Undoubtedly, one of the most important things to consider when choosing an online bingo room is the online bingo payments and bingo payment options available. The online bingo payment methods are what you will need to deposit money, buy bingo cards and of course receive your winnings and jackpots.
We believe that the payment method is the one part of any bingo site which should save you time and effort when making a deposit or getting your winnings. A handy tip we would like to give you is to always have more than one payment options available before you even start playing.
There are excellent banking options available and experienced online bingo players always have several different options ready to use when they want to make a deposit or cash out their winnings. Bingo sites are doing their best to offer as many payment methods as possible because they want to make it more convenient, fast and easy for their players to fund their accounts and withdraw winnings.
There is another type of bingo sites, which make it hard for players to withdraw funds and we are not going to mention these because we do not believe this is a good strategy to keep your players. That being said any of the bingo rooms you find reviewed on our site offer a variety of ways to deposit and withdraw money. On this page, you will find more information about the major payment methods and gateways used by reputable bingo rooms to make online transactions. We have picked some of the preferred methods for online bingo deposits which many players trust and opt to use.
Meaning of Bingo Payment Methods for Online Gambling?
This is quite a big topic, and we can write a lot about what payment solutions there are and how they work. But this is information which is widely available and we do not want to repeat it all here. In short, the online payment methods or solutions are ways to process monetary transactions online. They go via the internet and use an e-commerce platform or an application which is the virtual equivalent of a physical cashier. They look to match account online (here we are talking about bank accounts, credit, and debit cards, e-wallets) and transferring funds from that account to the bingo room or the other way around when withdrawing winnings.
You can read more details at the website of the payment method you are interested in and find most convenient.
What to Look out For?
We have listed the three most important factors we believe every player should look at when choosing an option for online bingo payments below.
- Security – choose to work with a company which uses the latest technology and makes sure both your information and money are safe and secure from any online fraud.
- Usability – pick an online payment method which is easy to use, you can create an account quickly and link it directly to your main bank account.
- Accessibility – go for a payment method which is accessible through most online bingo sites and available to many or all locations of players.
Which are the Best Bingo Payment Options?
On this page, you will find the most secure and safe payment gateways and solutions online. They are easy to set and use and are also available on the major bingo sites and networks. It is hard to select the single best method from all of them, and it often depends on the personal taste of bingo players. However, there is a rule of thumb we can share with you. Usually, the most accepted online payment options are Visa and MasterCard. E-wallets like PayPal or Skrill also offer excellent service. Again the – which is the best question comes down to personal preferences.
There are many different payment methods for depositing and withdrawing online. We will do our best to give you a short review of the main methods used in both US and UK bingo rooms. We have added bingo rooms we are sure to accept these forms of online transactions.
Different Methods for Online Bingo Deposits
Debit and Credit Cards
Every bingo site accepts credit cards. However, there are several positive and negative factors that you have to keep in mind.
- It is typical for card issuers to classify gaming transactions as money advances rather than purchases, so you will be paying interest or have a handling charge every time you make a deposit.
- Not all credit cards are equal regarding bingo sites. Sometimes you may experience some issues when you are withdrawing with a Mastercard. The UK ones are usually fine, but international ones might not be allowed. AMEX cards are not accepted at all, because of the company’s policy.
- A credit card issued in the UK is an indication that the holder is above 18 years old, so it does function as an age verification. However, the site might ask for an ID as well. If you deposit with another method, your account will be frozen, unless you provide a way of verification within 72 hours.
- The credit card has to belong to the user, it is not possible to use one that belongs to a family member and if you try your account will be cancelled.
- Most of the bingo sites which offer a no deposit bonus require debit or credit card details to be entered at the time of registering and if you do not do this, you will not receive the bonus even if you add this type of information later.
- Welcome offers are sometimes only valid for card deposits, so if want to make your first deposit using another method, you should check the terms and conditions to make sure that you will still receive your promotion.
Most bingo sites accept debit cards as well, and they have several advantages over credit ones. The main is that you can only transfer money you already have and there will not be a transaction fee, nor any type of interest. Moreover, it is also easier to get a debit card if you have a spotty credit history.
A prepaid card is not linked to your bank account the same way your regular debit one is. With the latter one, the money is transferred from your bank account at the same time of the transaction. A prepaid card must be pre-loaded with funds, and there is typically charge for this, either a monthly or a transaction fee. Prepaid cards might be physical or virtual.
MasterCard/Visa – This is the most common method for online bingo payments. These are the most common, easy to use and secure payments. Usually, when you first register your bingo account, you can link a card to it. You enter the details on the card and make the payment. At most bingo rooms you can also save the card details for future use. You will be required to add full card numbers, expiry dates and billing address. Once your card is saved, all you need to do for the payment to go through is add in the CCV (the three-digit number on the back of the card) number and one more verification step to make your deposit. This is an easy and very secure payment method; the same applies for getting your winnings. The bingo room will just transfer the winnings back to the card you have linked to your account.
Maestro – This is a debit card which is mostly used in the UK. Its popularity in the banks is decreasing, but bingo rooms accept this type of payment, and it works in the same way as Visa and MasterCard.
American Express – This payment method works in the same way as the other major credit and debit cards we mentioned. However, if you are playing in the UK, some bingo rooms may not accept this card, so it can limit the sites and rooms you can play at. It is a popular bingo payment option in North America. Most US online bingo sites accept Amex, some of the biggest names are Vic’s Bingo, CyberBingo, and BingoHall.
E-wallets are a popular solution for online payments. They are linked to your bank account or credit/debit card, and you can fund your account. Then you can use the e-wallet to deposit money, and you do not provide your banking information to third parties. This is a preferred method of making a transaction online especially when it comes to bingo sites. Most players do not want to give out their info directly to the bingo sites. The e-wallets we have listed work in pretty much the same way and are the most used ones for online transactions.
PayPal – This is one of the first and best-known and most reputable e-wallets. While in the US the option could be more limited in the UK almost every bingo site allows you to make deposits and withdrawals.
Moneybookers/Skrill – These are offered by the same company. The products underwent some rebranding, but along Neteller, these are the largest emerging e-wallets on the market. They are a safe and secure method for online bingo payments. Most bingo rooms in the US accept this method, so it is a good option for players from North America.
Neteller – What make Neteller one of the best options for online bingo deposits are the great safety and accessibility. You can use this payment option in the US as most bingo rooms accept it along with Skrill.
Ukash – This is an excellent e-wallet for UK players, although it is less popular than PayPal, Skrill, and Neteller it has all the potential to be among the best bingo payment methods.
Prepaid voucher systems
Most of the bingo sites accept at least one of them. Their main advantage is that you do not have to give your bank or credit card information. The primary disadvantage is that you cannot withdraw, only deposit, so if you win, you will have to choose another method for withdrawing will be required as well as ID verification and bank details.
The most typically accepted prepaid voucher at bingo sites used to be Ukash, but it was replaced by Paysafecard. Its name and physical appearance are similar to prepaid debit cards, but they are actually a voucher system.
Mobile phone billing
This way allows deposits to be added to the user’s next phone bill. This seems like an obvious facility to be incorporated to a phone app, you might be surprised to read that several bingo sites such as Mecca allow deposits to be charged this way and it does not matter if you ever use your phone to play. The most popular phone billing system is Boku, and if you want to use it, all you have to do is enter your number in the banking section. It does not have to be done through your phone, you can do it through any device. Then a text message will be sent to your phone that requests authorisation, and when you reply, the payment will go through. There are clearly some massive advantages to this arrangement regarding simplicity and security.
There are also disadvantages to this method, and you can find some of them in the list below.
- Players might not be allowed to use it for their first deposit for safety reasons.
- The deposits which are made through mobile billing might not qualify got a bonus.
- You will need ID verification and an alternative method for withdrawing.
- You can be charged a max of £30 a day through Boku. Moreover, this is not per site, but per phone, so if you use it up on one website, you will not be able to do so on another one until the next day.
Omni-channel payment options
This type of gaming is often being praised and many people state that it is the future of online bingo as well as all of the other forms of gambling. Playtech sees the user experience of tomorrow by using the same wallet and account for slots, bingo and casino games as well as placing bets on celebrities and sports and according to the company, all of this will be able to be done offline in various venues and online on any device.
This type of payment method is still in its infancy since the first that appear was Coral Connect. Currently, the players at Coral Bingo can get a card containing a PIN number which can be used both to deposit and withdraw cash from their account or any of Coral’s venues across the UK. If you are a new player, you will be able to open such an account at a shop by depositing money, and it will give you access to Coral Online without having to share any debit or credit card details.
At Mecca, there is a Cash Out In Club which allows you to withdraw or deposit from an online account, even though you can only take and give £100 per day.
Cryptocurrencies might be the future of online payments. There are many of them, and Bitcoin is the most popular one, and there are a lot of users who want to play using Bitcoin. Back in 2013, a since gambling site that allows Bitcoin accounted for more than half of all transactions using this cryptocurrency.
As of Spring last year, there are no bingo sites for British players that accept Bitcoin. And if there are, we can assure you that they are not legal. The gambling commission has made it clear that according to their organisation cryptocurrencies count as money’s worth, and thus any UK gambling sites that operate with a cryptocurrency need a license and will be taxed for it.
In fact, since October last year, Bitcoin appears on the list of the UKGC accepted methods for payments. This means that the websites have to run on a platform that is already licensed and this is a massive obstacle for bitcoin gaming in the UK because these casino games are based on the same technology as the cryptocurrency itself rather than using an already licensed RNG.
The advantage of this is that bets can be fair, even though no one knows how this can be implemented in bingo games. The situation is more perplexed by the position in terms of the regulation of the new type of currency, which is still in its infancy.
Since the gambling websites are already subjected to the know-your-customer and anti-money laundering necessities, but the bitcoin exchanges are not yet, it might seem simpler for bingo sites to wait to accept the currency until the FCA finds a way to regulate it.
There is a huge variety of methods for online bingo payments out there, which are used successfully for online bingo. Many companies provide excellent service, so the choice is a matter of taste. Other payment options used in the bingo rooms are Papercheck, eco, Bankwire, Clickandbuy and Paysafecard.
Usually, bingo rooms have a whole page on their site dedicated to the payment methods they accept, so check out the bingo site you want to play at to see if your preferred method is accepted.