Online Bingo Payment Methods

Something that is essential for your online bingo experience is geting your money into and out of your account. You do this using whats know as a payment processor – this is the same method as online casinos and slots sites if you’re familiar with them at all.

With bingo becoming almost a staple in the UK gambling scene, security whilst you’re playing on trusted UK sites is paramount – in fact it should be right up there with making sure you’re having fun. Protecting your money is vital in this respect, and with most online bingo sites you’re in safe hands because they’re 100% above board and legitimate.

But whilst there’s a majority of bingo brands out there that are all fine and dandy… There’s a very small percentage who’re just out because of the surge in popularity of online gambling and are out to make a quick buck off of the unsuspecting punters – to walk away with your funds and vanish without a trace!

So, to make sure you’re always upto scratch, keeping up with current methods used by the top payment providers is vital. This handy guide is going to help you in knowing which names are legitimate – you’ll also find that the one you choose will be a bingo site that accepts one of these.

How to Pick A Site Based on Payment Options

If you’re looking for one of the reputable sites, there are quite a few things to look for. Among things like selection of bingo games and the promotions on offer, a good factor to look for is what payment options they have. This makes sure that any money you win or want to deposit into your bank account is safe and secure – which is a notable element when you’re picking a site to play bingo on!

When starting out or if you’re a newbie, a great rule-of-thumb is to only use well-known bingo brands – businesses that have been doing this for a long time and have a good range of trusted payment methods. This is a good idea because these businesses have spent a long time building up the trust and confidence of the punters and institutions they work with.

This is the opposite of what you may be thinking if you’re purely chasing the best promotions and newest sites because there would be less competition / other bingo players. Here’s a warning for you: The shady sites know you think that way and they pray for players thinking like this.

The payment processors

Because this is your money… We can’t stress enough how much you should research before you place you money into a bingo site and start receiving bingo payments!

Once a site looks good to you and it looks like one you want to play on, take some time and have a look at what payment methods they accept. Find one that looks good to you and that has a payment processor that you already know about and trust if possible.

If you haven’t got much experience gambling online, you may not know a lot of the names you come across. This may be frightening since you might be worried about the safety of your money.  If you know absolutely nothing about payment methods and don’t recognise any of the names then you may be best off doing your own independent research.

Popular Bingo Depositing Methods

The following list presents some of the most popular ways to deposit your money into a site to play bingo – knowing these covers a lot of your bases. These payment methods have been being used since the very first site came around all those years ago. So, take a gander at the following options and see if any stick out to you.

Debit cards

This payment method is probably one of the more popular ways of getting money from your bank account to your playing account used all over the world because it’s arguably the quickest method of getting funds into your account to play bingo. It usually requires you to fill out the least amount of financial information when you do your deposit as well – and that’s always a chore!

A credit card, as of early 2020, under UK gambling restrictions, is no longer an option for funding gambling.

Advantages of using a debit card

  • It’s speedy, so there’s less time faffing around and more time playing!

Disadvantages of using a debit card

  • you have to already have a financial institution or bank account set up and if you’re using a personal account that you use for everyday things – like shopping and paying the bills – it can be hard to set up a budget.

Prepaid Cards

Prepaid cards are again a nice and fast payment method that is pretty easy to use and deposit with – there’s been an increase in bingo sites accepting them. With this option you simply have to buy the amount you want to deposit and get it onto the prepaid card, then you just use the details of that card to deposit into the online bingo operator you want to play on. There are no card details involved and your sensitive information stays away from the casino.

The only downside to payment by prepaid card is that you can’t withdraw your money from your playing account back onto the card, so you need to have another method to be able withdraw your money.

PaySafe

The PaySafeCard is a little card which has a 16-digit code, that can be used to purchase various goods – or make online bingo deposits. Founded in 2000, it’s been around for over 30 years now and has become a top payment method for shopping and doing business online.

Advantages of prepaid cards

  • It’s a quick method of depositing money into your playing account without having to share your sensitive information

Disadvantages of prepaid cards

  • This isn’t a viable option to withdraw your funds from your bingo account, so you’ll need another one of these methods to withdraw your winnings.

E-Wallets

Electronic wallets or e-wallets have had a huge boost in popularity as a payment method in the last decade thanks to their ability to be both a reliable method for depositing money to play bingo with and the fact that you can withdraw your winnings into the same account as well.

They became so popular thanks to the faults of all the other payment methods that were out there and quickly became a favourite for bingo and gambling sites – so much so, some of these sites will have a nice bingo bonus for customers who use selected e-wallets!

PayPal

One of the biggest names in e-Wallets, you’ve probably heard of PayPal – It’s a giant in the online payment industry as a whole. Starting life as Confinity, PayPal has become an absolute powerhouse in the online payment world and because of this its accepted by almost all bingo sites out there!

With absolutely brilliant customer service thanks to the fact they’re so widely used – absolute tonnes of bingo websites accepting PayPal. Payments are incredibly safe as well – They have some of the best encryption software which makes for an incredibly secure payment. It’s ease also puts it up there with the greats – You simply enter your bank/card details into PayPal once and then you’re all set.

Skrill

Originally known as Moneybookers, this UK based company has quickly risen in popularity. Founded in 2001, in 8 short years they were worth £360 million – They’re now owned by the PaySafe group who we mentioned before. Over 500 online gambling sites now accept Skrill and they have a whopping 36 million members – You can see why bingo players are so drawn to using it!

NETeller

Probably a less well known e-wallet is Neteller – even though it holds its weight with the others. One thing you’ll notice about all of the e-wallet companies is that they all have pretty much the same features. They’ve been around since 1999 – a long time – and they’ve moved from Canada to now being based in the UK as they were also acquired by the PlaySafe group.

Advantages of using e-Wallets

  • Usually this will be a players most secure and safe method to withdraw or deposit money. It’s speedy with the side benefit of allowing players to use the same e-wallet for multiple gambling accounts, so they can easily transfer money from one site to another. Some sites will also have a bingo bonus for using this method.

Disadvantages of using e-Wallets

  • Most of these e-wallets will have some sort of fee for using them. They can also take a few days to activate a new account, which could stop a new player from playing for this time.

Other Depositing Methods

Whilst the above-mentioned methods are the most popular for people wanting to play online bingo, there are some other methods which are commonly used and just as viable for depositing and withdrawing your winnings from your bingo games.

Pay by Phone

Paying by phone has had a sharp rise in popularity with the increase of mobile casinos. Being able to deposit into your online bingo account balance without card details through your phone is super convenient and means you don’t even have to move to top up your account!

The main way of actually paying by phone is paying through a phone bill. You can use either your prepaid credit on your phone if you’re on pay as you go or you can – very handy. If you have a contract then you can also use this method, the funds just come out of your monthly bill.

Boku

Boku is an extremely safe and secure payment method which was founded in 2009 by 4 business partners. Boku a popular payment for bingo online for a variety of reasons – first of all this payment method does not require punters to enter details which will assist hackers such as personal information and bank details. Boku is also a favourite because of how quick it is. Depositing takes under a minute and it’s very simple to do!

To use Boku, you would fund your account by entering their phone number and the money is added to the punters phone bill. So if the punter is running low on money but still wants to play then this is no issue at all as they can still play and pay by phone bill. The Boku headquarters is based in San Francisco. Below you will find some Pros and Cons about Boku.

Advantages of pay by phone

  • Super handy – you literally don’t have to move to deposit money.

Disadvantages of pay by phone

  • You can’t withdraw your winnings and so you need another method active to actually get access