Electronic wallets, or “e-wallets”, are particularly popular with many UK online casino players because they have many advantages compared to other payment options. The fast transaction times for deposits and withdrawals make e-wallets an interesting choice for many players. There is a wide variety of e-wallets available on the market, too. The most commonly used options at UK online casinos are Skrill (previously known as Moneybookers), Neteller, PayPal, MuchBetter, and ecoPayz, among others. It is free and easy to sign up for one of the e-wallets mentioned below directly through their websites.
How to Deposit With E-Wallets
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 fundamentally 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. In the next step, you 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. It is worth noting, however, that 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. Select 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.
How to Verify Your E-Wallet Account
At quite a lot of UK casinos, you won’t be asked to verify the ownership of your e-wallet because the email connected to your e-wallet will often be the same as the email you used to sign up at the casino. But, in some cases, you might be asked to provide proof of ownership, 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.
E-Wallet Bonuses at Online 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 and free spins for this type of deposit method.
So, before you partake in a bonus, read the terms to ensure that an e-wallet deposit will trigger the bonus you want.