Contrary to popular belief, Visa is not a credit card system but an electronic banking process that enables money to flow between financial institutions, markets, and customers in the form of liquid transactions. In other words, it is a payment processor. It is established in 1958 under the name “Bank America Card”. Back then, it was a debit card and some sort of membership system that was exclusive to Bank America customers. After several other banks had allied to offer a rival card, which was called MasterCard, Bank America decided to take a bold step. In 1960, it signed international agreements with global financial institutions and formed a separate company to issue new cards. That’s how the brand was born.
The new company decided to stand out of the current banking system. It was not another bank. Instead, Visa started to act like a payment processor, especially for global transactions. Back in those days, sending money abroad was a hard thing to do, and the payment processor company established all the necessary electronic infrastructure. Their offer to banks was simple: Let us handle your global financial transactions and pay us a little fee in return. Instead of issuing their own networks, banks from all over the world decided to accept this offer. To this date, it still operates like that.
It is not a bank, and it cannot see your financial records. If your bank is part of the Visa program, it can issue debit or credit cards that have the payment processor’s logo on them. This means those cards can be used anywhere - ATMs, POS machines, online payments, online casino transactions… Once you start a deposit or a withdrawal process, the network requests your bank for the information whether you have enough money in your customer’s balance to complete this transaction? Once more, a payment processor cannot see your financial records. If your bank answers this question positively, the transaction completes. All of these happen in mere seconds. As the end-customer, you don’t pay additional fees to benefit from the Visa network. The required fees are paid by your bank. However, the banks also present this fee to their clients by asking for other fees, such as annual account management fee.
Therefore, such credit card is not issued by a payment processor, but it is still issued by your local bank. Same goes for the debit and prepaid cards. But you get the right to use its global network to make payments anywhere you want, including online casinos.
There are lots of casinos accepting visa, so supporting this payment method is not a key criterion for the users to verify the casino. It is an important factor, but also it is a very common one and does not determine the quality and reliability of a casino. Therefore, the following criteria are to be checked while evaluating and selecting the best casinos:
More information at http://slotmine.com/visa-deposit-method/
Take out your branded card and take a look. It will have one of the following logos on it:
All the card types also have a prepaid version, and there is a vast majority of online casinos that accept prepaid visa cards.
The procedure of applying for a card differs according to its type.
Please note that these are general information. The country you reside in may have different financial procedures. For example, seeing Visa debit cards in stores is a regular thing in the US and lots of the European countries. But such an option does not exist in most of the Middle East and Asian countries.
As a customer, you can get direct support from Visa itself. The company offers travel insurance, emergency services, and security services. You can access the customer support from the company’s official website. The fastest way to reach them is to give a call to the support service. US customers can call 1-800-847-2911. International customers should call 1-303-967-1096.
However, note that this support for end-users will be limited. Once more, they cannot see your financial balance. Most of the payment problems will still be solved at your local bank. The customer support is mostly for emergency issues, such as stolen cards and/or travel problems.
Can I use Visa cards at online casinos? If so, how?
Yes, you can. Credit and debit cards can be used for online gambling. In fact, they are probably the most popular payment methods at online casinos. These websites accept card payment like any other online merchant. In short, you can make a deposit or a withdrawal to/from an online casino with your card. This type of websites also known as “Visa casinos”.
Do online casinos ask for additional fees for VISA payments?
No. The majority of online casinos do not ask for a fee if the customer decides to use a credit/debit card. However, there are still some exceptions. Check the “payments” page of online casinos accepting visa and check yourself.
How long does it take to withdraw with VISA?
Depends on the casino. Usually, it lasts 24 hours. However, it may last to three business days too. Again, check the payments page of your casino and contact your bank.