Choosing the right casino payment method can elevate your gambling experience. But, choose one that’s not a good fit for you, and you’ll have more trouble extracting your winnings than it’s worth.
With payment options rapidly increasing and casinos offering more and more appealing choices, it truly is a jungle out there. Not all funding solutions are created equal, some come with speedy processing time, some with supreme security and some with incognito mode. So, ultimately, it’s important to get it right and choose not to select the most popular option but the one that’s most convenient for you.
Not sure which one to choose? This in-depth casino method payment guide will take you through all the casino banking basics. Here, you’ll find out the pros and cons of the most mainstream and the newest banking options and what to look out for when choosing them.
Find the Best Casino Payment Method for You at JohnSlots!
Keep on reading to find out everything you need to know about:
- A Comparison of Online Casino Payment Methods
- Online Casino Deposit Methods
- Online Casino Withdrawal Methods
- How to Choose the Best Casino Payment Method
- Summary
- FAQs
A Comparison of Online Casino Payment Methods
Our team has been busy evaluating and comparing the most used payment methods so you can make an informed decision of what suits your gaming style and budget.
These are the main criteria our team use when comparing some of the most prominent payment methods:
- Ease of use,
- Availability,
- Processing times,
- Transaction fees,
- Bonus friendly?
To help you choose the best casino payment method for you, follow the comparison table below where you can see the pros and cons of the most popular banking options:
| PAYMENT METHOD | PROS | CONS |
|---|---|---|
| Debit Cards | Accepted at most online casinos. Super-secure payments. | Depending on the bank, fees may apply. Slow withdrawal speed. |
| Prepaid Cards | Easy to obtain and use. Safe and anonymous payments. | Various fees may apply. Withdrawals via this payment method are currently unavailable. |
| E-Wallets | Instant deposits and withdrawals, depending on the casino. Widely supported casino payment option. | Deposits made via e-wallets may not be eligible for welcome bonuses. |
| Mobile Apps | Convenient and user-friendly. | Difficult withdrawals. Low daily depositing limits. |
| Pay by Phone | Convenient for mobile casino players. Anonymous casino payment option. | Difficult withdrawals. Low daily depositing limits. |
| Bank Transfers | Available at the majority of online casinos. One of the safest payment options. | Slow processing times for both deposits and withdrawals. Fees may apply depending on the bank and casino. |
Debit Cards
Debit cards are useful to make payments. Payment methods including Visa Debit, Visa Electron, Mastercard Debit and Maestro are connected to your bank, making them ultra-secure. And that’s one of the main reasons why these cards can be used at nearly every, if not all, UK online casinos.
Debit Cards – Debit cards such as Visa and Mastercard are the two most popular bank card payment methods that allow you to fund your account hassle-free at the majority of online gambling sites. As one of the most trustworthy payment methods, you’ll find this banking option available at virtually all online casinos. Deposits with debit cards are instant at most gambling sites allowing you to play within minutes.
Credit Cards – As of 14th April 2020, you will no longer be able to use your credit card to fund your online casino account. The ban enforced by the UK Gambling Commission acts as a means to promote safer gambling and protect more vulnerable players. The good news is you’ll still be able to deposit with your debit card.
Prepaid cards
For players anxious about sharing their sensitive financial information, prepaid cards can come in handy when it comes to depositing cash. Some of the most widely-used prepaid cards among UK players include Paysafecard and EcoCard by EcoPayz.
Paysafecard – Among the above-mentioned prepaid cards, Paysafecard is the most popular and is widely supported. It’s user-friendly, easy to obtain and even easier to use through a PIN coded voucher that you can buy with cash at many prominent retailers in the country and top it up whenever needed.
Paysafecard might not be the most convenient online casino payment method, but it offers both security and anonymity. There are no fees on deposits which are also instant most of the time. Plus, most sites support this banking solution.
EcoPayz – EcoPayz is another great option for players wanting to use a prepaid card at an online casino. Just like Paysafecard, EcoPayz is an e-wallet offering an instant, reliable, secure and anonymous way to fund your account. And it’s accepted at the majority of online casinos in the UK. You can either get a physical card sent to you via post or apply for a virtual one by registering with the provider.
E-Wallets
Under new regulations from the Gambling Commission, UK-licensed casinos will not be able to accept e-wallet payments, from April 14th 2020 onwards, where funds have been deposited using a credit card. This restriction does not apply to funds deposited via debit card or bank transfer.
Unlike prepaid disposable cards, e-wallets are safe and secure digital wallets linked to your bank account. The biggest advantage of using e-wallets when funding your online casino account is the swift payment processing speed for both deposits and withdrawals. Other advantages include convenience and ease of setting it up, security, and the privacy of your personal and financial data.
The one inconvenience that you’ll almost always incur when depositing with Skrill and Neteller is missing out on welcome bonuses for new players.
E-wallets pose a much higher risk of money laundering than other payment methods. On the radar of the UKGC as an unpopular banking option, in the future, it could cease to exist altogether as an online casino payment method in the UK.
Neteller – Trusted by millions of online casino players, Neteller is perhaps one of the best-known e-wallets in the gaming industry. It allows you to make fast and secure payments online and play without any delays. Neteller casino deposits are almost always instant and withdrawals don’t take long either.
Skrill – Skrill or Moneybookers is another popular choice among casino players. Just like Neteller, all your online transactions made via Skrill are safe, confidential, and take seconds to complete.
PayPal – Considered to be one of world’s most secure online payment platforms, PayPal is also fast becoming one of the most used online banking solutions in the UK. Fully licensed and with advanced data encryption, PayPal is used as a banking option at many top gaming sites and new online casinos alike. The greatest advantage of using PayPal as your preferred payment method is that it offers fast deposits as well as quick and secure withdrawals.
Mobile Apps
Mobile gaming is on the rise giving casino players the ability to play their favourite casino games on the move at mobile casinos. With this comes the need for mobile apps that can act as effective and trustworthy digital payment options. Luckily, two mobile apps can offer both:
Boku – Depositing with Boku is fast, secure, convenient and incognito. With Boku, you are always just one tap away from playing your favourite games.
The way it works is that you deposit via your phone number and then get charged whenever your bill is due if you are on a contract. If you’re using pay as you go, your deposit will be deducted from your existing balance.
Boku works on any mobile device including tablets and offers a player-friendly mobile app. However, while depositing via Boku is fast and easy, you won’t be able to withdraw your winnings using this payment method. Another downside is the low deposit limit.
Revolut – Offering convenience to online casino players alongside its many other perks, Revolut has already made a name for itself in the UK and around the globe.
Working closely with Visa and Mastercard, Revolut is seen as a trustworthy banking option and therefore available at many new and established online casinos. As long as you have one of these bank cards, you too will be able to open a Revolut account and fund your new casino account without any major hiccups.
All you have to do is download the Revolut mobile app, set it up, link it to your player account and start depositing. Unlike traditional bank cards, withdrawals are much faster with Revolut and can take minutes depending on the casino you are playing at.
Pay by Phone
Perhaps not the most used banking method yet, the pay by phone option is steadily increasing in popularity among UK players. Convenience and growth in mobile gaming are just two factors that make this payment method appealing.
Apart from Boku, other convenient pay by phone funding options supported by the top UK online casinos include Payforit and Apple Pay. In most cases, you can make instant deposits using your mobile phone number without having to disclose your card details.
The way it works is identical to using mobile apps as payment methods at the pay by phone casinos – play now, pay with your next phone bill if you are on a contract. Otherwise, top up your pay as you go balance and you’re good to go.
Bank transfers
Bank transfer, just like bank cards, is one of the most convenient ways to deposit your cash into your online casino account. It’s one of the most secure and trusted payment methods that you’ll find available at pretty much every online betting site. Here are the two most popular solutions in the UK:
Wire Transfer – Wire Transfer, aka Bank Transfer, is ideal for players who don’t mind waiting several days for their funds to be credited to their account or worry about their online transaction safety. It’s protected by the powerful security systems that your bank has in place.
Depositing via Wire Transfer is the simplest way to fund your online casino account. Although, due to the slow processing speed, this option isn’t the most popular among online casino players. At many respectable UK casino sites, deposits made via this payment can be instant, but withdrawals may take up to 10 days due to security checks carried out by your bank.
Trustly – Trustly is another trustworthy payment method and supports all the major banks in the UK including HSBC, NatWest, TSB, and Halifax among others.
With Trustly, you no longer need to worry about bank cards or sharing sensitive information with casinos. It’s a modern banking solution that makes payments to your casino account directly from your bank and vice versa and is accepted at many licensed UK online casinos.
Among the many perks of playing at casinos supporting Trustly, you can also enjoy instant deposits and withdrawals, providing a casino you are playing at offers speedy transactions.
Online Casino Deposit Methods
One of the biggest advantages of joining a new site is the Welcome Bonus waiting for you! In some cases, you’ll get a no deposit bonus, meaning that you do not need to deposit to claim the free spins or cash.
But more often than not, to be eligible for your inviting welcome package and to play for real money, you’re required to deposit the minimum amount. Topping up your new account is easy. Here’s what you need to do:
- Register with the casino,
- Go to the cashier,
- Choose your preferred payment method from the list provided by the casino,
- Enter the relevant details required for the payment method,
- Enter the amount you wish to deposit,
- Claim your bonuses and start playing!
The payment methods vary greatly from casino to casino, but most of the time they include the most popular options. If you want to find out which deposit methods a casino accepts before you sign up, you can read the casino review right here at JohnSlots!
Online Casino Withdrawal Methods
Withdrawing your winnings is as easy as depositing, but the processing times can vary depending on your chosen payment method. Each casino also sets its own rules and timeframes. Bank cards and bank transfers, for example, can take longer for your winnings to be processed compared to e-wallets. Depending on the casino, withdrawals via e-wallets, such as Neteller, Skrill and PayPal can be instant. Bank cards can take from 1-3 or more days and bank transfer can take from 3-5 days or even longer to be processed.
As a general rule, you’ll have to withdraw via the same method you’ve chosen to deposit with. However, remember that some payment methods, such as pay by phone or prepaid cards, (although available for depositing) do not support withdrawals.
Other things to consider when withdrawing your cash are the bonus wagering requirements, time constraints, max withdrawal amounts, security checks and other limitations.
How to Choose the Best Casino Payment Method for You
Considering the number of banking options available, choosing the best casino payment method for you could be a minefield. There is no definite answer to which option is the best, but here are a few pointers to help you choose what’s right for you:
- Advantages and disadvantages: Look at the pros and cons of each payment method to decide which option works best for you.
- Payouts: Be sure to check if you can withdraw via your chosen payment method.
- Extra fees: Check if there are any card issuing or maintenance fees involved.
- Bonuses and VIP schemes: Payment providers sometimes offer various perks for joining them, but check all the terms and conditions before signing up.
- Security: Check the security standards and licences to choose the most secure option for you.
- Anonymity: Do you worry about exposing your sensitive financial information on the internet? If yes, then you should choose disposable prepaid cards or mobile apps.
- Transaction speed: The speed can vary between payment methods.
- Deposit amounts: Are you planning on playing with big amounts of cash? In this case, you should consider using bank cards for ultimate security and higher limits.
- Convenience: Weigh the pros and cons of how convenient one or another payment is for you. Do you really need to sign up with yet another payment provider to play at an online casino?
Summary
Although the information on this page depicts many different aspects of how to choose between the top payment options, it all boils down to your preference. To make the best decision, you need to determine what matters to you most. Is it the speed, the security or the anonymity?
Our best advice is to study the pros and cons and then compare the options available at your favourite online casino.
Learn More About Casino Payment Methods (FAQs)
What is the safest payment method?
All methods supported by the licensed UK casinos are safe to an extent. Some of the safest options are considered to be debit cards and bank transfers since they are connected directly to your bank. This means that your funds are protected by the highest security measures used by the bank itself.
Which payment methods are the fastest?
E-wallets, such as Neteller, Skrill and PayPal, are considered to be the fastest casino payment methods. However, funding casino accounts with e-wallets can often deprive new players of welcome bonuses.
Do I need a debit card to be able to deposit at an online casino?
No. There are other payment methods available including mobile apps and prepaid cards that do not require you to have a debit card. Note: from 14th April 2020 onwards, you will no longer be able to deposit or withdraw with a credit card at any UK online casino.
Why can’t I withdraw my money?
If you can’t withdraw your money, it can mean that your account hasn’t been verified, the amount you are trying to cash out exceeds the withdrawal limit or there’s an active bonus amount that still needs to be wagered. Also, check that all the information you provided, especially your financial details, are accurate.
I deposited but I can’t see the money – what should I do?
If you can’t see your deposited money, first check if the amount has been deducted from your bank balance. If that’s the case, contact the casino’s customer support team and they will be able to assist you.
Can I use somebody else’s card or account for deposits and withdrawals?
As is stated in casino terms and conditions, it’s not recommended to use a card or account other than your own. It indicates suspicious activity and may result in your withdrawals being denied by the casino.
Why can’t I withdraw with all the same payment methods that are available for deposits?
Each casino has different policies in place to protect your cash. Therefore, not all payment methods support withdrawals. These include pay by phone and prepaid card options that can be subject to money-laundering risks.
Why do online casinos offer different payment methods for different countries?
That’s because some of the payment methods, issued in specific countries, only support specific currencies.
How do I know which payment methods are available to me?
To find out which payment methods are available to you, check the casino’s dedicated banking section. If you can’t find it on the website, check the FAQs or the terms and conditions page or chat with the customer support team.
Also, once you create an account, you should be able to see the payment options available to you in your profile’s cashier section.
Can I use bitcoin and other cryptocurrencies at UK casinos?
Yes, there are quite a few online casinos that support Bitcoin as one of the payment methods.
Do I have to use the same payment method to make deposits and withdrawals?
No, you don’t have to, although it depends on the casino. But for the ease of cashing out your winnings, you should choose a payment method that supports both deposits and withdrawals.
How long do I have to wait for my winnings?
The processing time depends on the casino and your preferred payment method. Credit/debit card withdrawals can take 1-3 days to process while bank transfers can take 3-5 days. Withdrawing via e-wallets can be instant at the best-rated online casinos but it can also take up to 3 days or longer.
Are payment fees charged by the casino or by the payment provider?
It can be both. Although most reputable casinos will not charge you to make deposits and withdrawals, you might still incur fees from your bank or payment provider.
