There are now many different ways to make your deposits at your favourite casino sites. So perhaps it is a surprise that probably the most popular remains the credit card. It seems that the tried and tested, traditional methods of payment are still the most trusted by many players. And when it comes to credit cards, Visa truly is the most trusted name around. Being the first clearly helps. Visa was the first credit card to launch in the United Kingdom, so there was a time when it too was the new “modern” way of doing things.
This was back in the 1970s. First launched as Barclaycard in 1966, it took a while for this new-fangled bit of plastic to take off. But a sustained TV advertising campaign and the sheer convenience of the new credit card saw it go from strength to strength over the succeeding decade.
Now, with online payments an everyday matter for most people, even the original plastic card is barely necessary. A few taps on a keyboard or screen are enough to pay for just about anything. So it is easy to forget what is actually happening.
When you make a payment by visa card, it is worth remembering that you are not in fact actually paying any of your own money at all. What you are doing is borrowing the money from a bank or other financial institution. Making a payment is therefore in effect authorising your bank to make a payment on your behalf. You then have to pay the bank back when you receive your monthly payment. In virtually every case, this will also mean paying the bank more than you borrowed, because of interest charges, which are generally set at around 20% per year, equivalent to around 1% per month. The only way out of this is to pay your bill in full every month. Even this does not work in some instances: if you have an outstanding balance from the previous month, you will continue to have to pay some interest. And some accounts do not offer any interest free periods, even if you do pay in full. This is particularly the case with cash advances (if you withdraw cash using your credit card at an ATM for example).
But the big question most casino players need to know when using their credit cards to make their deposits at an online casino is: is it safe? Well, to put things in perspective, it is certainly much safer than sending cash in an envelope! But there are three main aspects to consider…
Firstly, when it comes to fraud, using your Visa credit card gives you a measure of extra protection, when compared with using a debit card or other payment method. UK cardholders are not financially liable for the fraudulent behaviour of others. Under Section 75 of the Consumer Credit Act, credit cards must provide protection for a purchase above £100 and below £30,000. Importantly, debit cards do not offer this protection, which is a good reason why it can be a good idea to pay for things with your credit card instead. In general, the UK Card Associations members’ Lending Code also provides protection from most liabilities. This means that if you do become a victim of fraud you are protected, and should not suffer any financial loss as a consequence – provided you have not acted fraudulently or without reasonable care (e.g. you haven’t written down your PIN and haven’t disclosed it to someone else).
Secondly, there is the possibility of suffering from identity fraud. You can help to reduce your risk by being careful when entering any banking details in public, password protecting your phone (in case it is stolen) and shredding any financial documents for example. Always remember that your bank or even the police will NEVER ask you to reveal personal information like you PIN number. So if you are ever asked to do this over the phone or online, always refuse, no matter who the person /organisation say they are.
Finally, you need to consider the security of the casino site you have chosen. All sites recommended by 5slotsites.com have been checked out by us. Many are owned and operated by major reputable big name international gaming operators – names you can trust, with reputations to protect. But in any case, always look out for the “padlock” symbol and “https” on the address bar in your browser when you make a payment. The “s” and padlock icon mean that when you enter your details, the information will be encrypted and totally secure before being sent from your computer or device.
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