Banking Options For UK Players

Today, players have more choice than ever before when it comes to making deposits and withdrawals at online casinos – although the methods which will be available to you will vary depending on the country you reside in.
Generally speaking, UK players have it pretty good when it comes to making deposits and withdrawals at online casinos; they’re one of the few countries in which PayPal allows online gambling transactions to be made, for example, and UK laws now mean that online casinos cannot charge players a fee to make deposits. On this page, we’re going to be taking a look at the different banking options available to UK players. This list won’t be exhaustive, but it will cover the most common and popular payment methods you’ll be able to use.

Debit and Credit Cards

A lot of UK-based players will use debit cards to make deposits – and withdrawals – at online casinos, and this is thanks to the ease at which they can be used and the speed at which transactions are carried out. Virtually all of us have a debit card – and online casinos typically accept all major cards, including VISA, MasterCard and Maestro.
Making deposits using debit cards is incredibly easy too; you simply need to enter the long 16-digit card number, the expiry date of the card and the CVV – and, of course, the amount you wish to deposit. Depending on your bank, you may need to verify the transaction through a text message or banking app code, but other than that it’s near-instant, and deposits are credited to your online casino account instantly.
All online casinos will also give you the offer to store your debit card details, so to make future deposits you’ll simply need to enter the CVV number. Withdrawals can be made back to most debit cards too.
New UKGC guidelines mean credit cards can no longer be used to make deposits and withdrawals at online casinos in the UK, so you’ll be unable to use one to fund your online gambling account. Debit cards are still accepted, however.

PayPal

PayPal is such a popular payment method at online casinos that many sites advertise the fact that they accept it – and for UK players it’s often a great way of making deposits and withdrawals as it means you can make all your online casino transactions without them appearing on your bank statements. (There’s nothing wrong with online gambling transactions on bank statements, but many players simply like to keep their online gambling separate from their day-to-day payments.)
PayPal offers fast, free and secure payments to online casinos, and one of the major benefits of using it is that withdrawals from online casinos – once processed – appear instantly in your PayPal account. This means you end up waiting a lot less to receive your winnings and ensures that you can then withdraw them to your bank in a matter of minutes – rather than days.

Skrill

Skrill is perhaps the most popular payment method used at online casinos aside from debit and credit cards, and while it’s not as cheap as it used to be, it’s still used across the board by many UK players. Skrill – originally called MoneyBookers – is accepted at virtually every online casino on the planet, and it works in a very similar way to PayPal.
Setting up a Skrill account takes just a few minutes – although, as pointed out earlier, it’s becoming less popular due to the increased fees – often costing UK players as much as £5 simply to withdraw their funds out of their Skrill account.

Neteller

Neteller is another payment method you’ll see commonly offered at UK-focused online casinos, and it’s also one of the world’s oldest non-debit/credit card payment providers, established first back in 1999. The company is based in the Isle of Man and, like Skrill, works as an intermediary Ewallet between your bank account and the online casino. Neteller is licensed by the Financial Conduct Authority (FCA) and customer funds are also ring fenced – so you don’t need to worry about the safety of your funds when using Neteller.
Perhaps one of the biggest benefits of using Neteller is the fact that the company – generally speaking – focuses their efforts on online gambling. It’s estimated that around 85% of the payment processor’s transactions are made to/from online gambling businesses, and this means the company has been able to develop their processes to streamline making deposits and withdrawals at online casinos.
Paysafecard
Paysafecard is a type of pre-paid voucher, and it’s accepted at quite a few UK-focused online casinos, enabling those who prefer to use cash to fund their online casino accounts. Paysafecard is a type of voucher that you purchase in UK stores (think small Tesco Express’ and One Stop shops) and you simply head to the shop and purchase a voucher for the amount of money you want to fund your online casino account with – and you will then be given a physical voucher.
Then, when you’re ready to make a deposit at your preferred online casino you’ll be asked to enter some details from the voucher; this will include a long number and a special code. The amount of money that the voucher is worth will then be credited to your online casino account.
We should point out that you aren’t able to make withdrawals using Paysafecard. It’s purely for deposits, and this means that you’ll actually need to register another payment method on your online casino account in order to make withdrawals.

Apple Pay

Apple Pay is one of the newest payment methods offered at online casinos, and, at the forefront of cutting-edge technology it’s one of the safest and most secure ways of depositing money at online casinos. So, what is Apple Pay – and how does it work?
Well, in short you’ll still be using debit and credit cards – however, you won’t need to actually enter your card details in, as it’s all processed through Apple Pay. This means – instead – you’ll simply need to verify your identity on your Apple device (usually through Touch or FaceID) and all the form fields will then be filled out and your deposit processed.

Bank Transfer

Almost everyone makes bank transfers – whether it’s to pay monthly rent or simply reimburse friends for owed money, making bank transfers is fast, simple – and usually free. Many online casinos allow you to make deposits and withdrawals using a direct bank transfer – although this is generally reserved for those depositing large amounts, as, due to the fact that most online casinos are based outside of the UK, the Faster Payments system isn’t feasible so there are international fees associated with making these payments.
While it may sound like an easy way to deposit funds into – and withdraw funds out – of your online gambling account, bank transfer payments are slow and often have funds attached. They typically take between 2 and 5 days to credit to the online casino account, and this is the same general time-frame you can expect for withdrawals too.

Trustly

Following on from the bank transfer payments we just looked at comes Trustly. Trustly in a very unique type of payment processor that’s a few years old and focuses almost entirely on the online gambling industry. Trustly allows you to make instant deposits and withdrawals using bank transfer to online casinos – regardless of whether the online casino is based within the UK or not – and it’s incredibly simple to use.
When you’re logged into the online casino account you wish to use, you simply need to select Trustly as your chosen payment option and you’ll then be prompted to select your bank from a list. You then just log into your bank (using online banking) and the transfer is made automatically – and it takes just a minute or two to complete. Funds are then credited instantly to your casino account, and you’re then free to begin playing! Withdrawals made using Trustly are also – usually – instant, so as soon as the online casino has processed your withdrawal request the funds will be available within your UK bank account within minutes, so it’s a great way to get your hands on your cash faster than other conventional payment options.

Pay-By-Phone

Despite coming under intense criticism a few years ago, Pay by Phone casinos still exist – although the payment option is becoming less-common, so UK players will likely find it harder to find pay by phone casinos today. So, what is pay by phone and how does it work?
If you choose to make a deposit using “pay by phone” you’ll be able to deposit money at online casinos without needing to have the money available in your bank account. Instead, the amount you deposit is added on to your monthly phone bill – and this means you then pay your phone bill company the amount you deposit at the end of the month.

Cryptocurrencies

Over the past few years cryptocurrencies have gained steady momentum in the online gambling world, and while UK-based casinos have been slower to adapt to the technology (largely due to compliance issues) certain UK-facing online casinos now accept various types of cryptocurrencies – most notably Bitcoin and Ethereum.
Cryptocurrencies are a safe, secure – and anonymous – way to make payments online, and while, in the past, they were commonly associated with criminal gangs and online drug markets they’re gaining popularity away from this shady side, and while they can take a little bit of getting used to – tech-wise – for those wanting a way to deposit and withdraw funds instantly, without fees and without appearing on bank statements.

Which Payment Option Is Best For You?

Choosing the right payment method is all about your personal circumstances. For example, if you don’t mind about having online gambling transactions on your bank statement, using a debit card is probably just fine – however, the slow withdrawals are a bit of a turn-off, which is where EWallets may come in handy.
PayPal, for example, is a great way of making fast and fee-free deposits and withdrawals, and with most players having a PayPal account anyway, it’s quick to get started!
Let us know in the forum what your preferred payment method is? Do you have any favourites – or reasons why you don’t like using certain methods? Let us know!

About the Author... Total Posts Written: 80
Alex Smith

Alex Smith

Alex is a 26-year-old writer from Brighton, in the UK, and for the past 8 years, he’s worked with a number of companies, creating content for blogs, news articles, and more. While Alex has written on a wide variety of topics, his speciality is online gambling – an industry he’s both passionate about, and experienced in. Having enjoyed gambling for over 7 years, Alex is a huge fan of video slots, and cites NetEnt, Big Time Gaming, Thunderkick, and Quickspin as his favourite providers. The topics he writes on are varied, but he loves nothing more than a good old slot review (he’s written over 1,000 slot reviews in his career), and he also enjoys writing in-depth gambling guides, along with casino reviews. In his spare time, Alex enjoys playing the guitar, and is a self-proclaimed horror film buff.

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