Casino Banking Methods for UK Players in 2021

When joining a new online casino, choosing the right payment method can be a daunting task due to the vast array of online casino banking options available today. However, it’s vital that you make this decision carefully since safety, speed, and transaction fees largely differ from one to the other. In case you’re on the lookout for your perfect payment method, check out the guide below and take your pick.
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Online Casino Payment Methods

When choosing an online real money casino, the selection of available payment methods is something you should always have in mind. Here are the most common banking options known to UK players with all their perks and some downsides.

Bank Transfer

Bank transfer is the payment method first used for making deposits and withdrawals in online casinos. 

Pros: Its most significant advantage is safety and transparency, and it’s used chiefly by old-school players who like straightforward transactions from their bank accounts to their casino accounts and vice versa.

Cons: On the other hand, if you decide to go for a bank transfer withdrawal, arm yourself with a lot of patience, as these transfers can sometimes take up to several business days.

Also, you’ll have to provide your bank account details so that the operator can verify your account and approve the transaction.

Credit and Debit Cards

Even though many modern online casino banking options have emerged over time, credit and debit cards are still a highly sought-after payment method thanks to the players’ familiarity with the depositing procedure.

Pros: The good thing about cards is that they offer easy deposits and a direct connection to your bank account.

Cons: Your sensitive information is all out in the open, which is why the British government decided to ban credit cards from the online gambling industry back in 2020. So chose Boku.

PayPal

PayPal is the forerunner of e-wallets and a tremendously popular payment method across the globe. Millions of online casino players pick PayPal for their transactions daily, thanks to the security it guarantees.

Pros: When using PayPal, you don’t have to share your bank account information with the casino, and your deposits are almost instant.
What is more, withdrawals are exceptionally fast as well and only take a few business days.

Cons: You won’t find PayPal in all UK online casinos, and when you do, you’ll have to create a separate PayPal account so you can use the provider’s services.

Skrill

In the family of e-wallets, we’ve also got Skrill, a payment method that promises security, support, and instant deposits free of charge.

Pros: Besides being a secure payment method, it allows players to use Skrill 1-Tap, which makes the transactions even faster and hassle-free.

Cons: Nevertheless, bear in mind that online casinos often exclude Skrill users from claiming bonuses and promotions.
There are also some withdrawal fees associated with Skrill, and the amount depends on the website you choose to play on.

Neteller

Speaking of electronic casino banking methods, Neteller is one more option you can use in the UK. In essence, Neteller is very similar to Skrill since your transactions will be safe and fast.

Pros: Available in the UK, safe and fast.
Neteller doesn’t automatically pull the money from your bank account when depositing to online casinos. Instead, you need to have funds on your Neteller account to fund your online casino account.

Cons: Withdrawal fees are to be expected, and you also may be excluded from grabbing certain bonuses.

Paysafecard

If you want to avoid bank transfers, cards, and e-wallets altogether, Paysafecard may be a solution for you. After you purchase this prepaid card, it’ll work independently from your bank account.

Pros: You can pick the amount of money the card will hold and make deposits without revealing your private data.

Cons: Sadly, you can’t use Paysafecard for withdrawing your funds, so you’ll have to pick another method for getting your rightfully earned winnings.

Trustly

Trustly has come to the market relatively late and brought classic bank account transactions back to life. Moreover, it added an extra layer of security and made the process much faster. 

When you select Trustly from the list of available online casino banking methods, you’ll be redirected to the provider’s page. There you’ll simply need to choose your bank and complete the required steps so that Trustly can process the transaction and enable you to play your favourite casino games.

Pros: Apart from being safe, Trustly won’t bother you with creating an account, so you can use the service whenever you need it.
There won’t be any special fees either, and both deposits and withdrawals will be completed in a flash.

Cons: Trustly doesn’t store your bank account details for security reasons, so that you’ll have to type them in every time you decide to use this payment option.

Pay by Phone

Players who are constantly on the go can use this method as it allows them to make anonymous transactions. You can rest assured that your identity will be protected as your deposit will simply be added to your phone bill if you choose this banking option. Of course, before the deposit goes through, you’ll receive a code via SMS. After you confirm the transaction and provide the sent code, the desired amount of money will appear in your account.

Pros: Allows secure anonymous transactions.

Cons: Just like with some other similar casino banking options, you won’t be able to withdraw your winnings using this payment method, and having to alternate between two different payment options can be a deal-breaker for some players.

Apple Pay

If you’re a fan of Apple devices and have them all connected to your bank account, you’ll be able to use Apple Pay for casino deposits and withdrawals.

Pros: Apart from Apple’s top-notch security systems, you’ll also be required to approve every transaction using face recognition or a fingerprint scan.

Cons: The unfortunate news for those currently using Android devices is that Apple Pay is exclusive to iOS users.

Google Pay

In case you’re into these modern, straightforward, and reliable payment options, try Google Pay that, unlike Apple Pay, can be used by both iOS and Android users.

Pros: Google will store your information away from prying eyes, and you’ll be able to complete online casino transactions quickly.

Cons: The only drawback of this option is that you won’t find it on many UK casino sites.

Other Casino Banking Options

Apart from the options mentioned above, there are many other payment methods available to British players. A few more you should check out include:

  • Cryptocurrencies — Cryptocurrencies, led by Bitcoin, have become widely used for online casino transactions due to their speed and security. Furthermore, some casinos only accept cryptocurrencies.
  • EcoPayz — EcoPayz is one more internet wallet that acts as a middleman between your bank and casino accounts. It’s fast, safe, and easy to use, but it charges fees. It’s also not supported by many real money UK casino sites.
  • MuchBetter — MuchBetter is a payment provider that you can also use through an app. Still, as it’s still relatively new, MuchBetter hasn’t yet become popular enough to be found in all online casinos.

Transaction Times

Transaction times can differ quite a lot depending on the payment method you choose. When deposits are concerned, you have nothing to worry about, as they are instant with most online casino banking options.

However, once you decide to withdraw your winnings, you’ll notice the differences between the payment providers. First off, you’ll have to verify your account by uploading requested documents such as ID, utility bill, passport scan, or anything else the site asks for.

Then, the operator has to confirm your identity and process your withdrawal, which will probably take another 24 to 48 hours. Once this is done, you can expect the money to reach your account within the following timeframes (listed from the fastest):

  • E-wallets — Up to 24 hours
  • Cryptocurrency — Within 24 hours
  • Mobile pay — Within a few days
  • Credit cards — Up to five business days
  • Bank transfer — Within seven business days

Fast Withdrawals

Fast withdrawals have been created to help players get their hands on their winnings as fast as possible. By using fast withdrawal payments, you’ll have your money in your hands almost instantly.

Still, you can only get a fast withdrawal by selecting a specific payment method such as one of the many popular e-wallets like PayPal, Skrill, and Neteller. Cryptocurrency transactions are also relatively quick and can deliver your winnings within the same day. Mobile pay like Apple or Google Pay is your next best option if you’re not up for either of the first two.

Online Casino Banking Fees 

In recent years, the majority of online casinos cut out their deposit fees entirely, as they want to attract as many players as possible and allow them to fund their accounts free of charge. Yet, there are still some casinos that charge transaction fees for using specific payment methods.

In terms of withdrawals, the fees depend on both the casino and your selected payment provider. Depending on the nature of the fee, you’ll have to pay a fixed amount or a percentage of your withdrawal upon cashout. The operator can also decide to release you from paying fees as a part of a VIP program or only impose fees after a certain number of withdrawals within a specific period.

Payment Security

The security of your transactions is vital, and it depends significantly on the payment method you pick. 

For example, some casino banking options such as bank transfers or credit cards require sharing your financial details with the casino. Although most casinos nowadays use cutting-edge security protocols, you still won’t be 100% anonymous when completing transactions using these methods.

On the other hand, modern banking options like e-wallets, prepaid cards, mobile payments, and cryptocurrencies operate independently from your bank account. In that way, they offer an additional layer of protection.

Important Factors to Check When Choosing a Casino Banking Method

Now that you know all about the most popular payment methods in the UK, you can weigh down the pros and cons and select the one that best fits your needs. To wrap it up, here’s what you should take into account:

  • Safety and security of your transactions
  • Speed of your deposits and withdrawals
  • Fees associated with transactions

Once you find a banking method that suits you best in all of these aspects, you can start using it for your online casino transactions right away.

What are popular online casino banking methods in the UK?
UK players can use various payment methods such as e-wallets, prepaid cards, cryptocurrency, bank transfer, and more.
Are the deposit methods always available for withdrawals as well?
You can only use some payment methods — like prepaid cards, for example — for deposits. Also, a casino may enable you to deposit using a particular method but skip including it in the withdrawal options.
Can I unlock a welcome bonus with any banking option?
Sometimes welcome bonuses or free spins are unavailable to Skrill and Neteller users.
Can I use all online casino payment methods on both my PC and mobile device?
Yes. Most casinos nowadays have mobile-friendly platforms that allow players to complete financial transactions via any payment method.
What is the safest payment method to use on online gambling sites?
The safest payment methods are those that don’t disclose your sensitive data. These include e-wallets, prepaid cards, and cryptocurrencies.
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