Highest and Lowest Payment Fees in NZ Casinos
To assure your safety, NZ online casinos use advanced algorithms and regulations which is why their terms and conditions pages may appear difficult. CasinoAlpha’s professionals are here to clarify everything that is crucial when it comes to the highest and lowest payment fees including what they are and how you pay them.
- Understanding casino fees in New Zealand
- Debit and credit cards in the best online casinos
- E-Wallets as a casino payment option
- Other online casino payment options
- Verdict on the Best online casino payment methods overall
Understanding casino fees in New Zealand
Convenience and easy transfer are the priority of every NZ player, but you must become aware of potential fees. Different payment methods have distinct taxes structures and can impact your gaming budget. Besides the casino percentage of every game, gambling platforms have transactional, conversion, and limitation fees.
Some payment methods might charge a nominal transaction fee for deposits and withdrawals. These fees vary depending on your chosen payment method and the casino’s policy. For depositing money, the top NZ casinos don’t have taxes. However, remember that cards, some e-wallets and services might have their percentages for gambling.
You will encounter currency conversion fees if you use a payment method operating in a different currency. These fees cover the cost of converting funds to the casino’s accepted currency. Fast payout casinos in NZ have a broad range of currencies accepted, so this fee won’t bother you.
Maximum cashout fees
Any gambling platform has a maximum amount of money you can deposit and withdraw monthly. Although the upper limits are high and permissive, if you’re fortunate enough to win the biggest jackpot from free spins pokies, you will pay cashout taxes.
For example, Ruby Fortune has a maximum cashout of $1000000. If you accumulate more than that in your account, the casino will either put a tax or allow you to get your money the next month. This is more of a security measure to ensure that the casino is not hacked by scammers.
Debit and credit cards in the best online casinos
Credit and debit cards remain the most popular casino payment method. These are accepted in all online casinos, including crypto-based ones. Card statements provide a clear record of your casino transactions. Therefore you can always budget and track your gambling expenses.
Using them is already easy for people not used to modern e-wallets or crypto. Simply add the information of your bank account, write the sum to make a deposit and wait the processing time.
However, as popular and widely accepted as they are, cards have disadvantages. Out of all payment options, cards suffer the most due to taxation. Most banks in NZ have gambling fees, starting from 0.2% for every transaction. Withdrawal time can reach seven working days in smaller casinos because their verification process takes more time and resources.
Cards are useful anyway, but you can use them smarter with an e-wallet, but we’ll get there later.
Prepaid cards in New Zealand casinos
Prepaid cards or vouchers can be purchased from authorized vendors or online shops. After that, you upload the amount you want to deposit. These cards come with a unique code entered on the casino’s website during the deposit process. Prepaid cards are a suitable casino deposit method, but most casinos don’t support the technology to withdraw using them.
E-Wallets as a casino payment option
E-wallet casinos have become widely available in the past five years in New Zealand. It is easy to find a casino with payment providers like Skrill or Neteller, and for good reasons.
Skrill works fast, secure and it is among the best casino payment methods in New Zealand. It is widely accepted, has low fees and makes online banking easier. You can have all your assets in one place, including crypto and credit card details.
On their official site, you can see all their taxes and disclaimers. Skrill doesn’t tax you for depositing or receiving money, but they announce the costs anytime you’re about to use the wallet. Casinos also have fees under 2% for Skrill withdrawals, but this depends on each cashier section. So make sure you always check that.
The account is free if you use it at least twice a year.
Netteler casinos across New Zealand witness a massive growth in popularity in 2021. This transactional service is one of the most popular because it offers instant deposits and withdrawals. It is a quick and simple method that offers security and reliability to casino players.
Although any Neteller casino has the same processing protocols as Skrill, your online casino account might be verified slower. The differences are not notable, but our specialists found this pattern in more online casino sites.
Neteller taxes are variable, but don’t charge you for casino deposits or withdrawals on gambling sites if the currency remains the same.
Verdict: Skrill vs Neteller for casino banking methods
After hours of research and dozens of casinos tasted, CasinoAlpha’s specialists consider that Skrill has lower fees and instant transactions. Thus, Neteller has better loyalty programs with more benefits and enhanced security. They are both suitable as online casino deposit methods. These two e-wallets have similar casino withdrawal times.
Other online casino payment options
Paypal is also an e-wallet, but people understand it better as a simple transactional service. PayPal is considered the most straightforward payment method available in online gambling. You have to create an account, link your bank details, cards and information, and you can use it almost everywhere.
PayPal has higher withdrawal limits and generally smaller taxes. It is secure and fast, and people can use it for both operations.
Paysafecard is another pioneer in online gambling sites. It is a great casino deposit option with zero fees. The developers never expected to blow this much, so they had to create a withdrawing alternative suitable for casinos.
Casinos don’t allow you to withdraw with Paysafecard directly. Thus, the operator offers a withdrawal method called My Paysafecard, which is accepted by most casinos collaborating with this service.
Digital coins were introduced in New Zealand’s best gambling sites long ago, but players got convinced slower. Cryptocurrencies are the most secure payment methods online. They are also the fastest regarding withdrawals. The most popular are still Bitcoin and Ethereum, but punting platforms started to accept more than ten digital currencies.
Moreover, some of the best casino bonuses are crypto-related. Cryptocurrency taxes are calculated equally for all coins and are usually lower than bank transfer fees.
Verdict on the Best online casino payment methods overall
|Payment method||Type||Deposit||Withdrawal||Better to use on||Casino|
|Neteller||e-Wallet||Yes||Yes||Mobile casinos||Jackpot City|
|Bitcoin, Ethereum||Cryptocurrencies||Yes||Yes||Casino Apps||Freespino|
|Paysafecard||Payment service||Yes||No||Desktop and mobile casinos||Blue Vegas|
|Skrill||e-Wallet||Yes||Yes||Casino apps and mobile casinos||PlayOJO|