The internet has allowed the creation of a new form of entertainment: online casinos. These digital hubs are a nice gateway for those who cannot reach a physical casino or simply prefer the convince online casinos have provided. With a variety of payment options in today’s age, online casinos are open to a number of different payment methods. Visa Debit, MasterCard, EntroPay, POLi, and Bitcoin. Here, we will take a brief look at each form of payment and discuss the benefits of each one.
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Bitcoin is one of many recent digital currencies aiming to replace physical money. Although the value of bitcoin has decreased overall, it is still an acceptable form of currency for online casinos. As Bitcoin is still considered a youngster in currency history, a word of caution should be used if one decides to use this payment option. However, there is one great benefit to this form: no fees whatsoever from any bank or any financial institution! Just as a reference for those not familiar with Bitcoin, all earnings in this form are stored either on a cloud-based platform or on one’s personal device.
POLi is another digital currency created by the Australia Post. Despite its origin in Australia, this form has gained attraction in the New Zealand online casinos. Unlike Bitcoin, POLi is accepted by several Australian banks. While this can be good for convenience for some with accounts to these banks, there is the downside of a potential transaction fee.
In European countries, EntroPay is the dominant digital currency. This is a good method for ones with poor credit or, for whatever reason, cannot obtain a debit or credit card. EntroPay is based on the Visa payment system and it is represented by the use of a digital card. For security, no bank or card information is shared during transactions. The drawback to this method are, as one might expect, the dreaded fees. Transfers between bank and EntroPay charges a 4.95% fee, a 1.95% fee when receiving wages from alternative sources, and a $6 fee for transferring money back into a bank, debit, or credit account. As fees tend to have a bad habit of stacking up overtime, using EntroPay should be carefully considered.
We now come to one of two of the most recognizable currencies: the MasterCard. Both debit and credit cards can be used to fund an online casino account. The interest rate on these credit cards are thankfully low, but, again, these interest rates do stack up overtime by repeated usage.
1. Visa Debit
Lastly, we come to the second of the most recognizable currencies: the Visa Debit Card. Debit cards do not charge interest like credit cards, but they may not be free of all fees. Again, there are potential fees to keep an eye out for. New Zealand, specifically, has a range of banks supporting the Visa Debit card. Other debit cards not associated with any of the local banks may charge additional fees, such as a flat monthly rate. Otherwise, besides the mild annoyance of fees, the Visa Debit is a quick and super easy payment method! To date, this is the top transaction system in New Zealand.
As we move on to 2019, new digital currencies are ever expanding and, no doubt, additional payment methods will be created for New Zealand’s online casinos. Whatever one’s choice of transaction maybe, it is important to always take good care of all earnings and private information! As such, learning the ins and outs of one’s transaction method is always a good idea. Doing so can help one prevent from paying an unexpected fee or interest. Until the jackpot hits, happy gaming!