Use your eWallet payment method
With the growth in popularity of online casinos and the increased need to transfer funds online, the development of online payment methods like e-wallets has increased considerably. An e-wallet is a type of electronic fund that can be used for making online transactions through a personal computer, tablet or Smartphone.
E-wallets work as a virtual credit or debit card, connected to your bank account, they allow you to deposit, withdraw and spend money online. Just like regular cards from a bank, they offer complete security, easy and convenience to the user with the added advantage of complete privacy, allowing for your activity online to remain completely confidential.
You will find various kinds of e-wallets on the market today. The most popular e-wallet companies include Neteller, PayPal, Skrill (formerly known as Moneybookers), PaySafe, Click and Buy and UKash. Many reputable online casinos accept these e-wallets as payment methods, the most popular being Skrill and Neteller.
In order to help you learn more about e-wallets, we have created the following useful guide:
E-Wallets: What are they?
E-wallets are extremely convenient payment systems. They comprise two key elements: information and software. The information section is a database that contains all your personal and financial information including your name, residential address, and bank details. The software element protects your details online by securely encrypting your data.
Creating an E-Wallet Account
E-wallets provide the opportunity to store numerous banking options such as debit cards, credit cards, and bank account details online, in order to make quicker, secure and efficient transactions. In order to set up the account on your preferred e-wallet, you are required to visit the official page of the website on your web browser and enter the required account information.
After you have set up your account, you can make purchases online. You just need to enter your username and password to execute the transaction. Alternatively, you can download the mobile-friendly app on your Smartphone to carry out the transaction even when you are out and about.
After you have created your account with your preferred e-wallet company, you will need to link it to your bank account through a debit card transaction. You can also, process a manual bank transfer. The e-wallet works as an interface to your bank account, thus offering you both security and confidentiality.
How Much Does it Cost to Use an E-Wallet?
Usually, all the types of e-wallets charge a certain amount for sending money. This fee is comparatively lower than fees charged by other businesses; it can be as less as one percentage some even don’t charge at all.
You might be also be charged for receiving funds. Again, this is usually nominal. There are e-wallets that permit you to move your funds internationally across various currencies as well. In this case, you might need to check the currency exchange rate, it usually ranges between 3 to 5 percent. In some cases, you might be charged an inactivity fee if you don’t use your e-wallet for an extended period of time. The good news is that there is no fee charged by the online casino for using e-wallets.
You should check with the customer care executive of your e-wallet provider to receive a clear understanding of the amount they will charge for the use of each service they provide.
The Advantages of Using E-Wallets at Online Casinos
The majority of players now opt for e-wallet as their primary mode of payment and the reason being, the numerous advantages the e-wallets offer. Some of the key benefits are listed below:
- With e-wallets, you don’t have to disclose your financial information to the online casino. You are only required to fill in your email address and password in order to transfer funds. The transaction takes place from a secured page and your financial details are never stored by the third party.
- When you use an e-wallet, your bank will not know your casino activity as an e-wallet online activities are anonymous. Apart from having the information relating to the amount you have deposited and withdrawn, your bank will have no details of the online casinos you are playing at.
- When you pay with your e-wallet, your risks are restricted only to your e-wallet account. Though there are few chances of your account to be hacked, if it did occur, only your e-wallet balance would be at risk. Many suggest that with this in mind, you should keep your e-wallet balance low.
- You don’t have to worry about your transactions being blocked when you use e-wallets. Usually, when you use your bank or a debit or credit card, your transaction might get blocked because of your gambling activities. It is unlikely that this will happen when you use e-wallet for making transactions at online casinos.
Use E-wallets and Enjoy Attractive Bonuses offered by Online Casinos
You will find various online casino operators that offer lucrative bonuses to players when they join their casino using specific payment option such as PayPal, Skrill or Neteller. So, it is a win-win situation for players as they not only receive the added perks but added security as well.