Ukash is another e-commerce site that allows its members the convenience and security of transferring their funds instantly online. Ukash Deposits, as they’re called, are a new way to spend money over the internet. It’s simply and safe, and enables customers to purchase goods and services without the hassle or fear of using a credit or debit card online.

It was designed specifically for people who use the internet to buy goods, but prefer to use cash instead of credit. And though you can purchase items from hundreds of web merchants accepting Ukash, their main use is for online gambling sites.

Using Ukash to fund your online casino, poker account, sports book, etc, is very similar to using cash in the real world. There is no trail of financial information, registration, or anything else that can be accessed over the web. To use Ukash, a customer finds out where to purchase a voucher, simply purchases the voucher, and then is free to use it wherever Ukash is accepted.

Smart Voucher Ltd. is authorized and regulated by the Financial Services Authority in the United Kingdom as a legitimate electronic money institution. Ukash is the trading name used. Getting your hands on Ukash is simple as well. There are thousands of shops selling Ukash in the UK.

Any place showing the “Pay Points” sign is a designated carrier of Ukash. Though unlike most prepaid payment systems, Ukash has no actual ATM card or anything of that nature. A unique 19-digit number is used to make payments online. Ukash is versatile in the way that money can easily be converted into various foreign currencies through the online account manager. You can split large amounts of money into smaller amounts, or combine your smaller amounts into one lump sum.

Using Ukash is simple, and it really comes in handy in terms of convenience for residents of the UK, but it definitely has its disadvantages for everyone else. For starters, only a very limited number of sites accept Ukash. Yes, there are literally thousands now which do, but to scale, thousands against billions isn’t a very good percentage.

Also, if you don’t spend your entire voucher in one purchase, then you’ll receive a new 19-digit code, which can prove to be a lot more confusing than convenient. And if your voucher is lost or stolen, someone can easily masquerade as you and drain your voucher while you’re powerless to stop it.

People who use Ukash like it because they don’t need a credit card or bank account. They aren’t forced to give away any financial information, so their purchases always remain anonymous. All the merchant is receiving is your 19-digit code. Ukash, as its name suggests, is UK specific. You can order vouchers online if you don’t feel like going to the shops, and their toll-free number is open from Monday to Friday, 7am to 11pm, if you have any questions or concerns.