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doyellowboots
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21 March 2012 - 8:47pm

CC's and casinos

5 replies • Last post

Ed,

Why do the bigger and more reputable casinos not do some kind of deal with the credit card companies about withdrawing back to a cc?

The message I get constantly is that the casinos are only allowed to pay back to a card the amount that originally came off it.

I can completely understand this in the case of ordinary retailers making refunds etc. But online casinos are in a unique category all by themselves surely?

What it means currently is that it costs a lot of money in 'charges' to get your winnings from a casino. For example I have to pay a fee to the online payment service I have to use (mainly because of the cc rule I am talking about) & often a bank charge as well. This all stacks up.

Nothing will change I know, as like banks the cc companies seem to act like untouchables (until forced to walk the plank and make changes by central government) but at least it would be encouraging if we players knew that a dialogue about this issue was taking place?!?

Or are casinos so cynical about anyone actually wining from them that the whole issue of paybacks is right at the bottom of any TTD (things to do) lists haha Smile

What are your and other people's thoughts?

ptnoctipaulo
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21 March 2012 - 9:34pm
#1

I never use the credit card to deposit in the casinos but i use it on skrill to make deposits and here it is possible to withdraw to the credit card.

auCL-Ed
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22 March 2012 - 6:54am
#2

I'm afraid I do not know the answer to that one. I agree that it would be convenient for people with your circumstances. Maybe it is an inherent limitation of the way the credit card system is designed - i.e. merchants can only refund original purchases?

I know with my Moneybookers account I can't withdraw to my credit card itself, but I can withdraw to the bank account that the card is attached to which makes it a moot point as the money ends up in the same place. The fees are tiny so that part of it is not an issue for me.

If possible (from memory you're in Central America or the Caribbean?) an e-wallet like Moneybookers or Neteller is the way to go because you can eliminate the need for the casino to deal with your credit card or bank directly and the fees charged by the e-wallet accounts are usually lower.

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doyellowboots
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23 March 2012 - 4:29pm
#3

Thanks Ed - yes in the Caribbean Smile

Indeed after your advice last year i opened an e-wallet - the system works fine but the charges are still about 30 bucks a time. This is no doubt because of my bank having to use correspondent banks in Europe or the US to transfer the $$ across to me here in the sunshine.

Its no big deal but 30 bucks each time does add up over the months so was hoping some of the better & bigger casinos might one day talk to the cc companies. The system now as you rightly say obviously only allows standard refunds to any merchant, but gambling companies (casinos, bookmakers, lotto companies) are in a unique situation regarding this so one day i hope they take action!

Wine

auCL-Ed
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2 April 2012 - 12:19am
#4

Neteller does offer what they call a Net+ card. Its basically a debit card that you can use at any ATM or credit card point. So you don't really ever have to withdraw the money back to a bank account because you can spend it directly from the Neteller account. It might be worth looking into whether they will issue you one as it could save you the bank transfer fees.

1 member gave thanks for this useful post: barbadosslim93

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usbarbadosslim93
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2 April 2012 - 3:43pm
#5

I have been doing this a bit in reverse through PayPal. Obviously, they won't let me transfer funds from them to a casino, but having their debit card allows me to pull funds from my account instantly when I deposit at a casino.

No fees, and I have been able to pull money back quickly.

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