The clock is ticking rapidly for British casinos that accept credit cards for deposits and withdrawals. Following a government order made in January, UK casino players will no longer use credit cards to deposit or withdraw money from casinos.
The order will go into effect on April 14th, marking a new phase on what will be considered a legal payment method for casino players. If you use credit cards for payments and don’t know what alternative you can use, this article is for you.
So, let’s jump in and find out what are the best payment methods to use at British online casinos now and in the future.
E-wallets are like credit cards except they don’t come with a physical card. Instead, they exist online through mobile or web applications. Similarly to credit cards, you have to link a bank account to an e-wallet.
You also need to set a security code for safety and provide an email address or phone number to be associated with your account. That being said, nearly all online casinos accept one of these e-wallets:
- PaySafe Card
PayPal is the most popular e-wallet in the world, and it’s popular with the best online casinos. Find plenty of recommendations here as well as learn how these casinos work before you join them. Many of these sites also accept Skrill, Neteller and Paysafecard. So, if you use more than one e-wallet, you’ll find them convenient.
The best part of e-wallets is that they are fast. When you deposit money to a casino via PayPal or Skrill, it reflects in your account immediately. That way, you can start to play slots and poker instantly.
On the other end, most casinos process withdrawals to e-wallets faster than to banks or debit cards. Some do it within one hour while most ensure you get your money within 24 hours.
In this age of Bitcoin, there’s nothing you can’t buy using cryptocurrencies. You could purchase a car, pay school fees or top up your casino account at the comfort of your home. Admittedly, Bitcoin can be challenging to use. But it isn’t rocket science.
The first step toward owning Bitcoins is to find a Bitcoin wallet. Then you need a place to buy crypto using cash. After that, you can use your digital coins to fund your casino account and play your favourite games.
Some online casinos will reward you cordially if you use Bitcoin or an alternative coin for deposits. So, join a platform that appreciates crypto users. For clarity, they accept all these coins in addition to Bitcoin:
- Bitcoin Cash
Compared to e-wallets, cryptocurrencies give you more anonymity. With the right configurations, you can use digital coins to hide your transactions with online casinos.
Cryptocurrencies also offer excellent speed. Most of them complete payments within seconds unless there are system delays. They also feature lower charges. So, if you are worried about losing 1-5% of your cash through fees, consider using crypto.
Although regularly associated with credit cards, debit cards refer to a different payment method. Precisely, a debit card is linked to a bank account whereas a credit card is associated with money borrowed from a credit card company.
The UK is banning credit cards to reduce the number of people who gamble with borrowed money. But because debit cards link you to your money, they remain legal.
Visa, MasterCard and Maestro are the biggest providers of debit cards. So, if you have one of these cards, and have money in your bank account, you can conveniently top up your casino account.
Why use a debit card?
- Widely accepted
- Highly secure
- Faster than direct transfers
- Low Fees
Side Note: Conventionally, people prefer credit cards to debits as a caution against a security breach. That’s because debit cards are attached to your bank account, meaning a hacking incident could wipe out your account balance.
But now that the UK no longer allows credit cards, consider using these safety techniques to protect your debit:
- Use virtual debits—they come with a one-time number for extra security
- Limit the maximum transfer from your bank to your debit card
- Use trusted UKGC licensed casinos
Mobile banking is on the rise, and due to that, there’s an increase in the number of online casinos that support mobile payment apps. Unfortunately, gaming websites don’t accept all renowned companies in this sector. Instead, they accept:
As you can see, these are the same companies in the e-wallet section. Options like Apple Pay, Google Pay and Venmo don’t support deposits to gambling businesses. All the same, PayPal and the rest allow you to fund your casino account directly from an app.
Another benefit of many mobile payment apps is that they also work on the web. So, if you are away from your smartphone, you can still use them through your laptop.
Bank transfers are not known for their speed but they come with exceedingly low fees. SEPA, for example, allows people who live in EU countries to make bank transfers almost free of charge.
Against that backdrop, wire transfer becomes the best payment method when withdrawing money from an online casino. Outside of Europe, wire transfer still trumps most alternatives when it comes to charges.
Of course, it’s up to you to decide whether the 5-10 day waiting period for wire transfers is worth the wait. If there’s an e-wallet that offers low fees, it’s probably a better option since you’ll receive your money faster.
The UK might ban credit cards, but British casino players are in no shortage of alternative payment methods. From debits to crypto, wire transfers and e-wallets, there are more than enough banking options to use.