Online casinos have exploded in popularity over the last few years, with many people now preferring to gamble on-screen rather than in a traditional casino. Whilst the added comfort and convenience of this are obvious, some aspects of gambling online may be less than straightforward, particularly when trying to choose the best online payment method to top up your online casino account. At freespins-uk.co.uk we have listed all the best payment methods.
Different features must be considered when choosing a payment option, such as the ease of use, security, transaction fees and the time needed to access funds. Below are the most common payment methods, with some pros and cons of each method.
Debit and credit cards such as Visa, Mastercard and American Express are a very common and popular method. Topping up online with a debit or credit card is extremely quick and easy. It usually involves just entering the relevant card details onto the payment page on the online casino's website, with the option of making large deposits onto the online casino account, which are available almost immediately.
A drawback with this method is that you may be charged a transaction commission, which ranges from 0.5% to 3% and that it is not always possible to withdraw and winnings back onto your credit card.
E-Wallets are very convenient. PayPal is the most widely used due to its ease of use, reliability and fantastic welcome bonuses and rewards. It also has the additional benefit of being able to be used for both deposits and withdrawals from the casino account. There is a very small fee for using PayPal, and it takes a few minutes to create a PayPal account.
Another option is Skrill (formerly known as Moneybookers), which is safe and secure. Funds can be accessed almost immediately with many different currency options. The drawbacks are that not all casinos accept Skrill, and there is usually a fee for both deposits and withdrawals.
Cryptocurrencies such as Bitcoin are the newcomers on the block. Depositing and withdrawing funds to your online casino account is very fast once the Bitcoin wallet is created. As no third parties are involved, there are no transaction fees, transactions are very secure and play can be anonymous. The main downside is that Bitcoin's value often fluctuates as it’s a new currency.
Finally, Boku, the mobile phone payment method is starting to gain popularity for small value transactions due to the ease of use. However, users should bear in mind that Boku cannot be used to withdraw any winnings.