Introduction
MoneyGram is one of the world’s most recognisable names, giving people from throughout the globe the chance to send their money anywhere. While it’s not the most popular way to deposit and withdraw money at online casino sites, there are still a handful of people who prefer to use the method, mainly thanks to the flexibility and security the banking method offers.
If you’d like to find out more about using this payment method at online gambling sites, you’re in the right place. On this page, we’re going to look at the advantages and disadvantages of this option, plus we’ll run you through exactly how to deposit and withdraw.
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Getting Started
So, what does a player need to do in order to get started with this payment option? Well, this depends on whether the player wants to send cash or transfer the money online. Those looking to transfer money online will have to head over to the MoneyGram site and create a free profile. Once all details have been entered, the user will be ready to start sending funds.
There’s also the option to send money by visiting a participating retailer and using cash. Those looking to use this option won’t have to do anything before using the service, as there’s no need to create an account. Those looking to send cash will need to bring ID with them though – the best ID to take is a driver’s licence or a passport.
Deposits
Depositing using this payment option is exceptionally easy, which is one of the reasons why so many people use the service every single day. Most will choose to send money online. Those looking to pay in this way will first need to contact their casino and obtain the casino’s details. They can then log in to their MoneyGram account and enter the casino’s details. It will also be necessary to enter card details, so the money can be taken from your bank account. After this step has been completed, a reference number will be given. This needs to be provided to the casino, so they know whose account to credit the money to.
Looking to pay using cash? If so, the process is also exceptionally easy. To start, get the details you need from the casino. Then head to a participating retailer – there are hundreds of thousands throughout the world. Don’t forget ID, as those without ID can’t use the service. When at the retailer, simply provide the casino’s details and pay with cash. As with online payments, it’s then necessary to give the reference number to the online gambling site.
Regardless of whether you send money online or in-person, you should find that the entire payment process is a completely hassle-free one.
Withdrawals
Withdrawals using this banking option are not offered by all online casino sites, however some do give players the chance to receive payouts in this way. As with the deposits, the process is a relatively simple one. It starts by heading to the site’s banking section and selecting the relevant option. Then simply fill in the required details and make note of the reference number.
Once the details have been filled in, the casino will usually take around 48 hours to process the payout request. After this, the money should be transferred to your bank account quickly. If you’d prefer, you can instead elect to receive the money in cash. To do so, just head to a participating retailer with the reference code, and they should be happy to swap it for your money. Don’t forget your ID if receiving cash from a retailer.
Advantages
The biggest advantage is the fact that this is a flexible payment method. But what do we mean by this? Well, we mean that it can be used in different ways. Those with a bank account can send money electronically, while those who feel more comfortable paying in cash will also get exactly what they want. There aren’t many other payment methods out there that give users the choice over how exactly to pay for their online casino deposits.
It’s also the case that this payment method is exceptionally secure. This is because those sending an online payment will never need to reveal their banking details to the casino – instead, only the payment company will have access to them. The result? There’s much less chance of banking details falling into the wrong hands. Those paying with cash are even more secure, as they don’t have to share any personal details at all. In fact, we can’t think of any other payment method more secure than sending cash using this banking option.
Finally, there’s also the opportunity to purchase a prepaid card from the company. This card can then be used to deposit at any website accepting VISA payments. This is great for someone who wants to deposit at multiple casino sites, as there’s no need to spend the entire balance in one go. It also keeps banking details safe, as the only details you’ll ever reveal are prepaid card details, which aren’t exactly the most important details in the world.
Disadvantages
The biggest disadvantage is the speed of deposits. Some methods allow money to be transferred instantly, however this banking option will see a short delay. Cash deposits are actually faster than online deposits, however neither lead to money in a casino account straightaway. This means that those looking to deposit using this method should plan ahead, so that they’ve always got some money to spend on their favourite online video slots and other games.
There’s also the fact that there are fees, and they can actually be quite high. The size of the fee charged depends on where the money is being sent, as well as how much money is being sent. The fees are similar to those charged by Western Union, their biggest competitor. Many people believe that the fees are worth it, thanks to the advantages this banking option brings. If you want to deposit with cash and want a depositing option with no fees, we’d recommend Paysafecard.
It’s also the case that exchange rates offered by this company can be pretty unfavourable to the user. This means that those sending money to a casino based abroad might find that their deposit isn’t worth as much as they thought. So, do some research on how much currency conversion will cost before using this payment option to deposit at an online gambling site.
FAQs
The amount of money using this method costs really depends on two things: where the money is being sent, and how much money is being sent. It can be the case that this payment option is considerably more expensive than other depositing options.
This banking option is offered to people throughout the world. In fact, those in over 200 different countries can use this method. Many people in the USA won’t be able to use this method to deposit at gambling sites though, due to the country’s strict stance on online gambling.
The biggest competitor is Western Union and both companies offer a pretty similar service. Those looking to pay lower fees when depositing online should consider a credit/debit card, an e-wallet or Paysafecard though.
The maximum amount of money that can be sent using this banking option is $1,500, which should be enough for most looking to deposit. Those looking to withdraw large wins will probably need to find an alternative withdrawal option though.
There are a number of online casino sites accepting this payment option and many of these sites are recommended by us. To find the top casino accepting this payment method for you, just read through the many different reviews here on this site.
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MoneyGram can be a good alternative if you don’t have access to traditional online payment methods or prefer cash-based transfers. However, the higher fees and slower processing times make it less convenient than other options. For me, it works best as a backup rather than a primary payment method for online casinos.
I don’t use MoneyGram for online gambling because its slower processing times and higher fees interrupt my betting flow. Moreover, many casinos don’t support it, making it a less practical option when I need quick, hassle-free deposits.
I’ve been using MoneyGram for my online casino transactions, and it’s been quite a pleasant surprise! The convenience of sending money from my local store or online is a huge plus for me. Deposits are quick, allowing me to jump right into the action. I did notice that withdrawals can take a bit longer, which is a minor drawback. However, the security and reliability of MoneyGram make it worth it. Overall, I’m happy with my experience and would recommend it to others!