Debit cards have become our every day realia. They are highly popular and often used for all kinds of purchases and money transfers. Online gambling is not an exception. Debit cards is one of the most frequently used online payment options.
How does it work?
Debit card is a plastic card that was created as the alternative method of payment to cash. The main idea of the debit card and its functions are similar to e-checks (electronic checks) and cash. Debit cards are often used for all kinds of online or land purchases as it is very convenient to pay with the help of card instead of carrying so much cash.
When paying by means of debit cards, money is taken for the card's holder account. However, it is important to note that debit cards do not allow withdrawing more money than it is on the bank account unlike credit cards. So it means the debit card owner can spend only the money that is available without the opportunity to exceed the sum or "borrow" from the bank.
This may sound as a setback but many online players enjoy paying with the help of debit cards as this way they cannot spend too much. The most frequently used debit cards are Maestro, EcoCard, FirePay or PaySafeCard.
How to pay in online casinos?
It is very easy to use debit cards when depositing online casinos as players just need to go to the casino banking page, choose debit card as a method of payment, provide the account details and specify the sum. That is it, very easy, isn't it? And now let us have a look at the other advantages and disadvantages of using debit cards.
Debit cards benefits
- Easiness of usage comparing to other methods;
- No approvals or identities are necessary for making payments by means of debit cards;
- Special PIN protection;
- Worldwide usage in all online casinos and vendors;
- Round the clock access the personal account information;
- Interest fees are absent.
Debit cards setbacks
- Exceeding is not possible, which means that only the sum available on the account can be spent;
- Little protection when using debit card online as those who know debit card number can use it dishonestly without actually having it;
- As there is no need to identify the ownership of the debit card when using it, it is difficult to protect money when the debit card is lost.
Being one of the oldest and the frequently used payment option, debit cards have the alternatives such as electronic wallet or bank transfers.