E-wallets have made online transactions easy, including activities like online gambling. Online casinos use various payment methods, of which most are e-wallets. If you play with a live casino in the UK, you’ll certainly come across many of these common e-wallets. Read more live casino payment options here.
One of the aspects to consider when looking for reputable casinos is the number of secure payment methods the casino uses. You can look out for the names of these e-wallets that are popular with good online casinos.
What are E-Wallets?
E-wallet is short for electronic wallet. It’s a virtual wallet where you can store funds and make transactions online. Some e-wallets will allow you to link bank accounts or cards, while others won’t store any personal information.
The type of e-wallet you choose will depend on how much information you prefer to give. Most e-wallets work on both desktop and mobile devices. Various services also have downloadable apps to make payments easier. E-wallets come with various benefits, including security and speed of transactions.
Here are some of the most common e-wallets that online casinos in the UK use.
Neteller is an e-wallet you’ll see with almost every reputable casino. It’s been around since 1999, so it has a long history of excellent service. You can use it in more than 15 languages. The services guarantee the safety of online transactions.
To use Neteller, you must provide basic information, like your email address, date of birth and gender. You’ll be able to choose the currency with which you’d like to pay. The service itself is free for users.
To make payment to your favorite casinos, you first deposit money to your Neteller account, from where you can then pay the casino. If you withdraw from your casino account, it will be paid into your Neteller account.
If you’re looking for a UK-based e-wallet, you’ll be happy to know that Skrill was established in the UK in 2001. The service has different ways to send money, including email addresses, phone numbers, or bank accounts.
Skrill has a fee system based on the type of transactions you make. It costs between 1% and 5% of the amount you transfer. To open an account, you have to supply certain personal details. There are no fees involved in opening an account.
Another e-wallet that’s been around for more than 20 years is ecoPayz. Here, you can open a free account with minimal information and make payments across the globe. Many payments through ecoPayz are free, although there are fees involved. These can be a flat rate of up to £7 or a percentage.
You can register for different tiers on ecoPayz, each with its own benefits. The classic plan is limited in payment options, while the highest plan, the VIP plan, offers a wide variety.
Trustly allows you to make payments directly from your bank account. It acts as a middle-man in the payment process, making your online transactions more secure. Trustly is different from other e-wallets because you don’t have to register an account to use the service.
The company also never stores any of your personal information. There are various benefits to using Trustly over other e-wallets, one of which is the SSL encryption all payments have. Another benefit is the fact that the service is completely free to use. The merchant pays a fee for the transaction, but as a casino player, you’re not charged.
The company offers excellent customer service and has a detailed FAQ section for customers who have any concerns. You don’t have to visit the website to open an account; you can simply click on the Trustly link on your favorite online casino and make a payment by following the prompts.
When you use PayPal, you need to have an account. It’s easy to set up your account and transfer money to and from PayPal. You can link a bank account, credit, or debit card to the account to make payments even easier.
PayPal doesn’t charge any fees to open an account, but there is a charge for every transaction you make. The charge is a percentage of the amount and is usually low.
PayPal is one of the world’s most trusted e-wallets, with almost 200 million active users. You can use the service on both a desktop and mobile device, which means payments are just as easy if you prefer playing online on your smartphone.
Benefits of Using E-Wallets
Most online casinos offer various payment methods. Why should you choose to use e-wallets?
E-wallets often offer faster transactions than traditional payment methods. Most transactions will reflect instantly, where traditional methods could take hours, or even days to reflect.
E-wallets add a layer of safety when playing with online casinos. They use up-to-date SSL encryption. Using an e-wallet also means you don’t have to share any banking information with the casino. Some e-wallets don’t save any personal information online, giving additional safety for your information.
No or Low Fees
Many e-wallets don’t have charges for their services. Those who charge a fee usually ask a percentage of the payment amount or ask a low amount. It’s often cheaper to use e-wallets than more traditional methods.
Payments and Withdrawals
You can use e-wallets for both payments and withdrawals from the casino. All the benefits of making payments apply when you withdraw from the casino. You can also expect instant transactions with your withdrawals, while you would usually have to wait five to seven days with other methods.
Using e-wallets is not only easier, but it also makes your payments more secure and faster than traditional methods. It’s also an affordable way to make transactions with an online casino.
When you look into playing with an online casino in the UK, you should consider the e-wallets that the casino offers as part of its payment methods. If it doesn’t carry your favorite e-wallet, you should continue your search.