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Written by Beatrix | Wednesday, February 24th, 2010
Only one month after the decision was made by MasterCard to crack down on online casino players using their MasterCard credit cards to fund their accounts, now VISA is following in the same direction. While using credit cards was usually a sure way to get money into a player account at an online casino, or poker room for that matter, it wasn’t the easiest way to withdraw funds. However, it’s not going to be that easy any more to use your VISA to put cash into your account.
VISA has reported that they will begin preventing transactions labeled “online gambling” or with similar codes, as well as those transactions that go through a third-party payment system such as ewallets like Click2Pay or UseMyWallet. While the execution of the new policies don’t currently seem to be as serious as those put forth by MasterCard last month, it still has online casino operators and their US players worried, as both company’s bans apply only to US players.
These actions recently set forth are most likely part of a bigger plan for these companies, as “financial institutions,” to comply with the UIGEA, which is set to be implemented on June 1, 2010. While they’ve pushed the envelope, allowing transactions to go through unnoticed between players and online gambling sites, they are most likely getting scared that they’ve let it go on long enough.
You may begin to notice that online poker rooms and casinos no longer display the VISA logo on their payment methods page. Some sites have reported that they have had no problems with VISA transactions and are continuing to offer this option to their players. Other gambling websites have indicated that they have experienced long holds being placed on online casino and poker room transfers. While these holds are being set forth by the issuing banks, some VISA cards may be affected more than others. You might not want to risk putting your cash in limbo like that.
This will slow down some online gambling activity in the US, but only until the players find another way to fund their online poker accounts. Ewallets seem to be the best means right now to getting cash into your player account because they are third-party payment processors and there’s just more room to move, and eChecks are still the number one sure fire way, in our opinion anyway, to deposit, as well as cashout money to your online poker accounts. For today, we continue to play.
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Written by Beatrix · Filed Under news · |
