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Banking

Modern online casinos offer a wide range of payment methods. From debit and credit cards, to pre-paid vouchers, eWallets and even cryptocurrencies, this guide tells you everything you need to know.

    If you’re here, then the chances are that you’ve already made up your mind to play at an online casino.

    But before you can start playing at your chosen casino you’re going to have to make a deposit and perhaps more importantly, withdraw your winnings. While this may seem like a fairly trivial aspect of your casino experience compared to games, bonuses and jackpots, it’s very important and its significance is often overlooked. Overlooked, that is, until you get frustrated about not getting paid your winnings quickly enough or get an unexpected charge from your credit card issuer.

    If you want to deposit quickly and easily and withdraw equally as fast, it’s important to know the facts. While most casinos generally offer the same deposit and withdrawal options, the speed of the withdrawal does vary. So if you’re not sure and the answer isn’t on Jackpot.co.uk, check with the casino before you make your deposit. To see which casinos accept the payment method that you would like to use, simply head over to our online casino reviews and consult the banking section of your chosen casino.


    Jackpot’s Top Three Casino Banking Methods

    Don’t have time to read this casino banking section? No problem, we’ve selected our top three deposit and withdrawal options. These are…

    • Maestro Debit Card
      Why? No fees charged for withdrawing by either the casino or card issuer. Mega fast withdrawals and you can also use it to load eWallets free of charge.
    • Paypal
      Why? Get your account verified to get seamless and feeless deposits and withdrawals. High deposit and withdrawal limits. All the UK’s top casinos accept Paypal.
    • Credit Cards
      Why? You can’t always withdraw back onto your card and there are fees, but the versatility they offer outweighs these drawbacks.

    Six Things to Remember and Ask

    • Because of money laundering laws, casinos often don’t allow you to deposit using one method (card or eWallet) then withdraw onto another different card/wallet.
    • If you do win more than you deposited, the casino may return your original deposit to the card or wallet you used to deposit and the rest to your preferred method: a card, eWallet, or in most cases a cheque or bank transfer.
    • Some casinos will try to charge you a small fee for withdrawing via cheque. Haggle with them, we don’t believe you should have to pay this.
    • Regrettably, some credit card issuers charge a higher rate of interest if you use your credit card to deposit. It’s always best to check with your bank first.
    • On your first withdrawal don’t be surprised if the casino asks you to send them some form of identification such as a copy of your passport and a utility bill. It’s standard practice and you’ll only have to do it once per casino.
    • As such, the withdrawal times that you see on jackpot.co.uk and the casino sites themselves, refer to the time it would take for your winnings to get to you once your identity has been verified.

    Casino Depositing and Withdrawing Methods

    There are three main ways to deposit into and withdraw from your online casino account. We’ve listed these below. Cheques and wire transfer options are also available but take longer to process, are less versatile and attract fees so we don’t cover these in detail.

    Credit Cards

    Perhaps the most widely used depositing option available. Credit cards offer a simple and flexible way to deposit into all online casinos. There are some drawbacks such as cash advance fees and not always being able to withdraw back onto the card you used to deposit but for the most part, the ability to spread payments and the safety that credit cards offer outweigh these.

    eWallets

    eWallets are accounts that can be set up online and paid into from your bank account, credit and debit cards, and even at some retail outlets. The main benefit is that you get a lot more control over what you spend and (some people think) they are safer than using your debit or credit card. Most casinos offer special eWallet bonuses.

    Popular eWallets include PayPal, NETELLER, Skrill, Ukash, Entropay, Click2Pay, Paysafecard, Ecash, clickandbuy and ECOCard.

    Debit Cards

    A direct link from your bank account to a casino may not be your cup of tea, but if you have a Maestro card and don’t want to pay any credit card fees, then use it. When used in conjunction with an eWallet such as NETELLER, there are no better options.


    Fees, Deposits and Withdraws

    Among the most important aspects of payment methods is the time it takes for funds to be credited to your account and the minimum deposit amounts. But of course, the most important feature is how long it takes for your winnings to make their way to you.

    Below is a table of the most commonly used payment methods along with all of the most important information that you’ll need to know before depositing:

    Payment MethodMinimum DepositFeesDeposit TimeAvg. Withdrawal Time
    Debit Card£10-£20NoneInstant3-6 days
    Credit Card£10-£20Check with card issuer.Instant3-6 days
    PayPal£10-£20NoneInstant3-6 days
    NETELLER£10-£20NoneInstantInstant – 1 day
    Skrill (Moneybookers)£10-£20NoneInstantInstant – 1 day
    Ukash£10-£20NoneInstantN/A
    Wire Transfer/Bankers Draft£20-100Check with your bank and casinoInstant once your funds have been cleared.1-5 Days Working Days

    ID Verification

    In order to protect players and themselves from theft and fraud, almost all online casinos require you to prove your identity when you make your first withdrawal. All you’ll need to do is send along documents and your withdrawal will usually be processed within 24 – 48 hours.

    These documents can be photographic ID such as a passport or a driving licence and a proof of address: a recent utility bill or bank statement. If receiving a withdrawal by credit card, you may also be asked to send a copy of the front and back of your card (for peace of mind you may with to obscure the 3 digit number on the reverse side).


    Credit Cards

    There were 165.3 million credit cards active in the UK in 2010 and these were responsible for 46% of the 717 million card payments totalling over £54 billion.

    Reasons to Use

    • Quick and easy.
    • All online casinos accept credit cards.
    • No charges from online casinos.
    • Multiple cards can be registered.
    • Spread the cost of gambling online.
    • Funds will be returned in the unlikely event of the operator going bust.

    It’s no surprise then that credit cards are an extremely popular and versatile method for depositing into an online casino.

    If credit cards are the common choice of that many people, then there must be a reason. Credit cards offer a high level of convenience by allowing you to deposit instantly and safely and (depending on your card), you can spread the cost of gaming over a few months. Furthermore, many casinos allow you to register multiple cards on the same account allowing you to spread the cost of gambling across different bank accounts. OK, so they maybe very versatile but you still need to have a grip on how much you spend. Never lose sight on the budget that you’ve set yourself.

    Advantages of UK Credit Cards

    In the UK, MasterCard have regulations that only allow casinos to return any money back onto MasterCard credit cards issued in the country. So for non-UK MasterCard holders you will have to withdraw onto an eWallet, cheque or if you wish to pay a small fee, wire transfer.

    UK-issued credit card holders also benefit from the fact that, in the unlikely event that a casino goes bust, they’re entitled to receive their funds back. This is thanks to Section 75 of the Consumer Credit Act which allows customers to claim £100 – £30,000 back should there be a breach of contract or misrepresentation by the supplier (casino).

    Reasons Not to Use

    • If you’re not good a budgeting, avoid using credit cards. It may end in tears.
    • You may incur higher interest rates from some card issuers.
    • You can only withdraw funds back onto MasterCards that are issued in the UK.

    Casino Credit Card Fees

    Like all good things, there’s always a flipside… If you use your credit card to deposit at a casino, some issuers will charge you a slightly higher interest rate. It’s often the same rate you get for withdrawing cash from your credit card and called a ‘cash advance fee’. But it’s always best to check with your credit card issuer to see if they do charge and if so how much. Jackpot.co.uk research shows that the following credit card issuers charge higher rates:

    • RBS (excluding Platinum accounts)
    • Barclays (Barclaycard)
    • Halifax
    • NatWest
    • Nationwide
    • Santander

    Debit Cards

    Debit cards are the most common form of payment method both online and offline. 44.9 million people using them in the UK – a figure that makes up 89% of adults in the country. Therefore it’s no surprise that almost all online casinos accept them.

    Reasons to Use

    • Maestro offers the lowest deposit and withdrawal rates of any payment method. It’s free!
    • Great way to load up any eWallets you may have.
    • You can avoid larger fees associated with using credit cards.
    • Larger deposit limits (if any) making it ideal for big players.
    • Accepted by all online casinos.
    • Multiple security measures in place.

    The main benefits of using debit cards are the speed at which they can be made, the cost (it’s free), and the simplicity of the process (just five bits of info are needed).

    When you compare debit card with credit cards there are a few differences. Unlike credit cards, debit cards are not covered by the Consumer Credit Act so if a casino does go bankrupt you won’t see your money again. This is extremely unlikely to happen, especially as plenty of UK facing casinos are now publicly listed. When was the last time you heard of a casino going bust?

    If you are an avid points or air miles collector you’re wasting your time with debit cards. This isn’t necessarily a big deal but is something to consider if you’re going to be using them regularly.

    Debit Cards and Online Casinos

    If you have one, we recommend you use Maestro when gambling online. While some charges apply when using other cards, they don’t with Maestro. For example, topping up an eWallet such as NETELLER with MasterCard Debit, VISA Debit and VISA Electron will incur charges of around 1.75%, whereas Maestro users are charged nothing.

    Unlike some credit card issuers who charge you a ‘cash advance’ interest rate to deposit in an online casino, there are no such charges with Maestro.

    Using a debit card means that you’ll stay in the black as you can only deposit money that you’ve already got. Checking your bank statements provides you with an easy way to keep tabs on how much you’re spending.

    Reasons Not to Use

    • No fund protection.
    • Some people aren’t keen on having a straight bank-to-casino payment method.

    Plus, for an added layer of protection, most casinos allow you to impose deposit limits. These special limits have to be requested and can be daily, weekly and monthly. The casino won’t allow you to go over these limits and if you chose to remove them they’ll give you a cooling off period to make sure you’re not making any rash decisions in the heat of the moment.

    Securing Your Card

    Like paying for anything online you have to follow some basic security rules:

    • Don’t hand over valuable card or bank information by email or telephone.
    • Keep your cards and bank details in a safe place.
    • Never lend your card to someone else. Not even a family member.
    • Print out the data of all transactions and keep it safe in case you need to query something.
    • Check statements for payments that you haven’t made.

    Finally, it’s worth bearing in mind that when using a debit card, the name on the card must match the name of the casino account holder exactly or the transaction may be stopped.


    NETeller

    Having been around since 1999, Neovia Financial PLC, or Neteller as they are more commonly known, provide online payment services tailored to online casino players.

    Their main product is their ubiquitous eWallet however they also offer a prepaid Mastercard. For the sake of this article, we’re only going to look at the eWallet.

    NETELLER – The Casino’s Best Friend

    The NETELLER eWallet used to be very popular with US casino players and at one time processed a staggering 80% of all online gambling payments. However, the introduction of UIEGA meant that in early January 2007 NETELLER stopped taking payments from players based in the US. Fortunately, the company’s eWallet can still be used in more than 180 countries across the world and whilst not as popular as it once was, still offers a trustworthy reliable service and moreover, is accepted by 99% of all online casinos.

    Reasons to Use

    • Fast and easy withdrawals and deposits.
    • It’s the most widely accepted eWallet for a reason.
    • Special bonuses often available.
    • Regulated by FSA.
    • Depositing into NETELLER by bank transfer and Maestro is free.

    An Affordable Alternative

    NETELLER describe themselves as an affordable alternative which is a fair comment considering that it’s free to deposit and withdraw at casinos. However, if you don’t know what you’re doing you can incur unnecessary charges when loading up the eWallet from credit cards or other eWallets. We would always recommend depositing into your NETELLER account by local bank deposit or Maestro and withdrawing by bank transfer.

    Other little fees that can creep up on you include an inactive administration fee which is triggered if you don’t use your account for 14 months. Avoiding this is pretty simple; just make some form of transaction, even if it’s only withdrawing some funds.

    Then there’s the foreign exchange fee which stands at 2.95% and comes into action when you make a transaction that requires currency to be converted. This is pretty steep considering that VIPs only pay 1.5% so we would advise avoiding said transactions where possible.

    Reasons Not to Use

    • Can be a bit of a hassle to get your account verified.
    • Don’t deposit funds into a casino using a different currency from the one your account is in. You’ll get whacked with an additional fee.

    NETELLER Bonuses

    An added bonus (literally) is that some casinos will provide you with a small bonus when you use NETELLER to deposit. It’s usually around 5% but can go as high as 15%.

    NETELLER depositors benefit from strong fraud protection enabled by the use of encryption as well as assurances that details won’t be shared. Also, as the company are authorised by the Financial Services Authority, you can trust the staff at NETELLER when they say that your money is kept securely.

    Proving You Are Who You Say You Are

    In fact, their security is so strict that you have to send them documents to prove your identity before your account is even accepted. This can be annoying at first but you only have to do this once.

    Once your account is verified you can make much bigger transfers with a limit of £32,000 on single transactions – perfect for when you’ve had that big win.

    NETeller Charges

    Money In

    MaestroFree
    Local bank deposit
    Free
    Ukash
    1%
    Santander
    1.5%
    Mastercard
    1.75%
    Visa
    1.75%

    Money Out

    Money Transfer (other NETELLER accounts)Free
    Bank transfer£5.90
    Cheque
    £5.90
    Bank draft
    £5.90 – £19.60

    PayPal

    Among the first generation of eWallets was PayPal, a brand that has gained considerable recognition since its formation in 1998 and is considered by many to be the king of all eWallets.

    Best known as the form of payment used on eBay, the company was actually bought by the online auction site in 2002 and since then has grown significantly. Around the turn of the century, PayPal was one of the most popular payment methods for casino players worldwide. Despite this popularity, in 2003 PayPal stopped processing payments between gambling sites and players.

    However, in 2010 PayPal saw the light and reopened to online gamblers exclusively in countries where the activity is legal, the UK is of course one of them.

    PayPal Casino Fees

    Casinos will not charge you any fee for depositing from and withdrawing to your PayPal account. Credit and debit card fees can also be avoided by linking your bank account directly to your PayPal account. Verifying your account will also remove any deposit and withdrawal limits, so you can deposit and withdraw as much and as often as you like. If you don’t verify your account and you use a debit or credit card to fund your casino account, the fees range from 1.4% to 3.4% plus a small fixed fee of £0.20.

    One last tip, always ensure you deposit into your chosen casino using the same currency that your PayPal account is in. If your PayPal account is in British pounds, deposit in British pounds. If you don’t, then PayPal will charge you the interbank exchange rate which fluctuates, meaning you never know where you stand.

    Reasons to Use

    • One of the safest payment methods around.
    • Only detail needed by online casino is email address.
    • No fees for verified accounts and relatively quick withdrawal process.

    Setup is Easy

    To set up a PayPal account, all that’s required is to register a bank account, credit card or debit card. Once you’ve paid some money into your account then an online casino only needs the email address registered to that account in order to make a deposit.

    One thing to bear in mind when using PayPal is that any money withdrawn must be withdrawn back to the same PayPal account. This is to counter any potential money laundering. Almost all other eWallets have to do this so it’s nothing new.

    Withdrawing back into your PayPal account certainly isn’t the worst thing in the world. Millions of online businesses accept it as a payment method and you can send money to others as well as transfer it into a bank account.

    Reasons Not to Use

    • Only available for use with gambling sites in eight countries.

    Hot on security

    Although most of us have probably received PayPal spam (or was that scam) emails, the risk is extremely low and when it does happen, PayPal are red hot on the issue and matters are resolved extremely quickly – yes we do speak from experience.

    As with using all forms of online payment methods it’s important to follow a few golden rules. These include ensuring that you’re using an up-to-date browser, using a secure trusted email account (Gmail is one), frequently change all your passwords and don’t use the same password for all your accounts. And for PayPal make sure you use the PayPal security key. The security key allows you to double-lock your account and reduces the already slim chances of having your details or money stolen.


    Skrill

    Despite the very questionable name change, Skrill or Moneybookers as they used to be known, remain an extremely popular and versatile payment and withdrawal method, particularly in mainland Europe.

    Being used by more than 21 million people, Skrill works with more than 100,000 online sites to allow you to deposit and withdraw quickly and easily. Founded back in 2001, Moneybookers, as it was then called, started by providing casino and sportsbook players with a safe, easy to use and cheap way of transferring funds to and from gambling accounts. The company now work with over 100,000 sites right across the spectrum from casinos to large shopping sites.

    Reasons to Use

    • Low fees and free to deposit and withdraw at the casino.
    • Skrill adheres to strict FSA regulations.
    • Also offers mobile payments.
    • Safety of your financial details is guaranteed.

    What Does it Cost to Skrill?

    Casinos won’t charge you for using Skrill to deposit or withdraw. However, Skrill themselves will charge a small fee when you deposit into and withdraw from your Skrill account. The best advice we can give is to deposit into your Skrill account using a Maestro debit card and withdraw using bank transfer or Visa. This way you attract the lowest fees.

    From the UK, it’s free to deposit into your Skrill wallet via bank transfer, Maestro and cheque. However, using Visa, Mastercard, JCB, Amex and Diners Club will attract a 1.90% fee.

    Reasons Not to Use

    • Can take up to two days for new accounts to be verified.

    To withdraw from your Skrill account back to you via Visa and bank transfer there’s a flat fee of £1.41 and by cheque it’s £2.74.

    Skrill claim that many of their competitors make the online casino depositing process too complicated and as a result they’ve come along to keep it as simple as possible. And we have to agree. Some players have complained of delays of up to 48 hours when waiting for their account to be verified and pass the security checks, but the ease of use and low fees balance this out.


    Ukash

    Ukash takes a slightly different approach to other casino friendly eWallets in the way it uses an anonymous voucher system to allow you to deposit into your chosen online casinos.

    Reasons to Use

    • Anonymity.
    • You don’t need a debit or credit card to deposit. Cash only is fine.
    • Can be topped up in thousands of high street shops.
    • High security levels.
    • Ukash won the Queen’s Award for Enterprise in 2012.

    The Ukash system allows you to hand over payment (either cash, eWallets and debit cards), in thousands of shops up and down the country or via mobile phone, in return for a unique 19 digit voucher code that you then input into the casino’s cashier. As soon as you’ve added credit to your Ukash account, you then redeem it in the casino’s cashier and you’re off. In order to meet Financial Services Authority guidelines, Ukash limit their vouchers to £200, but you can hold up to five at one time, leaving you a total of £1,000.

    Ukash Casino Fees

    As you would expect, there’s no charge for depositing using a Ukash voucher. In fact, there aren’t any charges when using Ukash, which does make you wonder how they make their money. We have to assume that it’s from other parts of the business as they also do currency conversions, mobile phone top ups and a credit card.

    More About How the Voucher System Works

    If you don’t want to deposit all of the money on your voucher you’ll receive a new voucher code for the remaining money left on your old voucher. And the fact that you can use cash means that the whole system is anonymous.

    Reasons Not to Use

    • You can’t withdraw back onto a Ukash card. Wire transfer and cheque are the other options.
    • Cheques are used as default withdrawal method.
    • Not ideal for players who deposit large amounts. You’re better off with credit or debit cards.

    There’s Always a Catch

    There is however, one drawback. You’re unable to withdraw money back onto your Ukash voucher. If you did deposit with Ukash then most casinos will automatically send you a cheque with your withdrawal funds, which isn’t everyone’s preferred payment method. However, some casinos like William Hill Casino will also offer to pay you via bank transfer.

    The main reason for Ukash’s recent success is the high level of security that it offers to its users. This security mostly comes through the ability to remain fairly anonymous when using Ukash vouchers. All you do is type in a code to deposit money at casinos – you don’t even have to share any personal or financial details with Ukash.

    They also provide assistance when it comes to assuring that the site or online casino you’re looking to deposit at is safe. This is done with a list of genuine partners on their website that includes many of the casinos listed on Jackpot.co.uk.