CBM Writer

Using Local Payment Options & Currency: Is it Worth It?

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January 26, 2021

Not all players are fully prepared when they enter the online gambling arena. Many forget to take into consideration certain aspects of the experience. Although they seem less important at first, they often end up being major factors. Casino Banking Methods wants to highlight the relevance of playing casino games online for real money in a localized environment.

What are we on about? In our extensive research of casino banking methods, we’ve found that access to local payment options is a game changer. After studying the ways of moving money from different sources to gambling accounts, it became clear that local currency and local banking put players in a favourable position. This isn’t something we just want to put out there and leave you scratching your head. Keep reading why CBM values the use of local “tools” when playing at online casinos and why you should as well.

The Term “Local Payment Methods” Explained

Perhaps you have read it somewhere already but you haven’t taken the time to clarify what “local payment methods” means. It’s not much of a mystery. The word “local” determines this group of banking options. When a method is defined by this term, it means that it is exclusively targeting a specific country or region.

There are numerous banking options designed to cater to residents of certain countries. They offer services tailored to their needs. One could even say that the banking experience becomes personalized and optimized. Think about it. Online casinos offer an abundance of deposit options (the good ones do), right? With a more targeted approach, players have a chance to maximize their potential through locally supported transfers.

In the casino world, you can go global or local. Casino sites open to certain markets want to appeal to players from these markets. They add alternative payment methods to make these players feel welcome and give them familiar banking services to work with. According to statistics, alternative payments account for more than 60% of all global transaction methods. Going global with credit cards and international e-wallets is still not bad, but this is a telltale sign of local payment systems taking over.

More appear each year, adding diversity to the deposit/withdrawal methods at cashiers. The best local payment methods are usually direct deposit methods that speed up the process of transferring funds from a bank account to the casino and back. This process has the most “obstacles” or protocols and details that slow down the transaction. With those issues addressed, the transfer time is cut short, without compromising the stability and security of the transfer.

Some of the examples of local banking services include Euteller (Finland), Giropay (Germany), EasyEFT (South Africa), iDEAL (Netherlands), BLIK (Poland), and Boleto Bancario (Brazil).

Local Currencies vs. World-Dominant Currencies

Most businesses, online casinos included, strive to expand to international markets. That’s why dominant currencies in casino transactions have long been globally-accepted currencies. You won’t have any trouble finding casinos online accepting deposits in USD EUR or GBP.

Before, foreign customers had no choice but to simply manage. Their choices were limited and they had to adapt. It was easy to do business in international currency since the foreign exchange process was time-consuming and complex. However, payment technologies are moving faster now than ever. Today, advances in technology make payments in local currency just as easy as receiving deposits in USD, for example. The payments data management and security issues have been resolved to the benefit of both casino operators and their clients.

Casinos don’t shy away from market differentiation and when you land on the deposit page, you will have a long list of accepted currencies and methods to choose from. Spot your local options and you have achieved a small victory already.

Playing Real Money Casino Games in Your Local Currency

How important is it to deposit, play and withdraw in your local currency? Casino Banking Methods believes it is tremendously important. For one, not playing in your local currency means you have to deal with conversion rates.

Exchange expenses are not something any casino player looks forward to. They are unstable and they can affect your capacity to sustain real money play. The money you pay on conversion rates could go to another bet on your favourite slot machine. In addition, you are rarely in control of the conversion process. The banks and the casino can often put their hands deep in your pockets. Luckily, selecting to deposit in your local currency automatically avoids unfavourable “surprise” exchange rates.

By eliminating the currency exchange process, the speed of payment increases. The financial transaction is more likely to be settled faster with fewer parties and fewer operations involved. Another thing to keep in mind is the convenience that comes with local currency casino deposits and withdrawals. Direct transfers without exchange make it easy to keep track of one’s spending. You know precisely how much money you are sending and receiving. There is no need to conduct calculations. Each deposit and withdrawal becomes easier to control and more transparent.

Concrete Benefits of Local Banking Methods

Nearly everything about using local banking systems is an advantage for a casino player that fits the profile. If you belong to a market where casinos offer trusted local methods, you get to use banking services fully tailored to your country. The chosen method will likely cooperate with your local banks and will give you all the familiarity and convenience you can imagine. Familiarity generates comfort. You will be comfortable, in control and motivated to make educated deposits and withdrawals.

Furthermore, a payment solution designed for your local market will likely offer customer support in your native language. English is a default with most casinos and most banking systems, but having access to native support representatives facilitates the communication and takes the pressure of you. What else? Let’s not forget that local payment methods and local currencies go hand in hand. Aside from the familiarity with how the method works, you get to set up the transaction process in local money, without exchange costs.

Chances are you will be able to withdraw money from a local ATM after cashing out from a casino using a local payment service. This adds flexibility to your transactions. No need to worry about bank office hours when you can simply head to the nearest ATM.

Ultimately, the local payments provider you side with is often a local company you know and trust. Brands that have already proven to be reliable are excellent choices for casino-related transfers. Imagine already being a client, enjoying non-gambling online purchases, and finding out that your preferred method of payment is casino-friendly. The widespread use just became wider.

Let’s summarize. The advantages of using local casino deposit and withdrawal methods are:

  • Banking services fully tailored to your country
  • Bypassing holdbacks and making directs payments
  • Familiarity, convenience and comfort
  • Customer support in your native language
  • Transactions in local currency enabled, no conversion fees
  • Ability to use ATMs for cashing out
  • Reliable, trusted companies readily operating in your market
  • Being casino-friendly doesn’t exclude non-gambling online purchases

Best Local Options Based on Your Location

Not quite sure how to find the top payment methods accepted at online casinos in your country? If it seems like a bother, let CBM give you a helping hand. We don’t expect you to know everything and be instantly prepared – we will work on it together. Take a look at our list of the best banking options for each of the countries shown below. It should give you a clear, easy start to your real money gambling adventure – local style.

If you want to know more about each of these payment methods or view the highest rated ones, simply visit our main Banking page, select your country and proceed to reading our in-depth reviews. Bear in mind that local banking options will appear at the top of the list even if they are not among the highest rated ones.

  • Australia: POLi, MiFinity
  • Austria: EPS, Giropay, Sofort, CashtoCode
  • Brazil: Boleto, PicPay, INOVAPAY, AstroPay
  • Canada: Interac, iDebit, INSTADEBIT
  • Denmark: MobilePay, Dankort
  • Finland: Euteller, Nordea, Zimpler, Siru Mobile
  • Germany: Sofort, Giropay
  • India: PayTM, ECOBANQ
  • Ireland: Boku, Payforit, Monzo
  • Italy: PostePay, CartaSi, OnShop, SnaiPay
  • Japan: JCB, Venus Point, iWallet
  • Netherlands: iDEAL
  • New Zealand: POLi, PurplePay
  • Norway: No notable local options
  • Poland: BLIK, Przelewy24, DotPay
  • South Africa: EasyEFT, SID Instant EFT
  • Spain: No notable local options
  • Sweden: Swish, Nordea, Trustly, Zimpler
  • UK: Boku, Payforit
  • USA: Western Union, MoneyGram, AMEX, Discover

Summary

Local payment methods supported at casinos online deserve special attention. At the end of the day, it is your decision alone which method you prefer to use and why. However, it is our motive to make sure that you are well-informed about all the options at your disposal. Local ones are easily approachable and come with so many significant benefits. Don’t ignore them – embrace them. It won’t be long until you see improvement in your balance status and your overall casino banking experience.

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