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online casino credit card deposits always treated as cash advance????

Discussion in 'Online Casino and Poker Complaints - old section' started by casinogb, May 22, 2005.

    May 22, 2005
  1. casinogb

    casinogb Dormant account

    Occupation:
    casino
    Location:
    Europe
    Is it common for online casinos to treat a visa credit card deposit as a cash advance. This means that when you get your credit card statement, not only have you paid your despoit amount, but also will be charged an extra 2% or so as the "advance"?

    Having always played with debit card/checking cards, I have not had this before, but when I played a Playtech casino (at this time not naming the specific casino as I am awaiting their response to my question), I have been charged my deposit as a cash advance, which adds approx 2% extra.

    I went also to the FAQ pages of this casino and there is no mention as to how a credit card deposit will be treated.

    Welcome other peoples experiences.

    thansk!

    Leslie
     
  2. May 22, 2005
  3. nafanny29

    nafanny29 Dormant account

    Occupation:
    financail adviser
    Location:
    London, England
    I would guess that it is the Card Issurer that is making the 2% charge. More and more are these days. Any transaction to casinos shows as a "7995" so its easily identified by the CC company. Best to use a debit card these days :)
     
  4. May 22, 2005
  5. GrandMaster

    GrandMaster Ueber Meister CAG

    Occupation:
    Mathematician by day, online gambler by night.
    Location:
    UK
    I only had this problem with the marbles card. It was not stated anywhere in the T&C, I kicked up a fuss and they refunded the charges. It may have had something to do with the fact that it is owned by an American company, the card also came with a big warning that I must not use it in Cuba.
     
  6. May 22, 2005
  7. winbig

    winbig Keep winning this amount. webby PABnononaccred

    Occupation:
    Bum
    Location:
    Pennsylvania

    Sounds like it's the same as B&M casinos. Every time I've used them there, you're either getting money from either an ATM or from their cash advance machines throughout the casino.

    Think of it like this: You're not buying any goods or services. When you use your credit card at a casino - online or off - you're asking the credit card company to "front" you money so you can gamble. Clearly a cash advance.

    This still does not excuse any casino from not having this in their T&C.

    As far as the additional 2% being added, read the fine print in your credit card T&C's. I believe most if not all credit cards charge extra for cash advances; and some even charge a higher APR.
     
  8. May 22, 2005
  9. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    I think it's nothing whatever to do with the casinos.
    It the credit card companies.
    I use one card that makes this charge, but have 2-3 others that do not.

    But as said above - just think of it as the same as when you're charged to use an ATM. And think how much you're saving on transport by not having to travel to a B&M casino! ;)
     
  10. May 22, 2005
  11. blankley

    blankley Dormant account

    Occupation:
    self employed
    Location:
    uk
    I have a card which has charged 2% on all gambling transactions since November.

    They also credit 2% on refunds/payouts except for Bacs payments to the card eg BlueSq.
     
  12. May 22, 2005
  13. casinogb

    casinogb Dormant account

    Occupation:
    casino
    Location:
    Europe
    I have also spoken to the credit card issuer - a UK bank that bought out a US bank. They claim internet betting is classified as a "cash substitute" and like a cash advance and hence they charge a fee for that.

    I have pointed out to them, I do wish to see the T&C's that reference this specifically to internet betting as they should be specific as to what "cash substitute".

    So it is not really a fault of the Playtech casino, though of course, all online casinos should reference that credit card payment may be treated as cash advances and players should confirm first with their credit card issuer.

    cheers

    Leslie
     
  14. May 23, 2005
  15. nafanny29

    nafanny29 Dormant account

    Occupation:
    financail adviser
    Location:
    London, England
    Although I lothe credit card companies in general for their pure greediness I understand why they charge for online casino transactions. Its the same as a cash advance really, In theory you could deposit $500, withdraw it without gambling and get $500 in cash!!!
     
  16. May 24, 2005
  17. casinogb

    casinogb Dormant account

    Occupation:
    casino
    Location:
    Europe
    yes, I understand that, but as we all know, not all credit cards do the same.

    Credit card companies should really be clearer as to what is described as a "cash substitute" and indeed, maybe casino operators should also advise customers that they maybe charged an advance fee if using credit card payment. So as to make them aware of any nasty surprises on the credit card statement.

    Just out of interest, if you load up a netteller account with a credit card, do credit card companies charge an advance fee?

    cheers

    Leslie

     
  18. May 24, 2005
  19. winbig

    winbig Keep winning this amount. webby PABnononaccred

    Occupation:
    Bum
    Location:
    Pennsylvania
    I don't think Neteller would be considered a cash advance. They're providing a service and the bank would see that as such - whereas casinos aren't providing a service nor product for your purchase.
     

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