| |
Credit Card payments have long been the de facto standard online payment service, but a growing number of credit card companies and US banks are refusing to accept credit card payments related to online casino gambling. The reasons that are given are the high chargeback rate that is associated with credit card payments related to online casino gambling, and the uncertain legal climate in the US. As a result, if a transaction is deemed to be related to online casino gambling, the transaction will not be authorized by some US banks.
How it works?
Any credit card payment is in fact a loan. If paid on time you are not charged interest, but if not paid on time the interest rate can be very high, although never exceeding 25%. The credit card holder is liable for the loss or fraudulent use of the credit card up to $50. However, frequently this fee is waved, provided the problem is reported timely.
Deposit Founds
After selecting a successfully registered credit card number, you may enter an amount you want to deposit. Because the casino pays a 'discount fee' on each credit card transaction, that can range between 1.7% to 4%, you are often required to make a 'minimum purchase' of $15 or more. After submitting your deposit, the bank that issued the credit card will check that sufficient credit is available on your card. Once the transaction is authorized your bank will send the money to the bank that handles the credit card transactions for the casino, and your are ready to play. You should check that your deposit is treated as a 'purchase' and not as a 'cash advance', because otherwise you will have to pay a cash advance fee.
Withdraw Founds
Note that you can often only withdraw the amount you originally deposited to your credit card. Additional winnings will typically be paid by check.
Link
Credit Card
|
|