Payment Options for Bermudians
If you are going to be playing casino games online for real money, the most important thing to consider is what banking method you are going to use.
For players in Bermuda it is essential to find a site that offers a wide range of deposit and cashout methods to suit your lifestyle and your pocket. If you are unsure of what methods are best for your needs, we have listed the most popular banking methods below along with the pros and cons of each.
Credit and Debit Cards
Credit and debit cards are perhaps the most popular form of payment at any decent establishment. Over the past decade, the security of credit and debit cards has increased with chipped cards and 3D secure software protecting each transaction. Deposits by credit and debit card are instantaneous and you don’t need to sign up for any third-party account. The only downside is that card withdrawals can take up to a week to process. The most popular card options include Visa, Mastercard, Diners Club, Amex, Visa Electron, and Maestro.
Bank transfers and internet banking payments are popular in that they are extremely secure and all you need is the account number of the casino site. The problem is that once you have made the transfer, it can take up to 5 days for the funds to appear in your account. Bank withdrawals have the same problem as the financial institution has a long processing time.
Instant banking services offer players the convenience of internet banking with the ability to make instant deposits. Systems such as Trustly, WebMoney, and Click2Pay provide a service that works directly through your own internet banking. For a small fee per transaction, the service will transfer your funds straight from your bank account through to your casino account without any delay in processing. The same system can be used for withdrawals and the best part is that you don’t have to sign up for the service. As long as your bank is linked to the system, you can start using it straight away.
Web wallets are fast becoming the most popular method for internet gambling deposits. Often viewed as the safest way to pay, web-wallets provide enhanced security and anonymity for all players.
Systems like Neteller, Skrill, EntroPay, and PayPal require players to sign up for an e-wallet account and transfer funds into their account before any payment can be made. However, once you have funds in your e-wallet, you can use it to make instant deposits at all leading casinos in Bermuda or around the world. The best part is that withdrawals are processed instantly, and you can use your winnings to pay for goods and services online at thousands of merchants.
More and more internet gambling establishments are starting to accept Bitcoin as a standard purchasing option. In fact, some establishments only use cryptocurrency like Bitcoin or Bitcoin cash. The advantages of using Bitcoin are easy to see. Firstly, there is no processing fee and secondly the transfers are instant.
All you need to do is move the funds from your Bitcoin wallet into the casino wallet. Withdrawals are just as easy with the funds appearing in your wallet within a few minutes.
Prepaid Cards are becoming increasing popular as players move away from traditional payment options. These are debit and credit cards that are directly linked to e-wallet accounts but can be used in the exact same way as regular debit or credit cards. The best part is that you don’t need preauthorisation to get a card. Simply request one from your web-wallet service. There are even once-off virtual cards you can use that can be emailed to you.
Services like Neteller, Skrill, and EcoPayz offer prepaid cards, which you can use for Internet and land-based purchases. You can even use your card to withdraw your winnings as cash at an ATM.