Of all the technological advancements to influence the online casino market, casino banking is certainly the most profound. In the early days, the only way to fund your account or withdraw your winnings was by direct fund transfer through your bank. The option still exists today and is mostly used as a withdrawal method. However, the two most popular banking methods used online is the trusty credit card, and the more modern web-wallet facility. Each has their own pros and cons and is relatively immune to casino crime, but which method is best in the long run.

Let’s start with credit cards. As you may have noticed, credit cards are accepted at just about every online or mobile casino on the net. The only exceptions are the Bitcoin casinos which are another story altogether. Credit cards are also super-easy to use and offer instantaneous casino deposits. With 3D Secure technology, credit card fraud is a thing of the past and you can make multiple deposits at multiple casinos.

The Benefits of Credit Cards

When it comes to cashing out, you can withdraw your winnings directly into your credit card account. The only thing is that it might take a while. Depending on the casino and your financial institution, it may take up to 5 days to reflect. So, if you are not in a hurry for your cash, this is a good option to go with. You also have the ability to access your credit facility, although gambling on credit is not advised. With web-wallets, there is the hassle of funding your web-wallet account before you can start playing online. Yes, there are multiple ways to fund your account, but at the end of the day, there is an extra step involved. The good news is that web-wallet casino payments are extremely safe and instantaneous. You can also use your web-wallet account to send money to friends and family as well as purchase goods and services online.

The Benefits of Web-Wallets

Web-wallets are ideal for players who enjoy playing online slots for real money in Canada but don’t want a credit card and still want the flexibility of instant online payments. One of the biggest advantages of web-wallets is that withdrawals are pretty much instantaneous too. Since there is not financial institution involved, your funds move from your casino account to your web-wallet account within a few minutes. This is a handy feature, especially if you really want to get hold of your cash straight away.

The only problem with web-wallets is that if you want to get the money back into your bank account, you will have to make a withdrawal or transfer the funds in your credit card, which again is an additional stop. Some web-wallets offer a prepaid MasterCard or Visa card that you can link to your web-wallet account. You can use the card like any other credit cards, for online purchases or simply withdraw your cash at an ATM.

Choosing a Banking Method

Choosing between credit cards and web-wallets should be based on your lifestyle choices and how much anonymity you want online. Web-wallets are ideal for funding accounts across the web with completely safety while credit cards give you the backing of a major financial institution. It all comes down to what you want and how you want to get your money out at the end of the day.