It’s fair to say that the online gambling industry exists only thanks to internet banking which allows transferring money via the internet. This is why there are plenty of options to deposit and withdraw money from online casinos in NZ. If you are looking for the best and safest way to transfer your funds to play for real money, check this post till the end.
Different payment methods offer different services and conditions for users. They differ in transaction fees, minimum and maximum limits, and other criteria. Each player must properly choose a method that suits him and his financial situation. And keep in mind that not all banks in NZ support online gambling.
For example, Kiwibank, one of the most popular banks in New Zealand allows deposits and withdrawals via Visa debit and credit cards but it has a gambling block option that you can enable via internet banking. This option is helpful for problem gamblers who spend too much money on games.
What is internet banking?
Online banking allows players to deposit their casino accounts without visiting banks. Simply put, you access your bank account via a bank website or mobile app where you can make transactions. This method also allows you to enter your card details into the field while making a deposit on a casino site and processing the payment.
Transactions can be made at any time of the day without notifying the bank cashier. You just transfer money whenever it’s convenient for you.
However, you need to make sure you have sufficient funds in your account. Otherwise, the transaction will fail.
How secure is internet banking NZ?
What can be more secure than a banking institution? Of course, all banks are secure and they ensure that each transaction made via their organization is secure too. So at that part, you should have no worries.
When you try to access an online bank account, you will have to enter your username (usually phone number) and password. Some kiwi banks also require you to create a second password to add a layer of security.
One more security measure implemented by banks is a limit on transactions. In other words, you can’t transfer more money than the limited size. Different banks will have different transaction limits that restrict the size of an individual money transfer.
Internet banking methods in NZ
NZ casino players can use different methods. Some of the most popular are bank transfers, bank cards, PayPal, and PoliPay. Let us break them all down below.
- Bank transfers — these are used to make transfers to international banks, which is ok because NZ online casinos are offshore organizations. The problem with bank transfers is that they are very slow, especially when it comes to withdrawals. Wire bank transfer is not recommended at all because of its transaction speed. Nowadays, it’s more popular to use Fast Bank Transfer or transfers via 3rd parties such as e-wallets.
- Bank cards — of course, one of the most popular methods to pay is using Visa or MasterCard. However, withdrawals are still a bit slow. They take about 4-5 days to appear in your account after you’ve sent the request.
- PayPal — it’s the most popular e-wallet among kiwi players. To make it work, you need to deposit money from your bank account into your PayPal account, and then transfer it to your casino account. Its main drawback is fees for transactions. But it’s very convenient and fast, especially for payouts.
- Poli Pay — This is an online banking method that acts like a third party between your bank and casino. It is fast and great for deposits but it isn’t available for withdrawals, unfortunately. And not all casinos in NZ support Poli, so you need to make sure it’s accepted by your bank before making POLI your top deposit method.
What are the benefits of using internet banking at casinos?
Well, online gambling would not exist without internet banking so it’s the main advantage. Thanks to this technology you can easily transfer your funds from one place to another. You can easily top up your casino balance in just a few seconds. And you can use internet banking for payouts too.
Here are some other benefits of using internet banking in NZ:
- Available for kiwi players. Online casino internet banking NZ is widely available across New Zealand and most places in the world. And there are many ways you can transfer your money via the internet. These include bank transfers, e-wallets, and other online banking services acting as 3rd parties.
- Security. The biggest concern of all casino customers is the protection of their funds and personal information. Most casinos in NZ are legit operators that use the latest security protocols to ensure the safety of data. Banking institutions also do everything to make secure transactions so that no one has access to users’ data and money.
- High limits per transaction. If you don’t know what limits banks and casinos have for transactions, you can easily check it on their websites. Online banking methods are usually capped at several thousand NZD, so it won’t be a problem to deposit a big amount or cash out a huge win.
Are there any drawbacks to using internet banking?
Drawbacks exist but their number depends on what internet banking method you use:
- Payout processing time. While deposits are instant, withdrawals may take way longer. This can be very frustrating for customers who want to get their cash winnings as soon as possible. Mind that linking your bank account to some third-party organizations makes it faster to process the payment. Thus, bank card withdrawals take about 5 banking days, while e-wallets will do the same within 24 hours.
- You have to use a 3rd party service. As we said, you might need to use an e-wallet for a faster payout. Or you might have to use it if your bank doesn’t support online gambling. This can be inconvenient because it requires additional steps to complete a transaction and often involves fees.
Internet banking is perfect for online gambling. But the choice of a method can vary depending on your preferences and expectations from gambling. So be attentive when you’re choosing a method for your casino deposits and withdrawals.