With so many different payment methods out there it can be difficult to know which one offers the best option for a new online casino player. On this page we are going to take a look at some of the alternative payment methods commonly offered by online casinos and try to help to find the perfect match for your needs. Online gambling has never been more popular across the world, with the UK in particular seeing a massive boom in online casino play as a great way to have fun and maybe earn a little money at the same time.
Naturally before you open an online casino account, it is very important to make sure that you will be able to both fund your account and withdraw your winnings. As such, it’s worth taking a little time to look at some of the different funding methods out there to see which one is going to meet your needs. If speed is of paramount importance to you, then an e-wallet like Skrill, PayPal or Neteller may be the answer. These electronic wallets offer instant deposits and withdrawals back to your online wallet in less than 24 hours. Fees for these e-wallets are not overly expensive, although Skrill and PayPal tend to be the cheaper options, and they are becoming increasingly popular in the UK.
Traditional banking methods are still the most popular option for deposits and withdrawals, with debit/credit cards most people’s first choice. Offering instant deposits and withdrawals back to your bank in a few days, and with low fees an added bonus, cards remain very popular although people can tend to forget that those credit card bills come with hefty interest payments. Prepaid virtual cards are a good way to get around country funding restrictions if you don’t mind the extra fees. Bank transfers are the slowest method around and can come with heavy charges, while an option like Western Union is too restrictive and expensive to suit most people. Easy and cheap options like phone bill payments are growing in popularity these days, although are not commonly offered outside of Europe for casino players.
Credit and debit cards are generally the first option most people think of when it comes to funding online casino accounts, and is still the number one payment option in the UK. After all, most of us own at least one or two of these plastic cards and have become accustomed to paying for a variety of goods and services online with our flexible friends. However, when it comes to using cards to fund your online gaming account there are a couple of very important factors which need to be taken into consideration. On the positive side of the equation, debit and credit cards are an easy and secure method to make instant deposits to your gaming account, and withdrawals are generally processed within 1 to 3 banking days. Most online casinos will not charge any fees for either deposits or withdrawals by this method, although you may need to check to see if your bank will deduct a small fee for processing these transactions. Another factor to consider is that obviously if you are using a credit card, you are effectively playing with borrowed money which will need to be returned to the lender (plus interest) at some stage.
The major disadvantage when it comes to credit cards is that there are a number of restrictions in place depending on the card type and your country of residence. While Visa cards are an easy option when it comes to depositing and withdrawing from online casinos, Mastercard will not allow withdrawals from gambling sites back to their cards unless you happen to live in the UK and Ireland. That means that if you deposit by Mastercard you must withdraw via bank transfer in most cases. Meanwhile a brand like American Express simply does not permit any transactions to or from gambling companies, so this is just not an option. There are also further restrictions which can be imposed by individual countries, meaning that residents of the United States, Canada and India (to name just three) may have difficulties when it comes to trying to use debit/credit cards to fund their online casino accounts. A way around this is to use a virtual credit card provider such as Entropay, which uses the Visa network but avoids all of those restrictions. However, as with anything that sounds too good to be true, if you are using Entropay you can expect fees of between 3.95% and 4.95% to load your virtual card, and further withdrawal fees from the casino of 1.95% the amount being paid out.
The restrictions imposed on credit and debit cards go some way to explaining why more and more online casino players in territories like the UK are using electronic wallets to make payments to their gaming accounts. PayPal has led the way for many years, and has helped to make the use of online payment wallets become normalised and seen as a more secure way of making transactions online. E-wallets like PayPal, Neteller and Skrill are the primary electronic wallets available today with most online casinos, and all of these offer instant deposits and withdrawals in less than 24 hours (sometimes as fast as between 1-4 hours for PayPal and Neteller at selected casinos). Deposits and withdrawals to and from your online casinos are free when using these payment methods, and more people are waking up to the fact that this is a perfectly secure and simple way to transfer money online. You won’t find PayPal available as a payment method for residents of most countries except for the UK, but Neteller and Skrill are widely available. If you are a UK resident then PayPal is a cheap and easy way to make deposits and withdrawals, and there are many online gamblers living in other countries who would love the opportunity to use PayPal to fund their accounts. The disadvantage of using e-wallets to fund your gaming account is that it will often cost you fees to fund your electronic wallet in the first place, and also to withdraw from there to your local bank. Funding your Skrill account using a debit/credit card will cost you about 1.9% which is cheaper than rival e-wallets, with both Neteller and Skrill liable to cost about 1.75% for withdrawals. Minimum deposits to casinos using e-wallets vary from country to country and from one casino to the next, but are generally between $5-$20 and withdrawals at the same level. Although the electronic wallets mentioned above are definitely the most popular in markets such as the UK, there are other options in certain casinos such as Citadel, Nordea, ecoPayz and Webmoney.
For those people who are not so comfortable with the idea of electronic wallets, most casinos will still offer the option of bank wire transfers. There are various different bank transfer options out there – depending on your country of residence – including POLi, Sofort, Trustly and Trustpay, to name a few. While this payment option has the advantage of simplicity and security, the disadvantages tend to outweigh the plus factors for most people. For one thing you can expect delays of between one and five days before your deposit is processed, and from 1 to 10 working days until withdrawals hit your bank account, so this kind of waiting time is too long for a lot of gamblers. Plus you will be hit with pretty hefty fees both ways, although the amounts can vary greatly depending on the casino and on your bank. Deposits and withdrawals usually have a minimum of $25, although if you are moving 5 figure sums of money around then bank transfers are probably your best option.
Some casinos offer Western Union as a payment method although you can expect to pay high fees and endure a waiting time for deposits and withdrawals with this option. Believe it or not there are plenty of online casinos which still allow cheque payments and withdrawals too, although this is one method that’s likely to become extinct in the next few years.
We mentioned Entropay in the first section of this article, but other prepaid card systems include the increasingly popular Paysafecard as well as Postepay and Neosurf. It just depends whether you can find an outlet selling Paysafecard or its competitors in your locale, and whether you are willing to pay the monthly fees for a subscription. There are also limits on your deposits depending on your degree of verification with Paysafecard. Many UK casinos now offer payments from your mobile phone, which is a quick and easy way to make small deposits, although not one for the big time players.
MOBILE SMS FUNDING
As an increasing amount of UK players do their online casino play via smartphones, it makes sense for many to have access to direct SMS funding to keep their online account topped up. Deposit methods such Boku allows British players to instantly fund their mobile betting accounts in a couple of clicks. You can deposit between £10 and £30 per day, so it’s not an option for high-rollers, but it’s a handy way to keep your account topped up without worrying about fees. As smartphone use becomes the primary option for casino play online you can expect this method to become a standard option for UK-facing online casinos.
With all of those options out there, it is important to select a payment method that suits your needs and your bank balance. Decide whether your priority is processing speed, deposit size, fees or ease of access, and make your choice accordingly. We have provided more information on the payment methods listed here – and more – in a series of in-depth articles you can access by clicking the links next to the payment method listed below.
Neteller is a popular online payment service used for depositing and withdrawing money to and from online casinos. Owned by the British company Paysafe Group Plc, the popular fund transfer service is an e-wallet and not a bank, therefore they are required by law to keep all customer’s money in separate trust accounts. There are 40 payment methods to add funds to a Neteller account making it one of the easiest ways to make a deposit on an online casino. Find out more about Neteller.
PayPal is arguably the most popular online payment service in the world. Unsurprisingly, it is accepted at some very popular online casinos. The American payment service supports instant money transfers between PayPal accounts. You can also link your bank account or card to a PayPal account allowing you to instantly pay for services, or deposit money to your favourite online casino instantly and directly from your bank account. PayPal is one of the securest online payment methods out there, adding a safety net between your funds and the sometimes-questionable reputation of the online casino industry. Find out more about PayPal.
MasterCard Incorporated offers a range of financial services that power over 721 million credit and debit cards. It is one of the most popular payment methods in the world, and because of this it is accepted at just about every online casino. Players trust MasterCard. It is an established institution in the world of finance, with billions of dollars behind it, as well as being a secure and convenient way to fund a bankroll. You don’t need to bother with any third-party payment solutions or create an account to use MasterCard. Simply reach for the plastic in your pocket and you will be playing games in no time. Find out more about MasterCard.
Visa – you may have heard of it – it is a multinational financial service that processes over 100 billion transactions a year. Accepted at nearly every online casino and everywhere else on the planet it is a no brainer, and a favourite method for funding bank rolls. Visa doesn’t require players to create an account or use a third-party payment software. All it takes is the plastic they already carry in their pocket and a few minutes to enter some details. Chances are, you are already using it. Find out more about Visa.
Paysafe Card is part of the LSE listed Paysafe Group Plc. which also owns the Neteller and Skrill payment services. Paysafecard was founded in 2000 and has its headquarters in Vienna, Austria and it started by selling pre paid vouchers to facilitate online payments and purchases. Since then, the company has evolved to offer a wide range of payment solutions like the Pre-paid MasterCard and Scan2Pay. Nevertheless their main product remains the 16-digit pin voucher which in some countries is synonym with online payments. Find out more about Paysafe Card.
POLi Payments is a favourite among Australian and New Zealand based online casinos and players. The service is owned by Australia post, and it allows for instant transactions between local banks and an online casino that supports the payment method. The best thing about POLi is that it is entirely free. You also don’t need to mess around with entering you credit card details into forms. POLi uses your online banking credentials to send money directly from your bank account. This keeps you details safe and makes it much easier to send money. Find out more about POLi Payments.
Trustly is a payment service that originated in Stockholm, Sweden which supports instant transfers directly from bank accounts. Very popular for online casinos in Europe, the service accepts payments from over 100 different banks in 29 different countries. It is possible to use the service from a bank that they don’t have partnership with, but you will need to pay a fee, and the transaction won’t be instant. Trustly allows you to make instant deposits directly from a bank account without verifying a credit card, and most online casinos will also allow you to use Trustly make withdrawals. This service takes care of all payments to and from your casino of choice. Find out more about Trustly.
There is a lot of talk of Apple Pay coming to online casinos, and what it would look like. The service allows people to use their phone as a debit/ credit card. With the ever-increasing number of players using their phones to play on mobile casinos this could be a real game changer. It has all the characteristics we look for in a great payment method. There are no fees, instant transfer, and you don’t have to give the merchant your banking details. Apple Pay would be perfect for online casinos and with the service rolling out around the world it is only a matter of time. Find out more about Apple Pay.
Bank transfers are one of the oldest ways of sending money over long distances. They must get the job done because we still use them today. Most online casinos will accept a bank transfer as a deposit and withdrawal method, and they are a favourite among players looking to fund their bankrolls. The security, dependability, and familiarity of this payment method are its most sort after traits. It lets players send money without creating a new account. Instead the funds are processed by reputable financial institutions with all kinds of safety measures in place if something goes wrong. Find out more about Bank Transfer.
Based in Horsham, England, EcoPayz was founded in 2000. This payment method is now more than 6 years old but it is still not that popular for funding online casinos. This is surprising because the service really has a lot to offer. Although supporting over 45 currencies, it is most popular in Europe. The ecoCard makes this a great payment service, not just for funding online casinos but to use in your day to day. Instant transfers, currency exchange, and the reputation of this brand are all the things players are looking for when deciding how to fund their bankrolls. Find out more about EcoPayz.
EntroPay offers a virtual debit card that is being used by online casino players to top up their bankrolls. There are a number of advantages to this service. You can transact with an online casino without entering your sensitive banking information, and it can instantly transfer money. The biggest drawback to this platform are the hefty fees, but you get what you pay for with this great service. It can be used anywhere that accepts credit cards, and for that piece of mind a lot of players will happily pay them. Find out more about EntroPay.
iDeal is a fantastic payment method that, in the past, has only be available Dutch players. It is now beginning to accept and process payments from other European countries, and it is sure to receive the same warm welcome it was treated to in the Netherlands. iDEAL has no transaction fees for their instant payments made using some of the most trusted banking institutions in the world. You see, iDEAL is not a payment service. It is more a set of protocols maintained by Currence; an association of Dutch banks. If you can use this payment method, do so. It is a great way to send money with a lot of pros and very few cons. Find out more about iDeal.
Maestro is a debit card owned by MasterCard that is great for funding online casinos. It accommodates instant transfers and offers lower fees than its credit card alternative. Hooking a debit card up to an online gambling site is also a bit more assuring. You can only spend the money you have. This can save you from the financial pickles you get yourself into by depositing a bit more that you should have in the heat of the moment. Hey everyone does it. This card is a player favourite because it is accepted all over the world. The best thing about it is you probably already have one, and you can make deposits to your online casino of choice without changing a thing. Find out more about Maestro.
Sofort is one of the most popular online payment services in Europe. It is based in Germany and offers its services to 14 other European nations. Online casinos and their players value Sofort because it doesn’t pass on their information, and it acts a middle man facilitating the transfer of funds. Sofort can be send and receive money instantly and there are no fees. They make the claim that since they started operating in 2005, Sofort has not has an information leak and none of their client’s data has been compromised. This dedication to security has led to them becoming one of the most trusted payment services in the eyes of players. Find out more about Sofort.
The American based financial service Western Union has some real history behind it. With over a 100 years of experience transferring money, they have learnt a thing or two, and it is this experience that players trust to get their money to their bankroll. The service has evolved with the times, and Western Union can now do all the things we expect from a top notch financial service, instant transfers, online banking, and issuing debit cards. With over 500,000 branches in 200 countries, Western Union is worth considering for your next deposit. Find out more about Western Union.
Zimpler is a Swedish payment service that has designed a service with the online casino industry in mind. Founded by Smart Payments Nordic, this payment service was only started earlier this year – 2016 – but they are already accepted at over 200 online casinos, and talking about expanding around Europe. Another feature worth mentioning is Zimpler is verified with an SMS code, and you can carry out all transactions on your phone. This is sure to be a hit with the growing popularity of mobile casinos. Find out more about Zimpler.
A relatively new way to fund a bankroll, Pay By Phone and SMS payment transactions credit your online casino account from your phone credit. You can also charge it to this month’s phone bill and worry about it when the time comes. Boasting compelling features like instant transfers, and minimal fees, pay by phone and SMS is winning over players from all over the world. It is dead simple. Send a quick text, wait for confirmation, and you are good to go. FInd out more about Pay By Phone.
Boku is a favored payment service, among players, available at a growing portfolio of online casinos. You can use it to conduct transactions solely on your phone through carrier billing. This is great because rather than entering your credit card details, you can set up and authorize transactions with your phone number. The money you deposit will then be deducted from your phone bill, at the end of the month, or it is taken from the credit on your phone. Read this in-depth analysis of Boku, the world’s largest carrier billing payment service. Find out more about Boku.
You have heard of American Express. They are a larger than life credit card company used by millions of process transactions all over the world. But how do they measure up when it comes to funding online casino? The American based financial institution can be used at almost every online casino, so the only question that remains is, should you? Read on for a full and concise review of the payment service, and how it stacks up against other payment methods. Find out more about American Express.
DotPay is a leader in the Polish financial industry providing payment solutions to business all around the world for Polish bank customers to transact with, but the service is beginning to expand, and it is being accepted by casinos and banks all over the world. This is a big deal, because they offer exciting payment methods like SMS payments and e-wallets. Have a read of this full review and see why we think that DotPay are a real game changer in the online casino industry. Find out more about DotPay.
Euteller is an online payment service that acts as an intermediary between 8 major Finnish banks and online merchants. The service is quite new. It was only founded in 2007, but it already has a clientele of over 3 million people and has moved over a billion euros. The service is popular because it allows for instant transfers. It also adds an extra layer of security by distancing you, and more importantly your online payment details, from the merchant (online casino). This extra bit of security is valued by players, and it has helped establish Euteller as the leading online financial service in Finland. Find out more about Euteller.
Diners Club international might not be the first thing that comes to mind when you hear online casino deposit, but the cards issued by this financial institution are more than capable of topping up a bank roll. Since MasterCard agreed to let them piggy back of their service, Diners Card is accepted pretty much everywhere; online casinos included. The annual credit card turnover of Diners Club North America is 7.8 billion US dollars, so you know that is an institution that you can trust. For a complete look at how Diners Club international works with online casinos, read this review. Find out more about Diners Club.
Bitcoin is not your typical payment method, but it is still a great way to get money to your bankroll. The cryptocurrency is renowned for the role it played in the Silk Road and other dark net black markets, and it is notorious for crashing and then rapidly increasing in value. But, if online casino players are willing to learn how to use Bitcoins, they offer several advantages over other payment methods, like low fees, fast transfers, and complete anonymity. Read this review to find out more. Find out more about Bitcoin.
Entercash is a direct payment platform based in Malta. It allows you to send money directly to an online casino with nothing but your internet banking password and username. Players appreciate the service because they don’t need to create accounts with third party payment companies, and they can avoid paying hefty credit card fees, while still enjoying instant transactions. Supported in 10 countries, Entercash is a blessing for players lucky enough to live in the part of the world it is taking care of. Read the full review now. Find out more about Entercash.
TrustPay are another new payment service that is catching on in the online casino industry. The Slovakian based company was founded in 2010, and it offer a service that process payments for merchants in a wide variety of local and international payment methods. There are multiple ways to use this payment method to get funds into your bankroll, and this has really made it a favorite among players. There are also lower fees and added security when you use this payment method over its competitors. Read the full review on TrustPay now. Find out more about TrustPay.
Qiwi started as a way to pay utility bills and send credit to phones, but when it began offering an e-wallet service that rivalled the best in the business, it quickly found its way into all kinds of new markets; among them online casinos. This payment method became a favourite for players everywhere; evident, by the fact that over 15 million accounts have been opened on the service. Qiwi continues to grow, and more retailers and online casinos start to accept it. Read the full review here. Find out more about Qiwi.