You’ve read casino reviews, evaluated the bonuses, checked out the games, and finally selected the perfect online casino for you. Now comes the moment of truth: making your first deposit. But before you make that first deposit, you have to make sure that you will actually be able to deposit money the way you want.
More importantly, you need to know exactly how to withdraw your winnings when the time comes for it. Many players forget to think about the withdrawal process until it is too late and they find themselves waiting weeks on end to receive their winnings because their preferred banking option wasn’t available.
For the most part, all of the major UK online casinos offer the same banking methods and have similar policies when it comes to deposits and withdrawals. While you can find much of the information you need here, it is always best to contact the casino directly if you have any questions regarding deposits or withdrawals. And as many casinos require that you withdraw your money the same way it was depositing, you want to get all of the answers you need right at the beginning, before you ever deposit a single penny.
Common Online Casino Deposit and Withdrawal Methods
The following three banking methods are by far the most common, and easiest, ways to make a deposit or withdrawal at an online casino. They are not the only methods, as some casinos also accept wire transfers or personal cheques, but as both of those methods involve significant amounts of processing time they are not recommended.
An E-wallet is like an online bank account where you can load money into it with your credit card, debit card, or through a bank transfer. You can then use the account to pay for all kinds of online services and products. E-wallets are a great option because transactions are almost instantaneous, they have low fees, and they are considered to be safer than using debit cards alone. Some casinos even offer special bonuses to players who bank using an e-wallet. Some of the most famous and widely accepted e-wallets include PayPal, Neteller, Ukash, Click2Pay, Skrill (Moneybookers), Paysafecard, and Entropay.
Debit cards are a common way to deposit at online casinos, especially in the UK and European countries, and Debit cards such as Visa Electron and Maestro use money directly to your bank account, and some people may not feel comfortable with having their casino account and bank account so closely linked. That being said, debit card transactions are lightning fast and don’t carry all the extras fees that credit cards do.
By far the most common and preferred casino banking method, credit cards are an easy, fast, and safe way to make deposits. Although they have a few downsides, for instance some cards charge cash advance fees and some casinos do not offer withdrawals back to credit cards, they are still highly recommended.
The Top Three UK Casino Banking Methods
For those of you keen to start playing and don’t want to read through the pros and cons of each kind of banking method, here is a list of the top three banking methods which we recommend:
Tell me why…All of the best UK online casinos accept PayPal; and with a verified PayPal account you can make large instantaneous deposits and withdrawals completely free.
Tell me why…By far the safest method of depositing, and every single online casino accepts. Despite the drawbacks of cash advance fees and inability to take withdrawals on some cards, the benefits of using credit cards are worth it.
Maestro Debit Card
Tell me why…Completely free to use and one of the fastest ways to make withdrawals, Maestro is the most widely-accepted debit card at online casinos. It can also be used to fund an e-wallet for added flexibility.
Fees and Withdrawal Times
The minimum transaction amount and time it takes to receive a withdrawal are different for each of the various online casino banking methods. Additionally, some methods may involve paying an extra fee, though these fees are usually charged by your bank or credit card company and not by the casino itself.
Here is a rough guide of the typical minimum deposit amounts and processing times associated with each of the most popular banking methods:
|Payment Method||Minimum Deposit||Fees||Deposit Time||Avg. Withdrawal Time|
|Debit Card||£10-£20||None||Instant||3-6 days|
|Credit Card||£10-£20||Check with card issuer.||Instant||3-6 days|
|NETELLER||£10-£20||None||Instant||Instant – 1 day|
|Skrill (Moneybookers)||£10-£20||None||Instant||Instant – 1 day|
|£20-100||Check with your bank
|Instant once your funds
have been cleared.
|1-5 Days Working Days|
To safeguard both the casino and its players from fraud, trusted online casinos require players to prove their identity before they make their first withdrawal While this may seem like a bit of a hassle, it is vitally important because casinos need to know that the holder of the account and the person making the withdrawal are actually the same person. Usually, this process involves sending the casino a scanned copy of an ID card such as your passport or driver’s license, along with proof of address such as a utility or phone bill.
For credit card withdrawals, you may also be asked to send a copy of the front and back of your card, though you can blur out the 3-digit security code. Once received, it usually takes the casino about 48 hours to process your documents and send your your winnings.
Fiew Things to Remember and Ask
The following list contains a few of the questions that you should know the answers to before you make a deposit at an online casino. Check the banking section of the casino’s website to see if you can find this information, and if anything is left in doubt, don’t hesitate to contact customer service and ask them directly.