E-wallets have quickly become one of the more versatile and user-friendly options when it comes to transferring money and managing your payments online. Real money casinos use eWallets for many things including paying your regular bills but also for funding and receiving funding from an online casino. The use of online casinos and different approved e-wallet means that users can avoid cash-based transactions, protect their confidential and sensitive personal information like banking details or credit card numbers, and input something as simple as a third-party card number or email address in order to transfer money one way or the other.
There are many ways that one can make payments and receive funds when gambling online. Part of the appeal of the online gambling industry is the ability to use more than just cash-based payments. In fact, using traditional casinos means only using cash deposits and then withdrawals. For a variety of reasons this can represent a safety concern; after all, walking around with so much money in cash draws attention and certainly from those players who watched you win that much cash. Add to this the fact that there are often fees associated not only with the casino in question but with each bank and it is clear to see how it can end up costing more than one wants when cash-based casinos are used.
Steering Clear of Cash-Based Transactions
When you work with cash, there is the added issue of not being able to keep track as easily of the same things you are already doing, like the dollars and cents associated with different games, rounds, or hands. When you play games online, there is no issue, no confusion, and no wondering what happened to your $5 here or your $10 there. Instead, everything is tracked online so that you can know what you spent where and what you earned with online casino banking.
How to use an online casino eWallet
Using an e-wallet as a casino payment option allows you to take advantage of the same games you love at your favourite online casinos in a safe and secure fashion. Try blackjack online with ease. There are many different e-wallet options out there from which to choose. Some of the more popular e-wallets include EcoCard and PayPal. These services function as intermediaries, between the casino and your bank. Using an e-wallet means that you can put money virtually speaking from your bank account, checking account, savings account, or credit card, and deposit it into the e-wallet. Then, you can use the money in your e-wallet to make a deposit at your favourite online casino. When you have finished playing your games and you have made sufficient winds, you can take your winnings and withdrawal them back into that e-wallet.
Benefits of an eWallet payment method
One of the biggest benefits that people enjoy from using an e-wallet is that the fees are significantly lower. You can deposit and get a welcome bonus to spend immediately. Many traditional banking institutions will charge you a great deal of money every time you do something like a transfer outside of the banking system. If you have a bank account with one bank, and you need to send money to a business, online casino, or friend who uses a different bank, they will charge you an amount sometimes based on how much you are sending or just a flat fee. In some more severe cases, your bank or financial institution might chargeable. If you are changing currencies it can also be problematic and rather expensive. Most official banks will charge you a flat fee if you have to send money in a different currency and that fee is to cover the transaction of changing from one currency to another. But they also charge you a percentage of the total amount as a processing fee. You might get a different exchange rate than the day you sent the deposit if your bank takes a few days to approve. By that point you don’t deposit much as you want for your winnings are worth as much as they work. When you use an e-wallet there are typically no fees or, if there are, they are very flat.
At PayPal casinos, for example, You are not charged a fee to send money to the online casino the same way the bank would when you use it to fund an account. And when you make your withdrawals from your winnings you can enjoy a lower fee so you get to keep more of your money. You also get the security and protection previously mentioned because you don’t have to divulge any of your personal information. Different e-wallet companies will ask for various levels of personal data when you sign up to use their service. And in some cases, you don’t even have to create an account in order to take advantage of what they have to offer.