Popular banking options at bingo sites
With online bingo sites experiencing a substantial growth surge over the last decade, this has led to several other developments in the online bingo world. As with the online gambling industry as a whole, one element where there has been a significant improvement is with payment methods, especially with the development of new ones which have become increasingly popular among players. It is worth noting though, that all licensed bingo sites are encrypted with SSL (Secure Socket Layer) technology, which is industry standard and helps to keep player details private.
Let’s take a look at some of the major payment methods that you have available at new bingo sites and why these might appeal so much.
Debit Card
Arguably still one of the most widely used, it is often the case that players are so accustomed to linking their debit cards to sites that it has almost become somewhat of a habit. Every online bingo site offers this as a payment method, utilising either Visa, Mastercard and Maestro, while it is easy for players to register their cards.
While deposits are instant, withdrawals to debit cards can take longer; usually between three and five business days, which for some players can be deemed as a disadvantage, however, the convenience of setting this up means that this is often a favourable option.
PayPal
Online payment gateways have started to become particularly popular in the online gambling industry. One of the most popular ones is PayPal and many new bingo sites have this payment method available.
What you still need to do, in order to use PayPal though is link a preferred card to it, because this essentially acts as a middleman for processing transactions. The beauty of this is that both deposits and withdrawals are often instant, while like most other online payment gateways, they also provide an extra layer of security.
Paysafecard
What could be considered as arguably one of the safest methods, this is a great option for those of a more cautious nature. Essentially, using Paysafecard allows you to pre-purchase a card (whether online from an approved retailer or in an approved physical store) for the amount that you would like to play with (usually in multiples of £5).
When you come to make a deposit, select the option for Paysafecard and you will be prompted to enter a 16-digit PIN before clicking ‘confirm’ with the funds then credited to your online bingo account. It should be noted though, that this can only be used as a deposit method.
Paybyphone
Somewhat of a revolutionary payment method and still quite new to the online gambling industry, there are a number of bingo sites that offer this ingenious method as a banking option. What this means is that this leverages clever technology providers such as Boku to allow you to make a deposit on your phone and this is subsequently charged to your mobile phone bill every month. Again, this method is just for deposits only, however they are instant which enables you to keep playing seamlessly.
Neteller and Skrill
Other payment gateways which are not too dissimilar to PayPal, these function basically in the same way, however some bingo sites might not allow you to use this to claim their various welcome bonuses, so if you do really want to use this but you also want to receive the welcome offer, you can always register either of these methods at a later date. Deposits are usually instant, while withdrawals can take up to 24 hours to process, though it is also a secure method to use.
Final thoughts
If you are unsure about which of the methods is best for you, it is worth trying a couple out to see which appeals the most. Each have their own benefits, such as having an extra layer of security, the convenience factor and also instant withdrawals. It just depends on what you rank as being more important.
