MyPaylinQ is an e-wallet company that is popular among USA casino players. You won’t find MyPaylinQ casinos in the UK or Europe, but this deposit method is offered at certain US casinos. MyPaylinQ allows you to hold your funds online, deposit money to online casinos and withdraw money back to your bank account.
This deposit option works well for players that have had problems depositing with credit cards. Once you have a MyPaylinQ account, you can move your money to and from various gambling sites with ease. You do not have to worry about your credit card deposits being declined or waiting forever for withdrawals. The speed is a major advantage of MyPaylinQ.
How MyPaylinQ Works
MyPaylinQ is an e-wallet similar in nature to PayPal or Neteller. The first thing you do when you choose the MyPaylinQ deposit method is sign up for an account at MyPaylinQ. You can then fund that account with a credit card or instant bank transfer. After that, you’ll have a funded MyPaylinQ account ready to go.
Next, you return to the online casino of your choice. Download the software, create an account and log in. Visit the cashier’s area and choose the “MyPaylinQ” option. You will then be asked to fill in your MyPaylinQ account number and choose how much to deposit. Your casino account will be funded instantly.
After you are done gambling, you can withdraw your winnings back to your MyPaylinQ account. This is nice for USA players because you don’t have to wait for your casino to send you a check. After you receive your funds back into your MyPaylinQ account, you can then send that money on to a different casino or cash it back to your bank account.
One thing that I really like about MyPaylinQ is that the company guarantees to always keep enough cash on hand to cover all customer balances. MyPaylinQ does not loan your money out to other people or invest it in other places. This means that even if every single customer decided to withdraw at the same time, MyPaylinQ would be able to process all of those withdrawals.
MyPaylinQ is a little on the expensive side. If it wasn’t the only reliable e-wallet for USA players, I’d tell you to find someone else. Unfortunately, doing business in the US is expensive and MyPaylinQ passes those expenses on to its customers. But with the difficulty of depositing and withdrawing today, I think the convenience of MyPaylinQ makes up for the expense.
If you fund your MyPaylinQ account with a credit card, you’ll be dinged with a 6% fee. It costs nothing to deposit at the casino, but you do pay the fee when you first fund your MyPaylinQ account. When you’re ready to withdraw from MyPaylinQ back to your account, you can choose between wire transfer, cash transfer and money order.
Wire transfers cost $45 but they are well worth it if you have a large withdrawal. The money is sent directly to your bank account in a matter of days. This is the safest and most reliable withdrawal method. Cash transfers cost $25 and money orders cost $5.