One of the key aspects to consider when choosing an online casino is their payment methods, that is, deposits and withdrawals. There are several options offered by online platforms in Malaysia, and the idea of this short article is to go through some of the most common ones, showing their advantages and weaknesses, and everything you need to consider when doing a transaction through that method.
Casino Payments 101: A Beginner’s Guide
Hopefully, my guide will give you a good idea of the different available options in the market and help you if you are starting in the world of online casinos.
Cryptocurrencies: A Swift and Secure Option
This is one of the fastest ways to deposit or withdraw your funds into (or from) your gambling platform. There are several online casinos in Malaysia that accept this type of payment, like UEA8, BK8, Nova88, or Plae8, and due to the nature of the blockchain, it is a very secure form of payment. Another interesting aspect of crypto transfers is that they are anonymous.
A lot of the online casinos that offer this type of payment and withdrawals guarantee instant transactions, with most of the payments processed within minutes. However, some of them also inform their customers that depending on the traffic there might be delays of a few hours, sometimes up to 24 hours. Even considering this, the speed of crypto currency transactions is unbeatable compared to other payment methods.
E-Wallets: Seamless Transactions
Another popular way that I feel is very popular to perform deposits and withdrawals in online casinos is by using e-wallets. These wallets have become very popular during the last few years, and there are a lot of them available, each one with its set of pros and cons, and almost always with the possibility to access a prepaid card to make some payments easier.
A popular example that I can give is of this sort of payment method in Malaysia is GrabPay, and a lot of online gambling sites accept this method. Generally speaking, deposits and withdrawals done through e-wallets are a little slower than cryptocurrency transactions, however, they are considerably fast, averaging processing times of 1 to 2 days to be completed, that’s why I have considered this as the second option in terms of speed.
Credit or Debit Cards: Straight from the Wallet
In my opinion, this is the most traditional way of payments, and credit and debit cards are definitely one of the most chosen methods among online casino players. Nowadays, almost everyone holds at least 1 debit or credit card, and for those that don’t feel like creating new accounts (for e-wallets or cryptocurrencies) this is a great option.
Although this is a method that goes mostly one way, as it is not very common to use it for withdrawals (given the fees and the times of processing), it is commonly used to perform deposits. You should check the times of processing in your casino and with your bank/credit card issuer, but in general, it goes from 2 to 5 business days.
Bank Wire Transfers: Old School but Reliable
A bank wire transfer is another traditional way that online casino users can utilize to make their deposits and withdrawals. If you are not very confident about cryptocurrencies or e-wallets, this is the safest option as it has the backing of a robust financial institution, however, it is one of the slowest methods of payments that can be found in these types of platforms.
Although the exact amount of days that a bank wire transfer may take to be completed might depend on different factors, like your bank, your online casino, the traffic, and others, they usually take no less than 5 business days. Sometimes they might take up to 15 business days, so it is important to bear this in mind before planning a deposit or withdrawal through this method.
Navigating Alternative Payment Options
There are other known payment gateways that are also used to facilitate online payments. Some popular sites in Malaysia are EeziePay, Help2Pay, and DuitNow, and these platforms offer different ways to perform and receive payments. Each of them has their own characteristics and connects either with cryptocurrencies, e-wallets, bank accounts, or with all of them. We left them to the end as they offer a comprehensive solution for online payments that are also accepted by several online casinos, such as Pay88, and Betworld88, among others.
Empower Your Play with Seamless Online Casino Payments
So I have presented some of the most common payment methods, both for deposits and withdrawals, so after reading this short text you should be able to know a little more about them and their strengths and weaknesses.
Now you should investigate the online casino in which you are willing to play and check the authorized payment and withdrawal methods, timelines, and more.
Take advantage of the customer support that is in general offered by these gambling sites, so you make sure that your preferred payment method is accepted and know exactly what to expect when performing both deposits and withdrawals. I feel it is crucial to have this information beforehand, that way you will have full control of your balances and will be able to move your money from one platform to another without any unnecessary delays.