Payment methods
March 13th, 2010 by MyBB team
Possibly not the most popular of all of the online payment methods that are available of the online player, but certainly one of the most accessible. The ePassport/eCheck payment processor allows its clients to make purchases or deposit money anywhere. An added advantage is that Visa is also accepted. A large number of the sites use ePassport/eCheck as an online payment solution, as it allows instant deposit functions once the sign-up account has been done. The ePassport/eCheck limits the daily transfer amount to $300 with the standard account. This is a good safeguard system for any players that are still in the start-up stages of Bingo, until their levels of competence and expertise have been honed.
| Fees: | This service range between 2% – 5% of the deposit amount |
| For: | Ranked as a top deposit option |
| Deposit or withdraw can be made anywhere | |
| Against: | System can be slower than other options |
| Fees are among the highest |
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Most Bingo sites will accept most of the major cards, but this may be limited by the card companies. A convenient method of depositing money online, which comes straight out of your personal bank account. Withdrawing winnings is not the easiest when using either a credit or debit card, and most players recommend that the winning payments are made via cheque from the Bingo site. Two of the biggest credit card companies are used by Bingo sites with some measure of success. Both Visa and MasterCard offer a service and are widely accepted.
| Fees: | Standard Credit/Debit card rates |
| For: | Accepted by most sites |
| Three choices of card (Standard, Gold and Platinum) | |
| Convenient way to deposit cash | |
| Against: | Can be rejected by the site for unexplainable reasons |
| Withdrawing winnings can be problematic | |
| Strict limitations on US sites |
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Moneybookers is an electronic wallet which can be used internationally in most countries. This payment solution can be maintained in your own currency, but exchange rates may fluctuate from country to country. As with many online payment solutions, Moneybookers act as a payment broker between online sites and your personal bank account / credit/debit cards.
| Fees: | Standard online payment rates |
| For: | Accepted by most sites |
| Offers secure banking | |
| Account can be debited by various options (C/D card & transfer) | |
| Account can be managed in own currency | |
| Against: | Minimum purchase amounts of $10 |
| Transfers can take 2-3 days depending on deposit method |
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A free site where an online account can be opened and deposited by Credit card /Debit card and bank transfer. The Neteller account offers an easy and secure online signup and transfer solution which transfers money in seconds. The security side of the site boasts an SSL (secure socket layer) and 128-bit encryption key and the highest browser encryption currently available.
| Fees: | 3.9% fee for Credit card deposits. |
| For: | Accepted by most sites |
| Very secure banking | |
| Account can be debited by various options (C/D card & transfer) | |
| 24/7 Customer support | |
| Against: | Minimum purchase amounts of $10 |
| Transfers can take 2-3 days depending on deposit method | |
| Not available in the USA |
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This allows you to make a transfer in the local currency direct from your bank. With the use of unique one time reference codes, this system is integrated into most online poker sites, but transfer time could be long.
| Fees: | Standard transaction fee |
| For: | Payment ease |
| Customer support | |
| Against: | Slow deposit time up to 4 working days |
| Unique one time reference codes needed | |
| Fluctuating exchange rate fees |
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