UK casino players have an almost endless choice of entertaining games when it comes to live dealer games, slots, jackpots, traditional card/table games and sport betting options. The most important decision is to find a reliable online casino, followed by making sure it offers payment options that are trustworthy, convenient and easy to use.
Most Popular Casino Payment Options in the UK Casinos
General Payment Options Offered at UK Casinos
With money constantly flowing in and out of the casino, UK online players have access to several depositing and withdrawal methods. Most online casinos accept account funding via credit cards, debit cards, bank transfers, prepaid cards as well as eWallets. Many online casinos also added Bitcoin to the lengthy list of acceptable payment options.
Each of the above-listed payment options aim to provide users with services tailored to their specific needs, although some might be more beneficial to UK players. Online casino players favour debit cards when they already have funds in their bank account. Credit cards owners enjoy cashback rewards from payment service suppliers, while in most instances eWallets offer the fastest withdrawal times. Bitcoin currently stays the most popular cryptocurrency and enjoys huge popularity since it offers online casino players the opportunity to remain totally anonymous.
More payment options
How to Select the Best Online Casino Payment Method
Apart from trustworthiness, there are several other factors online casino players need to take into consideration before selecting the fastest and most convenient payment option. These are some of the most important factors to keep in mind:
- Currencies Accepted
- Deposit Clearance
- Minimum Deposit Required
- Withdrawal Time Periods
- Deposit/ Withdrawal Charges
- Bonus Qualification
Most of the top UK online casinos accept a wide variety of currencies including Euros, US / Canadian / Australian dollars, British Pound Sterling and Bitcoin. To ensure fast hassle-free deposits and withdrawals, playing in the currency you earn or bank in makes an enormous difference such as avoiding added currency conversion costs.
Online players make deposits whenever they feel like trying their luck at the slots or live dealer tables, so it is vital to select a payment option that offers instant clearance, which allows them to enjoy gaming straight away.
Online casinos display the minimum deposit accepted, and it is always best to ensure that your deposit meets the requirements set by both the operator and the payment service provider. At the same time, the cashier section also shows the minimum amount players need before they can request a withdrawal.
Once you’re in the pound seats having won at the tables or slots it is time to celebrate and you then want your winnings paid into your bank account as quickly as possible, for this reason it is vital to check the withdrawal time periods offered on each specific banking option.
One of the most important factors to keep in mind when selecting a payment method is the fees charged by the service provider and some online casinos charge an additional fee on withdrawals.
Payment methods could even prevent new members from qualifying for welcome bonuses because a few online casinos exclude deposits made via Skrill and Neteller from enjoying free bonuses.
Popular and Secure Payment Options Available to UK Players
Online players traditionally favour the use of credit and debit cards when transacting deposits and withdrawals to and from virtual casinos. Both options provide UK players with safe and secure account funding, although withdrawals could take a few business days.
Online players residing in the UK enjoy the benefit of having access to a sizeable number of top-notch banking options including, Trustly, InstaDebit, and Euteller to name only a few. Bank transfers allow easy, secure ways to transact electronic funds.
Players who wish to remain strictly within their monthly entertainment budget all agree prepaid cards remain the most convenient option. This payment method became popular with British players since it ensures quick depositing with funds made available instantly.
A diverse selection of eWallet payments options remain accessible to players from the United Kingdom, where once players have opened an eWallet account, both withdrawal and deposit transactions occur quickly.
Cryptocurrency usage continues to increase since it offers players the freedom to enjoy casino games anonymously, it is also one of the safest online transaction options where both deposits and withdrawals occur almost instantly.
Deposit and Withdrawal Payment Methods
Online casinos stipulate that the payment option players select to fund their online casinos would also become the method used for processing withdrawals. Therefore, choosing the best-suited banking method before transacting any deposits becomes hugely important.
Credit & Debit cards such as Maestro, MasterCard and Visa is by far the most preferred payment method used by UK casino players. Their popularity is quite understandable since both offer fast and easy account funding, although users need to provide the casino with their card and CVC numbers.
Skrill, Neteller, EcoPayz and PayPal are some of the eWallets most used to fund online casino accounts. Considered as one of the most secure payment solutions, all major online operators could potentially offer the facility to utilise eWallet services.
Bank transfers, probably the oldest method in use for depositing and withdrawals, also remains one of the easiest to use at online casinos. Bank transfers lost popularity over the past decade with the introduction of alternative payment methods that offer much faster turnarounds. In funding casino accounts via bank transfer players need to provide their personal banking details to the casino; this caused many players uncomfortable with providing their personal information moved away from using bank transfers.
Not all Online Casinos Accept Every Payment Options
The number of payment methods available at online casinos differs hugely from one operator to the next. With the advent of mobile casino popularity, most online operators provide payment methods preferred by both desktop and mobile players in the UK.
The most popular payment method used by mobile players according to recently released statistics is credit cards, therefore it became available at 92% of all UK online and mobile casinos. MasterCard and Visa both remain equally popular when it comes to funding online casino accounts.
Debit cards, such as Maestro, remain the number one preference of millions and therefore became accepted in 76% of all online and mobile casinos as the most convenient option for players when it comes to ease of use and security.
eWallets proved to be the third most popular banking method used by online casino players, preferred for both its inherent safety as well as fast deposit and withdrawal times. eWallets quickly became one of the most accepted payment methods, it currently sees use at 52% of mobile and online casinos, with Neteller proving most popular, followed by Visa Electron, Solo, Skrill, PayPal and Paysafecard.
Prepaid or virtual cards such as ECO became serviceable at 24% of online operators, while phone billing or pay by phone currently enjoys an increase in popularity, this payment option now forms part of the payment options list at over 16% of casinos.
Payment Methods Ensuring Faster Withdrawal Periods for UK Players
When it comes to swift withdrawals both the casino’s pending period and the selected payment method needs careful consideration. Several online casinos process withdrawals only on weekdays, while major UK casinos process withdrawals 24/7. The withdrawal period not only becomes reliant on the pending period, it additionally relies on how quickly players provide the casino with all the required documentation, especially so for first-time withdrawals.
Withdrawals via MasterCard or Visa require one to three days, while direct bank transfers can take up to a maximum of three days and players need to supply the casino with an IBAN (International Bank Account Number).
UK players using eWallets to fund their online casino accounts enjoy speedy withdrawals because once a withdrawal receives approval from the casino all winnings become available almost immediately.
By using Bitcoin as a deposit method, UK players can also withdraw winnings in the cryptocurrency, which, apart from privacy this option, offers seamless withdrawals with funds instantly added to player Bitcoin wallets.
Location Importance in Selecting the Best Payment Option at Online Casinos
Online casino sections often provide player location-specific payment options since the member’s location proves of great importance when selecting the most appropriate payment method. In 2016, Paysafe announced that Neteller, as well as Skrill, would no longer offer MasterCard to residents in NON-SEPA counties. The change affected players in Ireland, Italy, Germany and France as well as several other countries. The announcement sent the affected casino players searching for alternative payment options since Neteller and Skrill would no longer offer prepaid MasterCard services.
Many online players found a secure solution by using EcoCard while others returned to using debit/credit cards. The most utilised payment methods in the United Kingdom includes bank cards, Skrill, PayPal and Sofort, which makes it wise to find an online casino offering payment solutions specific to your country.
PayPal, currently used by over 20 million people in the UK, went on to become accepted by over 7 million businesses worldwide. By selecting a payment method available in the player’s country, it invalidates all currency conversion fees and withdrawals reach winners much faster.