Time is running out for British casinos that accept credit card deposits and withdrawals, and the clock is ticking faster than ever. Gamblers in the United Kingdom will no longer be able to use credit cards to make deposits or withdrawals as a result of a government directive announced in January.
The order will go into effect on April 14th, bringing in a new chapter in the debate over which payment methods are acceptable to casino players. If you make payments with credit cards and are uncertain of your alternative payment methods, this page is for you.
So, let’s get started and discover which payment methods are today and will be in the future the most beneficial to employ at British online casinos.
E-wallets are similar to credit cards, except that they do not have a physical card. Instead, they are accessed through online-hosted mobile or web applications. To use an electronic wallet, first link it to a bank account, just as you would a credit card.
To protect your account, you must also select and remember a personal security code, as well as provide either an email address or a phone number. However, almost all of the following electronic wallets are accepted at online casinos:
- Secure Card Payment
PayPal gambling establishments
PayPal is the most extensively used electronic wallet in the world, and it is accepted by the vast majority of the best online casinos. Before you sign up with any of these online casinos, you may get a plethora of recommendations as well as information on how they operate. A handful of these sites also take Skrill, Neteller, and Paysafecard. As a result, if you use more than one digital wallet, you will discover that it is more convenient to do so.
One of the most tempting aspects of electronic wallets is their rapidity. When you deposit money into a casino account via a payment method like PayPal or Skrill, the funds will show in your account practically immediately. You’ll be able to start playing poker and slot machines straight now.
On the other hand, most casinos can process withdrawals made to e-wallets faster than withdrawals made to banks or debit cards. Some people can do it in an hour, but the most can ensure you get your money within 24 hours.
Thanks to Bitcoin, there is nothing that cannot be purchased with cryptocurrency in this day and age. You may buy a car, pay your child’s school fees, or finance your online casino account from the comfort of your own home. Bitcoin is notorious for being difficult to work with. It is, nevertheless, not an impossible feat.
If you wish to own Bitcoins, the first step is to locate a Bitcoin wallet. Then you’ll need a place to buy cryptocurrencies using fiat currency. After that, you will be able to fund your casino account with your digital coins and begin playing your favorite games.
Certain online casinos may provide unique benefits if you make a deposit using Bitcoin or another alternative coin. As a result, you should join a platform that appreciates its crypto user base. To avoid misunderstanding, they accept all of the following currencies in addition to Bitcoin:
Complete Bitcoin Cash
When compared to electronic wallets, cryptocurrencies provide consumers greater anonymity. You can conceal the specifics of your financial transactions with online casinos by employing digital currencies and correctly structuring them.
Furthermore, the transaction speed of cryptocurrency is quite fast. Unless there are system problems, the bulk of them complete the payment in a matter of seconds. Furthermore, their prices are less expensive. If you are concerned about losing between one and five percent of your money owing to fees, consider using cryptocurrencies.
Despite the fact that they are sometimes confused with credit cards, debit cards are a distinct form of payment method. To be more exact, a debit card is linked to an existing account at a financial institution, whereas a credit card is linked to money borrowed from a credit card company.
Because so many people gamble with borrowed money, the United Kingdom has decided to ban credit cards. However, because debit cards keep you connected to your money, they are not unlawful to use.
Visa, MasterCard, and Maestro are the three main firms in the debit card market. If you have one of these cards and monies in a linked bank account, you can effortlessly add funds to your online casino account.
What are the benefits of using a debit card?
- The majority has agreed
- Very secure and safe
- A faster option than direct transfers
- Cost Savings
As a side point, people have generally preferred credit cards over debit cards as a preventative step against a security compromise. This is because debit cards are linked to the bank accounts with which they are associated, which means that a compromise might result in the loss of all funds in the account.
However, because credit cards are no longer accepted in the UK, you should consider applying the following security precautions to safeguard your debit card:
- Use virtual debit cards; these cards have a unique number that adds an added layer of security.
- Limit the amount of money that can be sent from your bank to your debit card.
- Use reliable casinos that have UKGC licenses.
Payments using mobile devices
The number of online casinos that accept mobile payment applications has recently increased. This is due to the increased popularity of mobile banking. Regrettably, not all well-known firms in this industry are able to put their games on gaming websites. Instead, they are prepared to accept:
As can be observed, the same companies are represented in both electronic wallet categories. Deposits at gambling venues cannot be made using payment methods such as Apple Pay, Google Pay, or Venmo. As previously stated, you can fund your casino account directly from an app utilizing services such as PayPal and others.
Another advantage of using these apps is that many mobile payment apps also work on the web. As a result, even if you don’t have access to your smartphone, you can utilize the apps on your desktop.
Transfers between banks
While bank transfers are not known for their speed, the fees associated with them are extremely low. People living in EU member nations can utilize SEPA to conduct bank transactions almost without paying a fee.
When all factors are considered, the most advantageous method of making a withdrawal from an online casino is to use a wire transfer. In terms of fees, wire transfers remain competitive with most other payment methods available outside of Europe.
You are the only person who can decide whether or not the five to ten day wait for wire transfers is worthwhile. If there is a low-fee electronic wallet available, using it is definitely the better alternative because you will receive your money faster.
The essential point to remember
Although credit card use in casinos is forbidden in the United Kingdom, players there have a range of other options. There are numerous financial options available, such as debit cards, cryptocurrencies, electronic wallets, and wire transfers.