Understanding the Pros and Cons of Online Payment Methods

Credit and Debit Cards

Almost everyone has some form of bankcard, either a debit card or a credit card. They are used across the world to make payments in all kinds of situations, both online and offline. You can use them for deposits and withdrawals at mr.play, just as you would use them to make payments at any other website, such as when you do some shopping. As such, they are an extremely popular way of making payments. Furthermore, deposits are processed instantly so you will not have to wait for your funds to arrive in order to start playing while withdrawals take no more than a few business days.

Beyond convenience, a huge advantage of using a credit or debit card at mr.play is the level of security. Most banks have implemented some form of two-factor authentication for online transactions, so when you make a deposit you will be sent a code via text or through an app than you need to enter to verify the transaction. This means that even if your card details are stolen, it will be very difficult for the thief to use it online. Furthermore, most banks will immediately refund fraudulent transactions.

There are some disadvantages to be aware of. For instance, in the UK, you are not allowed to deposit at online casinos using a credit card (but debit cards are fine). Furthermore, not everyone will be issued a bankcard and they may have their own reasons for not wanting to apply for one.

Pros

• Almost everyone has a bankcard
• Deposits are instant
• Excellent security measures
• No fees charged by mr.play

Cons

• Credit cards cannot be used for gambling in all jurisdictions
• Requires you entering your card details online
• Not everyone is able to apply for a bankcard.

Prepaid Cards

Many places are now able to issue prepaid Visa and MasterCard cards. These are essentially top up cards. You deposit funds on to them and you can then use the prepaid card as a regular bankcard until you run out of funds, at which point you can then top it up again.

There are a number of advantages to this. First of all, you can probably apply for a prepaid card without the need of a traditional bank account. Secondly, once you have one, you can use it exactly the same way as you would a regular bankcard, both online and offline. This means that all the advantages explained above for regular bankcards apply, i.e. the transactions are instant, there are no fees charged by mr.play, and there is a very high level of security. They actually offer an additional level of security as even if the card is stolen, there is no way that the thief can spend more than you have placed on the card. Furthermore, as the prepaid cards are generally Visa or MasterCard, you will find that you can use them everywhere.

There are a few disadvantages that you should be aware of. Many issuers of prepaid cards will charge fees for topping it up (although there is no fee for using it to deposit at mr.play). Furthermore, you will have to remember to keep the card topped up and in order to top it up, you will have to find a payment method that you are comfortable with at the card issuer.

Pros

• No need to have a traditional bank account
• Everyone is eligible for a prepaid card
• Instant deposits and fast withdrawals
• High levels of privacy and security
• No fees charged by mr.play

Cons

• Issuers charge fees for topping up the card
• A secondary payment method is needed in order to top up cards
• Slightly more hassle than using a regular bankcard

Vouchers

Vouchers are very similar to prepaid cards, except that they can’t be topped up. You purchase a specific value voucher, e.g. €50, and that is all the money that will ever be on it. Vouchers are a favourite choice of those who are worried about privacy. Many of them, such as Paysafecard, can easily be bought in shops across the world using cash. This means that at no point do you have to expose your banking details or any personal information. After purchasing the voucher, you simply need to enter its PIN code in the mr.play cashier and the funds will be transferred to your account immediately. Furthermore, you do not need to use the entire amount on the voucher at once if you do not want to.

Essentially, vouchers are one of the most secure ways that you can fund your mr.play account. As long as no one discovers the PIN on the voucher then there is no way that your money can be stolen, and as you do not have to supply any banking information, there is zero opportunity for that information to be exposed.

However, there are some drawbacks to using vouchers. The main one is that you cannot withdraw to them. They are a one-way system and once you have spent the funds on the voucher you cannot add to it. Furthermore, you will have to go to the effort of buying the voucher, which does take time. Another consideration is the size of the vouchers. Most voucher systems do not have values larger than €100, which means you may have to purchase multiple vouchers and make multiple deposits if you want to place a large amount in your account.

Pros

• Extremely high level of security and privacy
• Can be bought in numerous shops globally
• No fees for deposits
• Instant deposits

Cons

• Cannot be used for withdrawals
• Requires an effort to go out and purchase
• If you lose the voucher then the money is lost
• Most vouchers have very low balance limits

E-Wallets

There are many e-wallets available at mr.play, such as Skrill and Neteller. They are very popular with players for a number of reasons. To start with, e-wallets are very user-friendly. Regardless of which you choose, you will be able to create an account in a matter of minutes and the entire process, including making a deposit or withdrawal at mr.play, is very straightforward. Furthermore, e-wallets offer a very high level of security and you do not need to worry about providing the casino with any banking information.

However, there are some disadvantages that you should be aware of. To begin with, most e-wallets do charge fees at some point. There may be fees for topping them up or there may be fees for carrying out transactions. These fees are usually very small, but they should be taken into consideration. Secondly, in order to top up your e-wallet, you will have to use some kind of online payment method, such as a debit card, which carries almost exactly the same advantages and disadvantages of using your card directly at mr.play. 

Pros

• Very easy to use
• Fast deposits and withdrawals
• No need to provide mr.play with banking details
• High level of security

Cons

• There are fees either for topping up or transactions
• Not all e-wallets are available in all jurisdictions

Instant Bank Transfers

Instant bank transfer services, such as Giropay, essentially act as a bridge between your bank account and mr.play to facilitate fast and secure deposits. Beyond the speed and ease, the main advantage is that you do not need to supply mr.play with any of your banking details. You simply need to enter how much money you wish to transfer and the service will take care of the rest. As such, it is another excellent option for those concerned about security and privacy.

The main drawback to these services is that the vast majority of them do not support withdrawals. Therefore, you will most likely have to use a different payment method in order to enjoy your winnings. The other drawback is that very often, these services are country specific, and you may not find one available. They seem to be most prevalent in Nordic countries, the Netherlands, and central Europe.

Pros

• Very user-friendly
• Instant deposits
• No need to provide any banking details
• No fees charged by mr.play

Cons

• Not available with all banks and in all countries
• Cannot be used for withdrawals

Choosing the Correct Payment Method for You

As should now be clear, there are numerous advantages and disadvantages to all of these different methods. When you choose which to use, you can immediately narrow down the choice by seeing which are available in your region. For instance, PayPal is available in the UK, but not many other countries, while some e-wallets can no longer be used in Norway.

You then need to find a balance between privacy, security and convenience that you are comfortable with. All of the methods we offer are secure, but in slightly different ways; for instance, you may feel better with some form of two-factor authentication. In regards to privacy, some people are happy using their bankcards online while others are not. Ultimately, it is a personal decision, but now you should have all the information you need to make the right one for you.