to payment processing as an operator are quite annoying.

Lucky for the thriving online gaming industry more and more options are coming about to take the place of credit cards and once popular alternative banking options like PayPal. Below are some of the most popular alternative online casino banking options used by online casinos and players alike. I highly recommend opening up an account with any of the following in order to manage your deposits and withdrawals to and from the online casinos you play at.

Benefits to creating an account with the alternative casino banking providers below is that a lot of online casinos these days offer additional bonuses on top of their welcome bonus or other bonuses as an incentive for using NETeller, Click2Pay and the others.

NETeller - NETeller is currently the largest online banking solution for the online gaming industry. NETeller acts as an intermediary eCash account between yourself and an online casino. This means no more credit card declines when you attempt to play at your favorite casino. Funding your NETeller account is simple and can be done various ways including credit card deposits into you account with them, direct debits from your bank account, wire transfers and checks. Making withdrawals from your NETeller account is equally as easy with various options as well including checks which can be send to you via FedEx or regular mail and direct deposit back into your bank account. In 2003 NETeller processed over $1.5 billion dollars in transactions and currently they have over 1.5 million members. I highly recommend NETeller as a payment solution as they have the highest level of integrity and definitely are the largest banking solution for online casinos and other online gambling sites.

Click2Pay - This banking option is one of the newer banking options available, however they are second best in my opinion. Click2Pay is an alternative banking option that is available to users from all over the globe. This banking solution is very similar to NETeller in that it acts as a intermediary between yourself and the casino you play at. Funding your Click2Pay account is fast and easy and can be accomplished through various methods including credit card purchases to fund your Click2Pay account, direct bank account debit, wire transfers and more... After funding your Click2Pay account you can then proceed to transfer money from your Click2Pay account into your casino account. When you want to cash out of the casino you're playing at go to the cashier and select Click2Pay as your withdrawal option the funds will then be transferred to your Click2Pay account at which point you'll have various options as to how you can withdrawal the funds to your physical bank account.

FirePay - FirePay is a banking option that currently only available to those who hold a U.S. bank account or personal check. With FirePay you no longer have to worry about credit card rejections or wait for checks to clear. Depositing funds into your FirePay account if fast and easy and you'll receive an e-mail confirmation each time you make a deposit into your account. They have audit functionality built right into their online system that allows you to view all your account activity. I do recommend FirePay but not over NETeller or Click2Pay which have proven themselves time and time again as being the #1 online casino banking options.

Wire Transfer - Transferring funds into your online casino bank account is practical if you plan on transferring large sums of money to your account. This option I would recommend to players who gamble online regularly and want to make deposits into the casino in sums of $5,000.00 or more. The reason being that with NETeller, Click2Pay and FirePay there are restrictions with regards to the increments of funds in an allotted time frame that can be deposited via these systems. There are absolutely no limits to how much you can transfer via Wire Transfers. There is a slight downside to sending Wire Transfers to casinos in that it might cost you $30 - $50 depending on your bank. But if you look into it often times the online casinos will cover this expense for your or compensate you for it.

ACH Direct Transfer - Just like Wire Transfers this banking option is convenient for people who want to make larger deposits into their online casino account. However unlike Wire Transfers there may be some limits to how much can be transferred via ACH in a certain amount of time. If you choose to use this option I would suggest that you look over the casino banking options to see what the maximum amounts for transfer are through this method.

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