Founded in 1958, when it was known as BankAmericard, Visa is one of the biggest financial institutions in the world. It is a name that features on millions of cards, and one that processes trillions of dollars every single year. The income generated by Visa is in the billions of dollars, which is thanks in no small part to the fact that they are the credit card and debit card of choice in dozens of countries, from here in Australia, to the United States, United Kingdom, India and across Africa.
Visa with Online Gambling
Due to its global popularity, Visa is probably the most popular method for depositing money into, and withdrawing money out of, online casinos. Debit cards that carry the Visa name tend to be more popular than credit cards because of the fees, the time constraints and other issues associated with credit cards, but both of these methods often trump web wallets and alternative options.
Downsides to Using Visa
When it comes to the Visa debit cards, there are no real downsides. This is arguably the safest debit card in the world, and when you add the extra safety provided by the casino and their third-party providers, then you have a very safe option. However, as mentioned above, there are some negatives associated with credit cards. The main one of these is that many casinos will not allow you to withdraw using a credit card, even if you deposited with one. This means that you have generated credit that you can not immediately pay back, even if you have the money to do so. It also means that you will need to add another method in order to withdraw your winnings.
There are casinos that accept this method both for deposits and withdrawals though, as we’ll soon learn.
Benefits of Using Visa
There are many benefits to using a Visa credit/debit card on an online casino. With credit cards, you are guaranteed to get your money back if you are a victim of fraud, and similar rules apply with a debit card. Both of these methods are very quick, and they are also available on all casinos for Australian players. That’s important to note simply because Visa deposit and withdrawal options tend not to be available for US players, and anywhere else where online gambling is restricted. This is because while the regulators in other nations allow it, the financial institutions in the United States do not.
Security is also a big positive for Visa, and this applies whether you are using a debit card or a credit card. All cards have an additional layer of security with the Security Code, which is the final three digits on the back of the card. There is also something known as Verified by Visa, which is unique to this brand and is recommended for all Visa users.
Verified by Visa
This system is used on hundreds of thousands of websites. It basically triggers an extra screen, the aesthetics of which will differ depending on your bank. This only applies to debit cards and not to credit cards, and it is more common on e-commerce shopping sites than it is on gambling sites.
You will be asked to setup your Verified by Visa the first time you use an account that has it. From there you will need to set a password, which the system will then prompt you for every time you make a deposit. This password has nothing to do with the site you’re using and is entirely independent, which is where the extra security comes from. In many cases, you will only need to enter the password once, after which you will automatically skip over the Verified by Visa screen.
Not only does this help you keep your details secure, but it means that the site you are using has gone to the effort to include Verified by Visa and is therefore doing all they can to make transactions even more secure.
Australians love Spin Palace, and so do we. This casino has a huge welcome bonus, the best loyalty scheme we have ever encountered, some great games and fantastic customer support. What’s more, Spin Palace also lets you deposit and withdraw using a Visa credit card. This means that even if you don’t have the money to gamble, you can let the bank pay for your stake. If you win, you can then return your stake before it does any damage. With the extra cash, you might even be able to pay off any other credit card debts you have accumulated.
Just play it safe and don’t let your gambling get out of hand, because you can run yourself into a substantial debt if you do.