How Should I Deposit & Withdraw at an Online Casino?

As you will see on as well on the various online casinos themselves, you have many choices when it comes to depositing and withdrawing your funds. Choosing the right banking method is a personal thing and not 1 payment method for example is suitable for all casino players.

We look at all the most popular payment methods available and highlight the positives as well as the negatives. A lot depends on convenience for you so we aim to provide you with enough information so you make your mind up accordingly. One thing is for certain, depositing and withdrawing from online casinos is safe. All the casinos on have been tried and tested using a variety of the banking options we have reviewed and we are pleased to say we had no problems whatsoever.

Saying this, we aim to educate you on the finer details like cashout times and fees (if applicable). In an ideal world, all payment methods would be instant and free but as you will read, casino operators need to verify details, ensure the payments made are being done correctly. For example, it’s not financially viable to process bank transfers as and when they come in (banks will charge the casino operators transaction fees) so they will process once a day (this is just a basic example).

Now on to the payment methods themselves. Below you will find details on the popular banking methods and why you should use them (or not).

Before you continue

As per the rules set out by the UK Gambling Commission, all players need to verify their identity if they are to play, deposit or withdraw at a UK-licensed online casino. Players need to send online casinos scans of their documents (such as driver’s license and chosen banking method) to play online. Read our What does ID Verification mean? article for more details.

Using Credit & Debit Cards at Online Casinos

Both debit and credit cards are very widely used in modern day life due to the fact they provide a secure, fast and convenient way of purchasing goods at shops or shopping online. This includes depositing funds into an online casino. The most popular credit card providers are Visa and MasterCard and they also provide debit cards. Other debit card suppliers in the UK especially are Maestro and Solo.

Both methods are very similar in nature as they both allow you to play with your deposited funds immediately at your chosen casino. Also, most online casinos do not charge any fees whatsoever for depositing or withdrawing using either a debit of credit card. In terms of processing times, depositing using either method is instant but when it comes to withdrawing, the average is between 1 and 4 days (this is dependent on your actual bank rather than a particular online casino). This is the main drawback when using either a debit or credit card at an online casino.

The differences between the 2 methods can be quite significant even though they appear to be the same. Debit cards provide a direct transfer of cash into a casino account from the player’s bank account. You can therefore only deposit what funds you have in your bank account whereby a credit card will keeping working until the card limit is reached. Debit cards can be deemed more favourable than credit cards due to the fact you are paying for the credit in the online casino straight away rather than paying for your usage at the end of the month.

Another difference is that credit cards entitle you to additional rewards and benefits. This includes air miles, points or loyalty points that you can redeem for prizes such as holidays, airline tickets and exclusive products. One example is that Barclaycard offer you the chance to win Premier League tickets every time you use your credit card. Another is that you can redeem Nectar points that you can use when doing your daily food shopping at Sainsbury’s, purchase products on Amazon or shopping at Argos. On the other hand, debit cards don’t offer the same rewards.

Saying that, it’s a lot easier to keep track of your spend using a debit card as you visit cash machines (or ATMs) more frequently than you receive your credit card statement. Credit cards offer you more protection than debit cards for example. In the UK for example, under Section 75 of the Consumer Credit Act, if you make purchases costing between £100 and £30,000, you protected. If an online casino was to go bust for example, you would be covered. So if you are depositing more than £100 a time, we would recommend you use a credit card rather than a debit card. Looking at fees on the casino side, these vary but the majority of casino operators don’t charge for using your credit card with them.

The UK Gambling Commission is (at present as of 2019) considering banning the use of credit cards at online casinos – this is because players can rack up huge debts by exceeding their credit limits and play with money that is not theirs. I predict that credit cards will be banned in the future – debit cards are recommended as you spend what you have so to speak. The good thing about both credit and debit cards is that you can use them to claim welcome bonuses/offers – more on this below.

Using PayPal at Online Casinos

PayPal was originally founded in 2000 and was then bought by eBay in 2002. PayPal is basically a payment processor that allows payments and money transfers to be made online. Once you open a PayPal account, you can fund it using your debit or credit card. In order to withdraw, you can request a cheque or funds back to the card you’ve assigned to your account.

PayPal is very simple to use and today is one of the most popular payment processors around. Over 250 million people have a PayPal account (over 20 million in the UK) which is an astonishing number (with more than 100 million active). Saying this, not all online casinos offer the payment method to their customers. A reason for this is that PayPal’s parent company, eBay, is well known for being strict when it comes to online gambling.

PayPal only works with the very best online casinos around whilst other payment providers will work with everyone basically. This makes them stand out to an extent. So, if you see an online casino that offers PayPal (like bgo Casino), there is a sure sign that they are reputable and have been scrutinized intensely in order to offer the popular payment method.

So why should you use PayPal? The advantages are plentiful. You can use PayPal at many places online including eBay obviously, shopping site ASOS and Boots. You can also purchase airline tickets on British Airways for example. There are over 300 merchants where you can shop at so you won’t be short of places where you can use it.

The biggest advantage of using PayPal is keeping your bank details completely secure and safe. If you register and use PayPal, you can then enter your PayPal account details on the various online casinos you play at (and other locations such as eBay or ASOS for example). There is no need to enter your credit or debit card details. Another huge advantage is if you change your debit or credit card for any reason. All you will need to do is login to PayPal and update only there – you won’t need to re-enter the changes everywhere else (i.e. at various casinos).

So if you don’t want online merchants (or casinos in this case) to ever have access to your bank details, PayPal is the way to go. PayPal cuts out the middleman so to speak and deals directs with the chosen online casino. In terms of security, PayPal uses the most secure systems to protect your details. They use Secure Sockets Layer 3.0 (SSL) or higher and encrypt a key length of 168 bits (the best available). All your details are not connected to the internet so there is no risk. They also keep a full record of your transactions and inform you every time one is made so it’s easy to keep on top of your actions and budget appropriately.

Overall, PayPal is a payment provider that keeps your details private from places where you shop online (like casinos). The advantages are highlighted above and the appeal is that you can use for much more than just online casinos. Instead of entering your details at various places, you keep them all at PayPal. In terms of fees, some casinos charge fees for using PayPal and some don’t.

Many online casinos don’t allow PayPal to be used when claiming a welcome bonus or offer so bear that in mind. Finally, online casinos tend to process cashouts to PayPal quicker than they do to credit or debit cards with no fees whatsoever. This is key is you want you winnings back without hours and not days.

Using Skrill at Online Casinos

Skrill (formerly known as MoneyBookers)was founded in 2002 and nearly 2 million users signed up to the then MoneyBookers in its first year and a half of operation. As of the 14th of March 2012, this number dramatically rose to 25 million account holders.

Skrill, much like PayPal, is a payment method that allows you to deposit and withdraw at online casinos amongst other online merchants. You can use MoneyBookers at more than 250,000 merchants including Facebook, Skype and eBay. Due to the success of the company, it was purchased by Investcorp Technology Partners for £105 million in 2007. Since November 2010, MoneyBookers is now known as Skrill.

Skrill, works by you putting money into the account via bank transfer or from a credit card for example. You can then send the funds to another MoneyBookers member or deposit at an online casino for example. Furthermore, you can use MoneyBookers at over 250,000 online merchants. In terms of fees, the service is good considering the level of security you receive. If you are receiving funds from another user, it’s free, if you are sending its 1% up to 43p! If using your bank account, there are no fees for depositing funds into an online casino but you will be charged £1.54 for withdrawing. The fee is £2.99 for withdrawing to a cheque.

The main advantage of Skrill is the ease of use. When depositing or withdrawing at an online casino for example, you simply just need to provide the email address registered for the account. Furthermore, once you are a member, your email address is used as authorization for all your transfers which is very convenient.

In terms of security, you can’t go wrong with Skrill. You are protected by UK and EU law as they are regulated by the Financial Services Authority (FSA) in the UK, the first e-wallet provider to offer this.  They require identity verification before using their service to minimize fraud and prevent money laundering.

If you need convincing further, they’ve won an abundance of awards including 12th position in the Deloitte 2010 UK Technology Fast 50 which recognizes the 50 fastest growing technology companies in the UK. They also won the ‘Payments Company of the Year 2010’ at the EGR Awards. They were also included in The Sunday Times Microsoft Tech Track 100 league table, which ranks Britain’s fastest-growing private technology companies. Moneybookers was ranked 6th.

In summary, MoneyBookers/Skrill is a very secure payment provider which is fast and extremely popular. With millions of customers using it, you’d be a fool to not consider it. Many online casinos has stopped allowed players to use Skrill when it comes to claiming bonus offers – this is due to users abusing the payment method. If you want a welcome offer, I recommend your debit or credit card.

Using NETeller at Online Casinos

NETeller started in 1999 and their payment network is the world’s largest independent money transfer business. NETeller is part of NEOVIA Financial Plc and has been publicly traded on the London Stock Exchange since 2004. The company is based on the Isle of Man (where many online casino operators reside) and is authorized and regulated by the Financial Services Authority in the UK.

NETeller works pretty much like Skril and PayPal whereby you can transfer and withdraw your funds to online casinos securely as well as online merchants. NETeller operates in over 2000 countries and you can fund the account from your credit or debit card as well as many other deposit methods. You can also send money to another NETeller user or receive money too. This service is absolutely free!

A big advantage to using a service like NETeller is that it’s safer than banks. NETeller is not susceptible to economic issues that banks are open to. This is because NETeller keeps 100% of the money from all their accounts in separate trust accounts and therefore is not affected by the money they use to operate the company. Banks on the other hand re-invest their customers’ money to make more and should these investments turn sour – customer’s funds can be affected.

In 2003, the company launched their award-winning NET+ card NETELLER offers this prepaid card absolutely free to e-wallet holders. The Net+ card has no welcome fees or annual fees and you can upload funds onto the card for free from your bank account to use at thousands of point of sale merchants or you can even use it to withdraw cash from standard ATM’s. (or cash points to us Brits).

If you receive money from your NETeller account back to your bank account, there is a small fee however with the NET+ card this cost can be avoided. If you take money out of a cash machine, the fee is £3 per withdrawal. Also, withdrawing from your NETeller account back to your bank account takes between 3 and 5 days even though an online casino will pay to your NETeller account instantly.

When it comes to security, NETeller is very safe. This is one of their best features as users are required to use a 12 digit code, a 6 digit personal code and a password. Furthermore, NETeller keeps track of the IP address/country used by account holder. This means that if access is attempted from another country, NETeller locks the account until the owner can verify it’s a genuine attempt to access the account. Whilst this may be inconvenient if you check your NETeller account from various locations, it ensures that your security is at the forefront of their policies.

NETeller also offers a fantastic Rewards & Loyalty programme whereby you can receive exclusive promotions for using your NETeller account to deposit and wager online. They also offer a refer a friend program where you earn 20% of your friend’s first deposit up to €16. Better than nothing in our opinion and all that simply for sharing the benefits with your friends!

On the whole, NETeller offers a very safe payment method for transacting with online casinos. Hugely popular to its convenience and ease of use. You cannot claim most welcome bonuses when using NETeller though – debit cards hold the advantage here.

Using Bank Wires/Transfers at Online Casinos

A bank transfer (or bank wire as often called) is the most basic form or depositing and withdrawing into an online casino account. Basically, you send a payment from your bank account to an online casino by entering your bank account details.

There are some drawbacks though. The main one is that bank transfers normally take up to 3 days from when it is sent to be received by the online casino. This is if you are UK resident. If you are from outside the UK, this can take up to 10 days sometimes. The same applies to withdrawals – the process is not as quick as debit or credit cards for example which are instant.

Another important factor to consider is that fees may be applied by your bank. This varies by bank though so it’s worth checking.  In terms of fees applied by casinos, this varies too. They charge no fees for either depositing or withdrawing but only allow 1 free withdrawal a month via a bank transfer. At 32Red casino, bank transfers are free if over £100. If not, they charge a £5 fee.

The simplicity of the bank transfer is what is appealing though. Furthermore, online casinos will normally allow bigger sums to be transferred using this method than with others. 1 final advantage is that you won’t have to worry about the casino currency as it will be automatically converted at the bank’s exchange rate on the day you process the transaction.

On the whole, bank transfers are popular and used by millions of casino players. However, here at, we think there are more suitable banking options available to you. The fact that is takes 3 days (minimum) to deposit or withdraw (if you are a UK customer that it) is the big turn off in our opinion. With online casinos offering faster cashouts all the time, other banking methods are much more suitable.

In Summary

These are many other banking/payment methods you can use – the ones covered in this article are the most popular. Overall, debit/credit cards are the best but I would stick to debit cards as gambling with money that’s not yours technically could lead to problems down the line.

Banking Method Average Deposit Time Average Cashout Time Bonuses/Promotions Best For Ranking
Debit/Credit Cards Instant 1-3 Working Days Yes Peace of Mind 1
PayPal Instant Under 12 Hours No Fast Cashouts 2
Skrill Instant Under 12 Hours No Fast Cashouts 3
NETeller Instant Under 12 Hours No Fast Cashouts 4
Bank Wire 3-5 Working Days 3-5 Working Days Yes Safety 5

Are we missing any payment methods?

If you want us to review a particular payment method, we would be happy to do so. Just go to the Contact Us page and let us know.