Casinos Accepting UseMyFunds

UseMyFunds, which is formerly known under the name UseMyBank, is an online payment method provided as a flagship product by UseMyServices. The latter launched the product in 2002 in an attempt to provide customers with a revolutionary option for shopping online and make payments and deposits over the Internet.

Overview

Launched more than a decade ago, UseMyFunds was one of the first web-based payment systems, which were focused on using trusted and secure regular Internet banking environment. In other words, the payment method became one of the pioneers on the market, which provided its users with the opportunity to carry out their online payments by using their own bank accounts.

Currently, the system is used by more than 1.6 customers all over the world, and their number is constantly growing.

The interface offered by UseMyFunds is considered quite convenient as it operates only like a facilitating and “buffer” platform, and thus an intermediary between the customer (no matter if they are a person or a web merchant) and their banking institution. This basically means that the actual payment is carried out by the payee’s bank.

Apart from physical users, merchants are also welcomed to use the services offered by UseMyFunds. The greatest benefit for them is the fact that all payments and online deposits are made in real time, which literally eliminates the risks for the merchant, because the transactions are instantly completed.

In addition, merchants are charged with some of the lowest fees in the entire industry by using the payment system of UseMyFunds. There are no monthly fees and no set-up fees. Reporting and cancellation fees are also not charged.

Screenshot of UseMyFunds Home Page

How Does It Work

The platform provided by UseMyFunds is considered convenient, secure and easy to use, especially considering the fact that it does not require the customer to download or install anything on their personal computer .

The way the payment system works is pretty simple. When shopping in an online store or paying for certain services, the customer needs to select the UseMyFunds payment method as a payment option. Then, they are required to choose the financial institution that they want to pay from.

The payees need to have in mind that they must be registered in order to use their own bank’s web-based banking services. If they have a registration, they are required to log in in their account by filling in their username (user ID) and password. The payment needs to be approved in order for the customer’s purchase to be finalized. And last, the payee should click on the “return to merchant” button, which completes the payment/deposit process.

The transaction details are received in real time by the merchant. This basically means that the money transfer is carried out instantly, without any delays.

Screenshot of UseMyFunds How It Works Page

Deposits in Online Casinos

Over the years, UseMyFunds has become one of the most used methods for depositing money in online casinos. The fact that the transaction is both verified and carried out by the customer’s trusted bank makes the deposit procedure very easy and convenient for players.

The process is absolutely simplified, considering the fact that the cashier page of most online casinos offer a tab called “Instant Banking” or “Internet Banking”. Then, the amount of money must be deposited and submitted in order for the transfer to be carried out.

After being redirected to their own banking account log-in page, the payees are required to follow the regular bill payment procedure and confirm the deposit, which is immediately carried out. After finalizing the operation, the deposited amount is to instantly arrive on the customer’s online casino account.

No fees are charged by the online casinos when depositing money over the system of UseMyFunds.

Screenshot of UseMyFunds Deposits Page

Withdrawals from Online Casinos

Unfortunately, no withdrawals from online casinos are possible by using the UseMyFunds payment method, except for Canada-based players whose bank accounts are approved for Pre-Authorised Debit (PAD) transactions. However, Canadians should be aware of the fact that they will be required to register a UseMyFunds Buyer account before using the withdrawal option offered.

All other online casino players need to look for alternative withdrawal options that will allow them to receive the money gathered on their casino accounts.

Advantages

UseMyFunds is considered one of the best and most easy-to-use web-based payment system providers that offer their customers to use the available services without making an account. This is extremely convenient for busy people, or for people who do not want to burden their minds with remembering more login details.

Another great advantage of the payment method is the fact that there are no fees charged for carrying out payments and deposits using the payment system, because UseMyFunds is an intermediary between the bank and the user.

The fact that all deposits and payments are carried out literally instantly and arrive to the merchants or on the casino accounts in real time is considered one of the best features provided by UseMyFunds. In addition, all payments are processed anonymously, because absolutely no data related to the depositor is revealed. This makes the payments even safer, which is why customers can rest assured that their personal or bank account details will not be shared with anyone on the Internet.

Screenshot of UseMyFunds Advantages Page

Disadvantages

Currently, the service is available only to residents of the countries where the payment method is offered. In addition, it can be used by customers who have online bank accounts of a bank supported by the service.

Probably the greatest setback of UseMyFunds is the fact that only Canadian players who own a PAD-approved bank account are provided with the opportunity to withdrawal funds from their online casino accounts. All other users are not allowed to do that.

Security

The payment and deposit system offered by UseMyFunds is absolutely safe, as it offers a risk-free platform to all its customers. The method uses an Secure Sockets Layer (SSL) encryption for every transaction, which means an increased level of security.

One of the greatest features offered by the platform is the fact that there is no registration needed, as customers are allowed to use their own bank accounts and the transactions are are carried out in a protected bank environment.

The customers’ personal data collected by UseMyFunds is not provided to any third parties. It is collected by the service in order to better understand the personal needs and requirement of both personal and business users and provide them with excellent services. As the platform only facilitates the transactions, it does not disclose any sensitive personal and banking details of its users to anyone.

Screenshot of UseMyFunds Security Page

Conclusion

The payment and deposit services provided by UseMyFunds are both simple and useful. The convenience, fast transfers, and security offered to its customers are some of its largest advantages in comparison to the other providers of similar online services. The fact that there are no fees charged and the system is practically free, is also found attractive by the customers all over the world, who have chosen UseMyFunds for a payment system to use.

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