There are lots of different ways to deposit on bingo sites, some are obvious, like using your debit or credit card there are also things called online payment processors. These are secure sites which you used to deposit money online and you can then transfer to your bingo sites or even to shops to buy items. I’m sure you’ve already heard of one of them, PayPal, well-known for its use on eBay but it has a lot of other uses as well. A lot of bingo sites allow you to use PayPal to deposit on their sites. Another well-known payment processor is Neteller, they’ve been around a long time and have been used in the past mainly for gambling sites, but they are now accepted on a lot more bingo and even shopping sites. But what is a payment processor and how would it help keep your money safe? Personally, I would stick to long-standing sites such as those already mentioned as their well-established and have a history of secure transactions. When you register for a payment processor site, regardless of which one, you enter your debit card and/or bank account details, these are securely stored on the site and you are given login details. From then on you no longer enter the debit card details anywhere else, all you need is your secure login to deposit on any site that accepts that payment processor.
Another option if you’re not happy using your bank card details online is a prepaid card, these are becoming more popular and are an easy way to get money online, the main problem with using them for online bingo is not all allow money to be withdrawn onto the prepaid card so you could end up with a problem on how to withdraw your winnings.
Most sites will only allow you to withdraw winnings via the same method as you used to deposit, therefore if you used your bank card then the winnings would go directly into your bank account when you request a withdrawal on the bingo site. The same happens with a payment processor, the money withdrawn goes into your account with the payment processor. You can then either use it to shop online or withdraw to your bank account. Withdrawal times vary between sites and also depend on how you deposited, if you used an online payment processor then a withdrawal can be done in minutes, withdrawing to your bank account varies from over night right up to two weeks. There should be more specific information on your bingo site.
If you are fortunate enough to win a large amount then don’t be surprised if the bingo site ask you to send them some photo id before you can withdraw, this is not them being awkward it is in fact a requirement of money laundering legislation and they have no choice but to ask. In fact you might find they also ask if you would mind having your photo taken with the cheque and put on their site but in most cases this is optional.
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