American Express, popularly called AmEx, is a major financial services company with a presence in all layers of commerce, trade and services. Founded in 1850 in New York, the company has seen several changes in its 150 years of tradition.
From an express delivery business, it has changed into one of the most powerful and widespread payment methods in the world with availability across more than 130 countries. AmEx offers a wide range of services, making it one of the major competitors for companies like Maestro, Visa, Diners, MasterCard, etc.
How AmEx works
AmEx cards are widely accepted by websites that offer their services for money, such as shops and gaming sites, but there are a few downsides also. Let us take a look at AmEx’s performance (deposit and play) in relation to online casinos.
AmEx works similarly to any other credit card. Whenever a customer has to make a deposit, he or she is required to insert the name, card number, amount to be deposited, security code and expiration date from the back of the card. However, the withdrawal process is relatively more complicated as the person is required to file an authorization form and a number of bits of data requested by a specific casino. However, once all the necessary paperwork is delivered, everything becomes easy, notes Latest Casino Bonuses.
It is important to mention here that casinos often give AmEx as a deposit-only option; hence, players are advised to check before they begin a game. This is important because if they win, later they will have to look for an alternative withdrawal option.
An important question that needs to be answered is where American Express works. The number of venues where AmEx cards can be used has dropped significantly in the past few years due to anti-online gambling actions by U.S. authorities. They have led many casino and poker rooms to close their doors to Americans and their payment processors, including American Express, notes Latest Casino Bonuses.
However, some companies’ survival and operations are unaffected by the restrictive U.S. banking regulations for gambling transactions. These places provide excellent quality of service to players and enable them to enjoy all the fun, irrespective of where they come from.
Making a deposit at AmEx
There is a procedure that a user is required to follow to fund his/her on-site account if they come across a casino that supports AmEx withdrawals. First of all, a customer is required to log in to their account and click on the cashier option. The next step is to choose American Express, and then provide the credit card details, including the card number, expiration date and security code (the three digits on the back of the card). Then they enter the amount to be deposited and use the bonus code if they have one and confirm the transaction.
The entire process is completed in less than 10 minutes. The bank does not impose any charges on customers for depositing money into their online casino accounts.
Pros of using an AmEx card
AmEx is not considered a very popular method for depositing cash into an online gambling site, but using this brand of card for this purpose has some advantages to offer, notes Gamble Online. It offers an unlimited credit line to users who can deposit as much cash as they want into their accounts without any worries. For casino players who love gambling with large amounts of money, this comes in handy.
All the withdrawals and deposits that are made into online casino accounts using the AmEx credit card are fairly fast, just like any other credit card transaction, and do not require any significant efforts. Users do not need consultations with any third party about their deposits or anything related to their transaction. The user can start betting at their own convenience once their information is processed.
If a customer loses their credit card, they can use the fraud and consumer protection provided by the company, whereby they will not have to pay more than $50 for any losses incurred. This can also be used if case a customer purchased damaged goods. For these reasons, AmEx is widely considered to be very reliable.
Cons associated with AmEx cards
There are some downsides too. The credit card has fewer limitations imposed, and for this reason, online casino players are unable to evade questions posed by bankers.
Another problem is that AmEx withdrawals are not supported at many online casinos, notes Gamble Online. Therefore, if a customer uses the card to finance his/her account, they will be required to look for some other banking method for the purpose of cashing out, notes Gamble Online.
How safe is using AmEx?
The safety of financial information could be a major concern for many gamblers. Theoretically, it is not difficult for hackers to steal credit card information. Fortunately, this is not the case with the AmEx card, and therefore, its customers need not worry about any unauthorized third party accessing their information as the security firewall on the website is virtually impenetrable.
Once the gambling operator processes a deposit, they will never be required to submit the information again. Once the customer deposits the money using the AmEx card, their account will immediately reflect the balance, allowing them to start betting any time they want.
AmEx – should you trust it?
Visa and MasterCard have higher preference even though American Express has been in this business for years. However, players can still trust AmEx for several reasons, believes Gamble Online. First, it has been in the business for almost 163 years, and this makes it more trustworthy than its rivals.
Second, its fraud and consumer protection clause gives peace of mind to customers. Last, it is a perfect option for players with high stakes games as they can bet as much as possible without worrying about upper limits.
So if you are just starting, have little knowledge about online gambling, and are unsure about which company to trust, you might consider American Express. According to playslots4realmoney.com, Aladdin’s Gold Casino, one of the best online casinos for slots accepting AmEx credit cards, has given positive feedback on AmEx.