Entropay (www.entropay.com) is a prepaid virtual Visa card that can be used to make purchases online just like a normal Visa. The only difference between Entropay and any other card is that this virtual card exists only in the digital form. You get a working credit card number, but you never receive a physical card in the mail. This makes Entropay a fast and easy way to make a deposit to your favorite betting site.
Entropay also differs from traditional credit cards in that it can only be used to make purchases with money you have already loaded in your account. It is impossible to go into debt or otherwise spend money you don’t have when you make a deposit with your Entropay Visa.
Making a Deposit with Entropay
Getting started with Entropay is a quick affair. The first thing you’ll need to do is visit the website to sign up for an account. The next step is to link your personal debit or credit card to your Entropay account. Doing so will allow you to fund your Entropay account whenever you want to make a payment or deposit.
Once you have an account, Entropay will give you your virtual card complete with 16-digit number, security code, expiration date and an anonymous “name.” Now, go visit any merchant or betting site that accepts Visa and type in this information whenever you want to make a deposit.
Here’s how the deposit process will work once you’re all signed up:
- Log in to your Entropay account
- Upload funds using your personal credit or debit card
- Log in to your betting site and choose either “Entropay” or “Visa” as your deposit method
- Type in your Entropay number, security code and expiration date
- Confirm the deposit amount and your betting account will be funded instantly
Who should use Entropay
Entropay is designed for the security-minded gamblers out there. Not comfortable sharing your credit card number with random online betting sites? No problem – that’s what Entropay is for. Depositing via Entropay keeps your real credit card info private.
Furthermore, Entropay adds a layer of security because its only funding source is the money that you have loaded into your Entropay account. If someone steals your information, they don’t have free access to your bank account. The most they can get away with is the funds sitting in your Entropay account. Yes, that would be a disaster, but it’s a whole lot better than someone getting ahold of your real credit card.
Entropay betting sites come in handy if you’ve had problems with rejected credit card deposits to gambling sites. It’s not uncommon for people to experience declined deposits thanks to poorly written banking laws. Entropay gives you an alternative for when your regular card just doesn’t work.
You may request payouts to your Entropay account in certain cases. If your betting site explicitly accepts “Entropay” as a deposit method, you can have them send any winnings back to your Entropay account. If your betting site only accepts generic Visa deposits, it probably isn’t an option.
Be aware that Entropay does charge a 1.95% fee if you receive money from a betting site back to your Entropay card. This fee is inconsequential for smaller deposits, but it does add up if you frequently cash out large sums. A better alternative would be to have your gambling site pay you via direct bank transfer or paper check. Both of those options are usually free.
Note that you’ll also be charged a flat fee of $6 or € 4.50 to send money from your Entropay account back to your personal debit or credit card.
Pros and Cons
Entropay has its good and bad points. On the positive side, Entropay offers a major upgrade in security over using your personal card to play online. It’s also nice to have this deposit method if you’re having problems with declined deposits when using your personal card. Finally, Entropay helps you avoid spending more than you intend if you’re the type to get caught up in the heat of the moment. You can only spend what you have with Entropay.
On the negative side, Entropay is kind of redundant. You’re taking money from one debit card, loading it to a virtual card and then making a deposit. This is pointless if you’re already comfortable using your actual credit card. The fees also pack a punch. It costs 4.95% to upload funds, an additional 1.95% to receive withdrawals and a flat fee to withdraw back to your personal credit card. It gets old getting hit with fees on both sides of every transaction.