When deciding which of these payment services to use you might simply opt for the most convenient method of deposit. However, it is certainly worth considering other factors. Like deposit fees – yes, some casinos still charge (!) - withdrawal processing times, bonus eligibility, and how widely an option is available. Here is more information to help make your decision.
Payment Processing Times
Withdrawal times are a contentious point for casino players in the UK. In the early days of online gambling operators held back funds over a ‘pending period’ before they were processed to a bank card, eWallet or other service. Many gamblers would reverse the withdrawal back into their casino account during this time, ultimately wagering and losing the funds. Nice for the operator, but not for the player.
The UK Gambling Commission has now put an end to this practice and withdrawals are now processed much quicker, usually in under 24 hours, sometimes in less than 1 or 2 hours. However, the story doesn’t end there. The speed at which your funds become accessible after they leave the casino account varies from one payment option to the next. If you want to get your hands on your winnings quickly, its something to think about.
These are the average withdrawal times for each service.
- Paypal, Skrill, Neteller, MuchBetter, Trustly – instant
- Debit Cards (Visa, Mastercard, Maestro) – 1 to 5 days
- Apple Pay, Google Pay – 1 to 3 days
- Bank Transfers – 1 to 3 days
- BOKU – not available
Deposit and Withdrawal Limits
As any regular casino player will know, deposit and withdrawal limits can vary from one site to the next. The same is true for payment services. If you are looking to make large deposits then it is usually best to stick with debit cards although some eWallets, and in particular Paypal, allow for larger transactions. Trustly and direct bank transfers are also suitable for funding bigger amounts.
At the other end of the scale, the BOKU payment service restricts players to just £30 in deposits per day, whilst Paysafecard sets limits of just a few £100 daily. If you are looking to manage your gambling budget then these can be a good solution as they prevent you from making impulsive and irregular payments.
Bonus Eligibility
You should also consider bonus eligibility when choosing which payment service to use. Online casino operators work hard to ensure that their promotional campaigns are not open to abuse from cynical customers looking to take advantage of loopholes in the system to create multiple depositing accounts. Historically, eWallets options like Skrill and Neteller have facilitated this and they are now regularly excluded from bonuses as a result. Always check the terms and conditions of any offer you want to claim to be sure your deposit will be eligible. And if you are looking to take the maximum hit from a bonus package then remember that you will need to use a service that lets you make the maximum deposit.
Trust, Security and Personal Data
There is always a risk, however small, that when you make a payment online your account will get hacked and your personal details compromised. Fortunately, all payment methods available at UK casinos are subject to high level audits and operate under strict regulations set out by the Financial Conduct Authority to ensure that your money is safe.
For the ultimate security then we recommend that you choose an eWallet because these do not require you to share your personal bank details with the operator each time you deposit. Instead, you simply use your eWallet log in details to verify the transaction.
Transaction Fees
Finally, it’s worth considering fees when choosing a payment service to deposit with. Whilst most operators in the UK do not pass on the cost of processing transactions to their customers, some do. In particular we see this practice at Aspire Global sites which can charge as much as 3.1% for Paypal and Debit Card deposits. You can find out if a slot site will charge you by reading our reviews and scrolling through to the ‘Cashier Options’ section.
We also recommend that you always read the terms and conditions of any site you play at to be aware of any hidden costs before funding your account.
