Visa Electron is commonly being passed off as a debit card. However, it can also be issued as a credit card, depending on the specifications of the customer.
The connection to the Visa PLUS interbank network allows the customer to be able to raise the desired amount of money from the ATMs outside the territory of his country, which means that it can also be used in previously mentioned excluded four countries if one is using it to transfer money from the territory of the other country.
Mostly because of the fact that the card can’t be overdrawn, it quickly acquired a lot of popularity among the younger population. However, there are some countries that haven’t accepted the card with generosity. For example, Visa Electron in the UK is not as popular as a Visa Debit card, and the vast majority of banks in the United Kingdom are offering their modifications of Visa Debit.
Literally, any person that possesses an appropriate bank account can apply for the ownership of the card because the money gets debited straight from the account itself. The application process is very simple, and it includes the following steps:
Filling in the application for the credit card, in your bank or online, which can be more convenient;
If the process is being done online, the customer needs to provide accompanying documentation as well.
The card is normally be issued within 7 working days of the application process. Usually, there are no charges or fees for issuing the Visa Electron card. However, some banks may charge a certain fee for the production of the card itself.
When using a credit card, payments can be achieved in several different ways:
A customer can sign a receipt received by the merchant;
A customer can realize the money transfer by entering the card’s PIN code;
If a card is the EMV type, which means that it has an implemented chip that has an ability of cryptographic processing in the course of the transfer process, the customer can only insert it in or swipe it over the device provided by the merchant, without having to sign the receipt.
A customer can place an order online, by using the e-mail or phone.
Signing the receipt is also commonly not required for purchases below $25. However, signing the receipt helps to prevent and resolve any potential deceit and misuse. There are also many reward programs through which the customer collects additional points for each signed purchase. The company also provides additional safety measures for purchases achieved online, via e-mail or via phone.
At the majority of locations, a customer can get a cash-back by pressing DEBIT on the device. In order to finalize the cash-back transfer, one needs to provide the PIN code and to enter the desired amount of money one wishes to withdraw.
There might be certain fees when withdrawing the money from the ATM that doesn’t belong to the bank in which a customer possesses an account. Fees can be charged both by the bank and the ATM holder.
Visa Electron comes with a daily payment limit set to occupy the value of €3000. The maximum number of allowed transactions that can be achieved in a single day is set to 30.
When the customer signs the purchase, the security measures are being activated, through which any fraud or misuse can be prevented, monitored or resolved. These measures include the following:
Visa’s Zero Liability Policy – protects customers from unauthorized transfers. It also states that any amount of money that has been illegally taken from the account will be recovered.
Each card comes with a 3-digit security code that is located on the back of the card. It can be used for the authorization and verification of online purchases or purchases realized through the phone.
Visa is constantly monitoring the activity of the card, in order to prevent any misuse.
Visa Electron and Online Gambling
Visa Electron represents one of the most used payment methods among online players worldwide, mostly because of the fact that it cannot be overdrawn, which can easily happen during the online gambling process.
When realizing a deposit, the customer needs to check the amount available on the account linked to the card. The next step would be to select Visa Electron as a deposit method at the casino’s cashier page. The final step is providing additional details, such as name, the number of the card, the expiry date of the card, etc.
The withdrawal process is also very simple. It requires visiting the cashier page and entering the desired amount of money. The usual withdrawal waiting period is 5 working days.
One of the advantages of using Visa Electron at online casinos lies in the fact that many casino platforms store personal details provided with the first realized deposit, so the customer doesn’t have to enter them again. This represents a real convenience for the players and also protects their private information. Another advantage lies in the fact that the card is directly linked to a player’s account and, therefore, the player can monitor the account balance at any moment.
The main disadvantage of this payment system lies in the fact that some of the casinos don’t recognize it as a withdrawal method.
Visa Electron Casinos
The list below contains ten most popular casinos that accept Visa Electron:
William Hill Casino;
Paddy Power Casino;
Casino Las Vegas;
LV Bet Casino;