Many online casinos now offer payment options of all kinds. However, the type of banking can make or break the gaming experience. For this reason, players strive to get the best payment service available and the casino that accepts it.
Having a fast and secure casino payment system is valued feature players look for in a website. Not only is security the highest priority, but convenience highly depends on your selected payment method. For instance, certain card services have a longer withdrawal time than others.
Here you will find an in-depth guide covering available online payment methods for UK gamblers. Each one has its advantages and disadvantages and what is mostly preferred by operators. Here are the payment methods accepted by the online gambling world, and which one would be the right one for you.
We’ve found e-Wallets (or digital wallets) are great for online gambling. When it comes to e-wallets, the card information is securely stored. It’s a straightforward method to spend money on the Internet without having to make multiple withdrawals from your bank account. E-Wallets are widely used in e-commerce as well as in the online gambling industry.
Another benefit is quicker processing periods. It can take 1 to 5 business days to withdraw via card, whereas e-wallets transactions are almost immediate.
Using Credit Cards for Online Casino Payments
In January 2020, the UK Gambling Commission announced that the UK Betting, Casino and Gaming operators are no longer permitted to accept credit cards. This means that UK players will need to use other indirect payment methods for their deposits and withdrawals.
Starting on the 14th of April, operators licensed by the UK Gambling Commission will no longer allow players to deposit funds via credit cards. Customers can still use debit cards, but processing fees vary.
Prepaid cards are practically the same as debit cards, except you must top it up with cash before you spend. This is a popular method because it allows the player to control their spending and stay within their budget.
An e-Cheque is similar to traditional paper cheque. The account holder writes and signs an e-Cheque on an electronic device. Then it is sent to the payee to be endorsed.
Compared to many payment options, e-Cheques offer a fast and secure alternative. Payments made by e-Cheque also generally have lower processing fees than credit card payments, making them a desirable banking method when it comes to paying large bills.
Bank Wire Transfer
A wire transfer is the electronic version of a money transfer. The original wire transfer moves money from one bank or credit union to another. The same goes for online casinos; bank wire transfers are one of the most consistently available means of transfer for both payments and withdrawals.
Instant banking is a fast, secure and simple solution to process payments on the internet from online banks. It acts as a third party that transfers and guards your funds as you shift it from your personal banking account to your casino cashier. Instant banking keeps your financial information safe and separate from your gaming funds.
Safe and Secure Casino Payment Methods
The secret to having the best experience playing with real money is to find a payment method that you know and trust. That shouldn’t be an issue since there are so many options available. If you are new to the casino industry, look for feedback from other players as well as your personal preference.
However, don’t let safety be the only feature that influences your decision when choosing a secure casino payment method. The ideal method should be easy to use, fast and reliable. Otherwise, it will ruin your gaming experience.