If you're here, then the chances are that you've already made up your mind to play at an online casino.
But before you can start playing at your chosen casino you're going to have to make a deposit and perhaps more importantly, withdraw your winnings. While this may seem like a fairly trivial aspect of your casino experience compared to games, bonuses and jackpots, it's very important and its significance is often overlooked. Overlooked, that is, until you get frustrated about not getting paid your winnings quickly enough or get an unexpected charge from your credit card issuer.
If you want to deposit quickly and easily and withdraw equally as fast, it's important to know the facts. While most casinos generally offer the same deposit and withdrawal options, the speed of the withdrawal does vary. So if you're not sure and the answer isn't on Jackpot.co.uk, check with the casino before you make your deposit. To see which casinos accept the payment method that you would like to use, simply head over to our online casino reviews and consult the banking section of your chosen casino.
Jackpot's Top Three Casino Banking Methods
Don't have time to read this casino banking section? No problem, we've selected our top three deposit and withdrawal options. These are...
- Maestro Debit Card
- Tell me why...No fees charged for withdrawing by either the casino or card issuer. Mega fast withdrawals and you can also use it to load eWallets free of charge.
- Tell me why...Get your account verified to get seamless and feeless deposits and withdrawals. High deposit and withdrawal limits. All the UK’s top casinos accept Paypal.
- Credit Cards
- Tell me why...You can't always withdraw back onto your card and there are fees, but the versatility they offer outweighs these drawbacks.
Six Things to Remember and Ask
- Because of money laundering laws, casinos often don't allow you to deposit using one method (card or eWallet) then withdraw onto another different card/wallet.
- If you do win more than you deposited, the casino may return your original deposit to the card or wallet you used to deposit and the rest to your preferred method: a card, eWallet, or in most cases a cheque or bank transfer.
- Some casinos will try to charge you a small fee for withdrawing via cheque. Haggle with them, we don't believe you should have to pay this.
- Regrettably, some credit card issuers charge a higher rate of interest if you use your credit card to deposit. It's always best to check with your bank first.
- On your first withdrawal don't be surprised if the casino asks you to send them some form of identification such as a copy of your passport and a utility bill. It's standard practice and you'll only have to do it once per casino.
- As such, the withdrawal times that you see on jackpot.co.uk and the casino sites themselves, refer to the time it would take for your winnings to get to you once your identity has been verified.
Casino Depositing and Withdrawing Methods
There are three main ways to deposit into and withdraw from your online casino account. We've listed these below. Cheques and wire transfer options are also available but take longer to process, are less versatile and attract fees so we don't cover these in detail.
Perhaps the most widely used depositing option available. Credit cards offer a simple and flexible way to deposit into all online casinos. There are some drawbacks such as cash advance fees and not always being able to withdraw back onto the card you used to deposit but for the most part, the ability to spread payments and the safety that credit cards offer outweigh these.
eWallets are accounts that can be set up online and paid into from your bank account, credit and debit cards, and even at some retail outlets. The main benefit is that you get a lot more control over what you spend and (some people think) they are safer than using your debit or credit card. Most casinos offer special eWallet bonuses.
Popular eWallets include PayPal, NETELLER, Skrill, Ukash, Entropay, Click2Pay, Paysafecard, Ecash, clickandbuy and ECOCard.
A direct link from your bank account to a casino may not be your cup of tea, but if you have a Maestro card and don't want to pay any credit card fees, then use it. When used in conjunction with an eWallet such as NETELLER, there are no better options.
Fees, Deposits and Withdraws
Among the most important aspects of payment methods is the time it takes for funds to be credited to your account and the minimum deposit amounts. But of course, the most important feature is how long it takes for your winnings to make their way to you.
Below is a table of the most commonly used payment methods along with all of the most important information that you'll need to know before depositing:
|Payment Method||Minimum Deposit||Fees||Deposit Time||Avg. Withdrawal Time|
|Debit Card||£10-£20||None||Instant||3-6 days|
|Credit Card||£10-£20||Check with card issuer.||Instant||3-6 days|
|NETELLER||£10-£20||None||Instant||Instant – 1 day|
|Skrill (Moneybookers)||£10-£20||None||Instant||Instant – 1 day|
|Wire Transfer/Bankers Draft||£20-100||Check with your bank and casino||Instant once your funds have been cleared.||1-5 Days Working Days|
In order to protect players and themselves from theft and fraud, almost all online casinos require you to prove your identity when you make your first withdrawal. All you'll need to do is send along documents and your withdrawal will usually be processed within 24 - 48 hours.
These documents can be photographic ID such as a passport or a driving licence and a proof of address: a recent utility bill or bank statement. If receiving a withdrawal by credit card, you may also be asked to send a copy of the front and back of your card (for peace of mind you may with to obscure the 3 digit number on the reverse side).