VISA and MasterCard (as New Zealand casino payment options) shouldn’t need any sort of introduction. These two represent the most used credit, debit and prepaid card options globally, not just in our twin-island nation. You almost certainly have a VISA or a MasterCard in your wallet or purse, so you don’t need to sign up for anything else to get started betting online. They are both convenient options. Are there reasons not to use them, though? Join us as we explain all here.
VISA/MasterCard Explained
VISA has been around since 1958, with MasterCard emerging a touch later in 1966. Since then, they’ve both undergone changes in terms of how they operate, their names, the types of cards they offer and more. What has remained stable is that the world is divided into regions where MasterCard is popular, and others (most of them) where VISA is. New Zealanders have access to both.
The main reason you’d choose to use a VISA or MasterCard at your New Zealand online casino is convenience. It’s already in NZD, so there are no currency charges, and because you already have a card, you don’t have to waste time getting familiar with a new payment method. Moreover, you already know how to make payments using your card, and virtually every New Zealand casino site will accept these methods.
The downside to choosing this option is that there is always a risk when using your bank card details online. E-wallets, prepaid cards or bank transfer services either act as middlemen between your bank and the casino or outright prevent you from using any of your bank details at all. You can’t get safer than that. While most NZ casinos are safe, and using MasterCard and VISA at those sites is fine, they are always less secure than e-wallets and prepaid cards – that’s just a fact.
What you’re getting when you use a bank card to deposit is simplicity, speed and a method you know inside and out, whether you opt for a credit, debit or prepaid card. For that reason, the deposit process is insanely simple, as we’ll show you below.
Deposit Process
By now, you should know how this works – purchasing things with your bank card. If not, let’s remind you. Assuming you have a bank-issued VISA or MasterCard or a prepaid debit card from elsewhere, here’s what you need to do:
- Nip over to your NZ casino’s cashier page and select VISA or MasterCard.
- You may need to declare if it is a credit or debit card (prepaid cards are debit cards).
- Enter the card number associated with your VISA or MasterCard.
- Don’t forget to enter your CVV and expiration date, as well as the name of the cardholder. This must be you.
- Finally, you’ll be taken to the Verified by VISA or MasterCard two-factor authentication screen. Confirm the transaction using the 2FA method associated with your card
Withdrawal Process
As you can see, depositing with a VISA is virtually identical to buying goods online. It won’t surprise you to learn that you can also withdraw money via your bank card, and you’ll similarly do that. Select the VISA or MasterCard option on the cashier screen at your New Zealand casino and enter the required amount. You can then enter your card details when prompted. From there, confirm the transaction. If you’ve been through the KYC step, you can withdraw. Note that some card-based withdrawal options have associated fees, which we’ll explain below.
Fees and Limits
One of the notoriously tricky things to gauge about online casinos is where they stand when it comes to fees on VISA and MasterCard withdrawals. Admittedly, many don’t apply such charges, but that doesn’t mean that some won’t or, indeed, that your card provider won’t. We obviously can’t tell you what charges your card provider may have. However, from our experience, we can say that most online casinos in New Zealand won’t charge for deposits made with VISA and MasterCard. When they apply fees, casinos usually do it for withdrawals. These could range from small, fixed costs to percentages of the total value of your withdrawal.
VISA and MasterCard are, however, very ideal for high-rollers. Most typically require deposits of $10 to $20 but can facilitate deposits worth up to $50,000 if your casino lets them. VISA and MasterCard withdrawal limits are trickier to gauge, as casinos tend to make it up as they go along. Some will say that the minimum limit is $20 to $50; others will say $100 to $250. The upper limits also vary, but they tend to be high, if not thousands of dollars, then tens of thousands.
Transaction Times
It’s also worth pointing out that there are varying transaction times depending on where you play. Almost all VISA and MasterCard deposits are processed instantly – always and forever. However, withdrawals can vary. We’ve seen NZ online casinos process card-based cashouts in a day. Most will do it in two or three days. However, some stubborn sites out there will take the full five to seven days to clear card-based payments. This, of course, does not count the pending or KYC periods.
Why Use VISA/MasterCard at Online Casinos in New Zealand?
Simplicity is the main reason – no more, no less. If you just want to get on with playing your favourite games at NZ casino sites, then VISA and MasterCard fit the bill wonderfully. There are also top-drawer options for high-rollers, with most other casino payment methods not able to match VISA and MasterCard when it comes to high-limit deposits and withdrawals. However, suppose you want cheaper fees, faster transaction times, and arguably a touch more security (or at least the illusion of it). In that case, choosing e-wallets, payment gateways and intermediaries, or prepaid voucher options tends to tick our boxes. Of course, the choice is yours. There are pros and cons to both VISA and MasterCard options at online casinos in New Zealand.