The safest method, for the security of your own personal finances, is to use a prepaid virtual (or plastic) credit card. Prepaid credit cards such as Visa´s Entropay are ideal as dedicated payment tools for depositing funds into online casino accounts. Accounts can be opened online, without credit checks or references, and funds transferred from an existing credit or debit account into the prepaid account for immediate use at an online casino.
If somebody was ever to get their hands on your Entropay details, the potential loss would be minimal, if at all. However, this higher level of personal finance security comes at a price.
Prepaid credit card accounts are usually free to open and maintain. How Visa (or MasterCard) make their money is to charge per transaction. The initial funding of the card carries a 4.95% charge (about a fiver in every hundred) when you transfer into the account from your existing credit or debit card, and when you have won at the online casino and want to transfer the funds back, there is a further 1.95% charge.
It gets even worse if you are using different currencies – with an additional 2% charge on all transactions (and when did a credit card company ever miss the opportunity to skin you on an exchange rate as well?) – and you cannot transfer your winnings back to a MasterCard. Not even a prepaid one.
The Benefits of Pre-Paid Credit Cards
However, pre-paid credit cards remain popular method for depositing funds into an online casino, and there are several reasons for this. The charges highlighted above are not much more than are charged by the e-wallet providers, and in return you get practically total security plus a failsafe mechanism for ensuring that you keep your participation at the online casino to what you can afford. In poker, players who are having a bad run of luck are regarded as “going on tilt” and the same can happen under certain circumstances at an online casino.
If you can afford to lose £50.00 – and that is all you charge your prepaid credit card up with – should you lose, by the time you have gone through recharging your prepaid credit card, or registering another with the online casino, you would have time to come to your senses and avoid losing the rent!
There is also a certain satisfaction to hoarding away your winnings in an account which is not used for paying the mortgage or doing the shopping, and seeing the funds grow over a period of time. Rather than maintain individual balances in a number of online casinos, you can withdraw your winnings at each to the same card (even though it costs you 1.95% each time) and open new accounts with your card to take advantage of the welcome bonuses offered by various online casinos.
Funds from a prepaid credit card are usually instantly available when deposited on an online casino, and only take two or three working days to clear back when you have won.
Funds can be managed through an online banking system or from your mobile phone, and the security measures in place are amongst the strictest of all financial institutions.
Overall, they represent the best deposit methods for online casinos and, in addition to all the advantages mentioned above, there is one more important one – the wife doesn’t need to know about it!