Anyone new to online gambling might believe that you need a bank account to gamble at online casinos. To enjoy the thrills and anticipation part of playing for real money at online casinos, you actually need a way of transferring money to your account at the casino. The number of payment choices is varied and there are multiple options when it comes to quick, trustworthy and efficient ways to deposit and withdraw funds.
Online Gambling Sites
Top online gambling sites offer a wide variety of deposit and withdrawal methods with detailed information regarding minimum and maximum deposit/withdrawal limits in terms of funding your casino account. The one thing you do need whether you play via your mobile devices, desktop, at one or multiple online sites is a safe, secure method to conduct online gambling transactions.
Online Account Funding via Safe, Secure & Reliable Payment Methods
Join us as we explore the best payment options and pay special attention to what is important to UK players in terms of selecting a payment service provider. Let’s look at all the options, ease of use, currencies accepted, transaction costs and withdrawal periods.
Reasons to Avoid Depositing with a Bank Account
The larger banks in the UK generally do not accept gaming transactions. Although, one of the main reasons to not use your bank account to fund your casino betting account, or betting shop activities, is that lenders do compare the amount of money you spend gambling to your income which could prevent you from getting a mortgage. Once you use your bank account at a betting or gambling site the transaction shows on your statement, whether it be a deposit or even winning withdrawals.
Banks charge a fee equal to 3% up to 4% of the amount you transfer via Bank Transfers and to make a bank transfer you need the full name of the receiver, a 6-digit sort code, payment reference and an 8-digit account number. The transactions show on your bank statement, which is not favourable for players preferring their online betting to remain private.
Debit Card Use At Casinos
Online casinos prefer refunding your winnings via the same method used to fund your account. Deposit via bank accounts or debit cards that account or card must be in your name to withdraw via it and you need to provide the casino with your bank account or debit card details. This is one of the main reasons why players prefer alternative banking methods.
Payment Methods that Allow you to Play without a Bank Account
Paysafecard
Paysafecard is one of the most popular online payment methods available to players wishing to deposit funds at UK Gambling Commission approved casinos. It is also the most preferred by players not comfortable with sharing their debit or credit card details.
Paysafecard is one of the most used online sports betting sites and currently provide payment services to more than 3 million people while operating in over 50 countries. Anonymity is equally important to sports bettors and casino members, which is why the instant payment option continues to enjoy huge growth.
Paysafecard is a simplistic yet most convenient payment solution accepted at top UK betting shops, and prepaid card is available in a variety of options ranging from £10 up to £100. Instead of sharing credit card, debit card or bank details over the internet, only the 16-digit PIN is needed to fund your online bookmaker or casino account. Payments are made with no connection to bank accounts, which makes it one of the safest ways to deposit.
The entire Paysafecard process is free of charge and only a few details are necessary during registration. Other huge benefits include speedy transactions, great security, most UK online retailers accept payments via Paysafecard, and it’s the best way to control your spending. Due to recent UK Gambling Commission restrictions on the use of credit cards such as MasterCard to fund bookmaker and online casino accounts, Paysafecard became one of the top choices for instant deposits in online gambling.
Registering with Paysafecard is quick, the prepaid card functions without a bank account. Getting started is to find your nearest outlet to get your prepaid code, upload the purchased prepaid codes and you’re reading to fund your online betting account or casino online account. The Paysafecard app ensures users have full control during travels of their online payments, currently, you can get your vouchers at more than 650,000 sales outlets across the globe.
Trustly
Top bookmakers such as William Hill and Paddy Power gladly accepts payments via Trustly, which is a reputable and ideal betting payment option. Most importantly it prevents sharing personal and sensitive information via the internet. E-wallets make it possible to deposit and withdraw monies quickly and easily.
Sports betting sites accepting Trustly feature a wide variety of banking methods including Debit Card, Google Pay, PrePaid Cards, Coral Connect, MasterCard and others to ensure safe transferring of funds. UKGC restrictions prevent UK players from using credit cards to pay for gambling or betting. This includes using credit cards to fund debit cards, eWallets or the purchase of pre-paid cards.
The benefit of using Trustly as an alternative payment method is that it stops you from sharing your banking information when it comes to depositing money or withdrawing your win money. It is easy to use and 14 high street banks in the UK has agreements with the payment service supplier.
Trustly is a legal form of payment for UK players using it to fund their online betting account or casino online account at a UKGC licensed operator. The payment method comes in handy when you wish to transfer money via your mobile banking app when you use a secure connection.
Revolut
Revolut, founded in 2015, is a UK financial technology company specializing in banking or payment services. It’s a one app solution for paying and getting paid without the hassle. The benefit of using this service is that you transfer money in 29 different currencies and with the pre-paid debit card withdraw your funds in over 120 countries. The payment card and banking app is designed to cater to anyone that lives a global lifestyle and need the flexibility not offered by regular banks.
Revolut never has access to your bank account login or anything apart from the payment approved by you. The approval is a secure link hosted via banks and transfers take around one up to three days to appear in the recipient’s account.
Registering for a Revolut account is straightforward, it starts with downloading the banking app, adding your phone number, setting your personal password and the account is verified via a 6-digit code. Details required are basic and include your email address, home address, date of birth and name. The benefit of using Revolut is that you can make up to 50 transfers in 24 hours or up to 200 transfers in a 7 day week.
Revolut is accepted by some of the top online casinos such as Dream Vegas, Duelz Casino and Rizk Casino listed on TheSlotBuzz. This is a great alternative to online banking or using your debit card to pay money into your account at online bookmakers or online slots sites.
Pros and Cons of Gambling Online Without a Bank Account
A lot of changes are taking place and that includes banking, you may or may not be aware of banks now focussing on transactions related to gambling. The reason behind this is eligibility should you apply for a loan. It seems that banks offer services such as loans or credit extensions easier or with greater preference to individuals that do not use their banks to fund any form of gambling.
If you’re planning to apply for a mortgage or loan from your bank, they could base their decision on the amount of gambling and betting-related transactions appearing on your account. The great news is that every top betting site and online casino offers plenty of ways around this situation via trustworthy, reliable alternative payment methods.
Pros
EWallets
A great way to send money to a licensed bookmaker or casino since it provides you with privacy. Banks can’t track your spending via top e-wallets, which means acceptance for mortgages or loans is higher.
ApplePay
Superfast way to fund your account at any betting site, free, convenient and supports a huge range of bank cards.
Google Pay
This payment method is one of the faster options when you want to deposit money into your online betting or casino account. Its supports many bank cards and is one of the most secure and trusted payment methods trusted by every Android customer.
Bitcoin
Quick transactions to and from bookmakers, unregulated, makes it possible to place a bet quickly and withdrawal of winnings are fast and easy. Plus it is in no way connected to your bank account.
Boku
One thing that stands out for a customer searching for an alternative way to deposit is how convenient this payment option is, which only requires your phone or mobile number. It eliminates any bank detail sharing when you register with online bookmakers and there are no fees.
Cons
EWallets
Transaction fees vary according to the wallet you choose and at times it might require two transactions depending on the amount you wish to transfer to betting or gambling sites.
ApplePay
Not usable as a withdrawal method at any online betting shop, it’s exclusive to Apple device users and at some gambling and betting sites excluded from welcome offers.
Google Pay
This payment option is great for bets although it is not widely accepted at UK bookies and if your bet wins, withdrawals are not supported and while it’s exclusive to customers of Android it might be excluded from some website promotions.
Bitcoin
Still relatively new and unknown, it provides any customer with anonymity although it is volatile and not yet available to place bets at all sites.
The Slot Buzz – Final Word
The list of alternative, safe and most reliable payment options continue to increase and a great way to test and find the best payment solution for you is to deposit at one of the trustworthy, UKGC approved casinos listed at TheSlotBuzz and you’ll be eligible for a huge welcome bonus if you’re a new member.
