American Express has a smaller share of the credit card market primarily because it focuses on other financial products like travelers’ checks. But it is a far older company having been founded in 1850 through a merger of companies owned by Wells, Fargo and Butterfield. It has its headquarters in New York City and is listed on NYSE. The charge card business was started in 1958 and Amex credit cards were first issued in 1987. The credit cards are not directly issued by American Express but by commercial banks that set their own terms and conditions. Even though you will hold an Amex card you will deal with the issuing bank.
American Express tends to favor clients with large spending profiles and therefore Amex credit cards are more likely to be used by high roller US online casino players. As far as security and customer service is concerned Amex is second to none.
Advantages of American Express banking method
When you make a deposit at a US online casino using an Amex credit card the funds will be credited instantly to your online casino account. So you will be able to start wagering immediately without any waiting period. American Express has built in several layers of security in its credit card operations and you can use it for online transactions without any worry. You automatically get some credit when you use your Amex card at an online casino because you will have to pay for the deposit at the end of the billing cycle.
Disadvantages to American Express banking method
If you are an Amex credit card holder and want to use it as a deposit option, you will have a somewhat restricted choice of online casinos because not all of them accept Amex credit cards. Since US online casinos do not allow withdrawals to credit cards, players depositing with Amex will have to withdraw their winnings through other options like wire transfers and check payments. You will also have to check with the issuing bank whether they will consider deposits to online casinos as cash advances. If they do so, your deposits may incur additional costs that will eat into your bankroll.
American Express gives you funds on credit that has to be settled at the end of the billing cycle. Some US players may be tempted to overreach the facility thinking that they will be able to square up the account from their winnings.
How to use American Express banking method at online casinos
When you obtain an American Express credit card make sure that you give a current mobile phone number and e-mail ID because these play a crucial role in online payments. Then, when you register at a US online casino, you select American Express as the deposit option. Before making your first deposit you will have to register your card by filling up an online form that includes your 3-digit CVV number. This number is for your convenience and security and cannot be accessed by anyone in the online casino.
When you want to make a deposit at your US online casino you log in and go to the banking section. There you select the Deposit option and from the list of payment options select American Express credit card. You first enter the amount that you want to deposit. You need to enter only your CVV number and not the full details of the card because the link with the CVV number has already been established. Also without the correct CVV number the transaction will not proceed.
Then the next layer of security called SafeKey comes into play. American Express will send a one time password to you through a text message on the registered mobile number and through e-mail on the registered address. You will have to enter that password. You then click the button to complete the deposit transaction. The deposit will instantly be loaded to your online casino account and you can start wagering immediately.
Keep in mind a couple of tips to ensure that your deposit request is not rejected because of carelessness. The deposit amount must be within the minimum and maximum limits prescribed by the US online casino. You must also ensure that you remain within the available limit on your American Express credit card.