Online casino banking is a separate aspect of online gambling that should be paid attention to, explored, and evaluated.
Many casino players, especially beginner-level ones, are wondering what to pay attention to when it comes to payments, and why, despite the fact that they choose their preferred payment methods and never violate the payment limits, they sometimes face problems with casino banking.
This short article highlights five non-obvious recommendations about online casino banking that will make a gambler’s life easier.
Why Is Online Banking So Important?
Online casino banking can be tricky and hard to understand because one cannot evaluate whether the rules are fair and adequate without experience and comparing these rules with the rules of another dozen casino sites. Few players do that, and only very experienced gamblers really pay attention and spend their time exploring the payment rules.
Even the best payout casino sites may have complicated rules which, if violated, will lead to loss of winnings or issues with the casino account.
Double-checking casino rules and considering the next five recommendations will educate the gambler and help them assess whether the casino applies fair conditions to funds and payments.
Choosing The Right Deposit Method
A deposit method is not just a payment method the player already has convenient access to. The deposit method should also be chosen according to:
- minimum and maximum transaction limits – separately by site and separately by the payment system
- minimum deposit qualifying for a bonus
- whether depositing via this method allows the player to claim bonuses at all
- whether the player is able to withdraw their winnings to the same method later
As you can guess from the list, all casinos allow only specific deposit sums for bonuses, don’t allow bonuses on deposits made via certain systems, and may only send payouts to the same payment methods used for making a deposit.
Look Out For Default Currency Rule
The default currency rule means that, while the casino may state it accepts many different currencies for deposit and withdrawal, in fact, may do all the “internal” calculations, such as bonuses and bets, in its own fixed currency.
Despite the fact that the player prefers to deposit in their local currency, or another international currency of their own preference, the casino website will automatically convert the deposits into its default currency, to enable the player to get bonuses and make bets.
After the player wins some real money at an online casino and wants to request a withdrawal, the casino site will again convert the winnings from default currency into the player’s preferred currency. This way, the player will lose money due to fees, currency conversion, and will have problems tracking their casino balance.
Consider Withdrawal Rules
Before ordering a withdrawal of the winnings, the player has to make sure they have followed all the rules, otherwise, their withdrawal will be postponed, or impossible:
- account has been verified by the casino team
- maximum bet limit with active bonus followed
- only allowed games were played with an active bonus
- all wagering requirements have been met
- no software was used to fool the system
- no bonus is active when placing a withdrawal request
These are simple rules but if one violates them, the casino will postpone the withdrawal until they double-check all the player’s activities and patterns, and make sure they can pay the money out – or not.
Consider Withdrawal Limits
When placing a cash-out request, withdrawal limits should be taken into consideration:
- minimum withdrawal available
- daily/weekly/monthly maximum withdrawal limits
- transaction limits for a particular banking method chosen
- limits for No Deposit bonuses or Free Spins (usually no more than $25 – $100 can be withdrawn)
- limits for deposit-based bonuses (usually up to $10,000 per month can be withdrawn)
Some high-roller players or VIP players may have more flexible withdrawal limits and can cash the winnings out faster, or more often.
If the player requests a lower or bigger than the allowed cashout, the money will not be taken away, but the cashout will be postponed until the casino team makes things clear. If no rules were violated, the player will be able to request a withdrawal later.
Choose the Right Withdrawal Method
And eventually, a really tricky rule that only experienced online casino gamblers can slowly grow aware of. Some online casinos don’t explain that on purpose and the result is that players can lose their money.
Some sites do allow making deposits via one method and then ordering withdrawals via other methods. However, many sites actually state in their T&C that withdrawals are only possible to payment methods previously used for making deposits.
In some cases, the casino sends the same amount of money from the winnings that was deposited before, and the rest of the winnings are sent to another payment method, chosen either by the player or by the casino.
However, some sites use this situation to their benefit and create all kinds of complications for the customer, refusing to send money to another banking method, if, for example, the method used for depositing cannot accept transactions from online merchants due to the nature of the system (like a one-time prepaid voucher for online payments).
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