Credit Cards: A Faster, More Secure Way of Paying for your Online Wagers
Did you know that credit cards have been in existence for close to 7 decades now? However, it was not until the late 90’s that they were used to make online transactions, and by early 2000s, they jumped into the online gaming industry locally and on a global scale.
For a fact, credit cards are among the fastest and easiest ways of depositing money to an online casino account. Also, if it comes to withdrawing money from your casino account, credit cards can as well come in handy even though the withdrawal speeds could drag a little. To put things into perspective, today’s review is all about how Kiwis can use credit cards to make payments in online casinos, starting right from the basics. If you’ve never used your card to gamble online, or you’ve been skeptical for any reason, you better keep reading this review!
Top Kiwi Casinos that Accept Credit Cards
The most reliable Kiwi casinos that accept credit cards are as follows;
Up to $1000 Bonus
Up to $500 Bonus
$800 Free for First 3 Deposits
Up to $8888 for first 6 Deposits
New players can get a massive sign-up bonus that’s worth a 250% matched deposit package up to NZ$2,500 after loading their first deposit.
Types of Credit Cards Services Used to Make Online Payments
Virtually every adult in New Zealand owns a credit card. It’s no wonder why credit cards are notoriously popular for making payments online. The most popular credit card service merchants available in New Zealand are;
a) MasterCard
The best thing about MasterCard is that you can use it in almost every casino. It also provides very quick money deposits and at the same time, the player's safety is always guaranteed. When it comes to withdrawing money from your account to your MasterCard, it is pretty much similar to depositing, although the process takes a little bit of time, but typically, not all Kiwi casinos will accept MasterCard cashouts.
b) VISA
Visa credit cards have been in use online since the onset of online e-commerce sites. Owing to its reliability and security, it is considered as one of the safest options for making payments over the internet. However, unlike MasterCard, Visa is accepted both as a deposit and withdrawal method in virtually all online gaming sites that accept Kiwi players.
c) American Express
The main reason why American Express credit cards were introduced for online casinos in New Zealand is to cater to the needs of high rollers. As you may already know, certain American Express services and cards are often limited to the elites of our society due to their extravagant spending habits. It’s no wonder why the card fits high roller profiles in online gambling as well.
How to Use a Credit Card
As long as you own a bank account, you will have a credit card almost automatically. You can obtain one by physically visiting your nearest banking establishment or creating an online banking account and a credit card will be sent to you by mail as soon as you are deemed eligible.
For those who still don’t know how to use credit cards when making payments for online gaming, here is a step by step procedure to get you started;
Head over to the banking section of the casino you are playing in and choose a convenient credit card option for you
Enter the amount that you want to load
In the online form, you will be expected to fill your 16-digit card number, digit CVV code, and card expiry date.
Then, click the deposit button to load the money to your account
If everything goes well, your online casino account will be credited instantly.
Deposits and Withdrawal Limits, Duration and Associated Fees
Generally, credit cards don’t have any transactional limits. However, in the majority of cases, online casinos and banks always impose deposit and withdrawal limits to prevent fraud and money laundering. This is why you will come across many online casinos setting deposits or withdrawal limits. For instance, some limits may be up to amounts like NZ$5,000 per week or even more. However, these limits only apply to regular withdrawals, but not when withdrawing jackpot amounts.
With credit cards, deposits are always instant and when it comes to withdrawals, it takes up to a maximum of 5 business days for your money to be processed from most online casinos in New Zealand. Furthermore, when using credit cards, you will have to incur fees often charged by the bank, particularly for receiving money from the casino. Casinos, on the other hand, will rarely charge you for credit card transactions but some of them actually do it.
Security Features of Credit Cards
For starters, to authenticate any credit card transaction you must enter a 16-digit credit card number, CVV code, and the expiry date. There is no way around it. For Visa and MasterCard, the CVV code is composed of 3 digits while for American Express, this code is made up of 4 numbers. To further protect online transactions, credit cards mask financial transaction data with high-end 128-bit SSL digital encryption, which is currently a standard for all online bank card transactions.
Pros and Cons of Using Credit Cards
As much as credit cards have numerous upsides, there are also some cons that come with using them. Here’s a quick look at all the most significant merits and demerits;