What is Instant Banking?
Instant Banking is a payment processing service that facilitates smooth transactions between an individual’s bank and online casinos. Although it is primarily aimed at Scandinavian and German gamblers playing real money games at foreign casinos, the services are likely to be extended to other Nordic countries and Germany soon.
With Instant Banking, deposits and withdrawals are swift, easy, and secure. Because you do not need to download any app or fill in long registration forms, the process is fairly simple. Identity verification is done via electronic identification such as BankID (and hopefully NemID soon), which aids in instantaneous paying and playing at casinos online.
Winnings can be paid out directly via Instant Banking when you request a withdrawal. The processing time is less than two minutes, which makes this processor one of the fastest. Because verification is done via BankID or its equivalent, safety is seldom an issue. Instant Banking further showcases high flexibility and uses the latest encryption technology to ensure security.
How Does Instant Banking Work?
You can use Instant Banking in five easy steps:
- Select Instant Banking as your preferred payment method
- Link your bank to it
- Log in to your bank account with BankID
- Select deposit amount
- Approve the payment with BankID
Why Use Instant Banking at Casinos Without a License?
Instant Banking is a safe casino banking method to make deposits and withdrawals, especially when you are gambling at an online casino without a license. Some payment methods such as credit and debit cards are cumbersome and can be blocked by the Nordic authorities. E-wallets are an easier option, but not as powerful as Instant Banking.
Although it is not illegal to play at unlicensed online casinos, Nordic governments are known to dissuade the residents from turning to these sites. Often ISPs are ordered to block such websites and payment processors are asked not to process any casino transactions.
For instance, the Scandinavian and German Gaming Authority recently cooperated with national banks and successfully blocked payments via VISA and MasterCard to and from casinos without a license. If you are a German or Scandinavian player trying to pay using VISA or MasterCard, you must know that the transactions are traceable. Because your personal and financial data is being included here, it is easy for the regulators and government authorities to block such payments.
This is not the problem with Instant Banking where you cannot trace an individual’s banking details or personal information. Every transaction is protected with advanced encryption. Payers need not contact the bank to deposit or withdraw money. This is why getting blocked is next to impossible.
Benefits of Instant Banking
- Quick deposits and withdrawals
- Secure payment method
- No third-party access to your bank details
- Easy to use
- Pay directly via mobile
- No registration or download required
- No risks of transactions getting blocked
Among payment processors for casinos without a Nordic license, Instant Banking is a new kid on the block. The method means that transfers take place digitally, without any slowing intermediaries being involved. A transfer with Instant Banking reaches the recipient in a few seconds.
Besides, it is a secure payment method, as they use encryption and you do not have to disclose any private information. This is a great advantage when playing at foreign casinos, as you do not have to worry about your payments being blocked.