Why SMS Payments Can be Good and Bad

SMS payments are some of the most simple, secure and straightforward transactions you can make. In fact, they’re so easy that they can be completed in a matter of seconds.

This is why they remain a very popular choice for online gamblers who wish to deposit at casinos and sportsbooks in an efficient manner.

However, like everything in life, SMS payments also have their disadvantages too.

In this post, we look at why SMS payments can be both bad and good, and how to decide if they’re the right payment method for you.

What Are SMS Deposits?

SMS casino deposits, as their name suggests, allow players to make deposits with their phone via SMS message.

Online gamers and consumers can choose to pay with their phone bill, and then they’ll simply need to confirm the payment by responding to a text message.

With SMS payments, the funds are either subtracted from your existing phone credit or the payment is added to your monthly phone bill. This means you needn’t share your banking details with the online vendor or casino.

The Advantages of SMS Payments

There are many benefits to using SMS payments over more traditional banking methods:

1. Convenience

To make a pay by phone payment you just need to enter your phone number and confirm the deposit via text message. As such, you can do it wherever and whenever you want.

2. Security

With pay by phone payments, you don’t need to share any banking or personal details with casinos or online vendors. This means that they are entirely secure and completely resistant to internet fraud.

3. Speed

SMS deposits can be completed in a matter of seconds and once the payment is verified, it will be available in your casino account immediately. This means you can get to spending your cash however you want without any waiting around.

4. Completely Free

Boku transactions should always be free of charge. In contrast, many e-wallet payments incur a fee.

The Disadvantages of SMS Payments

As we mentioned in the introduction, SMS payments do have drawbacks too, especially for online casino players:

1. Low Deposit Limits

The one big problem with pay by phone payments is that you can only make small deposits. A maximum of £30 can be deposited per day, making it an unsuitable choice for high roller casino players.

2. No Withdrawals

Pay by phone payment services don’t allow for withdrawals. Logically, this makes sense as you haven’t shared any banking details with the online casino and so they wouldn’t know where to send your money! However, unfortunately, this means you will need to use an alternative method if you want to cash out.

Are SMS Payments Right For You?

To decide whether or not mobile SMS payments are right for you, you simply need to weigh up the advantages and disadvantages listed above.

If you’re still confused, however, see how often you answer yes to the questions below:

1. Do you make small yet frequent casino deposits?
2. Do you want to make casino deposits when you’re on the go?
3. Do you want a payment method which is quick and uncomplicated?
4. Are you sick of registering for new accounts and having to remember log in details?
5. Do you worry about internet security and sharing personal details?

If you’ve answered yes to more than two of the above, chances are SMS payments could work in for you.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.