US Poker Deposit / Banking Options
Let me ask you a question—
What are the most important qualities to look for in a poker site?
I’ll tell you – the traffic, games and promotions.
However, for Americans there is one thing that comes before all that.
Banking options aka how the heck you’re going to fund your poker account.
The reason why is because it’s hard for Americans to make deposits to offshore poker sites. You have the US government to thank for that.
So we thought it’d be helpful to create a page that lists all the options Americans can use to fund their poker accounts along with the pros and cons of each. If you want to learn more about a particular method and what poker sites accept it, just click the link(s).
Deposit Options You Can Use at a US Poker Site
Here are the top banking options available to US poker players.
This should be your go-to option. You can use your credit, debit or prepaid card. All poker sites accept them too – and don’t charge any fees.
Pros – This is the best option because it’s fast, easy and free. One of the few things in life you can say that about.
Cons – Your bank might decline your request (to make a deposit). You can’t use Visa for withdrawals either.
MasterCard is no different from Visa. Our page will explain what sites you should join, troubles you might run into and answers the most commonly asked questions about MasterCard and online poker.
Pros – Fast, convenient and free. You can use your MasterCard to fund other deposit options, too.
Cons – Dealing with declines and having to use a different withdrawal method.
The last credit card option on our last. Use your Amex card for fast deposits, high/low limits and fast processing. Our Amex page will show you where to play.
Pros – Another fast, easy and cheap deposit option. Heck, you might even earn some rewards using it.
Cons – Fewer rooms accept Amex compared to Visa or MasterCard. So you’ll want to read our page to find out which rooms do.
Bank wires are great choices for when you can’t use a credit card. Our bank transfer page will show you why it’s sexy to use regardless.
Pros – You can transfer thousands of dollars and the funds are debited from your account instantly. You can use bank wires for withdrawals, too.
Cons – There is a 1-5 day delay for deposits. There are fees for withdrawals, too.
MoneyGram
This is a money transfer option. It's like a bank wire, only a 3rd party is transferring the money for you. Our page will explain why that’s a good thing.
Pros – Deposits only take a couple of hours. You can use money transfers for both deposits and withdrawals.
Cons – There are faster and more convenient methods for both deposits and withdrawals, and you might have to pay fees.
Western Union
They’re another money transfer solution – only they’re bigger than MoneyGram. The idea is the same – give them your money and they’ll send it wherever in the world they have another office. Our page will tell you what the best sites to join are and how to make your deposit.
Pros – Western Union is a great way to deposit without your bank knowing about it. And sometimes you can use them for both deposits and withdrawals.
Cons – It’s not the easiest option to use and it’ll cost you money.
Additional Options for Legal Poker Sites
Okay, those options are great. But what if you join a legal poker site – do you have any other choices?
You do!
Because banking is so difficult (even in legal areas, yes) the casinos were forced to work with other payment processors to come up with solutions for their players.
Here’s what they have so far.
Net+ Card – This option comes from Neteller. They started operating in the US at the start of 2014. They introduced their Net+ card which allows Americans in legal states to make deposits. They plan to roll out a withdrawal option soon.
PayPal – This option isn’t here yet, but we’re salivating at the thought. Rumors have been confirmed that New Jersey is in licensing discussions with PayPal. This would be huge for the state and online poker in general. PayPal would increase awareness, lend authority and establish/build trust in (legal) online poker.
What You Need To Know About Withdrawals
Most of the options we suggest above are available only for deposits. You’ll have to go another route if you want to cash out your winnings.
Here are you options:
Check – This is your standard paper check. Most rooms will cut a check for free – at least the first one of each month, with subsequent checks setting you back $20-$40 each. Checks can take 2-6 weeks to hit your mailbox.
Echeck – Same as above, only faster.
Bank Wire – Bank wires will take up to 7 days to hit your account. Most will set you back $30-$40, which some would argue is a drop in the bucket considering how fast you can get your money.
Money Transfer – Receive your money in as quickly as 5 days via Western Union or MoneyGram. This will set you back a few bucks, but you can’t argue with a 5-day turnaround, let alone such a method that keeps your bank in the dark.
Which option is the best?
That’s up to you.
But before you choose a method I recommend reading the terms and conditions carefully to fully understand the fees, turnaround times and so on.
You don’t want to end up with any surprises. Banking is hard enough as it is.