Online bingo is a popular pastime for a lot of users, with casual and professional gamers alike looking for newer and safer ways to keep their details safe. Below is a detailed guide for what you need to consider when making an iGaming payment.
Banking is One of The Most Important Considerations
Banking is the number one reason for complaints about UK bingo sites, the second are bonuses which are usually related to banking and the problems people have had trying to withdraw winnings before meeting wagering requirements.
Banking at bingo sites would and should come in as the second most important factor after licensing to consider. The reason it’s not mentioned 2nd on our list of criteria is we did things in the actual order, so signing up and playing bingo and slots came before making a withdrawal which is where banking is actually tested the most.
The banking methods used to both deposit and withdraw from online bingo sites vary greatly. In essence there is something for everyone available, many people nolonger need or want to use credit or debit cards to play online bingo, and for this reason the best sites have a wide range of other options to choose from.
Making a deposit to a bingo site is pretty easy and straightforward. It’s instant with 99.9% of methods used and people encounter very few problems with deposits.
Which Should I Use and What Should I Look Out For?
In regards to online gambling, most people want to play with real money in order to win more real money, hence the need for a greater understanding of bingo payments. Even if you intend to buy bingo tickets in bulk rather than pay for individual games, you’ll still need to have a means of depositing your funds. What is more, should you be successful and bag yourself a win, you’ll need to be able to withdraw those winnings to really appreciate them. However, when first starting out, it can be daunting to know what key factors you need to consider when examining online bingo payment methods.
Security
Remaining safe in all that you do online is of the utmost importance, with the exchanging of money only helping to further its significance. When it comes to online payments, most of the tried and tested methods you see, such as Visa, Mastercard, Skrill, etc, are secure and reliable, thus giving you peace of mind. That being said, it isn’t just a case of looking for respected and trusted payment providers, but to also ensure that the bingo site you’ve joined honours that same code.
One of the best rules of thumb we suggest is to look at the technology/software the bingo site uses to ensure its users stay safe — is it up to date? Can you find the privacy policy and banking terms and conditions? Do you understand what’s outlined in how to use the services? All of these questions, and more, will help you determine whether a site can be trusted or not. If this still sounds confusing to you, we suggest you look for your bingo site using SSL encryption technology, as this will keep your personal details encrypted and far safer than other methods from hackers/scammers.
Usability
Alongside the need for security, you also need to consider how easy it is to use a payment method is, both on its own and it combination with the site you’ve joined. For most people, usability is all about speed, hence the raise in ewallets being utilised as iGaming methods across a diverse array of online bingo sites. However, if you’re not keen on ewallets, make sure that connecting your credit/debit card to your bingo profile is a simple process. It’s better to go with not just familiarity, but also what we ensure you spend more time gaming and less time talking to the support team.
The Benefits of Using an eWallet
Taking into account all that we’ve covered, you may be swinging towards using one of the aforementioned ewallets for your next bingo game. However, you’re still a little unsure of the benefits? Below is a quick overview of the main perks of ewallet bingo payments
- Quick and easy to use
- Greater levels of security
- Widely accepted by bingo sites
- Don’t need to directly add your bank details
Accessibility
In a similar vein to usability, you also need to take into account how access your chosen payment method is, e.g. can you use it across multiple bingo sites, and will it be accessible in different countries. The reason we mention the latter is due to some payment methods being more niche than others, e.g. EcoPayz is one such brand that isn’t available to all users, and so if you register with that method but then go somewhere where you’re unable to then use it, you’ll soon run into issues. This is why it’s important to look into the terms and conditions, and to go for the most commonly used/popular of the options provided.
The Most Popular Bingo Banking Options
Now that you know the type of things to look out for, it’s also worth knowing which of the many methods you’ll be introduced to are most trusted.
The links below will take you to the relevent page which shows a list of bingo sites that accept that specific methods to deposit and sometimes (with a couple of exceptions) withdraw.
- Credit Cards / Debit Cards
- Paypal
- Neteller
- Boku – Pay by Mobile
- PaySafeCards
- Skrill
Credit Cards
Whichever site you visit, you’ll notice that card payments are always accepted, no matter what — it’s one of the most commonly used banking methods we have across any type of website, not just iGaming. That being said, while credit/debit cards are to hand and familiar to us, they do come with a list of both positives and negatives which will ultimately sway your final decision. Most notably is their connection to bonuses.
For many sites, only credit/debit cards will be accepted in order for the bonus rewards to be credited, however on the flip of this, you’ll likely be charged interest when using your card because gambling is treated like an advance not a transaction.
PayPal
Arguably one of the original and most familiar of ewallets, PayPal is a firm favourite for many. However, as iGaming advances, more people are shifting to other, newer models in order to make their payments, which leaves us asking whether PayPal is still worth it? Quite simply, yes. This is one of the most trusted and widely used of all the ewallets still available and, for the most part, accessible across the globe. Another benefit of PayPal is that most bingo sites will allow you to deposit and withdraw by using the brand, rather than you having to go between two different options. If nothing else, this makes PayPal one of the more convenient payment choices.
Neteller
Similar to PayPal, Neteller is an ewallet option that many are choosing to use when gaming online. A lot of people assume that Neteller is newer than PayPal, however it was actually established back in 1996 and so it isn’t quite as young as it appears. In truth, it’s merely a brand that’s started to get recognised more within the right kinds of circles, e.g. iGaming. Just like with PayPal, this system allows you to transfer funds from your bank to your bingo account, and typically instantaneously. The only potential issue is that not all bonuses allow deposits to be made when using this payment method.
Skrill
Also known in the past as Moneybookers, Skrill is yet another online payment system that is popular within the iGaming community. In fact, in recent years, some would argue that the likes of Skrill and Neteller have surpassed PayPal in popularity. As already mentioned, the process by which you deposit and withdraw is done by connecting your bank directly to Skrill, then you simply transfer or remove funds. At this moment in time, approximately 200 plus countries can use Skrill, therefore making it a wise choice for international players. However, please note that sometimes bingo sites won’t permit withdrawals when using Skrill and so a different method will be needed.
Boku (Mobile Payments)
From the options above Boku bingo sites are probably the newest and fast becoming the most popular method. In short it allows you to deposit and charge the amount to your mobile phone bill. Ideal for the majority of people who now play bingo via their smartphones.
During our “travels” of various bingo sites, we see a lot of mention of Boku, however not many users know much about it. Basically, it’s a system which allows you to make a payment via your mobile phone, either by adding money onto your monthly bill for making said payment, or by taking credit off of your pay as you go bills. In regards to convenience, not only does this make it an easy to use option, but you also don’t need a bank account in order to use it. Nonetheless, some sites do add a banking fee when utilising Boku, so be mindful of the terms and conditions.
Other Safe Payment Methods
Here are several other safe and recognised providers for you to explore when playing bingo online.
Instadebit
This is one mainly used by Canadian players, and is an online option that functions in much the same way as PayPal does. Not all bingo sites permit Instadebit, but you can rest easy if you see it mentioned; it’s more than safe to use. One of the main reasons users love this option is because when you can’t use your card, Instadebit payments can still be processed.
ecoPayz
Oddly enough, ecoPayz is an ewallet and yet it doesn’t get half as much attention as PayPal, Skrill, and Neteller. Despite not being the popular one to pick, this provider is more than reliable to use, and will help you make transactions fact, thus making it ideal when wanting to have a quick punt or two. The only consideration you need to make note of is that due to its reception by gamers, not all bingo sites will permit payments.
Entropay
If you don’t know much about Entropay and how it works, you’re not alone — quite a few online players have either never heard of Entropay or aren’t trusting of its services. Arguably, this is due to its unique banking approach, with the service acting as a virtual credit/debit card and an ewallet all at the same time. Despite sounding odd, this works well for users, with payments tending to be quick and convenient. What is more, Entropay’s security is second to none. Unfortunately however, banking fees are often applied when using it.
Clickandbuy
Available in just under 30 different countries, this ewallet is far from the most popular out there. Nevertheless, it still provides efficient and reliable service when playing online bingo. The only downside we really see to this option, in addition to its restricted accessibility, is that you don’t seem to be able to make withdrawals with it. Therefore, this is likely one of those methods that is only useful when in a hurry and when you have no other options for making a deposit.
Pay by Phone
If you like the idea of paying without the need of a credit/debit card, but you don’t want to sign up for Boku, you can simply opt for pay by phone instead. The beauty of this is how universally recognised this payment method is becoming, thus allowing for a more mainstream audience than Boku. What is more, by using your bill/contract to pay, you don’t have to worry about signing up to an ewallet.
Paysafecard
Specifically created as a “cash for the internet” service, Paysafecard is a clever payment options that a lot of bingo users like to rely upon. Using a special PIN (or code), you’ll be able to buy this card in order to pay for your deposit online — think of this like the old top up mobile cards we used to use. The only issue with this provider is that withdrawals aren’t allowed at this time, which does limit its accessibility somewhat.
Bank Transfers
Also known as wire transfers, this is by far the least popular method for online bingo payments. The main reason for this is because of how long it takes to come through, especially when making a withdrawal. On the other hand however, for those who don’t want to rely on an ewallet and/or card payments, a bank transfer is always the next best option. Furthermore, you have the beauty of it being registration fee, meaning you don’t have to faft around connecting accounts, etc.
Trends for Future Payment Methods
When it comes to using bingo payments, a lot of the methods we’ve already mentioned look set to be part of “future trends”. The main reason for this is because they’re so widely used, well known, and have been developed to limit the number of issues that can arise from them.
Bitcoin and Cryptocurrency
Of course, one of the payment methods which is definitely growing in popularity is Bitcoin and Cryptocurrencies in general. The most obvious beauty of these payments is that they’re virtual currency and so there’s no worry about physically needing to register for an account and/or connect to a bank. However, this also means they could be more susceptible to hackers, which is one of the main concerns for its users.
Fastest Bingo Banking – Withdrawal Time From bingo Sites
The most common reason players complian about bingo sites is pretty much always related to banking in some way. Often cashing out takes too long, or the site asks fir more ID such as a driving license, passport or utility bill before they process your withdrawal.
While the need for ID is out of the opperators control and has to be complied with due to fraud and money launderuing laws the speed of withdrawals is often not needed. We see this as very unfair to players and can’t see why getting your money should take such a long time.
The fastest way to cashout is always with PayPal, this is because there are no processing times like you may find if using a credit or debit card. Once the site approves and sends the funds, they arrive instantly in your PayPal account.
As for finding the bingo site that has the fastest withdrawals that title goes easily to Ladbrokes bingo. We play here a lot and when making a withdrawal the funds are in eiother our paypal, bank or neteller account within around 2 hours. this takes some beating and other sites like those that are owned by Cassava Enterprises for example lag way behind and can take up to 14 days to complete a withdrawal.
This is a point that can make your blood boil and we see no reason why some sites take around 2 weeks before you see any winnings credited to your bank account, PayPal account or online wallet.
All sites owned by Cassava enterprises keep your money longer than they should. Sites such a Ladbrokes Bingo, however, have withdrawals done and dusted in around 2 hours. A happy medium and the industry-standard we have found is 3 working days. This average is without including Cassava Enterprises sites which make the average much, much worse.
If slow baking I something you won’t tolerate then choose. it’s with after withdrawal time. On each of our UK bingo site reviews right here on Diamond bingo, the banking methods accepted are listed, and withdrawal times are highlighted to make sure you know what you are letting yourself in for.
