Being able to deposit quickly, easily and securely should be a given in today’s online marketplace, right? Well, when it comes to playing online casinos, depositing and withdrawing your cash may not be all that it appears – there are a myriad of different ways and means with which you can pay, and these vary considerably from casino to casino.
The range of available options can be quite daunting at first glance, but once you become familiar with online casino banking (and their preferences), you’ll find that there are definitively quicker and more effective ways of moving your money around than classic bank transfers.
What Are the Main Payment Methods?
Knowing which payment methods are not only available, but also preferred by the casino is a critical piece of learning. When choosing an online casino to gamble with, you should do a bit of dedicated research to find out their story; however, let’s first take a look at the most common and popular payment methods.
Credit and Debit Cards
While credit cards aren’t always an acceptable payment method, popular debit cards are universally accepted by UK casinos, including:
- Visa Debit
- Visa Electron
Using a debit or credit card guarantees safe, secure money transfer with a properly licensed and regulated casino, however it’s not quite as fast as the electronic methods. In terms of withdrawals, using a credit or debit card usually takes 2-3 days longer than using an e-wallet; the benefit of course is that it goes straight into your account (where you can spend it however you want!) but the wait can chaff for some users.
There are also common problems with using credit cards to withdraw winnings at the end of the day – always read the casino’s terms and conditions before making that first deposit. Trust us, it’ll help you avoid future headaches.
Neteller and PayPal are probably the “big two” when it comes to popular e-wallets used for online casino banking. As well as being very secure, they are substantially faster than any rival method.
Deposits will appear in your online casino account within a few minutes (at most) and, following any processing from the casino, withdrawals can be instantaneous. If you play slots at multiple casinos, using e-wallets allows you to navigate between them more easily, always keeping track and control of your money.
Other popular payment methods include:
- Citadel Commerce
- Prepaid Cards
This is the payment method you’re least likely to be familiar with, even though it has taken the online casino world by storm in recent years. Basically, you can load an amount of money onto your card (PaySafeCard is the most popular) and enter your personal code on the casino’s website – the money will be instantly available in your account, ready to use!
Of course this only works for casinos who choose to partner with PaySafeCard (or whichever prepaid method you want to try), so it’s not a guaranteed option everywhere.
It’s very possible to pay by phone with a number of UK casinos, and some view this as both the simplest and most secure method available. You phone the casino and specify the amount you would like debited to your account (maximum of £30) – then you’ll receive a text message where you can confirm the transaction.
The amount is simply added to your monthly phone bill. There’s no handing over of bank details or personal information, and you can’t go over-the-top with your deposits. The significant downside is that you frequently have to receive your winnings by cheque, which takes an age to clear into your account.
Preferred Payment Bonuses for Slots Players
Though you may not have considered it before, you and the casinos share one vital thing in common: neither of you want to pay exorbitant transaction and processing fees when dealing with payments. Remember when you make a withdrawal, the casino also has to pay for the transaction, so it’s in their best interest for you to use the payment provider with the lowest fees.
In recent years, casinos have cleverly started offering bonuses for players who use their preferred payment provider. Say it was Neteller – when you use that e-wallet for your transactions, the casino will reward you with a bonus: a small percentage match with your deposits, for example.
By giving you a personal incentive, the casino is able to manage their own finances more efficiently. If you have the chance to cash in simply by using a specific payment method, then we say go for it!
The mobile gaming industry is evolving rapidly into a whole new entity, and preferred payment bonuses are as prevalent here as anywhere else. Check if you can grab a preferred payment bonus when browsing new apps – it’s basically a free advantage over the crowd, so why wouldn’t you?
Check out our table of mobile preferred payment bonuses from our recommended mobile casinos to get the best deal!