Understanding Deposit Options for Online Poker

Online poker players have multiple options to choose from when considering making an online poker deposit. Each type of option has pros and cons. There are now plenty of credit card alternative deposit methods available at most online poker sites. Players will need to be aware of the fees associated with using each specific type of deposit method. The fees will vary from one method to another. Online poker players primarily use three types of deposit methods; credit/debit cards, bank transfers and e-wallets.

Credit/Debit Cards

Credit and debit cards are by far, the most preferred online poker deposit method among online poker players. The reasoning for this is the ease of use and the instant access of funds. Players can simply pull their credit/debit card out of their wallet, type in the required information, hit submit and be playing poker within a minute or two. U.S. players may experience problems with this option due to the 2006 UIGEA legislation. However, most online poker sites are now using third-party payment processors to ensure that the majority of these player's deposits are processed successfully. Just about every online poker site in the industry accepts Visa and MasterCard. Some online poker sites also accept Diners Club and American Express.

Bank Transfers

Bank transfers or bank wires are another popular method for online poker players to deposit funds into their online poker account. The most common form of this type of payment is conducted via Echeck. Echecks are a bank draft that comes out of the player's checking or savings account. The benefit of Echecks is that once the player's bank account has been verified, the player is allowed to make deposits and have instant access to the funds. The instant access is a key advantage since the funds will actually take a couple days to be taken out of the player's bank account. Bank wires are not as popular but online poker sites on occasion do offer the option for players to have money wired to the online poker site from their bank account.

E-Wallets

E-wallets are the deposit method that seems to be steadily gaining popularity. E-wallets are popular because they serve as a credit card alternative and they serve other purposes as well. E-wallets are an electronic account online in which players can manage funds, purchase goods and services online and handle online poker banking transactions (deposits and withdrawals). E-wallets usually only charge fees when the player loads funds into the e-wallet account or when they receive funds. Typically, the process of funds moving between the E-wallet and the online poker site is free of charge. E-wallets serve the purpose of being a viable option for players to shuffle their bankroll around. This is very advantageous for players that play at multiple online poker sites. The most commonly used E-wallets are Neteller, Click2Pay, Paypal, EwalletXpress and Moneybookers.