Visa Payment and Withdrawal

Visa is well know around the world and chances are, you have seen it on a credit or debit card.  It’s a very popular way to transfer money from a private bank account to a merchant, in exchange for goods and services.  However, it is also used as a way to fund online betting and gaming accounts and has been for many years.

The Facts

Website:  www.visa.com

It was in 1976, that a number of other, well known names such as BarclayCard and BankAmericard came together and formed VISA.  The name was devised by the founder of the company, Dee Hock, who thought the name would be easily recognisable in different languages around the world.

Contrary to what many people think, Visa do not issue cards themselves, they just act as a facilitator for transferring funds from one place to the next.  The most common place to see the Visa logo is on debit and credit cards.  By using a Visa credit card, it’s possible to spend money you do not have at that moment in time but will pay back at an agreed rate in the future.

It’s possible to obtain a Visa card via banks and financial institutions in the country you live.  If you head over to the Visa website, you can search for your country and check the list to see where you will be able to obtain one.  If you already have a bank account set-up, check your debit and credit cards, for the Visa logo.

You can also apply for a pre-paid Visa card, which you can do at banks, websites and various stores around the world.  There are physical and virtual pre-paid Visa cards.

Types of Payment

As your Visa card is linked to your bank or financial institution account, where you keep the money you use for spending, you do not have to deposit money in to it.  This is something you would have to do if using an e-wallet, such as Skrill or Neteller.

Therefore, by using a Visa card for your online betting and gaming, you are essentially providing a direct link between your bank account and the website you are using to gamble with.

Using Visa to Bet Online

Using Visa to deposit funds in to your online betting or gaming account, is very similar to using it when purchasing a product online.

All you have to do, is login to your favourite bookmaker or casino and head to the page where you make a deposit.  Choose credit or debit cards from the menu and look for Visa.  Once selected, you will be asked to fill in your Visa card number, your name is it is written on the card, the expiration date of the card and the last three digits on the back of the card, often called the security number.

Enter the amount you would like to deposit and upon completion of this information, the funds should be immediately available in your gambling account.  There may be a further verification process to go through, such as a password to enter, it all depends on what you have signed up for with your bank.

Some bookmakers and casinos place a minimum limit on the amount you can deposit with a Visa card but even so, it’s never any more than 10 Euro.  There are rarely any fees charged for depositing funds using a Visa debit or credit card but do check before hand, to make sure this is the case on the gambling website you are using.

Withdrawing funds from your gambling account to your Visa card, is done in the same way as a deposit.  However, you need to be aware of some differences between the Visa debit and credit cards.  When using the debit card, there is nothing to worry about, it goes straight in to the account.  If you are using a Visa credit card, you may have to make a deposit using that card first and you may only be able to withdraw a smaller amount than you deposited initially.  Furthermore, some gambling websites do not allow withdrawals to credit cards, so do check first.

It usually takes between 2 to 5 days for transactions, whether it be a deposit or withdrawal, to show up on your bank statement.

Pre-paid Card

The Visa pre-paid card can be obtained by applying for it at banks or online.  This is a great option for those who have had difficulty in using their credit card when betting or simply do not want to use a credit card for their online gambling.  They are reliable, secure and can be used at a number of online bookmakers, casinos and poker rooms.

Visa Advantages

• All the the top sports books, casinos, poker rooms and gaming websites accept Visa.
• It’s a very easy and quick way to deposit funds in to your account.
• Deposits will appear instantly in your gambling account.
• If using a Visa credit card, you can still make a deposit, even if you currently have no funds in the bank account linked to the card.
• Visa is well know worldwide and as such, comes with a strong reputation and high security measures.

Visa Disadvantages

•  By using a Visa credit card to fund online gambling, it can be easy to lose track of exactly how much you are spending.  Good self-control is a must.
• You have to input your card details to make a deposit and these details can be used by third parties to gain access to your card.  This can make people feel uncomfortable.
• Some casinos will not allow you to make withdrawals using a Visa credit card and some banks will not allow deposits to be made using a Visa card.
• Some sports books and casinos still charge a fee using a Visa credit card, so do check first.
• There may also be a minimal amount you can deposit when using Visa, although this not usually very high.

Summary

• A Visa credit or debit card can only be obtained from a Bank or other financial institution
• There is a pre-paid Visa card for those who would prefer a more controlled way of spending
• All the major sports books, casinos and gaming sites accept Visa
• Withdrawing funds with a Visa credit card can be difficult, a Visa debit card is the better option
• Although Visa security is very good, you have to enter all of your card details to make a deposit, initially at least
• Deposits and withdrawals are instant but may take a few days to show on your bank statement