In today’s world, people expect their transactions to be more convenient and faster than ever. Delays are becoming more unacceptable, and even when it comes to getting money to friends and family, most expect electronic payments to be as easy and speedy to use as cash.
That’s where the growing field of person-to-person payments comes into play. Fast, reliable, and simple to use, these services allow users to transfer money between each other in an instant, making it a perfect way to settle up after a meal or pay for something a group purchased together. They’ve also found their way into the online gambling industry, with some operators offering them as a way to make deposits quickly from either a computer or a mobile phone.
With many sites offering some sort of person-to-person (or P2P) option, it can be difficult to figure out which ones are right for you. Thankfully, our team of experts has used their years of experience in the industry in order to recommend only the best and most reputable casinos for our readers. Our picks have a number of great features, including:
24/7 customer support available by phone, email, and live chat
Banking offered through various P2P systems
Hundreds of great casino games from leading software providers
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Person-to-person payments aren’t one specific company or system, but rather an entire class of processors that are designed to make it easier for individuals to conveniently and quickly transfer funds to one another. Many people are already familiar with services that fir into this category: Venmo may be one of the most famous, though many banks and payment processing companies also have their own similar programs.
There are generally two ways in which P2P operations are set up to work. First, as in the Venmo model, users much sign up for an account with the service and set up a funding source, such as a bank account or a credit card. Users can then send funds to others (often including those that don’t have accounts with the platform yet) using either funds from the source they’ve selected, or using cash that is being held in their account.
Some banks offer these kinds of transfers in a different way. Customers can log into their online banking account or use a mobile app in order to tell their bank how much they want to transfer, and to whom it will go (often identified by a phone number or email address). The recipient is then notified, and can supply their banking information to the original financial institution, which can use that to actually process the transaction.
Because there are a number of different P2P versions out there, we can’t tell you exactly how your experience with this sort of a transaction will work. However, there are some basics that will always apply. First, you’ll have to sign up for an account at one of the websites that accepts deposits in this manner. Secondly, you’ll also need to have access to an appropriate person 2 person system that the casino works with.
Once you’re ready to go, you’ll want to take a look at the deposit choices listed in the cashier section of your chosen online casino. There, you should find one or more P2P options. Choose one that you’re interested in using, and you’ll be instructed on where you’ll need to send your funds. At this point, you may be automatically directed to the program’s app or website, or you may have to manually visit it in order to process your payment.
From that point on, it’s just a matter of sending the funds over to the operator at the address they provided. Most processors in this category offer instant transactions, so once you’ve confirmed the transfer, your money should hit your balance in a matter of moments, allowing you to start playing immediately.
One of the best things about these programs is the fact that they offer a level of convenience that’s hard to match. Whether you’re making a deposit at your favorite iGaming website or just want to send a few bucks over to a friend, you can typically do it in just a few moments right from your mobile phone without any fuss or complicated procedures. This is hard to match, even among other electronic payment systems. These platforms also tend to be highly trusted and are familiar to consumers, as they can be used in countless situations outside of the gaming industry.
The one downside here is that no particular name in this sector has become extremely popular among casinos. That means that you’ll need to find a site that uses the P2P platform of your choice; it’s not as though you can simply expect to use Venmo at every gaming website you enjoy (in fact, that particular brand doesn’t allow itself to be used for gambling purposes at all). That means that these aren’t as flexible as you might expect for gaming purposes.
Where is This Method Offered?
Various person-to-person platforms are available in jurisdictions around the world, and most are widely available in major markets. However, you’ll want to check to see if any particular service is actually offered in your country before attempting to use it to make a deposit.
Can I Use This for Withdrawals?
In theory, it is possible for these systems to be used to process cash outs as well. However, it is unclear if any casinos are actually offering this option to players at this time.
Are There Any Fees?
In most cases, players will not be required to pay any fees when making transfers through these methods. Instead, any transactional fees will be picked up by the casino operators instead.
Do I Need to Sign Up?
This depends on the service being used. In some cases, your financial institution may offer a P2P option right from their online banking service, in which case no new signups are required. If you’re using a third party service instead, however, you will need to register an account in order to make deposits through that program.
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