Visa Cards Online Casinos
Visa is a globally known banking solution that is widely used to pay for goods and services online and at checkout. It was first launched by Bank of America in 1958 and is now accepted in more than 200 countries across the globe. Today, Visa is believed to be one of the fastest and most comfortable ways to send funds to online casinos within minutes and receive winnings.
A Visa debit, credit or prepaid card is a plastic bank card that usually has a magnetic stripe and an electronic chip for contactless payment. On the face side, it usually has an embedded hologram, a 16-digit number and sometimes the holder’s surname, expiration date and the issuing bank. On the back, a card shows a three-digit CVV2 secure code near the signature panel and it should never be disclosed to anyone. Online casinos always ask to blur this CVV2 code or hide it in any other way before sending a photocopy of the Visa card for verification purposes.
Top 5 Visa Cards Online Casinos
Types of Visa cards
Visa offers a handful of banking products that can be used for gambling and betting purposes in online casinos. The four types of Visa cards are:
- Debit Card: it is linked to the customer’s bank account and enables him to spend only own funds
- Credit Cards: the customer may buy goods and services paying the funds credited to him by the financial institution. The funds are actually given to the customer as debt
- Virtual Cards: the card is designed for managing finances through online banking only and has no magnetic stripe or electronic chip for direct in-store payments
- Prepaid Cards: requires no bank account. A player just has to load money into the card for further spending.
Visa deposit to online casinos
Transactions through Visa are simple and fast, with a player having to follow just a few simple steps to send the money to the casino account:
- Check out if the online casino of your choice accepts Visa payments
- Pick Visa from the list of payment options
- Fill in the required fields such as credit card number, card holder surname, expiry date and a CVV number
- Enter the deposited amount and confirm your choice by clicking a related button
- Card holders must confirm the transaction by entering a security code sent by SMS or email.
Funds as well as transaction fees are deducted from the bank balance, and the online casino will receive the relevant amount within a few minutes (or instantly in some cases). Actually it does not matter if you use a debit or credit card – just ensure there is enough money in your bank account when using a debit card, or enough credit left.
Visa withdrawal from online casinos
Many online casinos in Canada offer Visa as a withdrawal option. The only limitation is that UK-licensed casinos have to abide by the rules of their licensor (UK Gambling Commission) that forbids using credit cards to bet online. If the online casino is licensed by Curacao, MGA, Kahnawake or other jurisdiction, it tends to accept all Visa products, debit and credit included.
Transaction limits in online casinos with Visa
As a payment processing network, Visa does not set any spending limits, but financial institutions that issue Visa cards do. Some banks enforce 24-hour limits for shopping transactions and online purchases, which can be CA$1000 and higher. When a player tries to receive money from an online casino via Visa, he faces casino-imposed limits that are normally around CA$1000 to CA$5000 per day for Visa debit and credit cards.
Transaction fees in online casinos that use Visa
A financial institution in which the player has an open account can charge “processing fees” or “transaction fees” for every online banking purchase. This means that Visa deposit and Visa withdrawal associated to online casino gambling can be subject to commissions that typically vary between 1% and 2.5%, and sometimes higher. Online casinos rarely collect extra charges from their players.
Credit Card Verification in online casinos
Almost every legal online casino asks a player who has deposited with Visa card to fill in a CCVF (Credit Card Verification Form) in order to confirm the user’s identity and make sure the person who has made a deposited is the legal owner of that card. Typically, a player has to send photocopies of the card, driver’s license or another equivalent gov’t-issued ID. In some cases, online casinos that accept Visa want the player to send them a utility bill to check out the mailing address. Anyway, this is a mandatory procedure prior to receiving any cashout from the online casino.