Both debit and credit cards are very widely used in modern day life due to the fact they provide a secure, fast and convenient way of purchasing goods at shops or shopping online. This includes depositing funds into an online casino. The most popular credit card providers are Visa and MasterCard and they also provide debit cards. Other debit card suppliers in the UK especially are Maestro and Solo.
Both methods are very similar in nature as they both allow you to play with your deposited funds immediately at your chosen casino. Also, none of the casinos reviewed on Casino Manual charge any fees whatsoever for depositing or withdrawing using either a debit of credit card. If you do find there are fees, you should play somewhere else or look into another payment method. In terms of processing times, depositing using either method is instant but when it comes to withdrawing, the average is between 1 and 4 days. This is the main drawback when using either a debit or credit card at an online casino.
The differences between the two methods can be quite significant even though they appear to be the same. Debit cards provide a direct transfer of cash into a casino account from the player’s bank account. You can therefore only deposit what funds you have in your bank account whereby a credit card will keeping working until the card limit is reached. Debit cards can be deemed more favourable than credit cards due to the fact you are paying for the credit in the online casino straight away rather than paying for your usage at the end of the month.
Another difference is that credit cards entitle you to additional rewards and benefits. This includes air miles, points or loyalty points that you can redeem for prizes such as holidays, airline tickets and exclusive products. One example is that Barclaycard offer you the chance to win Premier League tickets every time you use your credit card. Another is that you can redeem Nectar points that you can use when doing your daily food shopping at Sainsbury’s, purchase products on Amazon or shopping at Argos. On the other hand, debit cards don’t offer the same rewards.
Saying that, it’s a lot easier to keep track of your spend using a debit card as you visit cash machines (or ATMs) more frequently than you receive your credit card statement. Credit cards offer you more protection than debit cards for example. In the UK for example, under Section 75 of the Consumer Credit Act, if you make purchases costing between £100 and £30,000, you protected. If an online casino was to go bust for example, you would be covered. So if you are depositing more than £100 a time, we would recommend you use a credit card rather than a debit card.
Looking at fees on the casino side, these vary but the majority of casino operators don’t charge for using your credit card with them. If you take bet365 for example, they don’t charge anything at all for both depositing and withdrawing using a credit card. One thing to note, credit cards are not allowed at many online casinos that take American customers due to the fact that legislation doesn’t allow it. Many US facing casinos have difficulty processing credit card transactions. If you are a UK customer, this won’t be a problem however.
Update – following our news article where BarclayCard will be adding a charge to gambling transactions in the UK, using a credit card at an online casino will incur a 2.99% fee on the wager amount or a minimum £2.99 free. This is effective as of the 28th of May 2012 – we would therefore highly recommend you use debit cards due to no fees being charged. Whilst the online casinos don’t charge fees themselves, BarclayCard will – we suggest you check with your credit card provider to see if you will be charged or not. To be safe, use a debit card.
If credit or debit cards are not for you and you want instant cashout times as well as not having to disclose your card details to an online casino operator, you could use other banking methods. Go back to the Banking Guide page for more options.