Convenient, fast and relatively cheap, eWallets have grown to be one of the more widely used payment options in the UK and globally. To respond to demand, gambling operators started adding to their cashiers as many eWallets as possible. Yet not all of them offer an equally beneficial range of options.
In our expert guide, we introduce the best wallets gamblers can find in the UK’s go-to casino selection.
5 eWallet Providers in the UK
The most popular wallet in the UK is PayPal, followed by Skrill and Neteller. MuchBetter and ecoPayz (Payz) come fourth and fifth. Despite many differences, one thing they all have in common is that they support discreet, fast and cost-efficient transactions.
Even though they are threatened to lose their spotlight to Apple Pay, Samsung Pay, and Google Pay, eWallets still put up a good fight with wider availability of bonuses in casinos . Unlike the mobile platforms we just mentioned, digital wallets grant easier money management and offer additional services such as foreign exchanges and physical debit cards that make them more user-friendly and versatile.
Why Use an eWallet?
The eWallet, a payment method that emerged in the early 21st century, turned out to be an adequate choice for casino players.
In fact, it could be said it was the online gambling industry that boosted the growth of the first eWallets, such as Moneybookers (today known as Skrill).
The first reason why online gamblers prefer them to any other method is convenience. Once they connect their debit card or other payment method to an eWallet, everything else is a walk in the park. They don’t have to enter long debit card and bank account numbers over and over again.
Also, they are incredibly safe. The casino will never get insight into the player’s card number, as the eWallet technology serves as a bridge (or an intermediary) between the two parties in the gaming process.
Let’s not forget to mention that they are much faster than most other traditional payment methods. A bank wire may take up to 7 business days. A credit card needs up to 5, especially when it comes to withdrawals. With an eWallet, the online gambling operator can process the payment the very same day.
Stretching Your Pounds — Which eWallets are the Most Affordable?
Such high-standard services don’t come for free. Most eWallets have fees that may affect the amount gamblers end up with:
● PayPal may charge up to a 5% fee, depending on whether you are using a UK or international bank account and the type of transaction;
● Skrill may charge a 5% fee for eWallet deposits, as well as a service fee for users who use it less than once every 6 months;
● Neteller charges fees for both funding your eWallet balance and withdrawing from it, sometimes even up to 7.5%;
● MuchBetter fees are usually up to 2%;
● With EcoPayz (now Payz), fees and limits vary depending on your account level.
Even so, eWallets are still cheaper than most traditional payment methods, not to mention faster, and they will continue to be popular choices for those playing at online casinos in the UK.
