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Amex vs VIP Preferred vs Venmo - Which Method Should US Players Use?
Banks not allowing gambling transactions led to the creation of new and capable ways of depositing money at casinos. And this has also led to the success of many top US online casinos.
So, it is key to ask then, what is the best payment method that a US player uses to deposit online? Is there really one that operates in a more successful and capable way than the others? Or is it simply down to personal preference in the end? Join us as we take a closer look at three popular payment methods that support US-based players.
The Benefits of Depositing with Amex
One thing about American Express (or Amex) is that it is a well-known brand across the USA. The company has been around since 1850, and therefore can probably be considered trustworthy by most Americans. It also provides you with easy and swift transactions to your chosen online casino, especially where deposits are concerned. Withdrawals may have processing timeframes akin to standard Visa and Mastercard transactions, though.
The great part about using Amex cards for online casino transactions is that there is usually no associated transfer fee. This means that you can deposit funds into your casino account without having to worry about extra charges being added on top of the money you want to play the games with. Generally speaking, this also applies to the withdrawal process as well. So, Amex is helpful in allowing you to transact easily, swiftly and without extra fees.
It's also quite nice to know that Amex has some stellar security features in place so as to protect your financial information. And at the end of the day, don’t we all want to ensure that our money is being kept out of unscrupulous hands?
The prime issue where this payment method is concerned is that you need to meet certain criteria to even get your hands on an Amex card in the first place. Furthermore, some Amex cards have a high annual fee attached to them for you even being in possession of one. So, these are things to strongly considered before opting for such.
The Benefits of Depositing with VIP Preferred
VIP Preferred does have a prime focus on the US market, meaning that it is not available to use elsewhere. And this helps it to provide a perfect alternative for such players. You’ll need to register for an account with VIP Preferred before you can use it to deposit through. Signing up for an account requires your driver’s licence number, bank account routing number and bank account number. As with Amex, VIP Preferred does not have any fees associated with it to pay, making it even more appealing.
Depositing money through this payment method gives you the chance to benefit from high transactions limits, too. So, you won’t be restricted in this sense. VIP Preferred has its own safety measures in place as well, which keep everything secure and out of the hands of third parties. Therefore, transactions through VIP Preferred can be considered easy, painless and safe.
Probably the prime issue where this payment method is concerned is that not many online casinos support it. While there are a few recommended platforms that do support such transactions, when compared with other payment methods, it’s not such a great choice to select. In effect, unless you know that the best casino app Android you’re joining supports VIP Preferred and you are definitely wanting to use it, then don’t sign up for an account.
The Benefits of Depositing With Venmo
Venmo came around in 2009 as an alternative payment method in the United States, and it was acquired by the casino PayPal brand a few years later. Operating as a personal e-wallet, Venmo provides a much more intriguing and personalised experience than its older PayPal sibling. You’ll need to download the Venmo app to your mobile device and then open an account before verifying your identity to use it. Then, you just need to link a credit or debit card to your Venmo account.
One of the best parts about Venmo is that there are no transaction fees associated with it. It does not impose any monthly fees either. However, it does charge a 3% fee on credit cards, just to be aware of. If you use the mobile application for transactions though, then all transactions come without charges.
And this is indeed another perk about using Venmo – that it has been perfectly optimised for the mobile gaming community. This way, you can deposit and withdraw from any location with a few swift taps. The transactions are always secure as well, meaning that you can guarantee your personal details are kept safe while using it.
There is a slight downside to using Venmo as well, though. Transaction limits are imposed on you when utilising this payment method. Both daily and monthly limits exist in relation to it, so any casinos choosing to support it will need to limit their players who want to use Venmo for their transactions.
Amex vs VIP Preferred vs Venmo
So, Which One is Better?
When it comes to the speed of deposits, the payment methods are pretty much equal. Withdrawals will likely process through quicker with Venmo once the processing timeframe is up, however, it is key to remember that it has restrictions where its limits are concerned.
This is not the case with VIP Preferred, which gives you a bit more freedom to move around. Of course, some people like to go with a brand that they recognise, which is where Amex would fit into things.
On the whole, it is important to remember to go with what you feel comfortable with. It’s not ideal to select a payment method if you don’t know how to use it, what you’re expected to do with it and if you expect unachievable things from it. Do your research beforehand, into both the casino and the payment methods, and then take it from there.
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