For New Zealand players and casino enthusiasts hoping to explore online gambling and the perks the come with it, one of the common concerns raised is the security of banking options. Just imagine having to entrust your financial and personal details to a payment processor just to facilitate deposits and withdrawals. If you are not careful, you will end up with a sob story that’s too common in the industry. Whether it’s about hidden fees, security or compromised personal information, there are plenty of concerns that can affect the NZ players. Good thing there are tried and tested online casino banking options in New Zealand, and all these have supported the gaming lifestyles of different types of casino players. If you are looking for a guide in choosing what is the best banking option that can be used in NZ casinos, then you can use the following guide.
Top Banking Options Comparison for NZ
Completing your deposits in your chosen online casino is made easier, thanks to a long list of supported payment options available for NZ players. Today, players from New Zealand can count on dozens of payment processors, but the most popular are Visa, Mastercard, Skrill, Neteller and PayPal. Each banking option has its own set of features that appeal to a specific requirement or gaming lifestyle.
Banking Options Reviews
While all these payment processors facilitate your payments online, their quality of services, limits and fees may vary. As a responsible casino player from New Zealand, you should know the details of each payment solution, compare and contrast their services, fees and limits before attempting to make a selection. Discussed below are the specific details about the leading banking options available for players based in New Zealand:
Credit Cards: Visa, MasterCard
Globally recognized, Visa and Mastercard are the leading payment solutions used in the gaming industry. Initially offering credit cards, Mastercard is now allowing customers to explore prepaid cards to handle their payments and fund transfers online. More than the convenience and global reputation that these card providers carry, Visa and Mastercard are also known for their security features, promising secured payments and protected customer information. See the best casinos accepting Mastercard as a payment option here.
Owned by Paysafe Holdings UK Limited, Skrill lets customers make digital payments in a fast and secure manner. Customers can choose from the Personal or Business account, and offers a strong focus on facilitating secure payments for gaming companies. Since 2001, the company has been trusted by gaming companies like Gameforge, Mojang, William Hill and Ladbrokes. See Skrill Casinos NZ here.
Trusted by millions, Neteller allows its users to upload funds, send and receive payments using a single account. The company is operated by Paysafe, and available in more than 200 countries, and works with dozens of leading payment options. For its online money transfer service, customers can count on protected transactions, as authorized by the UK Financial Conduct Authority (FCA). Neteller Casino List.
As a Finnish service, Euteller facilitates instant bank payments using the customers’ bank accounts. Just recently, the company offered a mobile payment solution called Siirto, a real-time mobile payment system where individuals will only need to use a mobile number to end and receive funds. See Euteller Casino rank-up.
PayPal offers online money transfers, and it can work as a viable alternative to cash or the use of checks. To ensure that its customers are protected from fraud and other questionable transactions, the company offered the PayPal Buyer’s Protection, and also boasts optional security key and a 2-factor authentication. Casinos that accept PayPal as a payment options.
Compared to other e-wallets and payment processors available for players from New Zealand, EntroPay delivers virtual cards that are disposable upon use. Virtual cards are free to use, and registration can be completed within 60 seconds. And when making payments online, members can choose from three different currencies. Entroypay casinos in NZ.
EcoPayz / ecoCard.
This payment processor allows customers and players to create free accounts, without the need for an existing credit card or bank account. Customers are also given complete control of their accounts and the opportunity to withdraw funds at ATMs, and this can be done by adding a prepaid account to the approved ecoAccount. EcoPayz casino list in NZ.
Paysafecard prides itself as a provider of seamless payment solutions without the need to maintain a card or a membership account. To facilitate online payments, customers will have to buy cards in various amounts or denominations,and payment online can be done by providing the 16-digit PIN provided. Casinos that accept PaySafe cards as a payment method.
E-wallet Banking- Pro and Contra
E-wallets or electronic wallets are the leading payment options in casinos that accept players from New Zealand. What makes this option works is the convenience; it allows customers to maintain an account online, carrying their personal and financial information, and facilitates easy payments online. Most top-rated New Zealand casinos now accept e-wallets like Neteller, making it easier for NZ players to complete their payments and fund transfers. Companies that offer e-wallets have boosted its layers of security, thanks to the use of PIN, security questions and 2-factor authentication.
While the security features have been enhanced in recent years, there have been reported security glitches that can make users feel uncomfortable. There’s a chance that impersonation may occur, allowing a hacker or another user to take advantage of the account. Another concern for many is the cost- certain fees may be charged when uploading funds and may come with transaction limits, depending on the casino.
Credit Card Banking- Pro and Contra
Traditionally used for online and offline merchant sale, credit cards like Visa and Mastercard have become the choice payment options for casino players based in New Zealand. Credit cards are accepted everywhere, and operators that accept NZ players put these cards as their preferred payment options. Just look for online casinos that feature the logos of Visa and Mastercard, and you can easily fund your account and withdraw your winnings.
Just like other payment options, the use of credit cards has its own set of drawbacks. Aside from the usual fees charged by online casinos, casino players have to contend with annual membership fees as well. And if you are using other lesser-known credit cards, you will end up with limited casino coverage. When used in withdrawing funds, customers will have to wait a slightly longer processing time, usually from 3 to 5 days. Also, some online casinos may require additional verification steps when using credit cards as your payment option.
Bank Transfers- Pro and Contra
Another tested way to transfer funds to a casino is through a bank transfer. Under the bank wire transfer option, you will authorize the transfer of funds from your bank account, into another account. With bank wire transfers, NZ players can count on more flexibility and anonymity since the receiving party will not ask for a long list of documents to verify the accounts. This is highly recommended if you are looking to move a large amount of funds.
Although most NZ casinos offer this payment facility, keep in mind that it comes with certain disadvantages. The primary concerns raised are the higher fees and longer waiting time. If some payment platforms are processed with 24 to 72 hours, bank transfers can take up to 5 or even 7 days.
Prepaid Cards- Pro and Contra
Prepaid cards are viable alternatives to leading payment options thanks to the security, convenience and flexibility that it bring to the table. This normally works for players from NZ who have trouble getting approved for credit cards. With prepaid cards, players no longer need to worry about a bank account or a good credit score. Signing up is fast and free in some providers, and the funds transferred are instantly reflected in the casino account just like credit cards.
The only problem with using prepaid cards is the fee. Normally, the first transaction that you will complete comes free of charge. But succeeding transactions are charged a certain amount or percentage. Also, if you are a regular player from NZ, you will find that using a prepaid card can be highly inconvenient. You will constantly reload the card to give you the necessary funds to transfer to your preferred casino.