Do you play often at the online casinos? You must have found that there are various deposit and withdrawal options available to the players; as payment methods at the casino. For example, you can use Poli, Netteller, Ukash, Skrill, Paypal and debit/credit cards. Choosing which one is best is also a point to think about. Most of you must have the choice to use your credit card at online casinos; as it helps with the instant transfer of funds.
Using a credit card at online casinos has its own pros and cons. Let us look what if you use credit card as the means of payment at the online casinos.
The Cash Advance Fee
Have you heard of the cash advance fee? When you choose to use a credit card to fund at an online casino site account; you will have to pay a cash advance fee.
This fee will work out to be a small percentage of the amount you have deposited into your casino account; as credit card issuers look at those types of deposits as cash; and not a standard type of credit card retail purchase. So be aware that you will often have to pay those cash advance fees; when funding your gambling site accounts with a credit card.
Interest Charges
Do not forget that you will also be charged with interest; if you choose to use your credit card as your preferred casino banking option. And you do not pay off your credit card account balance when your bill is sent out to you.
Many players spend more at the casino with credit cards, but they forget that they will have to pay high-interest fees. Therefore, keep this in mind. And avoid high-interest fees and getting yourself into debt always play responsibly when using a credit card to deposit and set yourself limits and stick to them.
Deposit Limits
When you do use some banking method at casinos; you are not going to have any type of deposit limits imposed on you. However, when you use a credit card to fund your casino accounts online; you will often find there will be either a daily, weekly or maximum amount you can use credit cards to fund your accounts with.
The credit card deposit limits which many casinos have will vary from casino to casino and you will only be given the option of increasing those limits once you have become a known, loyal and regular playing at those casino sites.
Withdrawals
You will find that if you have a Visa credit card then there are usually going to be plenty of casino sites that are going to be able to send your winnings back to your Visa card account.
However, if you have chosen to use a MasterCard as the way to fund your casino account online and you then have a winning session and wish to get paid your winnings and have it sent back to your MasterCard that is something no casino sites are going to be able to do.
It is the rules and terms and conditions attached to using a MasterCard that do not allow winnings at the casino to be sent back to those cards and as such if you do have a winning session when you have been playing in a casino at which you used a MasterCard credit card to make that deposit then you will need to find another withdrawal option to use.
Fax Back Forms
Many casinos have some very strict rules when it comes to allowing their customers to use a credit card to fund their casino accounts, and what you will often find when you have used such a card to fund your casino account is that the casino you are playing back will send your something known as a fax back form.
This is a form that you will need to fill out and it will require you to enter your credit card details on the form along with signing a statement that says you have chosen to use that card to use at their site and you will not be disputing any of the charges made with your credit card.
If you do not send this form back on time then any withdrawals you have made will not be sent back to you until you do send it back! So when a casino sends you such a form by email or asks you to download it from their website make sure you complete it and send it back to them quickly. You will be able to fax it to them or send it via email.
Additional Casino Fees
Many online casinos have now started to charge their customers a small fee whenever they use a credit card to fund their casino accounts.
The fee is often a small percentage of the total amount you deposit, and the reason they have started charging a fee is that the credit card processors they use to process payment charge them a large fee which they will pass onto you.
But not all casinos charge this fee and if you do intend to use your credit card to deposit into your casino account then make sure you choose a casino site that never charges you any additional fee for those fees can mount up and will reduce the value of every single deposit you make.
Also, be aware that you could get charged with a fee when making a withdrawal back to your credit card. If your chosen casino is implementing credit card fees stop playing there and find casino sites that won’t deduct any additional fees onto you. It is necessary to always read the terms and conditions and banking methods available at the casino very carefully before making any transactions.02
