Compare Irish Casino Banking Methods

Which Payment Methods Can I Use to Deposit Money at an Online Casino?

There are many different types of casino payment methods. These include, but aren’t limited to: debit cards, which can be used in a similar way to any other online purchase; e-wallets, where users create a digital wallet to make transactions; prepaid cards like Paysafecard, known for its money management and security perks; bank transfer services, directly linking your bank account with the casino’s; and pay by phone bill providers, a service which requires only an active mobile number to make deposits.

Each site will differ in the casino banking options they offer. While you can use debit cards at all online casinos, some might not accept PayPal and others might only accept certain credit cards, so you need to ensure that the method you want to use will be accepted.

Are Funds I’ve Deposited at an Online Casino Safe?

At TopRatedCasinos.ie, we will always review and recommend the most trustworthy licensed sites for you to play at. By only playing at our licensed online casinos, you can be sure that your funds are kept safe and secure.

Licensed casinos use data encryption to ensure that all communications and transactions are carried out over secure, private networks, so you can be sure that your financial data is kept encrypted and secure.

Types of Casino Banking Methods

Here are some of the main casino deposit methods you could use.

Debit Cards

Almost universally accepted at online gambling sites, debit cards consistently rank among the most trusted deposit options for casino players. Many people already use debit cards in their daily lives, making this a convenient way to fund their casino account.

However, while banks and casinos protect transactions with encryption technology, some players may still feel uncomfortable sharing their debit card details whenever they sign up to an online casino. Another potential drawback is that withdrawals can take several working days to hit your bank account.

PayPal

Since launching its European operations in Dublin in 2003, PayPal has become one of Ireland’s most trusted e-wallets. Users can link all their bank accounts and debit cards to their PayPal account and can fund any casino transaction using just their email address.

Coupled with world-class encryption, it makes PayPal an incredibly secure payment system that’s ideal if you prefer not to share financial information online. Generally offering fast withdrawals as well, there are few drawbacks to PayPal. You should, however, confirm it’s an acceptable payment method for any casino bonuses you hope to claim.

Other e-Wallets

PayPal isn’t the only digital wallet you can use to make online casino deposits and withdrawals. Popular e-wallets like Neteller and Skrill present a reliable alternative. Although perhaps not as widely accepted as PayPal, they work in much the same way by allowing casino players to gamble online without the need to share their card or bank details.

Both Neteller and Skrill come complete with trustworthy security measures, generous reward schemes and the ability to cash out winnings rapidly. As with PayPal, you should ensure that these alternative e-wallets satisfy the terms and conditions of any sign-up bonuses.

Prepaid Cards

Prepaid card systems like Paysafecard offer an ideal payment solution for players who 

want to keep their gambling spend entirely separate from their bank accounts or e-wallets. Paysafecard vouchers of various denominations can be purchased using cash or your bank card in physical retailers or online.

You then just enter the 16-digit PIN to move the funds into your casino account. Withdrawals are not possible using a Paysafecard, however, and you will have to use a different banking method to claim any winnings you may have made.

Pay by Phone Bill

Another online casino payment option is to make deposits through your mobile phone bill using a payment processor service like Boku. This service lets you add to your bankroll by entering your mobile phone number at the casino cashier page, rather than your sensitive financial information.

Your deposit amount will then added to your next phone bill. As this essentially offers a way for players to gamble on credit, tight deposit limits apply, and withdrawals aren’t possible using these kinds of payment services.

Wire Transfer

With the range of online casino payment methods available these days, it’s easy to forget you can also take the classic route of moving money to and from your online casino account by bank wire transfer.

This can be a good option for high rollers, as you’ll often be able to deposit and withdraw far higher amounts by wire transfer. Processing times can be longer, though, and you should check if fees are attached to transactions.

Cryptocurrencies

If wire transfers are among the oldest casino payment methods, then cryptocurrencies may be the newest. While licensed casinos that accept cryptocurrencies like Bitcoin and Ethereum are still few and far between, things may well evolve rapidly as crypto becomes increasingly mainstream.

Depositing with a cryptocurrency is usually instant, and the same applies to withdrawals. You will need to be up to speed with the volatility of these digital currencies and how they work, though, to ensure you’re not caught out by any sudden changes in price.

Do I Need to Pass KYC to Deposit at an Online Casino?

As is the case with online sports betting sites, it’s a legal requirement for licensed online casinos to perform Know Your Customer (KYC) checks before allowing players to deposit funds. This process is carried out to confirm your name, age, and that you haven’t previously chosen to self-exclude from gambling. KYC checks are also carried out to prevent criminal activity such as money laundering.

Your casino may be able to automatically verify your account by checking database records, but if it can’t you’ll be asked to provide identity documents in order to complete the verification process and deposit.

Passing these checks usually requires players to upload either a passport or government-issued driving license, as well as a recent utility bill or bank statement with proof of address. A casino may also require details regarding the source of funds.

You’ll usually complete KYC checks as part of the sign-up process when you open a new account, but certainly before making your first deposit and playing real money casino games. If you fail to complete the KYC, the casino will place some form of restrictions on your account until you provide the necessary information.

If you have any questions about the verification process, it’s worth contacting the casino’s customer support team for extra clarity.

When Can I Withdraw Money from my Casino Account?

Most casinos have a withdrawal amount you need to hit to be able to withdraw money. This is usually either €10 or €20 and can vary depending on the banking method you can use.

The casino withdrawal methods are mostly the same as the deposit methods, but prepaid cards and phone bill payment methods can only be used for deposits. You may be charged a fee for using certain withdrawal methods like credit cards, but this will be firmly stated on the casino site. Once you have requested a withdrawal, the casino will take some time to process it.

Once the withdrawal request has been processed, the money needs to reach your account. This varies widely depending on the withdrawal method you requested. Many casinos can fully process their withdrawals in a few working days.

The Benefits to an Instant Withdrawal Casino

It’s only natural to want to receive your casino winnings as soon as possible, it’s your money after all. Some banking methods – particularly debit cards – can be very slow in processing payouts, often taking up to five working days. But at an instant withdrawal casino, casino players will generally be able to get their hands on their winnings as soon as they request them. At the very least, fast payout casinos will deliver funds no later than 24 hours from the request, even on weekends. 

If you’re a multi-layered online gambler, with favoured games in a range of categories, instant withdrawals can be essential to your playing style. You might find yourself hitting 21 at the blackjack table, before switching up to a hand of poker, and then settling down for a stint on your favourite Microgaming slot. To facilitate this, you’ll want quick access to all available funds, and instant payouts casinos are the way to achieve it. 

Creating an Account and Depositing with PayPal

Creating a PayPal account is free and easy – just follow these simple steps:

1. Head to the PayPal homepage and select ‘Sign Up’
2. Enter your mobile number, which will trigger a verification code to be sent to your phone
3. Key in that code, before adding your name and email address and choosing a secure password
4. You’ll then be invited to link a bank or credit card to the account. PayPal will charge a small fee while it carries out its verification checks, which will be refunded to the card after a few days

Once these checks have been satisfied, you’ll be ready to make your first PayPal deposit. Here’s how it’s done:

1. Take a look at our list of the best PayPal casinos
2. Use our links to click through to the site, which will take you straight to the registration page
3. Sign-up by entering your personal information
4. Again, there will be some verification checks to complete before you can make a deposit, which may involve submitting some form of ID and proof of address
5. Once these are done, head to the cashier page, select the PayPal option, and key in the amount you’d like to deposit
6. Enjoy your PayPal funds!

Creating a PayPal account carries many perks that aren’t necessarily related to online gambling. For example, transactions are made even easier by downloading the PayPal app and activating the paypal.me feature means PayPal users can send you money without even downloading the app. 

Casino Processing Times Explained

The time it takes to receive your withdrawal request depends on a few things: first, the method with which you’ve withdrawn the funds; second, the casino’s own processing times; and third, the processing time of the payment vendor. 

The best payout online casinos make a commitment to shorten their processing times, and most will do so within 24 hours. Once the request has been processed, the speed with which you receive your winnings is entirely dependent on the payment method. Some, like e-wallets, are fast, while others, like debit cards, are slow. 

If you’re making your first withdrawal at a new casino, processing times can be particularly slow, because the casino will be required to carry out its Know Your Customer (KYC) protocols in the name of player safety. These checks will only need to be carried out once, and from then on withdrawal times will be faster. 

Bear in mind that the withdrawal process is also hindered if you want to forward winnings to a different banking system. For example, if you’ve made a withdrawal request to an e-wallet, you’ll have the choice of keeping the funds in your digital wallet or sending them on to the wallet’s linked bank account. If you choose the latter, you might have to wait a few days for the money to appear in the designated account.

High Withdrawal Limit Banking Options

If you’ve hit the big time at the VIP live dealer roulette table with a string of successful high-stakes bets, but the winnings exceed the withdrawal amount, meaning you can’t access all of the funds right away. High withdrawal limit banking methods eradicate this issue, allowing players to withdraw large amounts whenever they like. This can be particularly important when playing a high variance casino game, such as some online slots, where you’ll want to make the full withdrawal with one request.