Deposit and Withdraw Banking Methods Explained
One of the many features that make or break a New Zealand gaming site is the variety of banking methods available. If you’ve ever any questions about banking when gaming online, then you should be happy that you landed on this page because we’ll give you all the answers.
Online Casino Banking Regulations
However, before we proceed, you should know that online gaming authorities have put in place some regulations of online casino banking that mostly seek to protect your interests as the gamer. There regulations are such as;
The strict guidelines are against money laundering via online casino games dictate that you must cash out with the same payment method you used to fund your account. This of course is unless your deposit method doesn’t accept withdrawals.
All casino sites accepting Kiwis are also required to have 128-bit SSL security encryption protocol. This should be done to guarantee the security of the funds of gamers, together with the security of the personal information that they are bound to give out during verification.
Before you bank with any New Zealand online casino, the house will require verification, upon which you are required to verify that you are who you claim to be. You may have to provide a document for proof of identity as well as something to confirm your physical address.
What Banking Methods are Accepted in New Zealand?
There are a variety of banking methods accepted in New Zealand online casinos. They include;
Credit and Debit Cards
These are perhaps the most common banking methods for online casino sites in New Zealand. They are very easy to use and virtually any Kiwi above 18 years owns a card. They are also quite secure and they support larger transactions, something that high roller Kiwis will appreciate. Excellent examples credit and debit card merchants available for Kiwis include; MasterCard, Maestro, JCB, VISA and American Express.
Electronic wallets or e-wallets as they are referred to by Kiwis are perhaps best known for their high security feature and super-fast transactional speeds. They also come with added protection layers to prevent any form of cyber theft and as a result, they are among the most reliable payment options that you can use when gaming online. Top online casino banking e-wallets include Skrill, Qiwi, Neteller, Entropay, Euteller, and PayPal among many other methods.
Wire transfers are best suited for high rollers who would like to load and cash out large sums of money. However, the biggest issue with wire transfers for online gaming is that withdrawals take too long (about 5-7 business days) to be processed and, in most cases, their transactions come with hefty fees. But then again, such issues are seen by high rollers as negligible factors because of the efficiency of larger transactional limits.
The only difference between this check and the regular checks is that for electronic checks, all your details are filled in electronically as the name tends to suggest. This is an exceptionally secure channel of money transfer, and so, if you have safety as your number one priority, you should definitely go for it. However, you should be aware that withdrawals via e-checks take nearly as long as wire transfers.
Deposit Vouchers and Prepaid Cards
For players who want to quickly load smaller amounts, deposit vouchers are an excellent choice. For the most part, Kiwis like this option because of the anonymity factor. You don’t have to share your information with the house to load your gaming cash. You just type in the voucher code and your buy-in is loaded right away. The major drawback for these is the fact that you can’t use them to cash out. The most popular deposit voucher in New Zealand casinos is PaySafeCard.
How to Carry Out Transactions in New Zealand Online Casinos
Now that you have an idea of the various options you have for loading and withdrawing your money, let us now look at the actual step by step process that you should follow when depositing and cashing out. Here’s a quick highlight of what you should do;
How to deposit
First, sign up with the casino of your choice, among our top recommended sites then to deposit, follow these steps;
2. A list of available banking methods will appear in a drop-down list
3 . Pick your preferred method and enter your account details
4. Input the amount of money you want to load
5. Confirm your deposit, and your funds will be credited instantly
How to withdraw
Remember, before you cash out, you should have played any of the games in the house and won something. If you claimed a bonus, make sure you have fulfilled all the terms and conditions of the offer. From there, here’s how you can cash out;
2. Under Banking, hit the “Withdraw” button
3. Pick the withdrawal method you used to load your funds
4. Enter your account details and input the amount of money you want to cash out
5. Confirm the transaction and you are good to go!
Pending Withdrawals and How to Handle Them
As standard practice, most Kiwi casino sites have a pending period for withdrawal transactions. This is usually done for security purposes especially if you haven’t verified your identity with the house and it also gives gamers the option of reversing their withdrawals. Once you click reverse, the amount you’ve indicated immediately goes back to your account so that you can go back to playing with it.
At the end of the day, online gambling is all about entertainment. It is just a game, only that money is involved to make things more exciting. Thus, you should not use gambling as your primary source of income or gamble yourself to debt. Make sure you do not overdo it and if you feel it’s getting out of your hand, use self-limitation casino features such as deposit limits or get professional support to deal with the problem.
Frequently Asked Questions
How long do withdrawals take?
There isn’t a blanket amount of time for all the banking methods, for us to derive their transaction period. The transaction period is mainly pegged on individual casinos and banking methods. However, e-wallets are usually the fastest and wire transfers and e-checks will take the longest to process your funds.
What are the fees charged when withdrawing and depositing?
Again, there are no standard charges placed on the banking methods. This again comes down to individual casinos and the payment merchant that you decide to use.
Is it secure to use my credit card for gambling?
Yes, top rated New Zealand casinos use 128-bit SSL encryption to secure your information so you should never be worried about the security of your transactions. The only thing that you must be careful about is where you choose to play. To guarantee the security of your transactions, pick one casino from any of our recommended New Zealand casinos.
Which methods are best recommended for Kiwis?
This depends on what you value most. If you value speed, e-wallets are your best options but if you are a high roller looking to load and cash out large amounts of cash, wire transfers are your best options.
How long does depositing take?
Deposits across all payment options are usually processed instantly so that you can start playing right away.