Internet Banking Options for IGaming
IGaming offers multiple benefits to casino lovers. Top of which is convenience, as players no longer have to travel to land-based gambling sites. Instead, they will only need a gadget and a stable internet connection. It is no wonder then that many players are turning to iGaming including casino players from New Zealand even after the Gambling Act of 2003 was passed.
But it’s not enough for New Zealanders to be able to play their games online. More and more casino players these days are getting fussier about the payment methods offered by online casinos. They want convenience and safety when it comes to online gambling sites offering banking options.
In this post, we will tackle the different payment methods offered by NZ online casinos.
Thanks to the BetPokies team’s research work, we were able to write this article.
Most NZ online casinos will let you use both credit cards and debit cards. The main advantage of this internet banking option is that practically all sites accept Mastercard and Visa.
There are also prepaid credit and debit cards, so you can stay within your designated budget. Plus, credit cards typically have high spending limits.
As for the security of prepaid cards or a debit card, even if other people find out some of your credit card information, they won’t be able to easily identify you or trace it back to your issuing bank.
Using credit cards, however, has its disadvantages. For one, it can be quite costly to do transactions with big amounts. If you are using it for withdrawing your winnings, then be prepared to wait several banking days.
E-wallets are becoming quite popular because they let players control the amount they spend on online gaming. It’s also easy to use since you only need to open an account and fund it to pay for your online purchases. Below are some of the popular e-wallets offered in online casinos.
One of the benefits offered by e-wallets is that it allows instant deposits to accounts. This means you can start playing real money online casino games after funding your account using an e-wallet. Likewise, withdrawals are instant, too. Costs are low as well.
Many online casinos accepting players from New Zealand are accepting bank transfers or also popularly referred to as wire transfers. It is considered one of the safest ways of transferring money from one bank account to another. Practically every bank offers bank transfers as a core service.
What’s great about bank transfer as an iGaming payment method is that it is widely available internationally. This is because bank payments are covered by international bank rules.
However, it is no longer the fastest payment method as it can take days for cross-country bank transfers to be completed. Bank transfer charges can also be quite costly. If you are using this payment option, make sure you know how much this will cost you.
Poli is considered one of the most Kiwi-friendly bank transfer methods. POLi offers an added layer of security for players depositing to their online casino accounts. Its proxy server allows players to log in to their NZ bank account and then release funds to the online gambling site in real time.
This means POLi doesn’t make you wait as long as other banks with their transfers. It is safe as Poli does not release the player’s information to the online casinos but only releases the money.
Plus, this payment method is free of charge. However, you cannot use Poli to withdraw your money or winnings from the casino.
Comparison of Internet Banking Options for iGaming
All of the above internet banking options for iGaming have their own pros and cons.
The same cannot be said of international bank transfers as you need to input additional information and bank transfers, especially international ones are typically tedious.
As for costs, PoLi and e-wallets are clear winners since they charge zero to little fees for depositing to your online casino accounts. On the other hand, credit cards and bank transfers can be quite costly.
As such, if you are considering using these two methods, make sure to check your bank’s transfer charges first.
Safety and Security of Internet Banking Options for iGaming
Make sure to check the security and safety features when choosing a payment method for your iGaming needs. Here are some of the security measures implemented by various banking methods to ensure the data protection of users.
Cyber threat intelligence– This is a proactive technology designed for the identification of emerging and current cyber threats.
Data encryption technologies– Many ensure data encryption when storing and transmitting the information of their users.
Anti-malware and antivirus protection- These recognize and remove threats like ransomware.
Automatic logout– When your account has been inactive for some minutes, then users are automatically logged out, so nobody can access the account if the device was stolen or lost.
Most NZ online casinos offer various payment methods to ensure the convenience of their players. But keep in mind that each banking option has its own advantages and disadvantages.
Some, for example, would charge higher fees than others or would take longer to process payments to online casinos. It is important then to take the time to pick the right banking method for you.
Gambling can be both addictive and destructive. If you or someone close to you is suffering from a gambling problem, then you can seek help by calling or texting the Problem Gambling Foundation of NZ 0800 664 262, or text 5819.