credit card often a bit more complicated than the process for opening accounts credit card

credit or debit card account is often a bit more complicated than the process for opening accounts with other popular payment methods. That’s because these products are designed to do a lot more than just send and receive money from a website – people use these cards to make their everyday purchases, and in the case of debit cards, the account the card is linked to is often their method of payment from their workplace.

Opening a traditional credit card account happens a number of ways. Some users get credit card applications in the mail, send off for them, and in a few days they have a line of credit attached to a simple piece of plastic they carry around with them. The application process involves a lot of personal information, including bank details, and the issuance of a card depends on creditworthiness and personal financial history

Credit Cards & North American Customers

Unfortunately for American and Canadian citizens, the North American market is has slowed down immensely in terms of credit card and debit card deposits and withdrawals – especially concerning the funding of online gambling accounts.

In 2006, the US government passed the Unlawful Internet Gambling Enforcement Act, or UIGEA, which made it illegal for financial companies based in America to process certain types of transactions with “known illegal online gambling” venues.

The end-result? Attempting to make a deposit as an American using a VISA or MasterCard or any other credit or debit product will lead to the transaction being declined, usually without fail. Rather than make it illegal for people to wager on sports, the government instead focused on preventing the banks from processing the transactions.

This focus on credit card transactions bled over to Canada from the United States, and has (in the past) made credit card companies afraid to move into new markets or expand business in existing ones. For the time being, North American citizens will have a difficult (if not impossible) time of depositing money using a traditional credit card.

Specific numbers related to the approval rate for credit card deposits are not available; this is because of the high volume of such deposits being attempted and the ubiquity of the method, in use in hundreds of countries around the world.

Generally speaking, bookmakers that accept these deposits have a high success rate using them. This is due to the companies backing these methods, and their solid reputation and long history of doing financial business around the world. As we already mentioned earlier in this article, Green Dot Money Pak’s are the most highly-approved method.