Visa Credit vs Debit vs Prepaid: What Are The Differences for Casino Deposits?
Before explaining the online casinos’ rules about differences in deposits with debit card, credit card, and prepaid card, let’s make sure all the players know the differences between these three types of cards by Visa.
Prepaid card is a card that is ordered from a bank, but this plastic card is not linked to a bank account. To spend any money from a prepaid card, the user first needs to load money onto the card. One cannot spend more than they have previously loaded to the card, and often, prepaid cards cannot be used for accepting withdrawals from online merchants, including casinos that accept prepaid Visa cards.
Debit cards are bank cards that are linked to bank accounts. With debit cards, the user also pays their own money only (this is the difference between the debit and credit cards), but debit cards can be “loaded” by other people, organizations, or online merchants. Sometimes, the banks allow certain borrowing on the debit cards, but that depends.
Credit cards are bank cards also linked to bank accounts, but when someone uses a credit card they essentially borrow money from the bank, to pay the bank later. Most credit cards cannot be used to accept payments from online merchants, including online casinos that accept Visa gift cards.
Now, the most secure and convenient way to deposit via Visa is using prepaid cards, because they are not linked to any bank accounts and therefore they are safer.
Debit cards are also good, but since they are linked to bank accounts, using them is a little bit more risky. However, the level of convenience at online casinos that accept Visa debit is the same.
As for credit cards, many online casinos that accept vanilla Visa, and also many governments limit using credit cards for depositing to Visa electron casino platforms. This is done to prevent people from borrowing money from banks to spend it on gambling. This limitation is a comparatively new one, and was accepted within the framework of Responsible Gambling policies, to make gambling safer, including safer in financial terms.