iDeal is a payment system, based on on line banking. Found in 2005 and used in Netherlands this method represents a way of shopping in Internet with a direct transfer to the customer’s bank account. The iDeal on line payment is created by The Dutch banking community to ease the whole process of paying for on line products.
How it works
The principle of working is that iDeal uses the same environment as the customers on line banking sites. For the merchants it appears to be an ideal method to accept their payments. In fact they offer the iDeal as a payment method through the web site, while the consumer chooses iDeal, after that selects their bank and then he is redirected to the bank’s login page. After that the bank shows the transaction data. Once the account number is entered the fund is transmitted from the consumer’s account. The merchant on the other hand receives a confirmation for the transaction by the bank. The authorization of the transaction happens in real time.
When making a transaction the credit card numbers are not shared with the merchant. The payments can be made either from your PC , or by using the mobile version of iDeal. However, you should firstly check if your bank supports the mobile version of the iDeal. It can also be used in other countries, but in those cases when a foreign merchant offers iDeal as a payment method on his website. The banks which support iDeal are the following: RegioBank, SNS Bank, ABN AMRO, Van Lanschot m ASN Bank,, ING, Knab, Rabobank, Triodos Bank or Friesland Bank,
Creating account / purchasing a card
The only thing that you need if you want to use iDeal is an on line banking with on of the supported Dutch banks. If you haven’t create your own on line banking yet you can consult with your bank for fixing this so that you are able to enjoy shopping from the 13,000 web shops.
Making a payment with iDeal
Keep in mind that payments made through iDeal cannot be reversed. The process is as simplified as possible. You can either use it as a customer and make their on line purchases after which the confirmation for completing the process is sent or either as a merchant who accepts the payments for their goods .
Withdrawing money with iDeal
Withdrawing money with iDeal is practically not possible as iDeal is not requiring any further information about your bank accounts and credit cards .
Advantages of using iDeal
One advantage that iDeal offers is that they don’t require any registration and can pay immediately on line for their goods. Unlike credit cards payment the consumers remains the control of the release of any personal details. Another thing is that they offer save and protected environment for the users. It is realized by using 2 factor authentication – 2FA. One advantage only or the merchants – there is no charge back.
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