Banding/elastication is quite safe, but it will be quite painful, at least for the first little while. You have to be sure that the band is tight though. If you've ever seen an elasticator band, you'll know that they are very tight.
You do need to decide, however, if you want to keep your sac and/or penis intact.
If you want to lose one or both altogether, banding or cutting are both very effective. However, if you want to keep your sac, then you have the choice of cutting or burdizzo. Both can allow you to keep your sac. Burdizzo will not work for removing the penis or sac. It only works for destroying the testicles. There is also the possibility of chemical castration as well. You can inject different fluids into the testicles and achieve the same results as burdizzoing.
You also need to think about the overall amount of pain you want to endure, as some will most certainly be more painful, for longer periods, than others.