Instadebit is a unique service which offers an extra level of protection to anyone using bank transfer as a method of moving money around online. A number of bookies are Instadebit friendly and we’ve put together a list of them below.
We’ve also included a section below the list of the Instadebit fee structure so you’ll know exactly what it costs to use for online gambling transactions.
Betting Sites That Accept Instadebit
Best Instadebit Bookmakers: Top 2
The following is a list of best bookmakers accepting Instadebit and their limits:
- William Hill: £5 – £10,000
- 888Sport: £10 upwards
You’ll find that using Instadebit is actually cheaper than using an ewallet solution for moving money around online. Granted you’re not quite getting the same service as your money is never held in Instadebit but you do get an added layer of security which hides your personal banking info from any merchant.
Here’s what it costs to use:
- Deposits – free of charge
- Merchant transfer (moving money into your betting account) – free of charge
- Withdrawals – 1.5 units of your account curreny (£1.50 in GBP)
- Curreny exchange – premium charge variable on daily rate
What You’re Paying For…
Bank transfer is a 100% free way to deposit and withdraw money from any online betting account you own. What then is the point of paying for Instadebit?
The only reason to use Instadebit is the one layer of added security they provide you with. When you use your Instadebit account to make a deposit you never share your personal bank details with the merchant (in this case your betting site).
That means that your details are never held on file and you never need to physically enter them into any site other than Instadebit.
The benefit of this is clear. If there’s a security breach on the bookmakers end your personal details won’t have been shared and therefore won’t get compromised. You will also never need to physically type your bank details in more than once reducing the risk of any hack or virus you might have on your computer stealing your details.
Is It Worth It?
Whilst our team do personally use accounts at several of the Instadebit bookmakers listed above we don’t actually use Instadebit to make my deposits or withdrawals. Universally our preferred method is PayPal and you can read why here.
That said 1.5 units of your local currency to add an extra layer of protection if you are using bank transfer on a regular basis seems like a small price to pay.
We’ve never experienced a security breach with any online betting site, and are yet to hear of one at any credible bookmakers, but that that doesn’t mean it can’t happen. It happens in the NHS, it happens with banks (especially Natwest it seems) so it could potentially happen in the online gambling industry. In our book £1.50 to protect yourself that little bit more isn’t a big deal.
We recommend instead:
As we said above we’d always choose PayPal over InstaDebit because there are no fees to pay and you get great protection from their state of the art fraud prevention systems.
You also get a bank statement which shows transactions in and out of PayPal and not your bookmaker which can be beneficial for privacy. Limits are good, as are processing times.
Although withdrawals when you use a credit card aren’t the easiest they are free to use and have awesome protection against fraud. We’d recommenced them over InstaDebit deposits but your debit card will work just as well.