A prepaid ATM card (or prepaid debit card) is a type of card that allows you to draft funds directly from a linked account, much like you would with a normal debit card. However, unlike a traditional debit card, money on a prepaid ATM card is typically loaded on an online processor account rather than a checking account. Prepaid ATM cards usually bear a logo of a major credit card company, such as Visa or MasterCard. For online casino players, prepaid ATM serves as one of the easiest and safest ways to deposit at most online casinos.
Getting a Prepaid ATM Card
There are a wide number of services that offer prepaid ATM card solutions. The most convenient way to obtain one is to do some research online and find a processor you trust. Some of the most popular brands are NetSpend, Wired Plastic, and GreenDot, but each casino's processor may or may not accept certain types of cards. For this reason, we recommend discussing prepaid ATM cards with your casino of choice before you settle on one.
Once you've made your selection, you'll then need to load the card. Most prepaid ATM card providers will allow you to transfer funds from a verified bank account or credit card. You may be able to use online bill pay or send a check as well. You may be charged a fee for the transfer.
Depositing with a Prepaid ATM Card
Once you have a sufficient amount of funds on your prepaid ATM card, you can use it to deposit at any online casino that accepts it. Log into your casino account and choose “credit/debit card” from the available list of deposit methods. Once you've entered the amount you'd like to deposit, enter your card number, as well as the brand of the card, expiration date, and CVV if applicable. The deposit should be available within seconds.
Please note that you may be charged a fee for transferring money to any online casino from your prepaid ATM card provider.
Advantages of Prepaid ATM Cards
The big plus of using a prepaid ATM card over a traditional credit card is the fact that you are in much greater control of the funds. Since you have to take the time to load the card (as well as pay additional fees to do so), it is much less tempting to go over your gambling budget. Since there is a limited amount of funds on the card, it is also much less risky should someone steal your information.
Disadvantages of Prepaid ATM Cards
The biggest disadvantage to using a prepaid ATM card is the transaction cost. As you use your card, you will be subject to various fees. Typically, you will be charged for loading the card and for depositing money into an online casino. ATM withdrawals are almost always charged as well. Some cards do have a premium plan that allows you to forgo these fees in exchange for a monthly payment.
Another disadvantage of prepaid ATM cards is the fact that they cannot usually be used as a withdrawal method. Because of this, you should speak with a support representative at your casino about options for cashing out before you make your first deposit.