To play online bingo, you need a secure payment method. Even if you’re someone that’s out to collect no deposit bonuses, you still need to move money into and out of your account. Although we won’t go into why that’s true right now, the basic thing you need to know is that deposits and withdrawals are an integral way of life at the top-rated online bingo sites. Because this is the true, you need to use a method that’s not only efficient and cost-effective but secure. Here at Top5BingoSites, we want to make your online bingo experience as enjoyable and stress-free as possible. With this in mind, we’ve reviewed and rated all the top UK bingo payment methods. To give you an insight into what your options are, here are our deposit and withdrawal picks.
Founded in 1998, PayPal is now the largest eWallet payment processor in the world. Online bingo and gaming sites started offering PayPal deposits around 2010 and, today, it’s regarded as one of the quickest bingo deposit methods. The reason PayPal bingo deposits are so efficient is that you’re moving money from one online wallet to another. Because banks process funds in a different way to web wallets, you’re basically waiting for two systems to do their thing. Naturally, this slows down the transaction time. In contrast, PayPal payments to/from a top UK bingo site use the same online system which basically makes everything quicker.
Given PayPal’s status as one of the leading bingo payment methods online, it’s little wonder you can make fee-free deposits and withdrawals. What’s more, you won’t be excluded from any welcome bonuses when you use this method. Finally, PayPal deposits can often be as low as £5, which makes them a great option for low stakes bingo players.
Another big brand eWallet, Neteller went live in 1999 and now offers a global online payment solution in 15 languages. In terms of online bingo, Neteller has actually been around longer than PayPal but it’s not always as readily available. For example, our partner site Sun Bingo doesn’t accept Neteller payments but it does work with PayPal and Skrill (a sister site of Neteller).
Where Neteller is available, deposits are instant and withdrawals typically take no more than 24 hours once your request has been security checked. One problem you might find is that Neteller deposits can exclude you from welcome bonuses, so always look out for this.
After Moneybookers established itself as one of the best gaming and bingo deposit methods in the UK, the company rebranded as Skrill in 2011. Since that time, the platform has been purchased by Neteller’s parent company Optimal Payments and now stands as the latter’s iGaming-specific payment processor.
Because Skrill was primarily designed to overcome the early issues between iGaming sites and eWallets, the transactions are extremely slick. You can expect instant deposits and, importantly, withdrawals that take just a few hours. However, like Neteller, ID verification issues can mean you’re barred from certain bonuses when you use this method.
For those that don’t have a credit/debit card or an eWallet, Ukash was a great alternative for bingo deposits. Essentially an electronic voucher or coupon, Ukash allowed you to deposit amounts between £5 and £500 using a unique code. The main benefit of this method was that you didn’t have to provide any financial details. Because it was possible to purchase a voucher at shops, ATMs and online, you could obtain credit in any way you liked and then add it to your bingo account. Unfortunately, after launching in 2005, Ukash became part of the Skrill Group and was replaced by Paysafecard.
The follow-on from Ukash, Paysafecard is a prepaid voucher that allows UK online bingo players to make deposits up to the value of £250 using a special code. Although Paysafecard is a deposit-only option, it’s become one of the top bingo depositing methods because it acts as an intermediary between your financial details and the site you use.
In other words, because you can go into a shop and hand over cash for a Paysafecard code, you don’t need to input your bank details. If you don’t mind making online payments, you can create a Paysafecard account and use it in a similar way to an eWallet. However, for an instant payment method that doesn’t require any financial info, physical vouchers are highly safe and secure.
Boku – Pay By Phone Bill
The newest kid on the block is a pay by phone bill method known as Boku. Instead of buying a voucher or sending money to a bingo site via your bank/eWallet, Boku charges payments to your phone bill. If you’re a pay monthly user, the transaction will be added to your statement. If you’re a pay as you go user, the money is deducted from your available credit.
This is another deposit-only payment method and a single transaction can’t exceed £30. However, this method doesn’t exclude you from any bonuses and there is absolutely no link between your bank account and a bingo site. The upshot of this is that many security conscious players regard Boku as one the best new online bingo payment methods.
Debit And Credit Cards
Visa, MasterCard, Maestro and, in some instances, American Express (Amex) are regarded as the standard UK bingo payment methods. Because virtually everyone has a credit or debit card and each one is backed by a bank and, in turn, the Financial Conduct Authority, people feel safe choosing these options. It’s unusual for debit and credit card deposits/withdrawals to be hit with a fee, but some sites may apply a small processing charge of around 1%. Deposit times are instant, while the average withdrawal will take between three and five working days.
In general, wire transfers aren’t usually ranked among the best bingo deposit methods. You can make deposits and withdrawals using this method, but cashouts can take up to 14 working days to complete. Having said this, a lot of people feel comfortable making a BACs wire transfer because it’s a familiar process and secured by your bank. Additionally, the deposit limits can be extremely low (e.g. it’s just £1 at Betfair Bingo) and the withdrawal limits are usually the highest (e.g. £10,000 at Sun Bingo).
Choosing The Best Payment Method?
As you can see, there are plenty of high quality online bingo payment methods out there for the discerning player. Naturally, this means you need a system for choosing the right one for you. To help you get it right, we suggest using the following points as a guide. Once you’ve done this, read our bingo reviews to find the site/s that accept your preferred payment method and then follow the sign-up link to get started.
Is the payment processor trustworthy? If an option is offered by a licensed UK bingo site, it means it’s been approved by the UK Gambling Commission (UKGC) and is, therefore, trustworthy. Based on this, you can assume every method we’ve listed is not only safe and secure, but capable of delivering a reliable, high quality service.
Do you have to pay any fees? Most of the major online bingo sites won’t charge you any processing fees. However, there is no standard system, so you may find some sites charge you to use PayPal, for example, and others won’t. Make sure you factor this into your decision.
What transactions are available and how long will it take? To find the right option, you need to decide whether you want a dual payment option (deposit and withdrawal) or a deposit-only method. Additionally, you need to decide if you care about how fast your cashouts are completed.
Does my method exclude me from bonuses? As we’ve said, Neteller and Skrill can sometimes prevent you from collecting a bonus. If the benefits of these options outweigh this fact, go for it. If not, use another eWallet such as PayPal.
So, there you have it, that’s all you need to know about the top bingo payment methods online. The only thing left for you to do is use your newfound knowledge to make the right choices, get some funds online and start enjoying everything our recommended bingo sites have to offer.