The best online casinos in the Philippines offer players a wide variety of payment methods. This guide covers everything to know about them.
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The Ultimate Guide to Casino Payment Methods
The online gambling industry is quite lucrative, especially in the Philippines. But before joining a real money casino, you have to ensure it supports safe, secure, and convenient banking options. Moreover, it’s important to keep in mind that not all payment methods are available in the Philippines. Of course, that’s because the online gambling laws in the country work differently. Hence it is vital to know the available options before making your online casino deposit.
This comprehensive guide is specifically dedicated to Philippine online gambling payment methods. So if you need a push start in the world of online gaming, this is the right place. We have all the information about the most popular casino payment options. From the processing fees and time to the various limitations, and more.
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A Brief History of Payment Methods Development
The Philippines boasts as one of the first Asian countries to introduce digital payment systems as early as 2001. The first mobile money was run by a telecommunication company known as Smart Communication Inc. Basically, this new money transfer technology allowed users to pay bills and purchase goods using their mobile phones.
However, many people in the country prefer over-the-counter (OTC) payments to their digital counterparts. By 2013, only 1% of the country’s transactions were via mobile money transfer. However, the use of digital payment systems vastly increased in 2018 after Filipinos got debit and credit cards.
Of course, the COVID-19 pandemic also greatly contributed to the growth of mobile and QR payment methods. Since curbing the spread of the virus required as little human contact as possible, online payment methods became even more popular. Since then, many Filipinos have embraced digital payment systems in all areas of life, including online casino gambling.
Online Casino Payment Methods for Filipinos
Filipino online casino players have plenty of payment options to transfer funds to and from their accounts. For example, you can manage your casino bankroll using regular bank transfers, various debit/credit cards, and even cryptocurrency. Besides, you can even opt to buy prepaid cards at your local convenience store and use them whenever you want.
However, usually, these payment options have varying limitations and requirements. So naturally, they also have advantages and disadvantages that come with each solution. Let’s look at some of the most trusted and popular payment methods at the top online casinos in the Philippines.
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Credit and Debit Cards
Credit and debit cards were the very first payment methods to become available at Philippine online casinos. They have since become the most popular and trusted method for many online gamblers. Although credit and debit card transactions are slower, they guarantee the safety of your funds and financial information.
Additionally, it’s pretty simple to set up and fund your online casino account using credit and debit cards. Most online casino sites accept these payment solutions but not without some limitations. For instance, using debit or credit cards at online casinos usually means you have to comply with minimum deposit requirements.
Of course, each casino is different but generally minimum deposit limits hover around 1,000PHP and sometimes there may be a maximum cap as well. The most popular credit and debit cards for Filipinos are Visa, JCM, Dines Club, OCBC, Mastercard, Visa Electron, and Maestro Card. While these methods work in the same way as the traditional systems, they have the prepaid version, too.
E-Wallets
Electronic wallets or e-wallets have gained popularity among Filipino online gamblers over the past few years. The benefit of opting to manage your casino funds with e-wallets is that you can enjoy instant transactions. Moreover, e-wallets are faster and safer than their credit/debit card counterparts.
But the best part about these digital wallets is that they let players control their funds. Further, many people prefer e-wallets because they support multiple currencies, including the local Philippine Pesos. E-wallets tend to be more private since players are not required to provide their personal information. In addition, most e-wallets can be funded by credit/debit cards, bank accounts, or prepaid cards.
The leading Filipino online casinos support common e-wallets like Neteller, Skrill, PayPal, and ecoPayz. E-wallet deposits also come with limits that usually range between 500 PHP and 130,000 PHP per transaction. However, withdrawal limits may also vary depending on the casino site you choose.
Wire/Bank Transfers Online
Bank Transfers may be an old payment system but are quite reliable, especially where big transactions are involved. Many online casinos still support wire transfer payments, although it’s most commonly used for withdrawals.
The drawback of online bank transfers is you must have cash on hand for deposits and a bank account for withdrawals to be processed. Additionally, this is one of the slowest options at real-money online casinos. They also have some of the highest withdrawal fees compared to other banking options. Usually, withdrawal requests can take up to 5 business days to be processed. Most Filipinos opt for the most popular online bank transfer option – Western Union.
Offline Payment Methods
Depositing funds offline to play at an online casino may sound strange, but it is quite common in the Philippines. The latest online casino sites offer players the option to fund their accounts directly from an actual bank.
This is pretty simple if you use a check to process payments. However the drawback of using this method is that it takes much longer to transfer funds, despite being reliable. The most common Philippine offline payment methods are eCheck, Western Union, Banco de Oro, Metrobank, and Allied Bank branches.
Cryptocurrency
Cryptocurrency payments have become prevalent in the Philippines because they allow players to stay anonymous. Besides, these modern systems use blockchain technology which adds a layer of security to players’ funds. In addition, cryptocurrencies are decentralized, and they are not linked to any institutions like banks or governments.
The first crypto was launched in 2009, but there are hundreds of types to choose from at the moment. While crypto casinos are similar to regular gambling sites, they offer provably fair casino games. The most popular cryptocurrencies for Filipinos are Bitcoin, Cardano, Ripple, USD Coin, Litecoin, Ethereum, Dogecoin, and Binance Pay. Cryptocurrencies are also the fastest option as deposits and withdrawals are instant, regardless of what casino you choose. Given the rich bonuses and promotional offers attached to crypto payments, they are the best options you can think about.
Prepaid Cards
For those seeking extra safety, Filipinos can also load money onto prepaid cards and then use them to make deposits at online casinos. The unique thing about prepaid cards is that they support limited gambling, which helps to curb addiction or overspending. Additionally, they are available in multiple currencies, including the Philippine Pesos.
Some of the most popular prepaid cards to use are MST Gift Cards, Paysafecard, Astropay, Entropay, and ecoPayz. Nevertheless, deposit limits for prepaid cards are always present and vary depending on the method and casino. But there are usually no additional fees when you transact online.
Deposit & Withdraw via Mobile Payment Options in the Philippines
Mobile technological developments have evolved the online gambling industry. With hundreds of options available, Filipino players can deposit or withdraw funds from their accounts from wherever they are. Like other online payment methods, it took long before the Philippines shifted to cashless systems. However, their benefits in the online casino industry are beyond measure.
There are now plenty of mobile apps that enable players to make fast and secure payments. Of course, the Philippine mobile applications work in the same way as the original desktop platforms, just faster. The most common mobile apps for online casino payments are Zimpler, GooglePay, ApplePay, G-Cash, Payforit, Maya, GrabPay, and Banco.
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How to Choose the Best Payment Methods in the Philippines
With hundreds of online casino payment methods available in the Philippines, it can be quite a challenge to pick. While every player has a preference, there are some general factors that cannot be overlooked. So, to help you choose a trusted and reliable online casino payment method, we’ve put together a quick guide:
Security
The risk of losing your money at online casinos is pretty high, especially if you don’t know the right payment method to use. Online casinos are highly targeted by hackers because of the large amount of money that is involved.
So, the first thing to do is to ensure your selected payment provider is protected with the latest security technologies. The best options accepted by Philippine online casinos are protected using the state of the art SSL encryption technology.
Ease of Use
A good payment system should be easy to use for new and experienced players. But thanks to technology, most modern online casino payment methods support automatic transactions. This reduces human involvement, which can lead to unwanted errors. Nevertheless, the best option should allow users to control their loss limits to reduce overspending.
Cost-Effective
When choosing an appropriate online payment system, it is vital to think about its cost-effectiveness. This aspect is often ignored by most people venturing into online casino gambling. Considering the cost of the transaction is thus crucial, make sure the fees are minimal.
Acceptability
The best payment method should be available at the top Filipino online casinos. But you should be able to use the payment method at new casino sites, too. Of course, it is easy to trust a payment method if most casino operators support it.
Mobile Compatibility
We recommend choosing a payment method that is compatible with mobile devices. This means you can access and process payments at any time and from anywhere. Additionally, the best modern deposit and withdrawal methods have downloadable apps that work on Android and iOS smartphones.
Customer Support
Top online casino payment providers have 24/7 professional support. Filipino players can contact the support team via email, live chat, and telephone. The support providers are usually always on standby to ensure you get timely help. The support representatives can therefore assist you with your online payments whenever.
Bonus Rewards
Some gambling providers even reward Filipino players with casino bonuses when they register and make deposits with certain payment methods. Of course, the size of the casino deposit bonuses vary, they help to boost your bankroll so take advantage! Though we encourage our readers to choose big bonuses, make sure you always read the bonus terms and conditions first.
Convenience and Privacy
Most people prefer payment methods that are convenient and fast. You should pick a method with instant deposits and withdrawals. Basically, this guarantees the money will reflect in your account immediately to allow you to play. Additionally, the best withdrawal methods, like Bitcoin for instance, offer instant withdrawals.
The Bottom Line
Payment methods are a major aspect of any online casino offering real money gambling in the Philippines. This is because everyone wants their money to be safe and secure at all times. Of course, the choice of banking options varies among Filipino online gamblers.
Some players prefer traditional credit/debit cards, while others prefer modern alternatives like e-wallets and cryptocurrencies. But whatever your preference is, in the Philippines players have an ample selection of deposit and withdrawal methods. To check where your favorite payment solution is an option – check out our online casino reviews.
FAQ
When sourcing the best online gambling payment system, make sure it’s protected with the latest security technology and is easy to use.
The online payment options that Filipinos can always rely on include regular bank transfers, e-wallets, and cryptocurrency. Of course, this is also a matter of preference.
Of course, yes. Our recommended payment options are safe to use at top online casinos in the Philippines. The best payment providers invest in sophisticated technology like SSL to protect users.
Yes, of course. There are many online mobile payment systems available at online casino sites in the Philippines.
No. Most online payment method providers, like e-wallets, don't charge fees on transactions. They allow players to deposit and withdraw funds instantly and at no cost.
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