| Why banks decline credit cards deposits from online casinos |
Joined: 11 Mar 2006
Posts: 101638
Likes: 46977
Location: Gambleville
3108371.10 NLN Dollars
Tournament Dollars
|
Why banks decline debit and credit cards deposits from online casinos
by No Luck Needed member ttwna2k for NoLuckNeeded.com
A frequently asked question when online gambling is why your banks has declined you debit or credit card deposit attempt at the online casinos. Credit card issuing companies, such as Visa and MasterCard had long frowned upon transactions with online gambling websites, but the questions of why your debit card deposit was declined by your bank, when trying to add money to your online casino account, increased dramatically over the past couple of years.
Debit card transactions used to be almost 100% successful, that is before the U.S. Congress passed the Unlawful Internet Gambling Enforcement Act (UIGEA) in late 2006, which made it illegal for banks to transfer money to and from the online gambling websites. Although the framework of this law is still in the works, some banks have already began declining debit card transactions to online casinos, while some online casinos simply find it very hard to find a credit/debit card processor for their transactions with American players.
Keep in mind that 99% of the time, when your bank declines your debit card when playing online casino, this doesn't mean you don't have enough money, but simply that the bank has identified the transaction as related to online gambling and has voluntarily blocked it. Some online casinos, such as some of those which advertise on this page, are turning to e-wallets, i.e. third party payment processors, to facilitate the deposits better.
|
|
