Online banking methods at casinos in New Zealand
Transacting at online casinos in New Zealand have traditionally been a challenging affair leaving the player who wished to deposit and withdraw money at the casinos with little choice, or forcing him to use banking methods not traditionally used at New Zealand e-commerce sites. Recent regulations have decreed a change in the industry with new operators set to enter the market. Kindly perform a search online for newzealand-online-casino to view the availability of online casinos for the New Zealand market along with their selection of casino games and supported banking methods for the NZ$-currency.
What are the most popular banking methods in New Zealand?
Traditionally, debit and credit cards have been popular simply due to the fact that they have been always used to conduct every-day financial transactions. Also a favourite to use in online shopping, it was only natural for online casinos to first adopt these payment methods as the payment process at the casino is similar to that of any online shopping site. They are readily accepted at most online shopping sites but there might be a variance in processing fees. The most commonly accepted cards are Visa and MasterCard.
Another, traditionally, popular payment method at both online casinos and shopping merchants are direct bank transfers. This banking method involves using direct banking services to transfer funds directly from a player's bank account to the online casino without the use of a middleman. Typically there should be no fees as this is a direct transfer. Two direct transfer methods are Bank Wire, where the clearance of funds typically depends on the relevant bank, and Instant Bank Transfer which is usually instant and done via online banking.
What about e-Wallets?
e-Wallets, also known as digital wallets, have become most popular at online casino. This banking method allows players to transfer money easily between the wallet and the online casino and the player's financial and personal details are not exposed. The wallet provider could apply a charge when the wallet is funded and if money is withdrawn from the wallet but most providers would allow a number of free upload options. e-Wallets afford the player security and discretion along with speed and convenience. They cater for players who have no access to credit cards.
The main supported e-Wallets at online casinos are typically Neteller, Paysafecard and Skrill and they all fall under one owner, Paysafe. Other popular e-Wallets are PayPal, EcoPays and WebMoney. There is some work involved up front to enjoy all this convenience: The player first has to open a wallet and connect his cards, bank or other payment details. Then the wallet needs to be funded to open a balance. From there the online casino can be funded from the balance of the wallet. Any payouts by the casinos can be done back to the wallet.
What other alternatives are there?
Digital currencies, also known as crypto-currencies, have been gaining popularity around the world in recent years, mainly driven by the popularity of Bitcoin, which is used for electronic payments. The main advantage of these crypto-currencies is that it is decentralised., meaning that there is no single controlling institution of the network. Users of this method do not have to identify themselves when paying others, so there is a degree of privacy. Due to this privacy and anonymity, many online casinos sites offer this method almost exclusively.
Another interesting anonymous alternative to traditional banking methods such as cards, e-wallets and crypto-currencies is to pay by phone bill. Using this banking method layers use their mobile phones to make deposits and the cost of the transaction is merely addd as a line-item of the phone bill. All players require is a phone and an account with the casino operator that is au-fait with the service. It is as simple and choosing the 'pay by phone bill' option and making the deposit. The amount will be deducted from the player's phone bill.
How to use the popular banking methods at online casinos?
It has traditionally been problematic for New Zealand online casino players to effectively deposit and withdraw money to gamble online. Recent changes in local online gambling regulations have allowed new online casinos to enter the market. They bring with them the ability for online players to transact using the most popular banking methods available in New Zealand today. They can also transact in the currency of their choice an this includes placing bets and receiving payouts in the NZ$-currency. To use this, players are advised to first peruse the casino's payment terms and conditions.