Looking to learn more about online casino payment methods? Read this article to learn everything you should know about the different methods.
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Payment Methods
Online gambling is increasingly becoming popular in the Philippines. Gambling enthusiasts from Asian countries can play a wide range of games at top online casino sites. One of the biggest challenges faced by beginners is finding reliable payment methods they can use to deposit and withdraw funds from their casino accounts.
A good online casino should have a range of trustworthy and reliable payment methods. This guide takes a closer look at the different online casino payment options you can use in the Philippines. We’ll help you choose a payment method that works for you.
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History of online payment methods
The Philippines is a fairly new market in the online gambling industry, meaning the country is a bit behind when it comes to online casino payment methods. It was not until 2018 that Banko Sentral ng Pilipinas (BSP) started working with banks to increase the use of electronic payment methods. By the end of 2021, the number of people using electronic payment methods had increased from 1% to 20%.
It’s not that the Philippines didn’t have any electronic payment methods, but rather lacked the resources and facilities to support electronic payment systems. However, the Philippines were quick to embrace e-payment. Today, a large percentage of the Philippines prefer using cashless payment methods. There has also been an increase in eCommerce sites and online shoppers in the country.
Although the use of electronic payment options has increased in the Philippines, there have also been challenges such as slow internet connection, financial inclusion, and others.
Payment methods you can use in the Philippines
The best Philippines online casinos offer a wide range of payment options to deposit and withdraw funds from your account. Here are the most popular payment methods and we will explain how to use them.
Credit/debit cards
Credit and debit cards are the most common electronic payment solution as they are accepted in most parts of the world. They are convenient and safe, allowing you to make payments in a matter of seconds. Another reason why they are highly preferred is because of their low minimum deposit limit. They also have a lower transaction fee compared to other payment methods.
To verify your card, you’ll be required to provide personal details like national ID, passport, or driving license. Credit and debit cards are also popular online casino payment options in the gambling industry. And the good news is that you can transact in PHP currency. The most popular credit and debit cards in the Philippines include VISA, American Express, MasterCard, Visa Electron, and Maestro.
Electronic wallets
Also known as e-wallets, electronic wallets are the most popular online payment method. The funds are stored in the wallet and can be transferred from one wallet to another. It works on internet-enabled personal computers and mobile devices. The main advantage of e-wallets is that they provide an easy and straightforward platform to make payments online. You don’t have to deal with many cards. As long as you have linked your account to the merchant, you can enjoy a seamless purchasing experience.
E-wallets are also secure. They have strong encryption that ensures your personal details are protected. In addition, e-wallets have a large number of subscribers and accept transactions in different currencies, including PHP. The most popular e-wallets are PayPal, Skrill, Neteller, GCash, Ecopayz, and others.
Bank transfers
Bank transfers are one of the oldest electronic payment methods. This payment method involves transferring funds from one bank account to another. You can deposit or withdraw funds into your online casino account in the Philippines using this payment method.
Technology has made it easier for users to carry out bank transfers using their mobile phones or personal computers. Philippine banks that allow you to deposit and withdraw funds from your casino account using bank transfers include Philippine National Bank, LandBank, Bank of the Philippines Islands, and others.
Cryptocurrency
Cryptocurrency, or simply crypto, is a digital currency that guarantees total anonymity. It is also borderless, which makes it an excellent choice for regions where gambling is prohibited. Since they are not linked to any financial institution, crypto cannot be traced or monitored. In addition, crypto has zero or very low transaction fees.
Crypto was invented in 2009 and has quickly become a preferred payment method for those looking to maintain their privacy and security when transacting online. The most popular cryptocurrencies you can use in Philippines include Bitcoin, Ripple, Ethereum, Tether, Dogecoin, and others.
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The most popular credit and debit cards
There are a few credit and debit cards you can use to deposit money into your real money online casino account. They include:
Visa
Visa is one of the most recognized brands in the world. The company produces credit cards, debit cards, and prepaid cards through various banks. What makes Visa popular is that you can easily get a Visa card from your local bank. It’s also a popular choice in the online gambling industry. To make a deposit, you’ll be required to enter your Visa card details and a secret code at the back of the card. It can also be used to withdraw funds from your casino account.
MasterCard
Like Visa, MasterCard is a popular company known for handling huge transactions. The company issues it cards through the various banks it has partnered with. MasterCard is a great choice for those looking for a secure method for depositing and withdrawing funds from their casino account. Its major cards are credit cards, debit cards, and prepaid cards.
American Express
American Express has issued more than 110 million cards around the world. It’s a safe and easy-to-use payment method. It’s also a good option for online casino players looking for a convenient and flexible payment solution. American Express offers premium credit & debit cards and cheque businesses. Its cards are accepted by many online businesses, including online casinos. American Express allows you to deposit and withdraw funds from your casino account at any time. You can also use its dedicated Android or iOS app.
The most common e-wallets
There are a few e-wallets you can use to deposit and withdraw funds from your online casino account. They include:
Neteller
Neteller is one of the best e-wallets you can use in the Philippines. It’s a great choice for people looking to shop online or transfer money from one person to another. Signing up is easy and free. You simply need to go to their payment service provider’s website and create your account. Then deposit money to your Neteller account through bank transfer or from your credit/debit card.
PayPal
PayPal is the most popular e-wallet. The payment service provider allows you to deposit and withdraw funds from your casino account. PayPal is free to use, and payments can be made at any time. This is why it’s a highly preferred option in most premier online casinos. You can fund your PayPal account through bank transfer or credit/debit card. You can then send the money to your online casino account. In addition, you can add your credit cards to your PayPal account so that you can make automatic withdrawals.
Skrill
Skrill is one of the most reliable electronic wallets. It allows you to transfer funds directly to your bank account or mobile wallet. You only need to provide the recipient’s details to transfer the funds. Skrill is also easy to use and has a lower transaction fee compared to other e-wallets. You can also fund your Skrill account in many ways.
ecoPayz
Previously known as ecoCard, ecoPayz is one of the oldest e-wallets. This e-wallet works in a similar way to PayPal. You will be required to create an account with them first. This is pretty simple and straightforward, so you don’t have to worry about that. You’ll then top up your ecoPayz account through your bank. You can also make payments directly or through your prepaid ecoCard.
Online bank transfers
Bank transfer is one of the most popular payment methods. People have been transferring funds from one bank account to another for many years. However, you’ll be required to follow certain steps when transacting using this payment method to avoid oversights. Bank transfers are essentially categorized as Electronic Funds Transfer types of payments.
In order to make an online bank transfer, you’ll need to register an online bank account with your bank. You’ll then find an online casino that accepts online bank transfers. Funding your casino account using an online bank transfer is easy. Simply go to the casino’s payment page, select direct bank transfer to navigate to your bank’s payment page, and make the payment. The funds may take a few hours or days to reflect on your casino account.
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The most common offline methods
Here are some of the most common offline online casino payment options you can use:
Western Union – Flexible and secure, Western Union is one of the best offline payment methods you can use in the Philippines. It has been in service for more than two centuries, making it a trusted payment service provider. In addition, many online casinos accept Western Union money transfers.
Bank wire transfer – Also known as bank transfers, bank wire transfer allows the transfer of funds directly from your bank to the casino’s bank account. To facilitate the transfer, you’ll be required to exchange bank account details. Your bank protects the transaction to ensure a safe and secure funds transfer.
eCheck – Electronic checks are a highly preferred payment method because of the low processing fee. They are safe and secure, using an advanced verification network to protect your money in case of any issues.
Cryptocurrencies
In recent years online payments became more diverse and cryptocurrency is a digital currency that guarantees anonymity. This is the main reason why online casinos have been quick to embrace it. Here are the most common cryptos.
Bitcoin
Bitcoin is the most popular cryptocurrency. A large number of people who use cryptocurrency use Bitcoin. The main advantage of Bitcoin is that it is faster and offers lower fees. Like other cryptos, it hides your identity.
Ethereum
Ethereum might not be as popular as Bitcoin, but it has more functionality, making it a preferred option for online gamblers. Its smart contract allows players to make payments safely.
Litecoin
The main advantage of Litecoin is speed. It’s four times faster than Bitcoin. Many online casino players want their transactions completed as quickly as possible.
Mobile payment methods you can use for deposits and withdrawals
Technological advancements have made it possible to deposit and withdraw funds from your online casino account via mobile payment methods. Let’s look at some of the methods.
Zimpler
Zimpler is a simple and convenient mobile payment option you can use to deposit or withdraw funds. The main advantage of Zimpler is that it was specifically set up for gamblers.
Payforit
Payforit is an online payment system that facilitates instant payments through its platform. You can fund your online casino account using this payment method from your mobile phone. However, make sure your preferred casino supports Payforit.
Boku
Popular with well-known brands like Google and Facebook, Boku is one of the fastest mobile payment methods. This payment method allows you to fund your online casino account using your phone number.
Tips for choosing the right payment methods
Here are a few tips to help you choose the right payment option:
- Easy to use – Depositing and withdrawing funds from your online casino account should be as easy as ABC. A method that requires you to complete a complex verification process can be stressful.
- Safe and secure – The importance of choosing a safe and secure payment method cannot be emphasized enough. A good payment method should use advanced technologies, including Secure Socket Layer (SSL) and Firewall, to protect transactions and personal details.
- Availability in your region – Your preferred payment method should also be available in your region. This will help you to avoid last-minute disappointments.
Conclusion
There are many online casino payment options you can choose when gambling online. One of the main factors to consider when selecting a payment method is your location, as some online casino payment options are unavailable in certain areas. You also need to consider speed, ease of use, and reliability. The deposit and withdrawal method is one of the main factors we pay attention to when checking online casinos, read our casino reviews article if you want to know more about how we evaluate casino sites.
Frequently Asked Questions
You can deposit money into your online casino account using a wide range of payment methods. These include e-wallets, crypto, bank transfers, credit/debit card, and others.
Yes! You can use your debit card. Many players do that every day.
Most banks will allow you to use your bank account to gamble online. In some cases, you may have to make a request, but generally, you should be able to do it yourself.
No. Gambling won’t have any impact on your credit score.
Most payment online casino payment options charge a transaction fee. The fee charged varies from one online casino to another.
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