Comparison of E-wallets

E-wallets also known as e-banks are third- party online payment processors that can be used for shopping online and depositing at online casinos. Most of them are very simple and easy to use and because of their convenience, they are used by people from all over the world. The fact that you can send and receive money, shop online, make online casino deposits and/or withdrawals all from one place or from one online account makes them very popular and widespread.

Some well-known e-wallets include PayPal, Skrill, NETELLER, Ukash, PaySafeCard and Clik2Pay and they have been in the business for years.

The following article is a comparison between these six e-wallets. In other words, we will explain how they differ in terms of opening and funding an account, whether or not they can be used for withdrawing and what the general benefits of e-wallets are.

Opening an e-wallet account

PayPal, Skrill, NETELLER and Clik2Pay function more or less the same.

The process of registering and opening an online account starts with visiting an e-wallet website. Signing up is free of charge. To create your account you have to fill out a registration form that typically includes personal data like your name and surname, address and country and e-mail address. Then you will be sent a verification e-mail. After your personal information has been verified, you will need to register a funding method.

There is no standard account opening with PaySafeCard and UKash. No registration is needed and you don’t have to enter any personal and/or banking details. To use PaySafeCard services, you have to buy a prepaid card of a given value, which acts like a debit card. On the card there is a 16-digit pin that you need to enter to make a deposit or shop online. To use UKcash, you have to type in a 19-digit UKash code.

Funding an e-wallet account

To fund your Skrill and PayPal online account you have to register either your bank account or your credit card. Adding funds usually includes a certain fee. The money transfer is processed immediately.

Funding a NETELLER and Click2Pay account is also very simple and easy. Compared to Skrill and PayPal, with these two you have plenty of funding options to choose from. To add finds into these e-wallets you can use your credit or debit card, prepaid card, bank wire transfer, eCheck and even Ukash and PaySafeCard vouchers. The choice, however, depends on the country you live in.

Because you don’t have to open an online account to use the services of PaySafeCard and UKash, no funding in required either. You simply buy these vouchers from a store.

The PaySafeCard is available in the following amounts: £10, £25, £50, £75 or £100. A 16-digit pin is provided and you can combine several pin numbers up to 10. The UKash voucher, on the other hand, has a 19-digit UKash code you have to enter to make a deposit and it is available from €10 to €500.

Withdrawing and withdrawal time frame

To withdraw money from an online casino account into Skrill, NETELLER, PayPal and Click2Pay account, go to the casino’s cashier; select your preferred withdrawal method and type in the amount you want to withdraw.

To cash out your winnings from Skrill and PayPal, choose your preferred destination (either your bank account or your credit card) and type in the amount you want to withdraw. You have to wait a couple of business days before you can get this money.

There are a couple of ways to cash out your winnings from your NETELLER and Click2Pay account. Some of them include direct bank transfer, credit/debit card, eCheck and so on. Depending on the withdraw method, it may take from three to ten or even twelve business days to complete the transaction.

Since PaySafeCard and UKash are used the same as real cash, there is no withdrawal option. To cash out your winnings from your casino account, you have to use another option available for withdrawing.

Benefits of using e-wallets

The process of registering and opening an e-wallet account it very simple. Depositing and withdrawing to and from e-wallets is very secure and easy to use. Additionally, the fees that e-wallets charge are fairly low. Not only you can use them to do business with online casinos, but you can also use them to shop online which is very convenient. All this is available from only one account, so it is easy to keep track of what you do.

Another benefit of using e-wallets is that they are completely anonymous. You don’t need to enter any sensitive information like banking details when you are making deposits and/or withdrawals to and from online casinos.

PaySafeCard and UKash vouchers, on the other hand, can be purchased in many locations all over the world. They are very practical and convenient. Most importantly, no one would be able to obtain your bank account or your personal information, because you are the only one that can use the card.