Visa Electron is very similar to a Visa debit card – in fact, you’d be hard pushed to find any differences aside from the logo on the card itself, as they operate in exactly the same way. The only difference is that Visa debit cards allow you to go overdrawn up to a small limit, whereas Visa Electron will only let you spend what you have available in your connected bank account.
The great thing about Visa Electron cards is that they are accepted by almost all online casinos, as well as a multitude of online and offline businesses all around the world, including in New Zealand. You can also use them to make withdrawals of New Zealand Dollars from any ATM.
Simply visit a local branch of your bank or enquire online if you have internet banking facilities with your account. You can then apply for a Visa Electron card if it’s available (some banks only issue Visa debit cards, or they are partnered up exclusively with MasterCard instead). Once your application has been reviewed and approved, you can expect your card to arrive in the mail within five to seven business days. You PIN will arrive separately for security purposes.
It’s very easy. Head to your casino of choice, log in as normal and go to the cashier via the big (normally green) ‘Deposit’ button. Enter the amount that you wish to deposit and choose ‘Visa Electron’, ‘Visa Debit’ or ‘Debit Card’ as your payment method. Fill in the details from your card as instructed onscreen: the main card number across the middle, the expiry date (sometimes the valid from date too) and the three digit CVV number on the back of the card near the signature strip. Hit enter and the casino will electronically contact the bank. If you have available funds in your bank account, it will be approved and you’ll have the money in your casino account within seconds. If your balance is insufficient, the request will, of course, be declined.
The sheer speed with which you can make a deposit at a New Zealand online casino is the major benefit of using Visa Electron. Couple this with the fact that it’s accepted all over the world, you can make instant transfers and that you can easily manage your budget (seeing as you can’t go overdrawn) and you can start to see why this particular payment method is so darn popular around the world. Finally, compared to other methods such as eWallets, there are no fees involved when you choose to deposit at an online casino via Visa Electron.
The main downside is that Visa Electron cannot be used for withdrawing from the casino, so you’ll need to enter your bank account details or use an eWallet for getting a hold of your winnings. Lastly, as with all cards, there is always the outside chance that your details could be stolen – to counteract this, never make a transfer online unless using a secure SSL connection (check that the URL contains ‘https’ to confirm that this is the case) and regularly run anti virus software on your computer or mobile device to prevent hackers tracking your keystrokes.