- Moorwand Ltd
20 Mortlake High Street
London SW14 8JN
UPayCard is a payment solution that is full regulated by the Financial Conduct Authority in the United Kingdom. It has been on the market for a few years now but existed somewhat in the background until 2017, after which it became one of the fastest rising payment solutions worldwide.
It has been said that UPayCard was created after learning from the mistakes that popular web wallets made, including Neteller and Skrill. And that’s saying something, because if you ask many online gamblers Neteller and Skrill are two of the best payment solutions online.
So, is that true and is UPayCard one of the better payment solutions out there, or should you stick with other available options? That’s what we aim to get to the bottom of in this extensive UPayCard review.
As mentioned above, UPayCard is regulated in the United Kingdom for the issuing of electronic money and other payment services. It is registered under the name Moorwand Ltd in south-west London. It was first launched in 2013 and has been steadily gaining ground ever since, essentially building on a service that is similar to the likes of Skrill and PayPal and trying to muscle its way into an industry that has been dominated by these names for many years.
It uses the latest technology and state-of-the-art security to ensure its customers’ transactions remain safe at all time. It likes to consider itself as your “local supplier” wherever you are in the world and claims to have a team that has been operating in the prepaid-card industry since the very beginning.
So, the security is there, the technology is sound and the experience is also in plenty supply. But what does that mean for the average online gambler looking for a cheaper, better or more accessible payment solution? Is UPayCard the answer?
Pros of Using UPayCard
These days all payment providers are secure, or at least they claim to be. They try to make themselves as secure as possible and that should ensure they are difficult if not impossible to hack, even though that is never the case. Unless one of them drops the ball, the security shouldn’t be an issue and the latest encryption tech should be a given for all companies that operate in this industry.
The only things that you can truly base an online payment solution on are the fees it charges and the amount of sites that accept it. As far as the fees go, you will struggle to find anything better than UPayCard. They took the Skrill mold, realized that the only issue that many customers have were the fees, and then removed most of them.
It does not cost anything to setup a UPayCard account and to maintain one. It is also free of charge to send and receive money, to check your balance and statement and even to leave your account inactive. The only time they seem to charge is when you deposit money into your account and withdraw money out of it, at which point their fees are roughly the same as Skrill, if not slightly less.
Their withdrawals charge a set price of $3 for Visa and MasterCard and between $10 and $25 for a bank transfer. You will also need to pay 1% of the total if you withdraw in Bitcoins. As for the deposit, it can range from 1% to 2.9%, depending on the total and the method. They accept a variety of methods, including credit and debit cards, and most transactions are processed quickly.
You can also use your UPayCard account to buy an actual card and have this shipped to you. From there you can use it just like a debit card, making all kinds of purchases. You can withdraw through an ATM as well if you choose. So, basically, you can deposit winnings into your UPayCard account, get these on a physical prepaid card (the card is free, but you pay for shipping and handling) and then use this to spend freely.
Cons of Using UPayCard
While UPayCard excels with regards to fees, it lacks the accessibility that Skrill provides.
Skrill and Neteller, combined, are available on more online casinos and sports books than PayPal is. But regardless of whether you use PayPal, Skrill or Neteller, you can still have your pick of the majority of regulated gambling sites around the world. However, that’s not the case with UPayCard. Only a small number of betting sites allow you to use this card and that’s a bit of a letdown.
On the plus side, the list of compatible sites is growing all of the time and will continue to grow as UPayCard expands. What’s more, there are countries where PayPal, Skrill and Neteller can not be used, countries where you may be able to use UPayCard. For them, UPayCard becomes one of the most accessible payment solutions on the market, while the Big Three are completely useless.
UPayCard in India
Many web wallets and payment solutions are not available to customers in India, but UPayCard bucks that red, which is part of the reason it has grown so quickly in recent months. There is a huge list of accepted countries, one much too long for this guide. But needless to say if you have money and access to gambling sites, then you should be able to use UPayCard.
In fact, many Indian players prefer this to other methods and it has become their main payment solution for funding and withdrawing from online gambling accounts. And why not? It’s safe, it’s cheap (and mostly free) and it’s accessible.
Our Thoughts on UPayCard
There is a lot to like here. One of the things we dislike about payment providers like Skrill is the accumulation of fees, which means that large chunks of your money is taken by the time you deposit, play, transfer and then withdraw. There are still some of those fees taken by UPayCard, but not quite to that extent.
The main benefit of UPayCard, however, is the fact that it can be used in countries where other payment providers can’t and that’s crucial for gamblers in countries like India. All in all, this is a solid payment solution and one we are more than happy to recommend.