Australian Online Casino Payment Options
One of the most important considerations for Australians looking to do a little wagering online is to determine not only how they’ll initially fund their accounts so they can get started, but also how they’ll get any subsequent winnings out of that account, and the processing times they can expect through those options, as well as the fees associated with those transactions.
There are 3 main possibilities available to Australian players, each with their own strengths and weaknesses. Those options are credit cards, online payment processors, and bank transfers. Let’s look at each option in greater detail and look at those benefits and drawbacks.
Credit cards are a good all-around option for those Aussies already possessing one of them. Online casinos, poker rooms, and sportsbooks all accept the most common credit cards, including VISA, Delta, Switch, Maestro, Euro 6000, and Laser. Credit cards tend to allow for some of the fastest processing times for both deposits and withdrawals, as well as the lowest fees. Of course, the fact that you’re taking out a line of credit to make a deposit, and the fees associated with that, will probably outweigh any benefit derived from the slightly lower transaction fees.
In fact, for those not already possessing a credit card, the actual annual fees of the card itself would probably mitigate a lot of the savings earned through using it. However, for those who don’t wish to go through e-wallets or aren’t patient enough for the sometimes lenghty bank transfer process to complete (a particular pain when you don’t plan your deposits and withdrawals ahead of time), credit cards make for their best overall choice. Some casinos also offer deposit bonuses for credit card users, so its worth watching out for those as well.
Bank transfers allow you to send money from your bank account, directly to the gaming operator. One of the prime benefits of bank transfers is that middle men can be avoided, and your financial information is kept as anonymous as possible. And while the process can be a slight hassle the first time you undertake, as you’ll need to locate and enter all of those pesky account numbers and codes, it is much simpler and more straight-forward afterwards.
Bank transfers do have some notable drawbacks however. Firstly, despite the absence of middle men, your bank will likely charge you a fee equal to our greater than the fee charged by a credit card company or e-wallet to process your transfer. The other drawback is the timeframe. Bank transfers typically take the longest to process on both ends of the spectrum: deposits and withdrawals (which can also be made directly to your bank account).
Bank transfers will be a good option for anyone who doesn’t currently have access to an e-wallet or credit card, and doesn’t particularly want to get one. For everyone else, they may prefer to look into their other payment options first.
eWallets (NETELLER, POLi, Skrill, etc...)
Also known as e-wallets, this option is the one most commonly used after credit cards, and gaining in usage as more and more Aussies open and fund e-wallet accounts for various purposes online. A few of the e-wallet options available to Australian players at most casinos are Click2Pay, Skrill (formerly Moneybookers), Ukash, Neteller, and Paysafe Card. Some of these, like Ukash and Paysafe Card allow you to actually purchase the card from a physical location with cash, allowing you to essentially avoid online transactions altogether, since the only information you’ll ever need to use is the anonymous pin code of your purchased card. It should be noted that Paysafe Card does not allow withdrawals, though Ukash does, in the form of a new code for the withdrawn amount.
As with credit card transactions, deposits using any of these options is usually instantaneous, allowing you to begin playing immediately. Another benefit is the smaller deposit minimum afforded by these options. While bank transfers and credit cards often require minimum deposits of $AU30, e-wallet deposits can often be as little as $AU15 to $AU20. On the flip side, e-wallets typically don’t allow for large deposits (Ukash for instance has a maximum of just $AU300, though most are much higher), so high rollers looking to fund a big bankroll immediately are better off using their credit card.