he rising popularity of electronic wallets, led to the creation of Ukash in 2005 and since then the UK-based company has greatly expanded. It now provides comprehensive service to customers from more than 55 countries and their payments are accepted worldwide.
There are hundreds of thousands of points of sale all over the world and even more web shops that accept this payment method. What is Ukash? Ukash uses an original system, which allows players to convert their cash into electronic wallets using prepaid vouchers. People receive a 19 digit code that represents the amount paid and this code will allow them to purchase goods and services online.
The innovative system gained a lot of traction and the number of points of sale has increased, with the day people having the option of purchasing Ukash codes online. They can use a bank account or their credit cards to make these payments.. There are three major currencies accepted, the US dollar, British Sterling pound and the euro, although players can purchase vouchers in local currencies.
The downside is that the standard Forex rates do apply when attempting to make transfers between accounts in different currencies. The vouchers can also be used to transfer money between Ukash e-wallets, so members can send and receive money from their peers as well as funding their online casino accounts.
Paying with Ukash in an online casino The number of online casinos accepting Ukash is rising and the system works in the same way, with members being invited to redeem their 19 number code. This represents the amount purchased and by entering the long number, players will deposit funds to their online account.
Assuming there is a difference between the currencies of the Ukash and casino account, players will be instructed to choose between one or the other. The transaction is instant and it will write off the Ukash voucher, with members being notified via email.
Many online casinos will not allow players to use just a part of the vouchers, so make sure you double check this before finding your account. There is always the risk of depositing more than you were planning and the process is irreversible, so pay special attention.
Withdrawing with Ukash in an online casino Ukash is an excellent tool for depositing funds, but it is not accepted as a payment method when it comes to withdrawals. Basically, this is a one-way street, with online casino players being supposed to choose another payment method when cashing out.
On the bright side, it is very easy to withdraw funds from the Ukash account and nowadays members can also opt in for a plastic card that is links to their online account. In a nutshell, this works in the same way as a standard MasterCard and is accepted at all the ATMs where the traditional credit and deposit cards are allowed.
Applying for the plastic card is easy and those interested should know that they are expected to pay an issuing fee of €10.