As one of the most commonly offered payment methods in the online casino world, we have decided to conduct a thorough “investigation” of Visa. As a result, here is a comprehensive guide comprising all you need to know about Visa before depositing funds into your gambling account. You’ll get a full report on fees, currencies, exchange rates, list of countries, top online casinos accepting Visa, depositing and withdrawing procedures, casino charges, limits, timeframes, etc.
If you’re on the lookout for the best bonus out there, read on to find which casino perks you may be getting by using Visa. In case you need support and help from Visa, we have explained in detail how to contact the Visa Support Team and solve your problem or get the necessary info real fast. And finally, if you want to learn when Visa became profitable for the first time, keep reading!
Visa is a US company founded by Bank of America (BofA) in 1958 in Fresno, California. Bank of America’s original goal was to launch a new service, the BankAmericard credit card program, and provide it only in California.
During the 1950s, an average American had several revolving credit accounts with different merchants. They needed to carry many cards in their pocket and pay numerous bills each month. As this was inefficient, many companies tried to unify all payment channels in an all-purpose card. Joseph P. Williams, a leader of the in-house product development, studied and learned from the competitors’ mistakes, and created the BankAmericard.
At first, the launch went smoothly, but soon numerous incidents of credit card fraud started emerging. BofA ended up losing over $8.8 million. The bank succeeded in mitigating the damage, and the BankAmericard became profitable for the first time in 1961.
During the late 1960s, BofA started licensing the BankAmericard to banks in several other countries. An association of BankAmericard issuing banks was created in 1968, and in 1970 a new consortium took over the BankAmericard program. In 1976, the service was renamed, and Visa was officially born!
Visa is an extensive payment network with an international target market. It is present in more than 200 countries, including the UK, USA, Canada, Australia, Netherlands, Germany, India, etc.
Visa has partnered up with more than 15,500 financial institutions, and its products and services are used in many industrial sectors and niche markets, including the iGaming industry. From Fortune Global 500 companies, SMEs, individual clients, governmental bodies, everyone has at least one product from a rich Visa’s portfolio.
The company offers its products and services across different Visa regions: the Asia-Pacific Region, Canada Region, Central and Eastern Europe, Middle East Region, Africa Region, Europe, Latin America, the Caribbean Region, and the US Region. Another positive is that customers from most accepted countries can use Visa for both deposits and withdrawals at online casinos, although some restrictions apply.
Visit a banking institution
To obtain any Visa card, you need to visit your local bank and open a bank account first.
Open a bank account if you don't own one
You cannot set up a Visa account and order the card from Visa directly, as it acts as an intermediary between your bank and yourself.
Ask the bank employee to suggest the best Visa card for you
Visa cards come in all shapes and sizes so make sure to get expert advice on which card to choose.
Once you've defined everything, the card will be ordered
The bank will order a Visa card for you and will let you know by phone or email when it is ready for pick-up.
Start using your card
Your Visa card and PIN number will arrive via email and the card will be ready to use.
To deposit funds into your gambling account, visit the cashier page, and select Visa as your preferred deposit method. You will be asked to fill in the form and provide the credit card number, cardholder name, expiry date, 3-digit CVV security code, and the amount you want to deposit.
The withdrawal is as straightforward as making a deposit. Fill in the form as mentioned above, and enter the amount you want to cash out. Note that Visa often texts a unique code asking cardholders to confirm transactions. However, be aware that many online casinos don’t have Visa as a withdrawal method on their cashier page.
We suggest you check the casino’s T&C and payment methods page before depositing money. Such casinos usually offer bank transfer as an alternative, or you can select the one you prefer. Here are the top 5 casinos that accept Visa cards as a payment method compared.
Visa sets interchange fees that vary from one country to another. Cards issued outside EEA (European Economic Area) that send money to a merchant in the EEA are charged Inter Visa Europe fees ranging from 0.20% to 1.50%. Consumer cards issued in the EEA transferring funds to a merchant in the EEA pay 0.20 % to 0.30% for regular cards, while V Pay is either free or costs 0.20%.
Visa includes currency conversion costs. It selects a conversion rate from those available in the wholesale currency market for the specific date. The rates vary from the ones Visa receives or mandatory rates set by the government of a country in which the transaction was made.
When using Visa at an online casino, the fees may vary depending on the card you use, the bank that issued the card, and the casino’s payment policy. Deposits rarely incur costs, while withdrawals may be surcharged. Read T&C and check the small print first.
For example, Playamo, King Billy Casino, Royal Panda, Rizk have no fees for both depositing and cashing out with Visa. Spela also doesn’t charge anything if you cash in with Visa.
But, BitStarz casino may charge between a 2.5% and 10% fee on depositing funds with Visa credit card. Similarly, 7BitCasino has a 2.5% depositing fee for both Visa credit and debit cards, while cashing out is free of charge.
One of the benefits of depositing money with Visa is that these transfers are processed immediately. This means that your online casino balance ought to be funded in real-time. In other words, once you confirm your Visa transfer, you can directly head to the casino’s lobby to look for your game of choice.
When the process is reversed, and you want to cash out the winnings, the average time for processing this request is between 1 minute and 7 days. But, in most cases, the funds will appear in your account in 1-3 business days.
The average minimum amount you can deposit in your gambling account with Visa ranges from €10 to €50. The maximum amount you can cash out using Visa can be anywhere from €1,000 up to €50,000 and this usually depends on the casino itself. These numbers may be per transaction, per week, or month. If this isn’t specified, check the casino’s T&C to avoid unpleasant surprises.
Bear in mind that the maximum amount to deposit or withdraw may depend on player status in some casinos, meaning the higher your player level, the bigger the limits are.
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Visa EMV Chip cards are among the most secure payment methods available. Strong Customer Authentication (SCA) requires Visa cardholders to provide additional data when making a payment: PIN, OTPs, and 2FA provided by Visa Secure technology.
Real-time fraud detection tools are applied online, at PoS, or ATMs to detect fraudulent activities. Visa features PCI DSS, the most stringent Payment Card Industry Data Security Standard. 3-D Secure 2.0 protocol improves payments’ security and authorizations and ensures a seamless digital payment experience.
All Visa products and services are powered by VisaNet, a proprietary transaction processing network that delivers the latest innovation in mobile financial services.
There are two ways to contact Visa. The customer support page provides a number to report a lost/stolen card and a link to toll-free numbers to call directly for other inquiries. The contact us page offers a live chat, email, and list of free phone numbers to call their Global Customer Assistance Centre. Which option will be available depends on the country. Visa offers different emails per country or a contact us form, and they respond to emails within 48 hours.
To report stolen or lost cards, in the majority of countries, you will call 1-800-847-2911. However, there are other numbers, as well. To report a lost card in Germany, you’ll dial 0800 8 118440. In Canada, the phone number for general inquiries is 416-367-8472. The website itself has tons of well-organized FAQ sections on almost every page, including support/contact, full of useful information.
Our experience with Visa support
Besides Live Chat and an online form, the most efficient way to contact Visa is to send a direct message on Twitter, which we did. They replied quickly and provided a thorough answer. If you decide to email them via an online form, you’ll wait for the reply at least 48 hours. So, from experience, we advise you to tweet a direct message to @askvisa. It seems the fastest way to get a response.
Visa is a global electronic payment provider that connects different parts of the world with each transaction. The mere fact it collaborates with all major financial institutions and governments is a guarantee of how trustworthy Visa is.
However, real-life experiences confirm if the service is truly praiseworthy.
Since Visa is one of the most frequently seen banking methods in online casinos, this is the first positive signal that moves the needle in the right direction. The main benefit of using Visa for online gambling is that most casinos process deposits instantly and have zero fees.
The main downside is that you won’t be able to cash out the winnings with Visa cards in every online casino. Specific EU regulations and those imposed by certain Visa cards’ issuers have forced some online casinos to remove Visa from the withdrawal page.
Visa is a star in every casino’s depositing section but is at times lacking in the withdrawals. The main thing that annoys gamblers is when they have to initiate cash out with bank transfer. This is a significant setback, as processing time might last up to 7 days.
Visa enables several advanced payment solutions and upgrades to allow a seamless user experience. The cards with an EMV-Chip built-in enhance security with a one-time security code. Visa contactless cards (compatible with mobile devices) allow tap-and-go payments without a need to type in a PIN up to a specific limit (e.g., £45).
Sensory branding combines Visa-specific animation & sounds to convey information the transaction was a success, while Click to Pay speeds out the checkout experience by eliminating the hassle of memorizing passwords and tedious logins.
Visa Prepaid cards with pre-loaded funds don’t require bank accounts. The sum on the card limits the amount you can spend. Therefore, Visa Prepaid is a perfect fit for the punters to control spendings and not disclose banking details.
Moreover, the company has a variety of perks for its loyal users. You can access many exclusive offers and discounts with your favourite restaurant, shop, service, entertainment, etc. Select the type of card, payment type, and the region, and a list of offers will be right in front of you!
Mobile payment with Visa is possible on any smart mobile device. To pay with Visa using a mobile point of sales technology (mPOS), just integrate the cards to the payment-enabled phone/device (with NFC technology), look for the specific contactless indicator at the checkout, and hold the device over.
Contactless payment solution is compatible with smart wearables, and you can use a touch-free Visa payment with Google Pay, Apple Pay, and Samsung Pay. All you have to do is download the app that suits your device, connect the cards you wish to use, and start shopping from your smartwatch.
- The company was named Visa by Dee Hock, the company's founder. The company struggled with trust and lack of acceptance from the outset, so he thought this word would help people associate the brand with a universally accepted product. Dee Hock, obviously, made the right choice.
- Bank of America had lost $8.8 million on BankAmericard in the first two years after launching the program. However, when overheads and marketing costs were calculated, the actual loss was around $20 million.
- Visa became profitable for the first time in 1961, four years after its inception. Better late than never.
- Remember: Visa is not a bank, nor is it a card issuer. The company doesn't store cash in its vault, and you'll never get any loan from them.
- The original blue and gold Visa logo was designed to represent Visa's state: California. The blue was supposed to signify the blue skies, while the gold part meant the gold-coloured hill in this American state.
- Visa has been a general sponsor of the Olympics since 1986, and from 2002 it has been supporting the International Paralympic Committee.
- There are more than 3.5 billion active Visa cards in the world today (and counting).
- As of April 2020, The UK Gambling Commission banned the use of credit cards in the UK to top-up online gambling accounts. However, the Visa debit card is still in charge and can be used!
Absolutely. The vast majority of online casinos accept Visa cards for both deposits and cashouts. Be careful. Some online casinos do not allow you to withdraw the money using Visa cards.
When you are depositing funds, most casinos will not charge you anything. But some online casino operators deduct between 2.5% and 10% from the transaction. The same goes for withdrawals. They are usually free, but there are exceptions. Read terms & conditions carefully and pay attention to the fine print in the cashier sections too.
Visa uses cutting-edge technology to prevent cybercrime. From microchip-enabled cards with one-time codes, 2-FA, real-time safety algorithms, 3-D Secure 2.0 protocol, and the highest level PCI DSS standards, Visa has it all!
Most probably yes, as Visa spreads across 200+ markets across the globe. The best way to get this answer is to visit your local bank and ask if they provide Visa services. You can also visit Visa’s website and, in its footer, open a drop-down with a list of countries.
The average time you’ll have to wait for funds to appear in your account is between 1 and 3 business days. But, sometimes, the processing can be faster, or longer, up to 7 business days.
Navigate to the cashier page, go to the withdrawal section, and pick Visa. Fill out the mandatory data, select the amount for cashing out, and confirm.
Visa processes transactions in more than 160 currencies and selects the currency exchange rate from a wholesale financial market for that day, or they have to use the fees set by the state where the transaction was made.
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