New Zealand online slots players are always looking for the fastest and most convenient methods for making deposits and withdrawals. However, as well as speed, it’s important to keep in mind when choosing a payment method how secure it is to use, and any fees that might be accrued as well.
In this article, we look at all the casino payment methods available when you’re playing slots, compare how fast they are, how simple they are to use, and also give your our recommendations as to which online casinos offer the best withdrawal times and simplest procedures.
What to look for in a casino payment method
Most online slots players have the same priorities when it comes to selecting a casino payment method:
- Convenience — We all want a payment method that is easy to set up and access, and doesn’t impose unnecessary restrictions on moving our money.
- Charges — Most of us accept that moving money around online may involve some costs, but with best casino payment methods, these should always be minimal.
- Security — The rise of cyber crime has meant that we all have to be cautious about protecting our financial information, so a payment method has to be secure.
- Privacy — Not everyone is comfortable with banks knowing how we spend our money, so the ideal casino payment option is one that also maintains your privacy.
- Speed — For most of us, this is the key factor when choosing which payment method to use. Everyone wants to get their money in — and their winnings out — as quickly as possible.
What should be considered as a fast casino payout time?
When we talk about fast payouts and how long it takes to withdraw money from an online casino account, there are two factors that contribute to this — the time the casino takes to process a withdrawal request, and the time your credit card, e-wallet or bank then takes to clear your money.
All online casinos require some time to process a request to withdraw cash, especially when you’re a new player withdrawing for the first time (money laundering laws require casinos to satisfy themselves that you are who you say you are). However, the time that each casino takes to do this can vary a lot — at some sites, you can expect your request to be completed the same day, while others may take up to 3 working days to do this (they always give you time to change your mind!).
In our experience, if an online casino in its T&Cs guarantees to process a withdrawal request within 24 hours of receiving it, we’re happy to call this a fast payout time — anything quicker than that is a real bonus. On the other hand, any site that takes more than 3 working days to complete a withdrawal should definitely fall into the unnecessarily slow category.
The other factor that contributes to fast payouts is the deposit/withdrawal method that you use, as these can significantly impact on how long it takes to get your cash. For instance, with the fastest methods, like e-wallets and PayPal, once the payment has been completed by the casino, your money is available straight away; with credit and debit cards, it can take up to 5 working days for funds to clear; with direct bank transfer, you can be waiting up to 7 working days to receive your money.
It’s also important to remember that with some payment methods, you can only make deposits and not withdrawals. If you use one of these (like some pre-paid cards and credit cards), then you’ll usually get your cash via bank cheque, so be prepared for a lengthy wait!
Check out our table below of the casino payment methods with the fastest withdrawal times.
The casino payment method with the fastest payouts
After lots of experimenting with a variety of casino payment methods, we’ve come to the conclusion that e-wallets are the fastest and most secure, although they’re not without minor drawbacks.
E-wallet accounts, like Neteller, Skrill, EcoPayz and Click2Pay, don’t cost you anything to set up, and they are really easy to use both in a casino and elsewhere online. You can also use credit and debit cards, bank transfers and Paypal to deposit money into an e-wallet. One disadvantage is that you will incur fees when you add money to an e-wallet, although this is probably outweighed by the benefits.
You also get you extra security and privacy with e-wallets, because you are not storing important information like credit card numbers on a casino’s servers, nor do your casino transactions show up anywhere on your banking records.
Best of all, e-wallets offer the fastest deposit times and the quickest payouts when you withdraw your winnings. When you make a deposit, the cash is in your casino account is ready to play with instantly; when you make a withdrawal request, as soon as it’s processed by the casino, you can access the funds in your e-wallet straight away.
However, one other drawback to using e-wallets is that at some online casinos, using one to make your initial deposit into a new account means that you won’t be able to claim the Welcome Bonus, so if you choose this option make sure you read the casinos’s signup offer T&Cs closely first.
Tips to get faster payout times
If you want to make an online casino withdrawal as fast and as smooth as possible, the first step is to ensure that you provide all of the proof of ID the casino requests at the first time of asking, and make sure you include everything they call for. Not having all the paperwork in place is the number one reason why online casino withdrawals are delayed.
The other way of ensuring you’re getting the fastest possible payout times is to choose the best casino payment method that lets you get hold of your cash quickly — you can read more about these below.
The most popular NZ online casino payment methods
We consider these to be the best casino payment methods in terms of speed (and other benefits), in order from fastest to slowest.
As well as offering the fastest payout times, e-wallets are universally accepted at New Zealand online casinos, provide high levels of security and privacy, and they are easy to set up and use (although there are some fees attached).
Skrill, Neteller and EcoPayz are the most popular with New Zealand online slots players, although there are others out there.
Although not yet universally accepted at all of our recommended online casinos, PayPal has a number of advantages as a payment method, not least that many people will already have set an account and use it regularly. When you deposit into your casino account using PayPal, you can play with the cash straight away, while withdrawals are also completed instantly once they’ve been processed by the casino.
3.Pre-paidand virtual cards
Pre-paid and virtual credit cards are popular with those players who don’t want to use conventional credit cards, or those who like to keep a close on their budget. EntroPay is the most widely used virtual Visa card at our casinos, with both deposits and withdrawals processed instantly. Using a PaySafe Card also means that when you make a deposit, your cash is there to play with straight away, although there is the significant disadvantage that you can’t use PaySafe Card for withdrawals, and so an alternative (and usually very slow) method needs to be used for this.
Many New Zealand slots players may already be familiar with POLi, as it’s been around here and in Australia for quite a while. If you have a NZ bank account, this is linked to your POLI account and the latter acts as a sort of middle man to move funds from your bank to your casino account, while keeping your financial and bank details private and secure. Both deposits and withdrawals are processed instantly.
5. Credit and debit cards
Visa credit and debit cards are universally accepted at our recommended online casinos, with the majority, also accepting MasterCard, but increasingly this is for deposits only, which can present a problem. Almost no online casinos accept AMEX or Diner’s Club.
The three major drawbacks to using bank issued credit and debit cards is that with most, it takes between 3-5 working days before any cash you withdraw from your casino account is cleared. There is also the added issue of sharing your card details with the casino, where they are potentially vulnerable to hacking, while for players who value their privacy, having casino transactions appear on your statements mightn’t always be ideal.
6. Direct bank transfer
Although the vast majority of the New Zealand casinos that we list accept direct bank transfer (or bank wire) for deposits and withdrawals, this is a payment method to be avoided if possible, as it’s by far slowest way of getting your money into and out of your casino account; deposits can take up to 3 working days, while it’s not uncommon for withdrawals to take up to 7 working days to clear.
In the end, we think that the key factors that should help you decide which online casino payment method to use are:
- the speed with which both deposits and withdrawals are made
- the security that the payment method offers
- the level of privacy that you get
- how easy the payment method is to set up and then use
- the fees attached