eWallets are an alternate method to purchasing goods and services online securely without exposing much of your personal information such as your credit card details. It must be said that not all eWallets allow transactions with casinos, Paypal being one of them but there others that welcome transactions at online casinos such as Citadel, Click2Pay, Payspark and Neteller.
Essentially an eWallet is a virtual bank or a digital wallet that allows you to store funds (ecash) using a credit card, debit card or prepaid cards. Transferring funds via these means are instantaneous and the funds are available immediately. Funding your eWallet can also be done via ACH, wire and bank transfers which will take some time to be processed. Some eWallets offer their clients ATM cards that allow for purchases online and cash withdrawals.
For most players around the world opening an eWallet account is easy and painless unfortunately USA and Canadian citizens often have more difficulty in opening an account due to the various laws in their country, such as UIGEA in the United States. Fortunately there are eWallets that still accept US residents. We also recommend that you take a look at our prepaid options as well.
The benefits of using an eWallet not only ensures far greater security and privacy with your transactions but also offers a further bonus, quite literally. Most online casinos prefer that you use an eWallet of some sort and to show and perhaps even motivate players to use one they offer a percentage bonus on your initial deposit which is usually in the range of about 10%.
We recommend using Neteller as it is the most popular eWallet amongst veteran players and most internet casinos support it. Netellers transactions are quick, instant when using a credit or debit card and between 1-3 days when using a wire transfer. Funding your player account with Neteller is instant but it must be noted that when requesting funds from your player account it could take a little longer which is no fault of Netellers but that of the casinos as they usually process all cash outs once a day. It must be said that some Microgaming casinos have automated withdrawals which means that your requested funds will instantly be available in your account.
Neteller also allows you to verify your account which will allow you greater limits and you are able to wire funds to your bank account.
Take note; that eWallets charge a currency conversion fee, therefore we recommend that you open a casino account with the same type of currency as your Neteller account to avoid subjecting yourself to any unnecessary conversion fees.
Please read our reviews of the various eWallets and other banking options that are available online to help you decide which option is suitable for your needs.