There is a great competition among online casinos in the market. These websites consistently battle with each other with their latest offerings. This starts from bonuses and promos up to performance. However, the first thing that players usually check is the available payment methods.
The Importance of Choosing the Right Payment Method
First and foremost, identifying your funding source ultimately decides if there will be funds to play on. Next is the safety and security of your personal and financial information. Any player can always choose a payment option that is legitimate and free from theft or fraud.
Another reason is the accessibility and convenience of the payment. So, a player does not have to go through a lengthy process just to link their payment method to their account. That’s definitley a minus point. Lastly, the bonuses and incentives you can gain is another vital consideration.
Now we know that choosing the best payment method is not an easy feat. It would require a good amount of research and understanding on how things truly work. In this article, we’ll learn about the criteria to look for in choosing the best payment method and the top secure payment options for Australian online casinos.
Criteria When Choosing The Best Payment Method
Being critical with your chosen payment options is a must nowadays. There are a lot of cases of fraud and identity theft happening almost everyday. With a simple online transaction, a third party can easily steal your personal data. Thus, being picky with your target casinos is okay. Here are some of the factors you can check out.
Legitimacy & Reputation
The best choice for payment has long years of service and a good reputation. These tried and tested payment services established rapport and trust in its customers. Add to that, they were able to surpass issues and controversies and continued to provide outstanding service to its customers. Being licensed, regulated, and audited by renowned financial entities, it ensures the safety and security of its clientele.
Safety & Security
The most important consideration is online payment security. Those considered as the best payment services always have top-notch cyber security features. The level of their data encryption is certainly the best in the market. A trustworthy payment service has a secured payment gateway and has consistent PCI compliance. Together with other cutting edge technologies, these companies will never fail you in protecting your information.
This is one of the most common issues in various online casinos. Deposit and withdrawal time usually vary in every service. Aside from that, both online casinos and payment services have their own processing speed.
So when a player tries to deposit a certain amount, players must expect that the total payment processing times will cover both the service and online casino. Some payment options offer instant deposit and cashout, while some take days to credit the funds.
Hidden Charges or Minimal Service Fees
Another thing to check is the service fees for each payment option. Depending on their affiliation and partnership, some can offer zero to high fees. So, it is critical for you to always read the terms and conditions. Based on what service you prefer, online casinos’ deposit and withdrawal fees vary as well.
Promotions & Bonuses
As mentioned, casinos also offer deals and partnerships with various payment services. Sometimes they offer players unique bonuses that gives an opportunity for players to maximize their funds and save for future plays. This can be in the form of:
- lower fees
- free bets
One thing that distinguishes a remarkable payment service from the rest is customer service. Most top-notch payment methods offer different means of customer support to its consumers.
- Chat Support: A 24/7 live chat support will surely make a difference since issues with payment transactions require instant reporting and action. This is especially helpful for those who are in the middle of depositing money prior to playing.
- Phone Support: A phone hotline can address immediate issues that can be way beyond the capabilities of a live chat support.
- Email Support: This type of assistance is preferably for non-urgent issues. Although it may take some time for customers to get a response.
- FAQ Section: Customers need comprehensive FAQs that they can access anytime. This section can be a good source of information for simple queries.
As we live in the digital age, many are very reliant on their mobile phones. Indeed, you can virtually do almost anything as long as you have access to the Internet. Almost all payment services now have digital applications that you can download. This provides the unmatched accessibility of these payment options.
More than a decade ago, online banking and e-wallets are still on their developmental stages. Fast forward to the present, almost everyone conducts payment transactions using their phone. It actually changed the way we approach banking and payments in general. Payment options that include mobile payments is a big plus for online casinos.
Alternative Payment Options
Understandably, you already have your own preferred casino payment method. Despite having selected one, you must always have a back-up option in case of unforeseen circumstances. Limiting yourself to only one choice may jeopardize your fundings.
There could be instances when a specific service is unavailable or down. So, if your funds already dropped to zero, it can prevent you from playing. Therefore, reserve options should be a part of your gaming strategy. This is where you can make use of other payment methods.
Top Secure Payment Methods in Australian Online Casinos
To ensure a hassle-free and safe casino experience, you need to select a safe, convenient, and reliable payment method. Good thing for Australians, they have a lot of these to choose from. Aside from the usual modes of payments, there are also new and alternative ones entering the market.
Credit and debit card
These are, by far, the most popular payment method not only in casinos but for majority of purchases around the world. Here are some of its pros and cons:
Card payments are widely accepted and proved to be quick and reliable time and time again. Some players still choose this payment method for the familiarity and ease of use that it offers.
Like other payment channels, there is a downside. You need to enter your credit or debit card’s details every time you make an online payment or purchase. Sometimes, these details are kept in your browser, presenting a safety risk. Hackers can obtain access to these and steal your information.
Other Payment Methods
These payment services make use of a third party entity in each transaction. It works by receiving money from your credit card or bank. Then, an amount will be transferred to your online casino. The good thing here is your personal details will not be shared to the online casino itself.
Familiar names that are included in these types of payments are:
- UPay Card
- Western Union
- Google Pay
- Apple Pay
You can use all these methods in funding and retrieving your winnings from Australian online casinos.
The idea behind using a digital wallet or prepaid card is for you not to spend more than the money that you put in. In a way, this is good bankroll management and is a step towards responsible gambling. Due to this, the risk of you losing all your money is minimized. Third party services are also more convenient and cheaper than your traditional banking.
This is a newer form of payment that is gaining more traction lately. More and more players are making cryptos their default form of payment for online casinos. Let’s find out the reasons why.
- Makes use of encryption technology: This makes it a lot safer than the regular payment channels.
- Utilizes the blockchain technology and decentralized ledgers: This makes it difficult for cybercriminals to hack and steal your personal information.
- There is no third-party service: You alone have access to your personal and financial information.
- Instant payment transactions: Unlike traditional methods which take several days to a week to process transactions, it only take minutes or even seconds with crypto.
- Players remain anonymous: You do not need to enter details such as your name, address, card number, etc. This helps to make your gambling history private and away from prying eyes.
- Lesser payment fees compared to its counterparts: The funds don’t need to pass through a third-party service.
- They do not have regulation: Some crypto casinos even offer big casino bonuses to players who will transact using this method.
The downside of cryptocurrency is its fluctuating and volatile value. For now, it may have a high value. But next thing you know is that the coin crashes. This causes uncertainty for some players. Also, since cryptos are not regulated by financial institutions, players have no protection when it comes to fraud.
Another type of payment method gaining popularity is Pay By Phone. Here’s why some players love it and why some don’t use it:
Players love it because they can simply send an SMS request to the online casino. After that, you can already top up your casino account. You can pay it later via your phone bill. There is no hassle of entering long card numbers and details. It certainly saves you time, and most of all, effort.
This method is only ideal for small transactions. There’s usually a limit on how much you can deposit using this method. Also, you can’t process withdrawal via Pay By Phone. So you should be ready and have an alternative method for withdrawing your winnings.
Direct Bank Transfer
This method is probably one of the oldest types of payment methods. Below are the reasons why players prefer this method and why some choose not to:
Direct bank transfers makes you transfer money from your bank to your online casino wallet and vice versa. Bank transfers are relatively safe. It’s an old school kind of thing but it works.
Players still use this type of method as it allows higher payment limits compared to other methods. There is actually no limit as to how much you can deposit. Therefore, this is a good option for high-stakes players who usually deposit big amounts of money.
One downside is that bank transfers may take a while to process. It will depend on the type of bank transfer you use. Some types take a few days before your funds are reflected in your online casino wallet.
Top casinos with the great payment methods
After doing extensive casino reviews at wheregamble.com, we have carefully selected three casinos that have a wide range of payment options. You can check out Bitvegas.io Casino, Jeetcity Casino, and Wild Tornado Casino for your next casino run.
We can say that this casino mainly focuses on Bitcoin and other cryptocurrencies as its payment option. As we have discussed above, cryptocurrencies offer players with security, convenience, and fast processing speeds.
The cryptocurrencies accepted for payment transactions include:
However, if you’re not a fan of cryptocurrency, that’s okay. You can still play at this casino since it also offers the traditional fiat and other types of payment methods. Players can make deposits through the other channels such as:
- prepaid cards
- bank cards
The minimum deposit and withdrawal amount is 32.75 AUD. Withdrawals via cryptos are processed immediately. Using traditional fiat methods need you to undergo Know Your Customer (KYC) procedures and ID verification in Australian online casinos.
This casino is another safe and legal gambling site in Australia. It is operated by Dama N.V. and has a licence with Antillephone N.V. The Curacao government approved its registration. Dama N.V. is also home to other popular brands like Woo Casino, CasinoChan, and BetHeat. It has around 6000 games for players that await players.
You can make transactions via the following payment options:
- credit card
- debit card
Wild Tornado Casino
As another casino under Dama N.V., Wild Tornado has a collection of around 6000 games coming from top gaming software developers.
This casino accepts popular payment services like:
- credit card
- debit card
- bank transfer
Another plus factor is that it accepts a multitude of currencies. The minimum deposit is 20 AUD. Meanwhile, the minimum withdrawal is 100 AUD. However, your chosen payment method will affect the amount of minimum withdrawal.
A Game Changer
To sum up, you now have the awareness of the significance of choosing the right payment option in your casino run. This discussion proves that it can be a serious deal breaker when betting online. With the added incentive it provides players, selecting the best payment method is already a game in itself.
Fortunately for Australian players, online casinos here have a plethora of services to choose from. Just like any other service, each has its own benefits and downsides. The best thing that will work to your advantage is the availability of payment services to most of Australia. As the saying goes, “Having one option is not an option.” With online casinos, this is indeed the reality.
FAQ – Payment Methods
We have compiled some of the most common questions that players have regarding payment options.
What payment method has the fastest processing time?
Which is better to use, an e-wallet or debit/credit card?
Do I need to have a credit card to fund my online casino wallet?
How can I withdraw my online casino winnings?
Does my location matter when choosing a payment method?
Casino Reviews by WhereGamble
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