Recommended List of PaySafeCard Bingo Sites

What is PaySafeCard?

Paysafecard is an easy way to make payments at your favourite online bingo sites without having to use conventional banking methods such as a credit or debit card. In fact, unlike most other online payment methods, you do not have to have a conventional bank account at all to use it. This is because Paysafecard is a pre-payment method. You can buy your cards from many local and high street convenient stores. You then use the card’s unique PIN number to make your payments at the paysafecard bingo sites listed above.

How do PaySafeCard Bingo Sites actually work?

Paysafecard is a pre-payment card which can be bought from many high street stores such as WH Smith, supermarkets like Asda and many local newsagents and convenience stores. Even some petrol stations sell these cards. If you are unsure where to go, you can enter your address, postcode or town on the Paysafecard website search box to find your nearest retailer. Or you can download the app to your mobile, which allows you to find the nearest Paysafecard stockist wherever you happen to be.

You can buy Paysafecard in a wide range of set values: £10, £25, £50, £75 and £100 cards can be bought wherever they are available. Additionally, you can buy higher value cards of £125, £150 and £175 at PayPoint retailers, wherever you see the distinctive yellow PP logo.

Paysafecard can then be used at any of the online bingo sites listed above. Each card comes with its own unique 16 digit PIN, which you enter into the site when making your deposit.

If you buy cards regularly, it may be worth opening a Paysafecard account. It’s free to sign up, and you can then top up your account with all your purchased Paysafecard PINs to manage them better. Your combined balance is then available in one place, so you can pay online using just your username and password.

The Advantages of using a Paysafecard

Well the first thing to point out is that in most cases, the service is entirely free to use. In normal use, you pay no additional charges, fees or commissions of any kind. The service is paid for by retailers, who are charged a small fee or commission when they accept your card as payment for goods or services.

Another plus is that you don’t need banking facilities of any kind. You can pay for the cards with cash if you want to, wherever they are available. This means that lack of a credit or debit card is no longer a barrier to playing bingo online.

You don’t have to spend the entire value of the card at once either. Any change remains on card, which can be used at a later date on a different transaction. And if you can’t remember how much you have left on your card, you can check this by entering your unique PIN on the Paysafecard website.

Another plus point is that spending with your Paysafecard is totally confidential. Your spending will not appear on any bank or credit statements. It has other security advantages too. If you are concerned that your Wi-Fi connection is insecure or for any other reason, using Paysafecard means that you are not disclosing any of your personal financial information when completing transactions online.

The Disadvantages of using a Paysafecard

The number one disadvantage and most important point when using a Paysafecard at a bingo site is that if you win, withdrawals cannot be credited back to the card. it is purely a way to deposit funds int your account. If you do strike it lucky and win, then a normal debit card or e-wallet facility will have to be used. This is a very important to remember if you’re using Paysafecard for the first time.

But there are other points to watch out for too. In many ways, using Paysafecard is a bit like using real cash. If you lose your card, you lose your money. They are irreplaceable, so look after them. The same applies to your card’s PIN. It also needs to be looked after. Your PIN is unique, but anyone who has access to it can spend that money. So keep it secret and don’t lose it!

Although normal use is completely free, there are some circumstances where you can be charged. Fees are charged if you don’t use it within 12 months of purchase. From the thirteenth month, you will be charged £3 per month for a card, or £2 on your Paysafecard account balance if you are an account holder. You can also be charged for any currency conversions involved in online purchases. Finally, should you wish to claim a refund or cash in your card for any reason, you will be charged a flat fee of £6.

The History Behind the Card

The history of this relative newcomer to the world of personal finance is complex to say the least. In fact it is chock full of the politics of high finance, with numerous corporate buy-outs, mergers and reverse takeovers resulting in a complicated web of business deals. It has managed to see off many of its rival payment services in the process, leaving it as the only real option left for customers looking to use a pre-payment method online.

Paysafe Group PLC are the current operators of the Paysafecard service. The company is based in the Isle of Man and operates under the financial regulatory system of the United Kingdom. This holding company is the result of numerous re-brandings, takeovers and mergers, meaning that the precise origin of the company is open to various interpretations. Its history looks more like that of a family tree than the linear development of conventional companies. It cannot be said to have been “founded” in a certain place or time, nor started by a particular person. Instead it is the result of a number of different entities merging at different times, sometimes resulting in new companies but fewer actual services.

Among these contributing companies are the now extinct Netbanx. This financial company was one of the earliest in this complex web, founded in 1996. Netbanx was taken over by Neteller, the electronic payment company in 2005. Neteller itself originated in 1999, and soon became strongly linked to the online gaming market. In the early years of the 21st Century, it was processing payments for the majority of online casinos, and more than 95% of its income was derived from commissions generated from these fund transfers. However, the legislation with regard to gambling in the United States was tightened in 2007, resulting in a catastrophic drop in the company’s revenues from a high of around $240m in 2006 to only around $60m in 2010. Having already relocated from Canada to the Isle of Man, Neteller therefore largely exited the United States market and attempted to diversify.

Another forefather of the current Paysafe Group was called Optimal Payments PLC. This company was founded in 1997 and was the originator of the Paysafecard service. It changed its name to Paysafe Group in 2015. Before this, Neteller (having renamed itself Neovia Financial PLC) apparently bought out Optimal Payments in 2011. Strangely, it decided to rename itself again, this time to its acquisition Paysafe Group. It turned out that this had in fact been a reverse takeover. This was confirmed the following year when most of the original Neteller / Neovia senior management departed and the Chairman was unceremoniously removed.

Having already brought Paysafecard and Neteller under the one roof, another competitor was soon to be brought under the Paysafe Group wing. This was in 2015, when rival electronic payment service Skrill was acquired for over €1 billion. Skrill had been previously known as Moneybookers, which in 2011 also took the decision to re-brand its service. The conversion to Skrill was completed in 2013. Skrill had also taken over one of its UK based rivals, Ukash, shortly before the takeover by Paysafe Group.

All these corporate shenanigans have resulted in Paysafe Group being one of the biggest names around when it comes to online electronic and pre-payment services. Paysafecard, Neteller and Skrill are all part of this financial behemoth. Moneybookers and Ukash are no longer available.

Paysafe Group PLC is listed on the London Stock Exchange and is a member of the FTSE 250 Index. It’s most iconic product Paysafecard is now the main way of pre-paying for goods and services online worldwide. Paysafecard is now available in 43 countries across the globe, in 24 different currencies.