PaySpark is an electronic wallet service, which allows the user to adds funds through a few different methods to their account, and then use PaySpark to make payments online, without having to use a credit card directly. PaySpark is based in Cyprus, and it’s subject to that country’s local legislation. The system doesn’t seem to have any big advantages over other similar payment methods, but it does allow for Western Union to be used as a funding method for their accounts, which is something that not everyone will give you. Other funding methods available to their users include credit cards and ATM accounts. One downside is their policy of closing down any account that is without funds for more than 3 months. It’s a good idea to keep a few dollars in the account if you don’t use it too often, to make sure you don’t have to create a new one next time.
PaySpark Online Casinos
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How it works
In order to use PaySpark, you first have to sign-up with them. After you create your account, you have the option to add funds to it, through one of the few methods available. The one funding method that stands out and seems rare at other companies is the transfer via Western Union. If you’re going through the trouble of visiting a WU office though, you might as well make the transfer directly to the casino if they accept this method.
Deposits and Withdrawals
PaySpark gives the option to both make deposits and withdrawals via their website. When you select this payment option at the casino, you are redirected to the payment site and there you have to confirm that you want the transaction to go through for the selected amount.
As long as you’re planning to use your PaySpark account regularly, you don’t have much to worry about, but once you allow that account to become dormant (more than 90 days without using it), you’re starting to pay for it. The administration fee for these dormant accounts is $10 per month, so you better be sure that you want to use their services in the long run before signing-up.
There is also the fact that they will give you money back as interest if you have at least $500 with them. The interest rate for accounts with that minimum amount of money is 2% per year.
PaySpark claims that they are using the latest encryption technology to protect the user’s financial data, and that they are doing everything in their power to keep accounts and transactions secure.
It’s not a service I’d recommend if you don’t plan to use them on a regular basis. If you do use them, don’t forget to cancel your account before 90 days of inactivity pass.