Best Payment Metods for Online Casinos

However, mobile payment solutions are really where the action is at. Led by Apple Pay and Google Pay, they are providing a real solution that combines the security of traditional banking and the ease of use ushered in by modern technology. These payment methods – offering instant transactions without the need for a bank card or bank account – are now most popular among younger tech-savvy gamblers who value speed and facility.

Cryptocurrencies, are still very much at a crossroads in the UK with their use in casinos attracting as much legal and regulatory attention as they are in other markets. Despite a perceived increase in preference for the likes of Bitcoin, Ethereum or LiteCoin, the speculative nature of these digital currencies and some of the regulations behind them – or the lack of – has seen a relatively slow take-up in the UK casino sector.

The UK’s casino payment environment is underscored by a legal framework second to none that prioritises the security of players and responsible gambling. The UK Gambling Commission oversees and regulates payment providers making sure that they comply with a strict code of safety, fairness and transparency. They ensure that payments comply with the Proceeds of Crime Act 2002 and all applicable AML/CTF legislation.

Understanding Payment Methods in the UK

• Visa, MasterCard, Maestro: Debit cards are popular for being worldwide and convenient, while the UK market is dominated by Visa, MasterCard and Maestro. Deposits made in a UK online casino with these cards are always instant, while they also provide the usual array of card security features such as, the latest chip-and-PIN tech and fraud monitoring. Withdrawal times vary though, running from 1-5 business days.
• PayPal, Skrill, Neteller: PayPal was the original e-wallet and is still used by many, while Skrill and Neteller are also both popular online payment systems in the UK. Players in the UK again find quick deposit speed using these systems, while some of the swiftest withdrawal times at any online casino are just one of many benefits, often within 24 hours. E-wallet users should note the transaction fees of such systems and also, that while your deposit may qualify you for a bonus, this is not always the case.
• Bank Transfers (Faster Payments, BACS, CHAPS): Whichever way you look at it, making a direct transaction from your bank account to a UK online casino is as secure as they come; it is also the slowest of all payment methods listed here. Faster Payments is the most popular option, as the payment clears within 2 hours to 1 working day; BACS takes up to 3 business days, while CHAPS is a same-day service, although high-value transactions outside of the banker’s working hours cost more. In any case, this is a preferred option for big-spending high-rollers, rather than the average mobile gamer.
• Pay by Phone Bill (Boku, Payforit): Depositing into your mobile casino account using the sms payment service is an example of a transaction via your phone bill. Secure and ideal for small deposits, very active gamblers would not choose to do this every day of the week, particularly as it does not support withdrawals. Available at UK mobile casinos, you should only be using it only every now and then so that there is not any issue with paying the bill at a later date, you keep on top of your finances and continue having fun for longer. You can always deposit £30 into your casino account and enjoy. Besides, it is too easy to get carried away with this type of SME support – bankroll management exists for a reason.
• Prepaid Cards (Paysafecard): Paysafecard is a prepaid solution which can help anyone control their spending or who do not have a personal bank account. Payments are simple an secular – using a unique PIN – and deposits only; no withdrawals.
• Mobile Payment Solutions (Apple Pay, Google Pay): A mobile payment solution for example – Apple Pay – is highly convenient. Biometric authentication via built-in fingerprint sensor and facial recognition improves additional security and it can deposit into your debit and bank accounts in minutes. However, not all UK online casinos are compatible with this payment facility for both depositing and withdrawing funds.
• Cryptocurrency: When it comes to UK online casinos, cryptocurrency is a much-discussed topic. While faster transaction times and enhanced anonymity are two of cryptocurrency’s biggest draw cards, the regulatory restrictions which make this payment method somewhat of a rarity in the UK probably isn’t. The jury is still out on the legality of cryptocurrency in the UK.

As of April 2020, the UK Gambling Commission banned the use of credit cards to place bets at online casinos. The decision was made in an effort to protect players financially, as well as to promote responsible gambling. However, this does mean that players now need to find new methods to make deposits and withdraw winnings. This comes as the commission and casinos around the country work to ensure the industry is safe and responsible. Anyone who regularly plays at UK online casinos needs to understand the options available to them, in terms of deposits, withdrawals, the law, and what security features online casinos have to play with. In doing so, not only will it likely make for a much smoother casino experience, but one which is also played in a far more responsible manner.

Setting Up and Managing Casino Payment Accounts

Choose Your Payment Method

Choosing the right payment method is not as simple as picking one and going with it. You may wish to consider factors such as your need for speed of transaction, the level of fees, and user friendliness of course. There are many options available including debit cards, e-wallets (Paypal, Skrill, Neteller, among others), some of which accept mobile payments and of course good old fashioned bank transfers. Make your choice and head over to the official website or app to sign up to the service. For most payment types, such as in the image above (Paypal), new applicants will be asked for your full name and address, as well as you bank account details. Would be members will also be required to verify their identity to ensure that they comply with UK gambling regulations. At this point, you can head back over to the casino of your choice and login to your user account. Once you have done so, find the payments or cashier section and you should then see your payment method near the cashout button. Click the deposit button and you will then be asked to enter your details. Follow the on screen prompts to complete your payment, again job done.

Funding Options

• Direct bank transfer is ideal for the larger transaction, allowing users to move funds straight from the bank to their casino account £5000 per transaction is standard. Allow for a period of 3 to 5 days for the cash to hit your virtual account.
• Prepaid cards and mobile payments require the user to preload the card or add the funds to their phone, which proffers a much more controlled and responsible method of play.
• E-wallets, like Paypal, allow for the swift transfer of money in and out of the user account, as long as there are available funds to transfer or a linked bank card.

Security Tips

• Use strong passwords. Virtually every site will recommend that you have a mix of upper and lower case letters and a number and a non-alphanumeric character. Keep the password different to that of your casino account.
• If you have the opportunity to use two-factor authentication, do so. It is a further layer of security that is certainly worth your while.
• Keep checking your accounts for unauthorised or suspicious activity on a regular basis.
• Ensure that your device is secure. This could be an up-to-date antivirus program for a computer or download a free firewall from your app store on to your mobile.
• Do not use public wi-fi for any financial transactions, and use a VPN if you absolutely have to.

Making Deposits and Withdrawing Winnings

Making Deposits

1. Choose Your Payment Method: The UK is packed with payment choices. They include Debit Cards (Visa, MasterCard, Maestro), E-Wallets (PayPal, Skrill, Neteller), Bank Transfers (Faster Payments, BACS, CHAPS), Pay By Phone Bill (Boku, Payforit), Pre-Paid Cards (Paysafecard) and Mobile Payments (Apple Pay, Google Pay). Remember, gambling by credit card in the UK is banned.
2. Set Up Your Payment Account: If you’re using a bank card, or bank transfer, it’s a simply case of entering your details. However, if you’re using an E-Wallet, or a Pay By Phone option, you will need to open an account. That involves identity verification and depositing into your e-Wallet or Pay By Phone account. You shouldn’t need to share anything more than your phone number.
3. Deposit Funds: Once your payment account is set up, your E-Wallet is open, or your prepaid card is loaded, simply go to the cashier, or click ‘Deposit’. Choose your payment type and enter the amount you’d like to fund your casino with. Make sure that it meets the minimum deposit required by the casino, and click OK. Your funds will be available in your account instantly, unless you’re paying with a bank card or bank transfer. In that case, it’ll take up to a few hours.
4. Understand Deposit Limits and Fees: The vast majority of UK casinos have no deposit fees. However, you may be limited as to how much you can deposit using a bank card by your bank, the size of your mobile-phone bill, or the amount of credit available to your Pay By Phone account.

Withdrawing Winnings

1. Verify Your Account: Before you can withdraw, especially the first time, the casino will need to establish that you’re a resident of the UK, of legal age and that you own any cards, accounts or phone numbers that you’ve used at your account. Submit a copy of your photo driving licence, current passport or recent utility bill to confirm your address. To verify your payment account, a copy of your bank statement or bank card will also be required.
2. Choose Your Withdrawal Method: The vast majority of online casinos in the UK insist on you withdrawing with the method that you used to deposit. If that’s impossible – and it usually is with PaySafeCard – an alternative method will be offered to withdraw with. Note that some more traditional UK websites will force all withdrawals to be sent to your bank. This will delay your withdrawal by 3 to 5 days.
3. Request a Withdrawal: Head to the cashier and click ‘Withdrawal’. Fill in your payment account details with the amount. This should be within their minimum and maximum limits. Click OK.
4. Processing Times and Fees: E-Wallets are the fastest. PayPal, Skrill and Neteller are often instant. Bank transfers usually take up to three days at most sites, but it can be five to seven business days. Most UK casinos have no withdrawal fees. The main offender is Dunder.com. They charge £2.50 on all withdrawals, irrespective of the withdrawal method. Again, if your casino website is over five years old, you may be sent a cheque. Casinos love paying out by cheque as a raft of casinos won’t offer an instant withdrawal toggle on bank transfers. However, if your withdrawal is over £10,000, you will need to accept a cheque.

Fast Withdrawal Options

PayPal, Skrill and Neteller are the UK e-Wallets of choice, and are the ideal way to get hold of your winnings as they are the fastest. In addition, using a PayPal-type service in the UK is highly recommended, as the majority of UK casino bonuses will have a maximum win of £5,000 to £10,000. Sending a cheque to receive £10,000 will infuriate you as won’t accept the cheque, and get you to accept the cheque. You will then be claiming the bonus plus the £5,000 to £10,000 on your winnings doesn’t exist, until it arrives in the post. Finally, before you deposit at a UK gambling site, check the bonus restrictions you agree to be bound by when accepting a bonus. Certain UK casino bonuses won’t be triggered if you deposit via certain e-Wallets or other deposit options.

Security, Regulations, and Compliance

Security, regulation and compliance are three key areas of the online casino UK landscape and the most essential for gamblers looking for a safe place to place their chips and for the casino operator who is looking to carve out a place in the market that is becoming more crowded with every new online casino. For the operator, these are the three areas they are most concerned about as it is them who will directly oversee the security and payment measures they put in place and legal framework they have to begin with.

This is where the most important and pivotal aspect of an online casino is concerned – its legal framework. This includes the wide variety of payment segregation, anti-money laundering measures, and other and numerous inherently complex legal requirements that the UK’s online casinos are subjected too. This includes the requirement to hold a remote license from the Gambling Commission, as well as the environmental, data protection, and internet security frameworks that casinos and other listed companies are subject to, in accordance with the Company Act 2006, the Privacy and Electronic Communications (EC Directive) Regulations 2003, and the General Data Protection Regulation (GDPR) respectively.

Security Measures

These are designed to protect financial and personal information and include industry-leading security measures such as SSL (Secure Socket Layer) encryption, a security standard that creates a secure way of transmitting data between two endpoints, and two-factor authentication (2FA), which requires two forms of verification before a user can access their account or makes a withdrawal. These make simple work of ensuring that casino makes simple work of ensuring that illegal access to or interaction with personal and banking information is kept at bay and that a player’s identity is always protected and that they receive fair treatment.

Data Protection

The Data Protection Act and the GDPR makes clear that casinos must put in place technical measures to protect and secure data, including ensuring that it is held, so that it is pretty obvious really, and only accessible to the person who has been given the right to do so. Online casinos are therefore often required to put in place procedures and to directly consult with players prior to, collecting their personal information Data in accordance to the purpose or purposes for which is ‘processed’. As a matter of courtesy, they must make sure that this Data Subject Access Request (DSAR) is only used by an employee to the extent that is absolutely necessary.

Finally, the Gambling Commission must also, among its other duties: enforce a framework for lawful operating of online casinos in the UK; this is under the terms of the 2005 Gambling Act, which is to see that operators are only licensed if they meet its strict operating standards of fairness, integrity, and care of their customer’s need. This requires conducting game fairness testing, ensuring that casino and player payment and withdrawal procedures are fit-for-purpose, and monitoring the industry’s and its gaming software supplier’s compliance with their social responsibility to protect the player.

It’s a complicated matter in the UK gambling sector. Cryptocurrencies are not illegal, but they bring with them countless regulations. As the UK Gambling Commission (UKGC) makes clear, “gambling operators must comply with anti-money laundering (AML) and know your customer (KYC) requirements”. The anonymity provided by cryptos is their main selling point, so there are not many online casinos in the UK that accept them. The ones that do have to adhere to every standard conned up by the regulator. The UK’s online casinos go to great lengths to ensure that every online casino adheres to regulations, and does so 24/7. In an effort to protect players and legitimate operators, the laws translate to insurmountable confirmation that this is an online environment to gamble that is safe and fair at UK online casinos, and that is, as ever, the best recipe for the confidence and trust of players.

Navigating Payment Issues and Responsible Gambling

Online gambling in the UK is on a fast-paced track, and as such, players sometimes encounter payment issues. Transactions may take longer than usual, payments may be declined, or players may have trouble withdrawing their winnings. Fixing the problem right away is the key to a smooth gaming experience for the player and a good name for the industry. The following deals with the resolution process for common issues and highlights the importance of responsible gambling for UK players.

Resolving Payment Issues

• Contact Customer Support: The first thing to do to fix any type of payment issue is to contact customer support at the casino. Most reputable UK online casinos provide a few different means of getting in touch, including live chat, email, and phone. The online casino customer support rep will need to have details on the specific transaction and any error messages that may have been generated.
• Check Payment Method Terms: Different transactions can have different rules for getting put through. Investigating the rules for the specific transaction type in question will reveal things like limits on the transaction size and fees, and slot games. Understanding the specifics is key when sorting out what went wrong so it doesn’t happen again in the future.
• Verify Account Information: Online casinos in the UK have to be very strict about all account details being accurate and up to date. If something is at all out of place, like a misspelling of a name, a wrong number in the birthday, or payment information that has gone out of date, then the transaction is going to be declined. This is the most common reason behind declined transactions, and it’s something that players forget about all the time.
• Understand Casino Policies: More often than not, when a withdrawal gets declined, it’s because the player didn’t understand some policy or another that s/he agreed to when s/he signed up that has to do with payment and/or withdrawal methods. This includes understanding the KYC (Know Your Customer) procedures that many online casinos have players go through the first time they try to cash out winnings, which almost always involves submitting some forms of identification.

Responsible Gambling

The UK takes responsible gambling seriously, and there are a number of different ways that players and online casinos can work together to make sure that problems are kept to a minimum with both the industry and with individual players.

• Set Limits: Players are allowed to set their own deposit limits, loss limits, and wagering limits at many online casinos to help themselves keep from overextending themselves.
• Self-Exclusion: For players who feel like they are no longer in control of their gambling activities, they can opt to self-exclude, which is a voluntary process that blocks the player’s account at the casino for a period of time.
• Access to Resources: There are a number of resources available in the UK to help individuals with gambling problems. Organizations like GamCare, BeGambleAware and the National Gambling Helpline provide support and/or advice for how to deal with or how to get treated for gambling-related problems.
• Financial Management: One of the keys to keeping things controlled when it comes to gambling is making sure that a person has a healthy attitude towards financial management. This includes budgeting for gambling activities as an expense related to entertainment and not gambling with money that’s needed for more important things, as well as not trying to chase losses.

Final Thoughts

Understanding the online casino payments landscape in the UK involves knowing available methods, safety features, and adherence to legal standards. The prohibition of credit cards and the slow path to cryptocurrency are tied to responsible gaming and the need for compliance. Opening and maintaining casino payment accounts, depositing, and withdrawing reflect an environment designed to protect players and ensure a fun gaming experience. The UK Gambling Commission is setting the tone and rules make it a safe, secure environment to play a wide variety of casino games. Security, regulation, and the role of the UK Gambling Commission ensures the financial and personal data of players is safe and secure. Faster withdrawal options and the rise in new payment technology highlights the need for UK players to have their convenience and security options open.

The UK offers players a robust environment to play online casino games and ensure financial transactions will be secure, and safeguard their personal data. With the landscape ever changing, they will need to be aware of the latest types of payment options, new regulations, and others. This way they can make having fun taking part in online gambling in a safe way. Remember always to gamble responsibly and not to hesitate to use the customer support again should you have any payment related issues or questions.

Jessica M. Heckart

Editor & Casino-Expert