What payment methods can I use at online casinos?
If one thing’s for sure it’s that players aren’t short of choice when it comes to online casino payment methods. Let’s check out the most widely accepted options:
Bank cards
Bank cards are the most popular casino payment methods, available at all the top casino sites. You can use all major card brands to pay and play online, including Visa, Visa Electron, American Express, Maestro and MasterCard. Here’s what you need to know.
Advantages
Most people already have a bank card and are familiar with making online card payments, which makes depositing at online casinos easy and stress-free. Debit and credit cards also benefit from instant deposits at online casinos, so you’ll be able to start playing your favourite titles as soon as you hit confirm.
Bank cards are also safe and secure to use online. This is thanks to the safety protocols of banks and online casinos, such as data encryption, anti-fraud protection and strong customer support.
Disadvantages
The main drawback to using bank cards at online casinos is that withdrawal times can be slow. It can take anything between 1-7 working days for online casinos to process your withdrawal request, and then you’ll need to wait for your bank to process the payment, which means you may have to be patient when cashing in your winnings.
While bank cards are safe to use online, they still require you to enter sensitive information, such as your card details and billing address, when making payments. This is why some players prefer banking options that offer greater anonymity.
You can use either a debit or credit card to bank at online casinos. But what are the differences between these two options?
Debit card
Debit cards are the most widely accepted online casino banking option and can be used at virtually every top casino site. It’s also free to deposit and withdraw with your debit card, which makes this the number one payment method for UK casino players.
Credit card
Whereas a debit card uses your bank funds, a credit card —as its name suggests— allows you to use credit instead, paying it off at a later date. While this means you can play now, pay later, it’s important to ensure that you always deposit and play responsibly.
Most casinos don’t charge for depositing via credit card, but some credit card providers charge a fee for payments to gambling sites. Some providers also charge interest on credit to gambling site transactions, which can be as high as 30% on some cards, so this is something to watch out for. Plus, not all sites offer support for withdrawals to credit cards, so this may limit your options.
E-wallets
E-wallets, or digital wallets, are online accounts which can be used to send and receive money. You’ve probably heard of PayPal, which is the world’s most used e-wallet, but there’s a range of other options available at online casinos too, such as Skrill and Neteller casino deposits.
Advantages
E-wallets offer instant deposits and some of the fastest withdrawal times of all casino payment methods, with many sites processing withdrawals in less than 24 hours. Another advantage is that you won’t need to enter any financial details to make online payments, minimising the risk of your sensitive data being leaked. Furthermore, e-wallets usually have their own built-in security systems, such as powerful data encryption and two-factor authentication, so they offer an extra layer of protection.
Most e-wallets also have native mobile apps which make banking on the go even easier. This means you can receive notifications when payments are confirmed and when you receive money.
Disadvantages
The main disadvantage is that some e-wallets charge fees, which may put some players off. These charges vary with different providers – PayPal, for example, is mostly free to use at online casinos, but other e-wallets may charge for transactions.
While creating an e-wallet account is generally a quick and easy process— you’ll usually just need to provide your name, email and date of birth— the fact that you need this account might not be to everyone’s taste. You should also know that e-wallet deposits aren’t always eligible for welcome bonuses like matched deposits and free spins.
Here’s a look at the e-wallets most commonly supported at online casinos.
PayPal – PayPal only partners with trusted, reputable brands, so while it’s accepted by a range of top online casinos, brand new sites won’t necessarily have the rights to accept PayPal deposits. On the plus side, it’s generally free to make domestic payments with PayPal, unless the transaction involves a currency conversion. As the world’s most trusted e-wallet, PayPal offers great customer support and 24/7 fraud protection, so many players consider it one of the best online casino payment methods.
Neteller – Pretty much every online casino accepts Neteller deposits, which makes it a popular choice amongst players. Bear in mind that you might not be eligible to claim the welcome bonus when you deposit with Neteller, and you’ll likely be charged a 2.5% fee for your transactions.
Skrill – Very similar to Neteller, Skrill is accepted at a wide range of online casino sites. However, deposits via this e-wallet are often excluded from welcome bonus deals so, unless yours is a no deposit bonus, you might need to deposit with a different banking option to claim your new player reward. You should also check out Skrill charges if you’re eyeing up this payment method.
EcoPayz – ecoPayz isn’t as widely accepted as Neteller or Skrill, but it’s still a favourite of some players thanks to its security and speedy deposits. Like other e-wallets, it also offers prepaid cards that can be used online and also to draw cash at ATMs. Make sure to read up on the fees and limits if you’re thinking of using EcoPayz, as you may be charged to put money in your account.
WebMoney – WebMoney is most popular in Russia, but is also used by over 30 million people globally. You can use this option at some of the best online casinos, but there are some fees involved and you may also find that withdrawal times are slower than for other e-wallets. Some online casinos also restrict which countries WebMoney can be used in, so it may not be available to all players.
Direct online banking payments
Direct online banking systems provide a direct link between your bank and your chosen casino, but there’s no need to enter card details or make an extra account like with e-wallets. Instead, when you select a direct online banking option at a casino cashier page, you’ll be redirected to your online banking account where you’ll need to log in to confirm the transaction.
Advantages
These online casino payment methods give you an added layer of security that you don’t have when using a bank card, as you don’t enter any card details online. Your online banking details aren’t saved either, so you can rest easy knowing this is a safe option for instant casino deposits.
For added protection, some providers will send you an SMS code that you’ll need to enter online to verify the payment.
Limitations
You’ll only be able to use a direct online banking option if your bank is partnered with the provider. On top of that, while a fair few of the best casinos offer this option, you can’t use it at all sites, and some providers also charge fees.
Another thing to note is that this banking option isn’t always accepted for withdrawals at online casino sites.
Want to know more the about direct online banking options available at online casinos? These are some of the most widely accepted:
Trustly – This Swedish provider is available in 29 European countries, including at UK casino sites. This banking option doesn’t apply any fees itself, but online casinos and banks might have separate charges for using Trustly, so be sure to check these before you deposit.
Giropay – Giropay is the most used online payment method in Germany, but isn’t available to players from with a non-German bank account, so you won’t be able to use this if you’re a UK casino player. The fees for using Giropay vary, but it generally charges 1.30% + €0.20.
Sofort – This is another popular payment method in Germany but is also available in several other European countries and is supported at various online casino sites. The main disadvantage is that support for Sofort withdrawals isn’t always available at the top online casinos.
Pay by phone bill does what it says on the tin: deposits are charged to your phone bill, rather than your bank account or e-wallet. There are several different pay by phone bill providers partnered with online casinos, including Boku, Payforit, Zimpler and PayByPhone. While Boku is the most common, they all work in essentially the same way.
Advantages
All you need to use pay by phone bill is a phone number, which you enter when depositing at online casinos- no need to enter personal banking information. You’ll then receive a text that will either contain a code or need to be replied to in order to verify the payment, which will be processed instantly. This means that whether you want to play pay by mobile slots, or pay by mobile to play any other game, you can get started quickly.
If you pay for your phone monthly, you’ll pay your deposits when you settle your monthly bill, meaning you can play now, play later. If you’re on pay-as-you-go, deposits will be deducted from your credit there and then.
As there’s no need for bank details, pay by phone bill is one of the most secure methods out there. In general, it’s free to deposit by phone bill, and there’s no need to sign up to an extra account either.
Limitations
The biggest drawback to paying by phone bill at online casinos is that you cannot withdraw your winnings via the same method. While some sites offer bank transfer as the default withdrawal option, others allow you to select another that best suits you.
Certain pay by phone bill providers also have relatively small daily deposit limits. For example, while Zimpler lets users set their own limits, Boku has a daily transaction limit of £30. Of course, while this can be helpful for budgeting and keeping track of your spending, it might not be suited to high rollers.
Prepaid cards
Prepaid cards are a pretty popular casino payment method. The concept is simple: you purchase a card either online or in a store and choose how much money to deposit on the card. You won’t be able to exceed this amount. To remain secure, each card comes with a unique PIN which is all you need to enter when paying online.
Advantages
The biggest attraction to prepaid cards is their privacy and security. As you only need the prepaid card pin to make deposits, you won’t need to disclose any bank details or personal information. Prepaid cards also offer instant deposits, so as soon as you hit confirm you’ll be able to enjoy playing real money casino games, from slots to blackjack to live dealer games.
Limitations
Prepaid cards can involve fees, which may push some players to look elsewhere. On top of that, prepaid cards can’t be used for withdrawals, which means you’ll have to use a different banking option to cash in on your returns.
At most sites, you’ll also find that prepaid cards have lower deposits than other methods like bank cards or e-wallets. These limits might not affect you if you’re a beginner or casual gambler, but high stakes players may prefer other casino banking options.
Online casinos most commonly accept these types of prepaid cards:
Paysafecard
This is a fairly widely accepted online casino payment method and you don’t even need a bank account to buy one, as they can be purchased online or with cash at local retailers. Casinos don’t charge for using paysafecard, but there’s a £6 fee for refunds. There’s also the paysafecard Mastercard, that lets you pay in the same way as a regular bank card and can be used anywhere where Mastercard is accepted.
Astropay
Astropay gives users access to virtual prepaid cards which can be used to deposit and play real money games at online casinos. This prepaid card is most popular in South America, but is used throughout the world and can be found at some of the UK’s top online casinos. Casino sites don’t usually charge for Astropay deposits, but it’s always best to check the terms and conditions just in case.
Bitcoin
Yes, that’s right – bitcoin is now a banking option at some online casinos. This cryptocurrency, a form of digital money, is now making its way into the world of online gambling.
Of course, you’ll need to have purchased some bitcoin, and have sufficient funds in your bitcoin wallet before you can deposit at online casinos. The exact process of how to deposit with bitcoin will vary between online casinos- while you’ll have a QR code at some sites, others will ask you to enter a code.
Advantages
One of the main reasons people like to play at bitcoin casinos is because of the anonymity and privacy this cryptocurrency offers. It’s the only casino payment method that doesn’t involve a third party, so bitcoin cuts out the middleman and has become the go-to option for some players.
Bitcoin is also a universal currency, so there are no currency conversion charges involved, unlike other banking options such as e-wallets.
Limitations
As a relatively new payment method, bitcoin isn’t yet widely accepted at online casinos. Also, even though bitcoin deposits are generally processed pretty quickly, they aren’t instant like most other banking options. Transactions take on average 30-60 minutes to complete, but this can vary from site to site.
Bitcoin is also a highly volatile currency, meaning its value can fluctuate significantly. This means that, even though your bitcoin may be worth thousands when you deposit, its worth could have decreased massively by the time you withdraw any winnings. So while bitcoin can be a great casino banking option, but it’s best suited to players with experience in using it.
Apple Pay and Google Pay
One of the latest banking options to crop up at UK casinos, Apple Pay and Google Pay and are slowly making their mark in the online gambling world. You’ve probably already heard of these payment methods, but how useful are they at online casinos?
Advantages
Apple Pay and Google Pay are linked to your bank account, but they provide extra safety as you don’t need to enter your details online. You can also activate two step authentication and use fingerprint ID or facial recognition for even more protection.
Another big plus to using these mobile casino payment methods is that they make depositing particularly quick and easy if you have an iPhone or Android – instant payments can be made in just a few simple clicks. As these are mobile phone payment methods, they’re also ideal if you like to play mobile slots, or other casino games on the go.
Disadvantages
As Apple and Google Pay are pretty new to the casino scene, at the moment they’re only on offer at a few sites. Of course, if you don’t have a smartphone that supports these options, you won’t be able to benefit from them. Casinos don’t support Apple or Google Pay withdrawals either, so you’ll need to use a different banking option to cash in any winnings.
Wire transfer
A wire transfer is a direct bank transfer that doesn’t use a debit or credit card. These transfers can be made via mobile or online banking, by phoning your bank, or by visiting your local branch. You can use them at a range of top casinos, so let’s check out the pros and cons.
Advantages
One reason that some players prefer wire transfers over paying with a bank card is because you don’t need to enter any financial details online. Although licensed casinos have security systems in place to prevent fraud or hacking, not having to enter sensitive information gives some players peace of mind when making deposits. On top of that, wire transfers are simple and don’t require you to sign up to new accounts or services, such as e-wallets or prepaid cards.
Disadvantages
The biggest drawback to wire transfer is that it can be one of the slowest casino payment methods. For example, while bank card deposits are instant, wire transfers can take up to 5 working days to clear at some sites, and withdrawals can take even longer.
Some casino sites also set higher minimum deposit and withdrawal limits for using bank transfer. At some sites, minimum deposits are set as high as £50, and you’ll need to withdraw at least £100 to use the bank transfer option. These higher limits are set to compensate for the additional processing of a wire transfer in comparison to other online casino payment methods. Some casinos may also charge if you request withdrawals under the minimum amount, such as a £5 fee for wire transfer withdrawals under £100.
How to choose the best online casino payment method
Every casino banking option has its advantages and disadvantages, which means some won’t suit everyone. Here’s what you should consider when deciding on the payment method that’s right for you:
Speed
Every casino player wants to be able to cash in as soon as possible if they land a lucky win. Most major banking options offer instant deposits, but there’s a lot more variation in withdrawal times.
If you don’t fancy waiting around to bank your returns, check out our genius casino reviews to find out which sites offer the quickest withdrawals for the best online casino payment methods.
Ease
No banking options are particularly complicated, but some make things slightly easier than others. If you’re put off by the thought of having to manage an extra account, you may be best off sticking with the most straightforward options like bank cards or phone bill payments.
Security
All online casinos and payment providers have strict security measures in place to protect players, but there’s always a slight risk of fraud or hacking whenever you make online payments.
Some of the best online casino payment methods offer that added layer of protection to help reduce the risk, which is something worth considering. If you’d rather not have to enter your sensitive details online, casinos that accept e-wallets and prepaid cards could be you best option.
Bonuses
You shouldn’t assume that you’ll always be eligible for bonuses- terms and conditions often state that certain deposit methods are excluded. It’s usually Neteller and Skrill that are excluded, but this varies between casino bonuses.You won’t need to worry about this if you manage to bag a no deposit bonus, but it’s something to keep in mind if you’re a fan of matched deposits or free spins welcome bonuses.
Withdrawals
You won’t be able to request withdrawals at online casinos with every banking option. While this might not be a problem to some people, those who prefer to use just one payment method may be best off steering clear of the likes of phone bill payments and prepaid cards, which can only be used to make deposits.
Limits
Minimum deposit and withdrawal limits at online casinos typically range from £5-£10 for most online casino payment methods, but there’s more variation in maximum limits. Bank cards and e-wallets generally offer the highest limits, which means high rollers or progressive jackpot fans may be best of with one of these options.
Mobile banking
Pretty much every online casino has a mobile site or mobile casino app for players to enjoy their favourite games on the go. Of course, you can use pretty much all the banking options on mobile casino sites, but the likes of Apple Pay and Google Pay make mobile transactions particularly easy.
Availability
Last but not least, you should weigh up the benefits of each banking option against where you can use it. This won’t be a problem if you’re using a bank card or popular e-wallet, but fans of bitcoin and direct online banking payments aren’t as widely available.
Luckily for you, our genius list and expert reviews make it easy to check out which of our recommended sites accept the best online casino payment methods.
Safety tips
Every casino payment method comes with security and anti-fraud protection, but it’s always best to take extra precaution where possible. Here are some handy tips to help you stay safe when paying online.
Only play at licensed casinos
Governing bodies, such as the UK Gambling Commission (UKGC), regulate casinos to ensure players’ safety, so it’s important to only play at licensed sites. All the casinos we recommend are fully licensed, but if you browse others you should look out for governing body logos and licence numbers at the footer of the site.
Use strong passwords
Weak passwords are one of the major reasons behind hacking, so we’d recommend using a random, secure password. A good mix of uppercase and lowercase letters as well as numbers is advisable, and avoid obvious dates like your birthday.
Never share sensitive information
Whether it’s your password, bank card CVV number or any other personal details, you should never share sensitive information- be that online or offline. You should also avoid entering sensitive information on shared computers and public wifi networks that might not be secure.
Use secure sites
Look out for ‘https’ in the URL, as well as the padlock symbol if you’re using Google Chrome- these features tell you a website is secure. Visiting unsecure sites makes you more open to potential fraud, so try to stay clear of these.
Watch out for phishing
Hackers often try to obtain sensitive information by sending emails posing as legitimate companies. Genuine, regulated companies will never ask you to disclose sensitive information via email, so be wary. Never open links in phishing emails – it’s best to delete and report suspected phishing attempts, blocking the email address to prevent future attempts.
Antivirus software
It’s always advisable to have strong antivirus software and firewalls when playing at online casinos, and using the internet in general. While there are some free options out there, you may to have pay to download software that is perfect for you. This is a worthwhile investment in our eyes, for the protection they give your computer from potential viruses, hacking and fraud.
Ready to pay and play at an online casino?
Now we’ve passed on our genius knowledge, we’re sure you’ve got everything you need to pick the perfect casino banking option for you. Use our genius list of the top online casinos with the best banking options to pick out the ideal place to play.
