Debit Card Casino Deposit

Introduction and General Overview of Bankcards

Perhaps one of the most fundamental things a to understand about Debit Card Casino Deposit is that there are two steps in the Customer Service Loop, the processing and issuing of the cards. The first step is the worldwide platform for a payment processing system. While the second step in the loop is the issuing, funding and customer relations. Visa, MasterCard and American Express make up the majority of the bankcard market worldwide. Visa and MasterCard does not fund, handle customer relations nor issue cards themselves. Instead it only offers the first step in the loop, the worldwide platform for their payment processing system. American Express however offers the entire customer loop them selves. Visa and MasterCard's company philosophy is to work vertical where as Amex is horizontal providing the issuing and processing. Actually Visa and MasterCard has more penetration because they leave it to their affiliate card issuers to create the many different unique services required for a particular niche in issuer's part of the world and/or market sector.

The larger credit cards companies in particular, such as Visa, MasterCard and American Express have a complex structure of different kinds of cards weaving through their offerings. Perhaps the first thing to know is that bank cards need two functions. The first of these functions is a platform (many times worldwide) to process transactions and secondly an issuing agent for funding and customer relations. Visa, and MasterCard only offer the platform (world wide) that operates the payment processing system. They do not issue cards to users or handle moneys. American Express, on the other hand, is a bankcard transaction processor PLUS issues their own cards, finances and handles customer relations. So American Express (Amex) does not need to associate with other issuing companies as does Visa and MasterCard. However, Visa and MasterCard have a better advantage by using other companies that actually issue the cards to complete the service loop. By Visa and MasterCard splitting the service loop, they have created an atmosphere suited for more flexibility and variety. You will see many issuers' names on plastic cards with the Visa or MasterCard logo. These different “flavors” of cards are issued in different countries with different areas of expertise and conveniences.

The Three Types of Bankcards

There are three types of bankcards, a debit, credit and charge card. A credit card (example Visa, MasterCard and America Express) is a type of bankcard implying credit. It entitles the holder to buy goods based on the holder’s promise to pay for these goods. The issuer of the credit card grants a line of credit to the holder from which the holder can borrow money for payment to the merchant or (our major focus) to a casino account. There is always a credit check involved. The applicant must prove that he/she has a steady flow of income that is sufficient to pay the line of credit.

A charge card is similar to a credit card because this too implies credit. The difference is that with a charge card the balance must be paid off entirely at the end of the month.

A debit card withdraws money from a bank account, while a credit card creates a loan. Unlike a credit card there is no line of credit. Therefore there is normally no credit check done upon application. In practice, a debit card is an electronic check, because the funds are withdrawn directly from either the bank account, or from the remaining balance on the card.

Two Classes of Purchases that a Debit Card Performs

There are basically two classes of purchases that a bankcard performs. These would be either an e-commerce online purchase/funding or a physical POS (Point Of Sale) purchase at a "brick and mortar" retail shop. In some cases, the bankcard card is designed only for use on the Internet (e-commerce) and no physical card is issued. Plastic and or virtual credit/debit bankcards have four different classes of code numbers for fraud protection and identification. Here are a few definitions and descriptions of these numbers. It is easy. Don't let a lot of 3 letter acronyms mess you up.

Cost Differences in Local Bank Charges vrs. Online Issuers

Another very practical thing to know about Debit Card Casino Deposits is most local banks issue Visa or MasterCard. As I mentioned before, these local banks then handle the financing together with the customer service themselves. The hometown local banks do not charge for this service. They do not charge for deposits, reloading debit cards nor charge for cashing in at ATM machines. Online issuers and land based card issuers other than your local bank are more expensive and charge for receiving and dispensing funds. Many times the reason a person will not have a local bank card is because he can not open up a checking account for one reason or the other. Perhaps he/she is new in the country. Therefore an online issuer will be a good option for them.