-250x250.jpg?v=7)
What Are E-Wallets?
These are simple and secure money wallets which you can access online. Most are available via an app on your mobile device or by using a website and a desktop.
E-wallets allow you to transfer money safely from your bank account or debit card. The balance is stored securely within the wallet for when you're ready to use it.
You can quickly send any money back to your bank or card whenever you like.
Transactions are usually completed within the blink of an eye and the majority of online casinos accept a wide variety of e-wallets.
List of E-Wallets Popular at UK Casinos
Since the Gambling Commission banned the use of credit cards for UK players, e-wallet providers now have to be extra compliant. This means that you won’t be able to use your credit card to top up your wallet and play online. You can use your bank account or debit card though with any of the popular e-wallets below.
PayPal
PayPal is the most popular e-wallet and the go-to choice for more than 150 million users around the world. Created in 1998 it is a well-respected brand which doesn’t lend its services to just any online casino. Platforms must have an exemplary reputation to display the iconic blue logo. So when you see this payment option - you know you’re in good hands.
It’s highly secure to use PayPal and very easy to connect to your bank account.
Deposits are rapid and free, whilst withdrawals are usually completed within a few hours. There can be small fees involved for withdrawals back to your bank from PayPal.
Skrill
Just about any UK online casino offers payments from this e-wallet, which has been around since 2001. It was originally known as Moneybookers and is now owned by Paysafe.
Skrill offers instant deposits, whilst withdrawals back to your bank are processed within a few hours. Some fees do apply for withdrawals, so please check the Skrill website for these. The good thing is that most UK online casinos do not charge anything for using this convenient and safe e-wallet.
There are also some great extras to using Skrill to fund your casino account. With a rewarding VIP club and also the option to use cryptos, giving you some great flexibility.
Neteller
Like Skrill, Neteller is also widely accepted at UK online casinos. It’s owned by the same company too and has been around since 1999.
Neteller does charge a fee for depositing from your bank account to your digital balance. Though withdrawing is usually free using a debit card. This is a huge draw for many players who wish to avoid eating into winnings. It’s rare for UK online casinos to charge any fees for Neteller transactions. You’ll also find that withdrawals are processed within a few minutes.
This e-wallet supports GBP payments as well as allowing you to buy and sell cryptos. There’s also a loyalty club, so you can reap some rewards for your online casino payments.
Payz
This e-wallet was formerly known as ecoPayz. Whilst there was a rebrand and a new logo, nothing else has changed for users. Payz has been around for 20+ years and has some great perks. These include instant deposits and withdrawals as well as lower deposit fees than some providers.
When it comes to UK online casino availability - it’s not in the league of Skrill and Neteller. However, it is becoming more popular.
Payz allows you to sign up for free and choose your account level. This will depend on how much you plan to deposit. When it comes to fees, these can be a little steep for withdrawing back to your bank. Though the great thing is that online casinos rarely charge for Payz transactions.
MuchBetter
MuchBetter is a UK-based e-wallet which was created in 2016. Since then it has quickly grown to be embraced by many online casinos.
The company has won numerous awards for user satisfaction and is licensed by the UK Financial Conduct Authority. This makes it the perfect choice for players in the UK looking for secure casino transactions. In fact, the MuchBetter website proudly displays numerous online gambling brands which it works alongside.
Fees to and from your bank are very low in comparison to other e-wallets. Most UK online casinos do not charge you for using MuchBetter either. Transactions are highly secure with either a PIN code or fingerprint recognition.
How to Deposit at E-wallet Casinos
Since there are many different e-wallets, the exact process of depositing at an online casino can vary slightly.
Most of them are relatively similar and used in the same way. First, you must log into your e-wallet and connect a payment method to it, such as a credit card or bank account. Once this is done, you load your e-wallet with funds that can later be used to deposit at an online casino.
If you have enough funds in your e-wallet, you can head straight to the casino's cashier and select the wallet you would like to use for a deposit.
Then, follow these steps:
- Enter the deposit amount and the email address connected to your e-wallet account.
- After confirming this information, you will be redirected to your wallet, where you must log in with your credentials.
- Here, you might be able to select whether you want to make the transaction using existing funds from your balance or (if the option is available) charge your connected payment card directly.
- Then you only have to confirm the payment, and you will be redirected back to the online casino.
- Your newly deposited funds should already be available in your casino account by that time.
How to Withdraw to an E-Wallet
The quick and easy withdrawals that are possible with e-wallets are one of the biggest reasons why many veteran casino players are choosing this payment method. You can visit the cashier and select your e-wallet for cashing out.
You usually have to send the money back to the e-wallet that was used for your previous deposit. But, this means that it will already be saved under your available withdrawal options.
All you have to do is to the e-wallet and specify the amount you would like to withdraw, then confirm the transaction.
Once the payments department of the casino has processed your request, the funds will become available almost instantly in your e-wallet. Some online casinos use fully automated solutions where this process doesn’t take longer than a couple of minutes.
Please remember that a handful of transactions usually have to be approved manually before this process occurs. Therefore, it can take between 24 and 72 hours. If it is taking longer than that, we recommend contacting the casino and inquiring about the status of your withdrawal.
E-wallets and Casino KYC Checks
At quite a lot of UK e-wallet casinos, you will be asked to provide proof of ownership for your online wallet, in which case you can send them a screenshot from your wallet.
The casino will ask to see your name, the email connected to the e-wallet, and the fact that you’re logged in to your account.
Usually, sending a screenshot of the account profile page of the e-wallet is enough to satisfy these requirements.
Limits and Fees
Due to the variety of e-wallets and UK online casinos out there, there is no yes or no answer to the question of whether there are any fees collected for your transactions.
Usually, e-wallets do not charge any fees for sending or receiving transactions. However, some out there might charge a small amount to send money back from your e-wallet to your bank account. We recommend reading up on this type of information before choosing what type of e-wallet you would like to use.
The situation is similar when it comes to online casinos themselves. Some offer free deposits and withdrawals, while at other casinos, only deposits are free of charge.
The bad news is that quite a few operators charge for e-wallet transactions at one point or another. This can be as high as 5% of your deposit or withdrawal, so check this in advance.
But there are still plenty of online casinos available offering this kind of service for free. It is always a good idea to check the rates for deposits and withdrawals before signing up at a new site.
Pros and Cons of Using E-Wallets
Just like with any payment method, there are advantages and disadvantages to using e-wallets. I’ve listed all the key decision-making factors below:
Pros
- Greater security - No sharing of bank or debit card details with your online casino. The e-wallet serves as a secure buffer.
- Speed - Withdrawals are generally processed much quicker than bank transfers and debit cards.
- Widely accepted - The majority of UK online casinos will support the most popular e-wallets.
- Mobile friendly - Download a range of secure apps for your devices.
- User-friendliness - Easy to understand, use and offer convenience.
- Additional perks - VIP and loyalty clubs, as well as prepaid MasterCards and crypto compatibility.
Cons
- Bonus availability - Using some e-wallets for deposits could leave you ineligible for bonuses.
- Fees - Most UK online casinos do not charge these, but e-wallets will add fees to deposits and/or withdrawals to and from your bank account.
Compare UK E-Wallet Options
Please bear in mind that these are the details for using your e-wallet with your bank and/or debit card. So for example, the withdrawal speed will be the time taken for you to withdraw from your wallet back to your bank.
PayPal | Skrill | Neteller | Payz | MuchBetter | |
Free to sign up | Yes | Yes | Yes | Yes | Yes |
Bank/debit card withdrawal speed | Instant or up to 1 business day depending on the type of transfer you choose. | 1-3 business days | 1-3 business days | 1-3 business days | 0-3 business days |
Deposit fees | £0 | £0 | 2.5% for debit card and bank transfers | 0-10% for bank transfers or 1.69-6% for debit card (depending on your chosen account package) | £0 |
Withdrawal fees | 1.75% for all methods | 1.75% for bank transfer & 1.99% for debit cards | £10 for bank transfers and 0-3.99% for debit cards | £5.90-10 depending on account level | 2% |
Minimum transaction | £1 | £0.01 | £0.01 | £10 | £10 |
Bonus eligibility | Yes | Can often be ineligible | Can often be ineligible | Yes | Yes |
Supports British Pounds | Yes | Yes | Yes | Yes | Yes |
Two-factor authentication | Yes | Yes | Yes | Yes | Yes |
Widely available at UK online casinos? | 4/5 | 5/5 | 5/5 | 3/5 | 3/5 |
Bonuses at E-wallet Casinos
When it comes to welcome offers and deposit bonuses, e-wallets can be a bit tricky. Since online casinos have to pay relatively high transaction fees compared to other payment methods, they tend to exclude some or all of their bonus offers from deposits with Neteller, Skrill, or other e-wallets.
This is not always the case; there are still many sites available with lucrative bonus offers. We have listed some examples below:
- Free spins: E-wallet casinos offer enticing free spin bonuses to boost player enjoyment.
- Reload bonuses: Maximize your casino balance with top reload bonuses.
- Cashback offers: E-wallet casino cashback offers refund players' losses, providing a safety net.
- No deposit bonuses: No deposit bonuses provide players with free rewards without requiring a deposit.
So, before you partake in a bonus, read the terms to ensure that an e-wallet deposit will trigger the bonus you want.
Tips for Choosing the Best E-Wallet Casino Sites
So, you’ve chosen your preferred e-wallet and you're ready to get started? Your next step will be to get signed up at an online casino. Whilst there are unlimited choices for players in the UK, it’s a good idea to think about what you want from a site.
Bonuses
Please don’t be drawn in by any big bonuses without reading the small print. Skrill and Neteller deposits will often leave you illegible for welcome offers. Ongoing promos and loyalty rewards may also not be available to you.
Limits
A quick trip to the cashier section will reveal this vital information. If you are a high roller and your chosen site doesn’t permit more than £200 a day in Payz deposits, then you’ll soon be looking elsewhere. The same goes if the minimum Skrill deposit is £50 and you are on a smaller budget.
Fees
It’s unusual for UK online casinos to tack on deposit or withdrawal fees to e-wallet transactions. But it’s always best to check this before signing up. A quick chat with live support or a scan of the FAQs will sort this out.
Transaction speeds
Most e-wallets offer instant deposits at UK online casinos. Though withdrawal processing times can sometimes be up to 5 business days - ouch! You can avoid this by opting for a fast-payout casino instead.
