If you aren’t scared of letting your card details be registered online, credit cards is by far the most convenient and cheapest way of handling your payments. The same 128-bit cipher code is used among the most gaming companies. The same cipher is also used with companies like Neteller and Moneybookers, so it would be reasonable to say that this is a safe and well respected way of handling sensitive data. In addition to this the CV2 code will never be stored locally since that’s not allowed according to VISA and Mastercard rules. This code have to be stated everytime you make a purchase online. You can find your CV2 code on the back of your credit card along with some other numbers. Our “code” is the last three digits.
Be aware of that different bookmakers got their own rules for fees, minimum deposits and payment handling times. However the rules below is how most of them operate.
All serious companies today will give you the opportunity to use credit cards for depositing money into your account. Some actors would ask you to provide all your card details every time you make a deposit, but more common is that they store your card number, expiry date and name the first time you use it.
When the card has been registered you’ll need to insert the amount you’d like to deposit, your CV2 code and confirm by entering your account password. If there’s no issues with your bank or details so the deposit can’t be done at all, you got your money within a second.
Nowadays many gaming companies offer free and unlimited deposits via credit card, but some of them still claim a fee when depositing. The worst kind scenario would be a fee of 3% of the sum you’d like to deposit.
When it’s time to make a withdrawal from your account this is handled differently depending on if you used VISA or Mastercard depositing. With a VISA you just have to confirm the amount and your password, to send the money back to the bank account the card is connected to. Because of a new Mastercard policy from 2007, this is not possible when it comes to using Mastercard. In this case you need to send your money back to your account via an international bank transfer.
To make an international wire transfer you will need to know some bank details for your account. After that first withdrawal these are normally stored within your betting account so you don’t have to enter them for future withdrawals. The details you need are the bank name, the banks address, your IBAN number and SWIFT code. An IBAN (International Bank Account Number) is a combination of letters and numbers in groups of 4 symbols and is an extension of your normal bank account number. A SWIFT code is also known as a BIC, which is a specific code for your bank. Normally this code is a 8 letter word. You can find these details from your banks website, on your account statement or simply by contacting your bank.
A withdrawal with a VISA can take up to 5 days while a wire transfer can take up to double the amount of time. Normally you’ll get your money within 2-3 days though.
When it comes to VISA cards all serious actors will let you make how many withdrawals you’d like without charging you. For an international wire transfer the rules are somewhat different however. A transfer like this will cost the company some money because of the banks fee. Because of this some companies will charge a small fee for each withdrawal, but more commonly is that you’ll get 1-2 free withdrawals each month before any fees are taken. If you plan on making many smaller withdrawals you might want to consider checking your bookmakers rules before proceeding.