A Guide To Australian Poker Deposits and Withdrawals
Making deposits and withdrawals comes with the territory when you play poker online. And while real-money poker is all about taking down pots and crushing the fish, it's also about finding the best banking method for you.
Perhaps you want to use a debit card to spend cash you have in your account. Maybe you're the type of Aussie poker player who'd rather keep everything anonymous in a virtual e-Wallet, or perhaps you want to use Australian favourites like POLi.
Whatever your deposit option, it's important to pick a method that's right for you. Avoid fees, guarantee the fastest cash-outs, and save yourself conversion charges if you play at an overseas site. Let's take a look at some popular ways to make deposits for Australians.
Choose Aussie banking methods that are right for you:
- Avoid hefty charges and conversion fees
- Get your winnings out super-fast
- Deposit and withdraw in Australian dollars
The Best Australian Deposit Methods
Most offshore poker rooms offer Aussies a huge range of ways to load up their accounts. Cards are secure and safe, but can carry big fees. E-Wallets, meanwhile, are anonymous but may charge when you cash out. Hunt around and study the Cashier pages well before you commit to an online poker room.
Using Debit Cards
Debit cards are a great way to move cash to and from your Aussie bank. Not all Australian bank cards are eligible for gambling, and not all sites accept debit cards. However, if you are happy to gamble with funds direct from your bank account, debit cards are a superb option.
Credit Card Deposits and Withdrawals
Credit cards like VISA, MasterCard and Diners Club are a safe and secure method for making poker transactions online. You can usually load funds in Aussie dollars, and many poker rooms won't charge. However, it's worth knowing the charges that come from the card supplier. Typically, you will incur a 3 percent fee on top of your transaction as card providers treat gambling deposits as "cash advances".
Many poker sites in 2020 will only allow you to withdraw to a credit card if you have used one to deposit with. Others won't honour cash-outs to MasterCard at all, meanwhile. That means you'll have to have an alternative cash-out option ready.
Making e-Wallet Transactions
Virtual e-Wallets allow you to load a single account with multiple Aussie cards and bank transfers. With one handy wallet you can then move AUD to your poker account. Easy, huh?
Transactions are super-quick, and you will usually avoid fees when loading up. Just be wary of charges when you cash out back to your Australian bank account. Typically, fees of 1.9-3 percent of the balance may be incurred when you withdraw.
Skrill: With Skrill, or its simpler younger sister, Skrill 1-Tap, you can take advantage of one of the world's best and most-respected Internet e-Wallets.
PayPal: Used at millions of outlets and online merchants, PayPal was set up firmly with gamblers in mind. That's why it's accepted widely at the best Internet poker rooms.
NETELLER: Based in the UK, Australians are able to load up their poker site accounts with one easy wallet username and ID at Neteller. Cash-outs are quick, around 2-4 days, but be aware of fees when you complete a poker transaction.
Bank Transfers For Fast Payments
Don't have a bank card? Worried about your credit card details being hacked? Don't want to get into debt playing poker?
If the answer to those questions is yes, a bank transfer might be for you. Many Internet poker sites allow transfers made direct from your Aussie bank account. Check with your bank first to see if they will allow gambling transactions. If they do, you can make safe and fee-free transactions direct to your gaming account.
There are third-party processors like Aussie favourite, POLi, who provide a buffer between the poker site and your bank. This can be a good alternative option if you're worried about declined payments.
POLi is currently available to Australians and New Zealanders through ANZ, BankDirect, TSB Bank, ASB, Kiwibank, Westpac, Bank of New Zealand or The National Bank.
Utilising Prepaid Vouchers For Poker
Prepaid voucher schemes like paysafecard are great if you want to keep your card details off a site. With a voucher you simply purchase a code number online or in participating outlets and enter the number at the poker Cashier.
While maximum transactions are pretty low with vouchers, you'll usually avoid fees. And what's better than keeping your valuable credit card details off a site and risk hacking?
What Payment Methods Allow Poker Transactions?
At the best online poker sites, Australians can load their accounts using debit and credit cards, secure e-Wallets, or bank transfers. Some rooms also let you transfer cash via cheque or a prepaid voucher scheme.
Can These Be Used At Most Sites?
Most of the major online sites will provide for every major card provider and e-Wallet firm. You'll also find rarer card providers like AMEX and Diners at some sites. The best thing is to choose a deposit option that's right for you, and one that's ideally available in Aussie dollars.
What Method Is Recommended For Australians?
Essentially, the best banking method for Aussies is the one that saves you time and money. If you can use a debit card, the payments are fastest and you can load up a small amount at a time. Debit cards can also be used for withdrawals. E-Wallets are super-secure but you have to factor in fees when you cash out money.
Which Is The Safest?
Credit cards boast the latest SSL encryption to protect customers' online transactions. Major players like MasterCard and VISA take great pride in their security as so many millions of customers use their services. In addition, if you are the victim of fraud when using a credit card while playing poker, you may be protected and receive refunds.
Which Ones Are The Quickest For Transactions?
Most e-Wallets and debit and credit cards will be processed instantly when you deposit. Bank transfers typically take longer, while sending a poker site a physical cheque can take days.
Cashing out is another matter for Australians. Poker sites usually add 24-48 hours to every transaction period in case you want to reverse the withdrawal. After that you're at the mercy of your card provider or e-Wallet site. Cash-outs can take anything from 3-8 business days to complete.
Should I Use A Credit Card If Possible?
Not necessarily. Credit cards have great security in-built but they aren't accepted at some sites. Also, your Aussie credit card provider may not allow transactions to online poker sites.
Credit card deposits can be low, usually around $10 or $20, but if you're using a MasterCard you may not be able to cash out to any other card or virtual wallet.
What Fees Are Involved?
Fees vary from site to site and can also differ greatly depending on your banking option. While many sites waive fees if you deposit with a card or bank transfer, the providers themselves may charge you. If you're depositing at a UK poker room, you may have to convert Aussie dollars into GBP first. This can see even more fees applied to your deposit.
For e-Wallets, fees vary depending on what method you use to deposit and withdraw. Most virtual wallet providers charge between 1.9 and 5 percent to use their service. If you're making lots of transactions it might be worth waiting until you have a huge amount of dollars in your poker account and transferring it in one go.