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Online Poker Deposit Methods
By Sam Goode - March 26, 2016
You’ve read all the books you can find that teach you how to play poker, you’ve practiced and practiced poker strategies that pros use, and you’ve become a billionaire on free-to-play online poker sites. Now you’ve decided that it’s high time you play online poker for real money.
You just have to go through one last hurdle – depositing money into your online poker account.
Depending on your location in the world, depositing funds can be easier said than done. That is why at HitYah, we’ve done the legwork for you so you can discover a range of online poker deposit methods. We take the time to provide you with accurate information so by the time you’re done reading this guide, you will be able to determine which one works for you.
Consider Your Location
There are restrictions on depositing cash to online poker sites, and they vary depending on where in the world you are located. For instance, if you are located in the United Kingdom or in other areas in Europe, you are most likely to be able to deposit directly by simply using your credit card. However, if you are located in the US, say in New Jersey, depositing money to your online poker account may be a little more complicated.
Hence, before you choose an online poker tournament, read through the deposit methods below to see explanations and suggestions. Once you’ve seen your options, you will be able to make a sound decision on the best means you can deposit cash to your online poker account.
Visa and MasterCard
Using a major credit card to deposit to your online poker account is the first thing you should try. This is because the best online poker sites in the world primarily work with MasterCard and Visa to provide a simple transaction method for the players. After downloading the poker room client, it will only take a few minutes for you to try this payment option. If the site declines your card, you may be over your credit limit or this deposit method may not be allowed in your area. Note that in the US and some other countries, banks have restricted players from making transactions from online casino gaming sites.
With over 180 million customers around the world, PayPal is considered as a well-known payment processor which is also available for a number of online poker sites now. It may not be a widely used deposit method among poker sites in the UK, but it is beginning to become more widely available.
PayPal accounts can be funded through bank transfers as well as debit or credit cards. Using this payment method will secure your information as the sites will never know your account number. If you dispute a PayPal transaction with a poker site, you will receive a transaction ID number. This guarantees a money back up to a limit particularly set out in their terms and conditions.
These days one of the most common deposit methods that poker enthusiasts use when they go to play online poker games for cash is instant eChecks. These may be a relatively new way to deposit funds online, but a lot of players swear by them. eChecks work the same way a regular check does. When you use an eCheck, the amount will be requested from your bank. Once it clears, the funds are then directly transferred to your online poker account.
In general, processing of eChecks is fast. For example, at PokerStars, once you’ve deposited using an eCheck, the funds are reflected as soon as the check clears. However, there are still cases where it can take up to ten days for the amount to be reflected in an online poker account. On the other hand, withdrawals generally take several days. A lot of poker players use this method because it is very secure and, usually, it does not require transaction fees. However, it should be noted that there are some banks in the US which block this payment method.
Internet-Based Payment Processors
Under this section, you will find eWallet services that you can use as a poker deposit method. Essentially, this type of payment processor acts as a middle man between an online poker site and your bank – much like PayPal. eWallet services are one of the fastest and most secure methods of depositing funds. However, you should note that the turnover for this area is high. For instance in 2007, Neteller – one of the largest online payment processors in the world – was banned from the US market due to a number of legal issues. Other online payment processors followed. However for poker players in the UK, for example, they can freely enjoy the ease of depositing through the eWallet services below.
For over a decade, Neteller has been providing a secure online cash transaction option to its customers. It is becoming increasingly popular across the world and a lot of poker sites accept this as a deposit method. Players can fund Neteller accounts through credit cards, bank transfers, eChecks or through an ATM card. Needless to say, it is one of the most flexible online payment processors in terms of funding options.
Note that there is a fee when you use Neteller as a deposit method, but a lot of online poker sites waive the charge once a deposit has been made. It is also a secure payment method as players are not required to disclose any financial information to poker sites when they make a deposit. Neteller also incorporates a 256-encryption system so you can rest assured that your money and details are kept safe.
Formerly known as Ukash, Skrill follows credit cards, PayPal and Neteller among the most popular deposit methods that online poker players use. Accepted by all major poker sites in the UK, a Skrill account can be funded through credit cards, wire transfer, bank transfer and through eChecks. Unfortunately, US players cannot use Skrill to deposit to their online poker account. However, they are still allowed to create an account on Skrill.
If you plan to play with big amounts of money, then you will be delighted to know that service fees that poker sites like Poker Stars, Full Tilt, and Sky Poker charge for Skrill deposits are lower than other payment methods. You can even withdraw funds back to your Skrill account without paying any fees.
If you’re looking for an ideal alternative to traditional credit cards or debit cards, you can use EntroPay to deposit funds to your online poker account. In a way, it works like a prepaid and virtual Visa card which can be utilized for online purchases. Online poker sites that accept this method of payment include Poker Stars, Winner Poker, and Party Poker, among many others.
After you sign up for an EntroPay account, you will be automatically approved. You can load the EntroPay card through any major credit card without risking your actual credit card information online. Using this method of payment can add another layer of protection against criminals who go online to steal credit card numbers.
If you do not have a bank account or credit card, Paysafecard is an option you can use to deposit cash to your online poker account. You can purchase a Paysafecard through select local retailers, and once you’ve transferred money to it, you can go to an online poker site and start funding your account. However, it is important to note that you cannot use this as a withdrawal method for your online poker winnings.
A lot of online poker sites offer bank transfers, though mainly for winnings withdrawals only. However, the big online poker sites like Party Poker permits players to use this method for deposits. You can arrange a transfer with a trusted bank in 72 hours or less, and you can access that amount within 24 hours or less of the final transaction. Even with the service fees, it is still a popular option due to the security it provides.
Elsewhere on our HitYah site you can read further details about online poker deposit methods.