Card Payments at Australian Casinos
New and old online casinos both still typically offer card payments as one of the options. Card payments are well-known and used throughout the world for all manner of online transactions. As such, they’re typically easily available with the vast majority of online casinos offering them as options.
Card Payments
Most branded debit and credit cards are accepted online, but VISA and Mastercard remain the two most common options. As most players are very used to using cards to pay, they remain one of the most popular options when it comes to only payments at casinos. Here’s a quick look at what makes card payments a good option when transacting online.
What is it?
Card payments encompass both credit and debit card transactions. Credit cards draw from borrowed money from your bank. This means that if you’re not in the black, you can borrow the funds and pay it back at the end of the month. Conversely, debit cards take direct payments from your bank account, so you need to have the funds accessible if you’re to make the payment.
How Does it Work?
Card payments at online casinos in Australia work in the same way as using a card to make a purchase from an online retailer. You simply need to go to the payment method and select a card within your casino account. Then, it’s a case of inputting all the details from the card including the 16-digit card number, the CVV, the name on the card and the expiry date. You then need to select the amount you want to deposit. If you’ve set up 2-factor authentication, you will then need to input the code in the space on the screen to finalise the transaction. Withdrawals follow the same process.
Credit cards allow you to borrow money, which means that you can spend more than you have to pay back. This means that you can rack up credit card debt, and if there is interest, this can end up being a lot. With this in mind, it’s worth noting that credit card transactions are prohibited at Australian-licenced casinos. Debit cards can only use the money in your bank account, which means you can’t lose more than you have in your account, thus you have better control over your spending.
Security
Card payments represent one of the more secure payment options. Of course, this does rely on you keeping your card and banking details to yourself. Most casinos will use SSL encryption to ensure your details are secure and protected from third parties. You should also set up 2-factor authentication to ensure further security. Doing so means getting a security PIN via SMS or in your mobile banking app to approve and verify any purchases, proving that it is you who are making it. Should your card details be used by someone else, they will be unable to verify the transaction. It’s also worth noting that credit cards also come with limited liability for the customer in case there are fraudulent transactions.
Speed
Speedy transactions are the name of the game for new casinos, and this is one area where card payments don’t do so well. Deposits, like most payment methods, are instant. You can find your account right away and get playing. The issue arises when it comes to making a withdrawal.
Card payouts are typically one of the slowest options available. Any withdrawal, once it’s been checked and processed, can take anywhere from 3 to 10 days. This is because it has to go through a lot more levels of security before the funds can be released.
Fees
Depending on the casino, bank and card you are using there can be fees attached to a card payment. Typically, there are fees of up to 3.5% on card transactions which can be off-putting to many. When it comes to payment limits, most bank cards are limited to a daily cap of A$2000 to A$7000 though this depends on the casino and the bank.
Why Choose to Use Credit or Debit Cards
Card payments continue to be a solid option for playing at online casinos for many reasons. For one, unlike some methods, they can be used for two-way transactions, depositing and withdrawing funds. Additionally, cards can be linked to mobile banking which means that it’s easy to top up your casino account when out and about. SMS notifications can also be set up to notify you of any transactions into and out of your account. Better still, if using a credit card over a debit card, you can join loyalty programmes that further reward you for your purchases or transactions. Card payments also qualify for almost all casino bonuses.
For players who crave something familiar, then card payments are an excellent option. The payment process is very routine, and most, if not all new online casinos will accept card payments. It’s also a good way to keep a check on the amount being spent as card payments are all recorded in your bank account too.