Credit Cards

phynqster

Dormant account
Just a reminder to players,
DO NOT USE CREDIT CARds
In my opinion just as many disputes are caused by credit card use as bonus abuse. Since the casino can usually not credit winnings back to a credit card and the casino does not get paid from the processing company for upwords of 6 months after the charge is made the casino makes the player jump through more hoops to get paid.
 

phynqster

Dormant account
Most casinos use processors that will get the card through. From what I have seen, over 50% of deposits are made by credit card
 

mgibson99

Dormant account
phynqster said:
Most casinos use processors that will get the card through. From what I have seen, over 50% of deposits are made by credit card
Really? What are you basing your 50% figure on? I was under the impression like Bruce that most credit card companies will decline deposits to online casinos.

Even if they accepted credit cards, I would still avoid them because most credit card companies would treat it as a cash advance and charge you all those outrageous fees.
 

Casinomeister

Forum Cheermeister
Staff member
mgibson99 said:
Really? What are you basing your 50% figure on? I was under the impression like Bruce that most credit card companies will decline deposits to online casinos...
I believe this applies mostly to players in the states.
 

Webzcas

Winter is Coming!
Credit Cards can be definately used by players who have credit cards issued by UK Banks ( such as me :) ).

There may be an issue with some Mastercards, but Visa Cards are fine. Although if a casino allows withdrawal back to your card, you can only withdraw up to the amount you deposited back to your credit card. The rest would have to be sent to another payment system that you have an account with, such as neteller.
 

Casinomeister

Forum Cheermeister
Staff member
But back to the main issue of this thread - phynqster is correct stating that casinos have to wait up to six months for these transactions to be processed. This leaves room open for possible hoops players have to jump through. Stick to Neteller - or other reliable webwallet companies.
 

sillybilly

Dormant account
The only problem with neteller is if you use a USD acc to deposit to a casino/sportsbook. They charge you 1.8 USD to buy 1 and when you cash in they stuff you with a rate of 1 to buy 1.72 USD. Thats a loss of around 4%. Significant if you win big. I dont know what the loss is on a credit card, so neteller might still be better.
 

thelawnet

Dormant account
casinomeister said:
But back to the main issue of this thread - phynqster is correct stating that casinos have to wait up to six months for these transactions to be processed. This leaves room open for possible hoops players have to jump through. Stick to Neteller - or other reliable webwallet companies.
I disagree 100%. If you deposit 500 in a dodgy RTG casino and they refuse to pay you, no problem, chargeback.

If you had done that with neteller, you would most likely to be short 500, as one of the reasons casino like these payment methods is they don't offer any real protection against the many rogue casinos there.

Further, you don't have to jump through too many hoops, if you play with reputable casinos.

Stick to viper, crypto, wagerlogic and boss casinos and you are unlikely to face any real problems.

Finally playing by credit card just makes sense, as keeping several thousand dollars or pounds in a non-interest bearing account is just throwing money away, especially here in the UK where you can get 5% interest.

Another thing is that if you pay by credit card you don't have to pay for your gambling until the bill comes. Again, this reduces the cost to you as that money stays in your bank account a couple of weeks longer.

There really isn't too much going for neteller compared to the combination of credit card protection, interest free period, money still kept in your bank account, etc.
 

caruso

Banned User - repetitive violations of 1.6 - troll
Charging back is hardly an option. If you do something so extreme as to put 500 ($1000) into a known disreputable RTG you have only yourself to blame, and to do so because of the chargeback option would be absurd - you risk getting blacklisted industry wide (or at the very least, RTG-wide), rights or wrongs of your case notwithstanding. And as you say: if you play with reputable operations, the issue doesn't arise.

The interest point is well made - Neteller is, in many ways, a massive ripoff operation: non-interest bearing, extortionate charges, dreadful exchange rates...talk about abuse of their monopoly status.
 

KasinoKing

WebMeister & Slotaholic..
webmeister
PABnonaccred
CAG
MM
caruso said:
The interest point is well made - Neteller is, in many ways, a massive ripoff operation: non-interest bearing, extortionate charges, dreadful exchange rates...talk about abuse of their monopoly status.
Amen to that!

Of course, we are spoilt here in the UK where we are used to not only free banking, but banks that actually PAY US to have accounts with them!
I believe it's very different in other countries, including USA.
Credit cards have their use - most notably for avoiding the 'use Neteller and we'll kindly double your WR' trap employed by quite a few MG casinos. :eek:

I have to love Neteller in many ways for it's ease and speed of use, but their website / accounting displays etc. are still crap and in need of serious improvement.

But what really winds me up - as it has since when I first signed up - is the huge joke on their home page!
I'm sure false information like this would be illegal in many countries

Make a withdrawal - 1.9% commission.
Transfer funds to a friend - 1.9% commission.
Use their 'Debit Card' - they charge you for just about everything - even NOT USING IT!
Free? Don't make me laugh! :(
 

GrandMaster

Ueber Meister
CAG
Clearly there is no substitute for doing your own research, but a credit card gives you a lot more protection than the other deposit methods. Neteller still has not explained how casinos can take money from Neteller accounts without the account holder's explicit authorization. If someone tried to do the same with my credit card, I would dispute the charge, and it would be removed. It would be interesting to find out whether Neteller becoming FSA authorized means any changes in this respect.

The exchange rate is another problem, as you can only have one Neteller account. If you play in a different currency you take a hit on the exchange rate both when you deposit and when you withdraw, whereas there are credit cards that don't charge commission of foreign transaction. Neteller would be much more attractive if you could have sub-accounts in different currencies.
 
Last edited:

nafanny29

Dormant account
Playing in dollars from the UK, the best possible card is the Nationwide debit card. You put me onto it GM :D and it really is a cut above any other method IMHO. No exchange rate fees or charges at all :thumbsup:
 
Top