Online poker sites receive clients from all over the world, so naturally they offer a variety of deposit and withdrawal options for the convenience of the customers. Credit cards, e-wallets, prepaid vouchers and wire transfers are some of the methods by which you can deposit money into your online poker account. The same methods are offered for the withdrawal of winnings from your poker account.
Much thought should go into the selection of the right method for depositing funds into your poker account. It is convenient to use the same method for deposits as well as withdrawals. Sometimes the site where you play poker online may not permit you to do this. Or, your local laws might not permit the use of debit/credit cards for gambling transactions. So, it is advisable to do some background checks before you settle on a banking option to fund your online poker account.
Although not impossible, changing the deposit option at a later stage is a tedious process and may involve a lot of interaction with the customer service department of the online poker site. Another aspect to keep in mind while selecting the deposit method is the currency that it supports. Also, the deposit option should provide services in your country. These are some of the crucial points to be looked into before selecting the deposit and withdrawal method. Reading the Cashier Section/Banking Page on the poker room’s website will give you a fair idea of all these aspects.
Poker players find debit and credit cards the most convenient banking method to fund their poker accounts. The popular providers include VISA and MasterCard. American Express and Diner’s Club are some other card options. Electronic Wallets or e-wallets are also very popular with online poker players. Neteller, MoneyBookers and PayPal are some examples of e-wallet systems that have been providing services in many countries.
The Unlawful Internet Gambling Enforcement Act of 2006 made it almost impossible for Americans to gamble online. The Act banned financial entities from funding gambling related transactions as a result of which many e-wallet companies stopped servicing American customers. However, after some years, many new banking methods ideally suited to the US online players were devised. Today, there are quite a few online poker rooms that accept US players and offer US friendly banking options.
Some poker players prefer to use prepaid vouchers to fund their online accounts. Players can purchase prepaid vouchers at the provider’s retail outlets and use these vouchers to fund their online poker accounts. E-checks and wire transfers are other banking methods used by some poker players to deposit funds into their online poker accounts. The only disadvantage with these methods is that processing time of a few days is involved. Unlike credit and debit cards, these methods are not instantaneous.
Withdrawing your winnings from the poker room is another important banking aspect when you play online. Most often players do not have a good experience when it comes to cashing out the winnings. The best way to avoid disappointments is to be thoroughly familiar with the poker room’s terms and conditions as regards to withdrawals. Generally, poker rooms do not allow withdrawals unless all the documentation and verification process is complete. So, the poker room will take some time to process the first withdrawal request. Subsequent requests however will be processed quicker.
Poker sites allow you to withdraw your winnings in a number of different ways. These include withdrawals to credit cards and e-wallets. Poker players also prefer to receive the withdrawals by check since this is the easiest option although it might take time. So when you play poker online, select a banking option that allows you to deposit as well as withdraw funds; in other words, it must be suitable and convenient for you.