Pay in an online casino quick and easy with iDeal. Visitors of a land-based or online casino can usually choose between several payment methods. iDeal is used a lot to make a deposit. It’s a relatively new Dutch payment method. iDeal was introduced in 2005 by Currence. This organization has been created by eight Dutch banks. Currence offers more financial services than iDeal alone. What are these?
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Currence and cooperation with banks
Currence was established by several banks in 2005 to create more transparency when it comes to Dutch payment systems. iDeal works directly with (online) banks. A depositor can only make a payment and use online banking when he or she has a bank account at ABN AMRO, SNS Bank, RegioBank, ING Bank, Rabobank, Knab, Van Lanschot Bankers or Triodos Bank.
Independent institute with financial products
Currence can be seen as an independent institute in which several parties are involved. It creates and controls rules and protocols so that its products have the best quality. Ensuring safe (online) payments is also an important goal of this organization. This is why the general public is regularly informed about the services of Currence, such as new financial products and services. The organization is focused on new opportunities and thus looks into new markets very often.
Quick and easy payment with iDeal
Since the introduction of iDeal, paying online has become easier and more efficient. Paying with iDeal is quite simple. When you visit a webshop first choose the products you like to have. Put them in a digital shopping basket and start the payment process when you’re done shopping. Click on the logo of iDeal as a payment option, so that an iDeal pop up will appear on the screen. Then select your own bank. If everything goes well, you’ll be redirected to the login page of your bank. Login into your account to start the iDeal payment procedure. Make sure that you’ll check the details several time and confirm the payment. If the process is finished, you’ ll be redirected to the webshop again. Done!
Paying with iDeal in online casinos
Webshops are not the only places where you can pay with iDeal. It’s just as easy to use it in online casinos. The procedures are exactly the same as in a webshop. After you click on iDeal to make a deposit you’ll be directed to your own bank. Then you have to follow a few steps, like filling in your bank account number, before clicking on the ‘confirm’ button. The payment will be added to the account of the recipient immediately. As is the case with webshops, you don’t have to pay a fee.
Does iDeal have disadvantages as well?
There’s a disadvantage about online casinos we have to mention as well. Unfortunately it’s currently not possible to make a withdrawal in an online casino with iDeal yet. So it’s only possible to make a deposit. You have to choose another withdrawal option to get your money. This is one of the very few disadvantages of paying with iDeal in an online casino though. There are way more advantages, including the fact that a payment with iDeal is always safe and secure. The safety standards for a regular bank transfer are also used for iDeal. Besides that, you don’t have to wait for your deposit to end up on your casino account. The payment procedure finishes in a few minutes, but once a payment is done you cannot revoke it. Besides that, you can make a deposit with iDeal in an online casino whenever and wherever you are. Your destination doesn’t matter, since you can also use a smartphone to make a payment with iDeal. Another advantages of paying with iDeal in an online casino:
- You don’t have to make an account to use the iDeal service. Everyone with a bank account can use it. You do need to have a bank account that uses Euro as a currency though.
- A deposit with iDeal only takes a few minutes to be finished.
- If you make a deposit, you’re completely anonymous. No personal information will be leaked to the recipient.
- You don’t have to pay a service fee when you pay with iDeal.
- You can make a deposit
The rising popularity of iDeal
Since 2005, the popularity of iDeal has increased a lot. It actually has become a household name in the Netherlands, since most Dutch people have used it at least once. Not a big surprise, considering the advantages of iDeal (as can be read above). In 2013 a total amount of 142.5 million transactions in the Netherlands were made with iDeal. In comparison: in 2006 this number was only 4.4 million! Other numbers are impressive as well. On average about 13 million euros in transactions every month take place between depositors and recipients. An important reason for the transaction growth is the fact that a lot of webshops have opened their doors in the last decade. These places usually offer iDeal as a payment method.
Currence goes international
At first Currence mainly focused on the Dutch financial market. However, the company is very ambitious and now also focuses on the European Union. So more countries besides the Netherlands will be able to use the financial services of Currence. The company has become an international competitor since 2014. Good news for non-Dutch customers, since they can now use iDeal as well. Thanks to the Single Euro Payments Area (SEPA) the euro is the main currency of most European banks.
Online casinos and iDeal
A couple of years ago only a few online casino used iDeal as a payment method. Not a big surprise, since the payment method was only available in the Netherlands. Since the moment iDeal became available in other European countries, the number of online casinos using it has risen. The service is no exclusively for Dutch people anymore. The only condition is that an European casino has to participate in the SEPA. The following casinos from software developer NetEnt currently use iDeal as a payment method:
- Bob Casino
Not just a payment method
Perhaps iDeal will become very popular in Europe in the near future. On the website of iDeal you can read that the service is seen as a so-called ‘protocol’. So it’s not an electronical payment system. Instead, iDeal is more a collection technical agreements between banks and companies that provide transactions. You can actually compare it with several other European online payment providers. Well-known names are Bancontact Mr. Cash from Belgium, GiroPay from Germany and Euteller from Finland.
Everyone can use iDeal
As you now know, iDeal is more a protocol to provide only payment than an online payment service. The result is that anyone can use iDeal, as long as he or she has an online banking account. So you don’t have to subscribe yourself to use this service. It’s just one of the advantages of iDeal. Another one is the quick transaction of your deposit, because the recipient receives the money almost instantly. He or she will let you know when this has happened by sending an e-mail. The depositor and the recipient will also receive a confirmation of the bank.
A modern payment method with multiple possibilities
It has become clear that iDeal is a modern payment method that can be used in webshops and and online casinos. You can easily pay for products and services with it on your laptop, tablet or smartphone. There’s more good news: banks don’t charge a fee for the transaction(s). It’s also possible to use debit cards and e-wallets such as Skrill or Neteller. Or use a pre-paid voucher like Ukash. Make sure that you have your bank pass and identifying token by hand before using iDeal. Not everyone is happy with this, since it costs some time. Don’t forget that it only benefits you in the end, since the identification process is designed to protect the payments from hackers.
iDeal and security
It’s very important that you can pay in a safe and secure environment. Most banks have taken several tips to ensure this, including the implementation of a unique security code. It’s known as the ‘two factor authentication code’ and you can only use it once. You have to enter a specific code, like a PIN, in a 2FA identification token for a specific payment. This is necessary, because it’s a way to identify you as the legitimate owner of a bank card or online bank account. After entering a PIN code an authentication code will be generated for you. It can be seen as your ‘digital signature’ to confirm a payment you’ve done with iDeal. Remember that when an iDeal payment is confirmed, you cannot cancel it anymore.
Safe and anonymous transactions
This payment method is very popular because there are no fees and the transactions are protected. Just as important is the fact that every transaction is anonymous, which means that private information about the depositor isn’t shared with the recipient. He or she doesn’t know anything about your bank account details, for example. However, always make sure that you choose a reliable company or webshop to purchase products or services from. Obviously, no one wants to be scammed. Luckily there are several authorities that protect you from this. So just have fun in an online casino and use iDeal as a quick way for a deposit.
What is ideal?
Just like the other European payment services mentioned above, iDEAL also works with (direct) online banking. This means that the person who wants to transfer money must have a bank account with one of the participating banks to enable online banking. The Dutch banks that currently allow their customers to use the iDEAL service are:
• ABN AMRO
• ASN Bank
• SNS Bank
• ING bank
• Triodos Bank
• Van Lanschot Bankers
How does ideal work?
Since iDEAL is not an online payment service, but only provides the interface (protocol) to enable online payment, you do not need to subscribe to the service. Anyone can make a payment with iDEAL, as long as they have an internet banking account with one of the affiliated banks (or with one of the European banks affiliated with SEPA).
Payments made with iDEAL are made through the following steps:
• Click on the iDEAL logo on the payment page of a webshop as a payment option;
• An iDEAL pop-up window appears in which the customer has to select his or her bank;
• The customer is redirected to the login page of his or her own bank;
• After logging into the account, the customer must follow the bank’s iDEAL procedure to make a payment (the transaction details are automatically displayed by the bank);
• The customer confirms the payment (of course after checking all details);
• After confirmation, the customer is referred to the website of the webshop.
Payment is immediately confirmed to the receiving party. The deposited amount will immediately be added to the recipient’s account and the amount will be immediately deducted from the depositor’s bank account. Both parties receive confirmation from their own bank, but often it is also confirmed in real life by means of a message or face-to-face.
When the depositor is logged into his or her bank account, the bank will provide a so-called “Two Factor Authentication” code. This is a unique security code that can only be used once for the specific payment and must be entered in a “2FA identification token”.
The identification token (referred to as “E-dentifier” and “Random Reader” by the Dutch banks ABN / AMRO and Rabobank) will, after the depositor has been identified as the rightful owner of the bank card, by means of the token and pin code supplied with the bank card, generate an authentication code that serves as the digital signature for the depositor to confirm the payment on the bank’s iDEAL payment page.
An iDEAL payment can also be made using a mobile device such as a smartphone or tablet, but after an iDEAL payment has been confirmed, there is no possibility to withdraw or cancel the transaction. The latter is also the reason why normally neither the recipients nor the banks charge fees for payments made through the use of the service. Instead, they indicate that once the order is completed it is really done, so the customer can no longer change his or her order. (Note: of course, consumers are well protected against reprehensible actions by sellers and / or organizations by consumer protection authorities).
The iDEAL service can also be used to upload money to debit cards or e-wallets (such as Neteller or Skrill) or to purchase prepaid vouchers such as Paysafecard or Ukash.
iDEAL payments are not only immediate, secure, accurate and free, but also completely anonymous, because no sensitive information about the depositor (such as credit card or bank account information) is shared with the recipient.
Pay with iDEAL in an online casino
To deposit money into an online casino account, the same procedure applies as with a payment in a webshop (as described above). After iDEAL has been chosen as the preferred payment option, the payer will be forwarded to his or her own internet banking environment, after which the payment can be made. The deposited amount will be available immediately and no service fees will be charged.
Withdraw to iDEAL in an online casino
Unfortunately it is not possible to withdraw money from an online casino account using the iDEAL service. To withdraw money, a different payout option must be chosen.
Benefits using iDEAL
Using iDEAL to deposit the money into an online casino account has several advantages, such as:
• iDEAL payments are safe and insured. Because the normal (trusted) internet bank account of the depositor is used, an iDEAL payment is made with the same security standards as with a normal bank transfer;
• Payments made with iDEAL are made immediately.