Payment June 1, 2020
Casino payment methods are one of the most critical issues to consider when finding excellent iGaming websites. Everyone wants to know how they can deposit and withdraw money. They want to learn about fees, limits, and policies to expect.
Fortunately, online casinos understand the importance of supporting multiple banking options. They know the only way to stay ahead of the competition is to provide low fees and friendly policies for players.
That said, online casino payment methods aren’t created equal. Some give you better value for your deposits than others. Some are faster, simpler to use, and more available at online casinos than their counterparts.
This guide aims to simplify the process of finding casino banking methods for you. It explores the best options, their fees, popularity, and reputations.
You know what they say about Visa. It’s everywhere you want to be. That includes 99% of online casinos. They accept it both as a credit and debit card. What’s more, they have low minimums up to £5000 daily deposits, however, just like Mastercard, the UKGC banned the use of credit cards including visa credit on the 14th April 2020 for UK customers.
MasterCard’s tagline is “priceless,” probably because of all of the convenience it gives you. However, on the 14th April 2020 the UK government banned online gambling firms from permitting or accepting credit cards from customers placing bets.
PayPal is the most famous e-wallet in the world. But for several reasons, it’s not offered at all gambling websites in the UK. First off, some platforms consider its fees a tad high. Then it can be overly harsh when it suspects suspicious transactions. Nonetheless, you can use it to deposit at over 100 UK casinos.
Launched as a payment method for gamblers, no one is surprised Skrill is one of the most popular e-wallets for casino deposit methods. It’s free to join, simple to use, and has exceedingly low fees. Unfortunately, some casinos won’t give you a welcome bonus if you use Skrill for deposits.
Neteller works similarly to Skrill. It’s fast and straightforward to use. Most online casinos accept it as a deposit option. However, they often refuse bonuses to people who use this payment method. The main reason behind this is because Neteller is a common target for casino bonus abusers.
Paysafe Card is a pretty unique company. Instead of linking your card to a bank account, it lets you purchase vouchers at physical retail stores. You then receive codes you can redeem for casino deposits and other transactions.
It’s cheap, it’s supported by most casinos, and it’s probably your best option for withdrawals. Unfortunately, wire transfers take time to be processed. But other than its speed issues, it is an excellent option overall.
If you prefer Maestro to Visa and MasterCard, you have nothing to worry about. It’s a safe and widely accepted credit or debit deposit option. It comes with little or no fees and can also be used for withdrawals.
EcoPayz is a fast-growing e-wallet originally launched for sending and receiving money from friends and families. Now you can also use it for casino deposits fast and free. What’s more, you can link it to your mobile number for ease of mobile payments.
Bitcoin, Ethereum, Litecoin, Dogecoin, and all other cryptos are now valid deposit methods at hundreds of casinos in the UK. So, if you know some with extremely low fees, consider using them for your next top-up.
Boku is a popular mobile banking app that accepts deposits to online casinos. You can use it through a mobile browser or install its app. Creating an account is free, and transactions are super-fast.
Trustly is yet another e-wallet that’s supported by hundreds of online casinos for both deposits and withdrawals. It works nearly the same as most of its competitors. However, it has considerably lower fees and more favourable limits.
InstaDebit is a Canada-based payment provider that allows you to send and receive from your bank account easily. All you need is to select InstaDebit at your favourite casino and decide how much you want to deposit.
In many casinos, you are required to withdraw money using the same option you used for deposits. That means the companies we mentioned above are what you use for your withdrawals.
Many casino banking methods allow you to send and receive as little as ten cents. On the flip side, you can deposit as much as £5000 for e-wallets and up to £100,000 for wire transfers.
Despite that, casinos decide on the minimum and maximum you can deposit based on various factors. At most websites, £10 is the minimum you can deposit. On the other hand, they might let you deposit as much as your payment provider accepts.
Of course, casinos are required by law to limit players’ maximum deposits. However, they have higher limits for VIP customers.
That said, limits aren’t the only features to consider when choosing a banking provider. Consider a company’s deposit and withdrawal fees. Choose an app with zero deposits and also find casinos with little withdrawal fees.
Although many payment options are allowed in the UK, credit cards are no longer welcome for casino payments. Lotteries used for charities are the only exception. Every other gambling operator in Britain is expected to reject deposits and withdrawals using credit cards of all kinds.
The UK’s explanation for banning credit cards is to reduce the number of problem gamblers in the region. The decision was made after a scathing report, but the Gambling Commission showing 22% of all casino credit card users were addicted to iGaming.
Of course, the UKGC holds the right to disallow any other payment method in the future. But presently, it allows enough banking options to help you deposit and withdrawal money from casinos conveniently.
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