The payment methods used for online gambling sites reflect the legitimacy and trustworthiness of the casinos. The payment methods show the involvement a casino has on the UK market. Licensing and customer services are directly correlated with the online casinos payment methods.
For casinos that want to offer PayPal as a deposit and withdraw method, they need to have a connection of some sort with the United Kingdom. The operators are required to be actively involved in the country by having at least one bank account created at a local bank. This is so that the UK Gambling Commission can reach the casinos more easily, in case of suspicions.
So how many payment methods should an online casino offer? It depends, but of course, the more it provides, the better. We advise you to choose online casinos that have at least one payment method from one of the following:
- Wire Transfers
- E-Wallets
- Debit Cards
- Pay By Phone
- Crypto Currency
The growth of the payment methods has increased significantly in the last years, due to the increasing number of online casinos. It’s important to check what methods are available both for deposit and withdraw, before you start playing on a casino. Depending on your requirements, you might be looking for a casino that offers deposits from e-wallets like Skrill, PayPal or Neteller. The deposits and and withdrawals in such cases take less in less than 24 hours. If you are in a rush, you might want to avoid wire transfers, as these are the slowest option and can take several business days.
These are some options that online casinos are offering for depositing money and also for withdrawing.
Debit Cards
The most popular payment method is the debit card. It has been one of the first methods available and as a consequence, it still remains a preferred option for many. Even though the method is very popular, it’s important to know that there are several restrictions that apply, especially for withdrawals.
Several companies such as American Express do not allow any gambling transactions. Visa and Mastercard allow deposits and withdrawals in the United Kingdom and Ireland. However, Mastercard, restricts withdrawals in any other country. These are some the limitations imposed by the debit card payment method:
Debit card limits:
- Minimum deposit: £10
- Minimum withdrawal: £20
- Maximum deposit: No limit
- Maximum withdraw: Unlimited, but there are different restrictions to the amount you can withdraw per day.
- Process time deposit: Instant
- Process time Withdrawal: 24-48h
- Transfer cost deposit: Seldom up to 2,5%.
- Transfer Cost withdrawal: Seldom up to 2,5%.
- Withdrawal limits per day: Each casino has a different restriction for the amount you can withdraw per day, so make sure to read their Terms & Conditions or contact their support to learn more about them.
E-Wallets ( PayPal, Skrill, Neteller )
Several e-wallets have been created especially for the gambling industry or have thrived along with it. That’s the case with Skrill and Neteller. They were created and developed to help the industry an alternative payment method that will protect the user and help deposits and withdraw be processed faster and easier. Nowadays, most online casinos in the UK offer deposit and withdrawal methods through e-wallets. In the gambling industry, these have now become almost as popular as debit cards.
Depositing money in an online casino through an e-wallet is free of any charge. However, When you fund your Skrill or Neteller account, a fee that costs between 1.75% to 1.9% is applied. At some point, we expect that their fees will align, considering that they are owned by the same company.
Here are some aspects you have to know before deciding to use e-wallet as a payment method:
- Minimum deposit: £5 – £10
- Minimum withdrawal: £20
- Maximum deposit: No limit
- Maximum withdraw: Unlimited. Frequently limited to an amount per day
- Process time deposit: Instant
- Process time Withdrawal: 1 – 24h
- Transfer cost deposit: No fee for the casino deposit. Funding wallet fee from 1-2,5%
- Transfer Cost withdrawal: No fee from the casino. Funding wallet fee from 1-2,5%
- Withdrawal limits per day: Restricts may be different from casino to casino, so please check the Terms and Conditions
PayPal, is not such a common payment method in the UK. Their system is more strict in terms of regulations to prevent money laundering, making it more complicated for casinos to implement it.
Wire Transfers
An old fashion way of making online transactions that is not so practical. Wire transfers are slow and take several days until the money arrive in your casino account. In extreme cases, it can take up to 10 days for transfers to be processed. Especially for withdrawals, the time for the money to reach your account is quite long. It depends on your bank, and how fast they usually process transfers.
If you would like to deposit or withdraw money to an online casino using wire transfers, we recommend Zimpler, TrustPay or Trusty.
Bank Wire Transfer requirements:
- Minimum deposit: £10
- Minimum withdrawal: £25
- Maximum deposit: No limit
- Maximum withdraw: Unlimited but frequently restricted with an amount per day
- Process time deposit: 5 days
- Process time Withdrawal: 1 – 10 days
- Transfer cost deposit: No fee
- Transfer Cost withdrawal: No fee
- Withdrawal limits per day: Check each casino’s terms and conditions. Restricts vary.
Pay by phone
A method that has seen quite a significant growth in the UK is pay by phone, BOKu or Pay by SMS. This method is in particular oriented to mobile online casino players, which as of today account of 70% of the market. Not the whole mobile market users use this method though, but it’s usually preferred by them. Some see it as an advantage that you can deposit money in your account today, and pay later, when the phone bill is processed. There is however a low limit on the deposit, so this method might only be of interest for beginners or low stake players.
Pay by Phone Characteristics:
- Minimum deposit: £10
- Minimum withdrawal: N/A
- Maximum deposit: £30
- Maximum withdraw: N/A
- Process time deposit: Instant
- Process time Withdrawal: N/A
- Transfer cost deposit: No fee
- Transfer Cost withdrawal: No fee
- Withdrawal limits per day: N/A. You will likely have to look for alternative withdrawing options. Check the casino terms and conditions.
Crypto currency
As crypto currencies have started to become more popular, the demand for the use in online casinos has grown as well. There are a few casinos that offer payment with Bitcoin as a solution. Usually, this method attracts highrollers. The popularity of crypto currencies is still growing, so it will take a few more years until it will reach the peak.