Whenever you want to make a deposit via credit card at an online casino in New Zealand, your two main options will always be MasterCard and VISA. We have discussed the ins and outs of MasterCard elsewhere, so here we will take a look at the pros and cons of using VISA. Given the fact that this is one of the world's biggest payment processors, it should be no surprise that the benefits of VISA are numerous, but it does have a couple of drawbacks. These relate to fees often being charged on casino deposits and to VISA withdrawals often taking considerably longer than withdrawals via other methods.
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VISA: A Brief Overview
The credit card that we currently know as VISA was originally launched as the BankAmericard. That was in the late 1950s when the Bank of America had the idea of making credit cards more popular. The company succeeded in great style, and not just by clever marketing. VISA became popular because it gave its users a more convenient method of paying for goods and services than cash, and a built-in option to spread payments over several months or even longer. Those features are still attractive to customers today, but the high level of security it offersis even more so - especially when making purchases online.
Making a deposit into an online casino account involves little more than providing your credit card information and waiting a few seconds for the payment to be authorised. The process can be summarised as follows:
When you submit this information (and any other details that may be requested, such as your postal address) the transaction will be authorised or declined within a few seconds. Assuming that the deposit is approved, the transaction will be completed and your funds will be available to play with immediately.
You should note that not all online casinos will allow you to make withdrawals to VISA cards or any other credit cards. For security purposes, those that do allow VISA withdrawals will only let you withdraw to a card that you have already used at the venue for depositing purposes. When VISA withdrawals are permitted, the process of doing so is very simple:
All withdrawals tend to take longer than deposits because the casino has to approve them individually. Credit card companies also take more time to process withdrawals, so when you withdraw funds via VISA (or any other credit card) you should allow at least a few working days and possibly up to a week for the transaction to be completed.
Making a deposit of funds at an online casino is not a direct purchase of goods or services, so most credit card companies treat it as a cash advance. This can make you liable to pay a cash advance fee, and the transaction could often start attracting interest straight away. Be sure to familiarise yourself with your VISA card agreement so that you know how casino deposits are treated and so that you can proceed accordingly or deposit using a different payment method.
Benefits of Using VISA at NZ Casinos
The benefits of using a VISA card to make deposits at online casinos are numerous, but three of the main advantages are as follows:
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VISA is one of the biggest credit card companies in the world, and it's been that way for decades. The appeal of using VISA to make deposits at online casinos is clear to see: transactions are safe and secure, most casinos accept this payment method and deposits are processed within a matter of seconds. The only drawbacks to bear in mind are that withdrawals can take several days and deposits might incur fees if they are treated as cash advances.