Paysafecard is an Internet payment option that was launched in Austria in 2000 by four entrepreneurs. Though it is now a part of the Paysafe group, that owns the NETELLER and electronic wallets, it still has its headquarters in Vienna. The basic product is a prepaid card that can be used for online payments like making deposits at casinos. It is available in 43 countries including Australia. It is licensed by the Financial Conduct Authority, which is an indicator of its reliability. Paysafecard is a deposit only payment option and that is why many Australian online casino players do not use it.
Paysafecard Payment Option For Australian Casino Players
How to use the Paysafecard casino banking option
You do not have to register with Paysafecard in order to use the product. You go to the nearest retailer and buy the Paysafecard cards for the required denominations. Each card will have a unique 16 digit PIN. You log in at your online casino and opt for the Deposit option at the cashier. Select the Paysafecard payment method and enter the amount you would like to deposit. You then click the Deposit (or equivalent) button and will be taken securely to the Paysafecard site. Scratch the card and enter the PIN on it. If the amount you want to deposit is covered by more than one card, there is no problem. You can click on ‘enter additional PINs’ and enter up to 10 PINs at a time. Agree to the Terms & Conditions and complete the transaction.
Paysafecard is a deposit only payment option and you cannot make withdrawals using it. For making withdrawals you will have to access the online casino cashier, select the Withdrawal option and then the default payment method. In most online casinos it would be check payment option. Some of our recommended online casinos remit funds to players by bank transfer and if it is available then you can avail of it.
Pros of using Paysafecard casino banking option
- You do not have to register anywhere in order to use Paysafecard. At no stage will you need to use a credit card or bank account. You do not have to worry about sensitive personal information being stored somewhere on the Internet.
- You can purchase Paysafecard cards for cash without declaring what you will use them for. There is no trail left anywhere that you have made a deposit at an online casino, other than at the online casino. Paysafecard is the most anonymous option.
- With Paysafecard the deposits are credited instantly to your online casino account and you can start wagering immediately.
- With Paysafecard you are gambling with earned money and will not run up credit that you cannot settle when due.
- Paysafecard is a safe payment option. The card is sold with the number concealed. The PIN on the card can be used only once. The product is regulated by the Financial Conduct Authority.
Cons of using Paysafecard casino banking option
- The biggest disadvantage of Paysafecard is that it cannot be used for making withdrawals at online casinos. If you deposit funds through Paysafecard, you will usually receive your winnings through check payment. It could take about two weeks before you get the money in your bank account.
- Every time you want to make a deposit you have to physically go to a retail outlet that sells Paysafecard cards, which could be some distance from where you live. It is possible to buy the cards online, but then you will need to use credit cards or electronic wallets and will lose the core advantages of Paysafecard.
- Paysafecard cards are available only in set denominations. You will often have to use more than one card to get the exact amount that you want to deposit.
- Other payment options like credit cards and electronic wallets reward loyalty through reward points, cash backs and promotions. You will not get any such freebies with Paysafecard.
Tips about using POLi casino banking option
You have to weigh the pros and cons very carefully before choosing POLi as your payment option. If the online casino will post a check to you when you withdraw funds, all the advantages of POLi will be negated. In this circumstance you need very compelling reasons to go ahead with POLi. But if the online casino is willing to transfer funds to your bank account electronically and even recover the costs of that transfer from you then you could think of using POLi.
The really compelling reason for using POLi is that you are averse to online transactions through credit cards or maintaining funds in online electronic wallet accounts for fear of identity theft or hacking. There is no cause to worry, but if you are uncomfortable then you have to look at POLi. The POLi option does not use credit cards at any stage.
For you to use POLi, your bank needs to be registered with POLi. Most major Australian banks are registered. If you are uncertain about the situation of your bank, you can check out the list of registered banks at the POLi web site. If your bank is not registered, it may not be worth opening another account in a registered bank. Again, you need to take a very considered decision in this regard.
If you are using POLi, there are some small things you need to be careful about. Check with your bank what will be their charges, if any. Also when making the deposit transaction make sure that the connection is secure at all stages.