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Jan
11th

New Deposit Options for American Players

Since 2006 some Americans who play american online bingo games have had difficulties funding their accounts and withdrawing winnings. Federal law prohibits credit card companies, banks and other financial institutions from processing any transactions related to ‘gambling.’ The rules have caused some confusion and credit card companies have rejected lottery related transactions which are perfectly legal. Since the original legislation was passed several online payment processors have left the US market for fear of prosecution. Those fears were well founded as Neteller executives found out the hard way. The arrest of Neteller executives prompted payment processors to flee from US markets. Many players had their funds frozen for months.

PayPal provides European internet bingo players with a very reliable payment processor but unfortunately bans US players from using their services for internet bingo transactions. American players can set up offshore accounts to play internet bingo but doing so involves a lot of paperwork and possible travel and for players who do not spend a lot of money playing internet bingo this option is not practical.

Third party payment processors were the first choice for most people that play internet bingo. American players lost yet another option with the abrupt withdrawal of eWalletXpress from the American market. For some reason there has not been a lot of press coverage of this event. Some internet bingo and gaming sites have implemented new options for American players and these can usually be found on the home page of the sites. Two popular options have emerged IPoint and Cashgrade. IPoint allows credit card transactions to be processed through the player’s cell phone and usually funds are available in 10 minutes.

Cashgrade is an e-check and wire transfer service. Many new startup payment processors have emerged to fill the gap left by the loss of PayPal and eWalletXpress in the US. Money Line Wallet is a new processor that enables internet bingo players to transfer funds from their personal bank accounts and they guarantee safe and secure transactions. Money transfers are still a good option but take more time and may be inconvenient for players who need to fund their account quickly.

As can be seen there are still many reliable ways American internet bingo players can fund their accounts.  Bingo providers have recognized just how lucrative the American internet bingo market is and are doing everything possible to make the transfer of funds easy, safe and secure.