Types of Casino Banking Method

Players from the United Kingdom have a broad range of options available when it comes to casino banking methods. If you're new in town and want to hear more, we've covered the basics.

Traditional Banking Methods

When it comes to personal finance, the most popular casino options are, perhaps unsurprisingly, debit and credit cards (primarily from Visa and MasterCard, but sometimes others can be accepted too). Fast to deposit and easy to use, the fact that almost everyone has the cards already makes them eminently convenient. Another approach, suitable for high rollers, is the bank wire. The bank wire is slow (often taking days to process), will likely require you to inform your bank, and comes with a hefty fee. Why's it preferred by high rollers? Because it's very secure, and if you're shifting large sums, that can be the most important consideration.

E-Wallets

E-wallets are increasingly popular in both everyday life and for casino banking. Acting as a middleman between the site and bank, e-wallets sometimes come with fees attached but these tend to be small. Some people are wary of sharing personal info with casinos, and although they tend to have robust security the e-wallet can be a good option in such cases. The most commonly available are PayPal, Neteller, and Skrill.

Pre-Paid/Virtual Cards

Often functional for deposit only, pre-paid and virtual cards can be a good option for those who aren't fond of debit/credit cards or e-wallets. The downside can be that withdrawals may not be possible with this method, and they're not quite as widely accepted as the others mentioned so far. Cards of this type include the PaySafeCard.

Bitcoin Casinos

Online gambling sites in the UK are always keen to explore technological innovations, and one of these is betting with bitcoin. It's becoming accepted by an increasing number of casinos, although it's still not on a par with more traditional types of personal finance. One thing to bear in mind is that the cryptocurrency is inherently more volatile than national currencies. Generally, other cryptocurrencies are not widely accepted but this may change in time.

Geographical Restrictions

It's unusual for every listed option of deposit and withdrawal to be available everywhere. Restrictions based on geography can exist due to a site's own preferences, the law of the land, or the payment system itself. Whether you're from the United Kingdom or elsewhere, it can be worth checking that your preferred choice is available locally and that it works for both deposits and withdrawals, as some are only accepted for one or the other.

Players in the UK have a broad range of banking methods when it comes to transferring money into and out of their accounts. When considering which one to pick, consider security, convenience, and any attached fees.