Whenever you are transferring money somewhere, or make a payment of any sort, someone is making money out of it, and this is done through fees. There are always fees attached to online payments, but the question is who is paying them? The answer is that it’s either the one sending the money or the one receiving it. According to new rules, it should always be the receiver who pays the fees, but is this the case, or are the fees pushed over to you?
As soon as you send money somewhere, or receive money for that matter, someone has to process your transaction, and this is done by a payment provider. This is a company that simply has the tools to transfer money, and they aren’t exactly helping you out with this due to the kindness of their hearts, they are, like everyone else, in it for the money. This means that they get paid for every transaction they perform, and this is done by collecting what we know as payment fees.
This is also true for casino deposits. It’s never free to add money into your casino account, and someone has to pay for it. In many cases, you will notice that the amount that gets deducted from your bank account or e-wallet is an exact match to what you get in your casino account, and when that is the case it means that the casino is covering the deposit fees for you. In other words, the casino is paying to receive your deposit.
The best option for us players is of course if we don’t have to pay any fees so that the casino takes care of that for us. That is however not a service all casinos want to offer their players, at least not for all payment options. Most often all casinos offer at least one deposit method which you can use without paying any fees, and that would be the cheapest one for them to use, which is almost always a bank transfer. As this deposit method is not instant it is not a means of deposit many players choose to use.
The most common way of depositing into your casino account is by using a payment card, such as VISA or MasterCard. The fees for a credit or debit card transaction is always 2.5%, which is neither a lot or little. In terms of fees it is quite standard, as many other forms or payment charges stay the same. That being said, to pay 2.5% in fees for every deposit can quite quickly become a substantial amount, if you play a lot. It can also get even worse if you choose to use other deposit methods such as PaysafeCard or en e-wallet, as some casinos charge as much as 5% in fees for these deposits. This is however not standard, as you can also pay less. Everything from 1% to 3% is considered normal for these methods.
When a casino chooses to cover the fees for their players this is a service they most often offer for all their players, but in some cases, they only do this for their VIP-players, or for players who make bigger deposits. There are some casinos who have set a limit of C$50 minimum for free deposits. This means that if you deposit C$50 or more per deposit you make there will be no fees to pay, but if you deposit less than this amount you’ll have to cover the fees yourself.
If you see offers like this it can be tempting to deposit C$50, just to get away with no fees, but keep in mind, that this is done to encourage you to make bigger deposits, and if you plan to only deposit C$20 it is quite a lot to more than double this just to not have to pay 50 cents in fees. So if you are determined not to pay any fees, then find a casino that never charges fees for any deposits, no matter the size.