Even though there are plenty of online payment methods you can use across online casinos, some are really more convenient and easier to use than others. One such payment solution is Bancontact. It is a payment processing method coming from Belgium, which has in recent years gained quite the popularity across online casinos. Why is Bancontact a great online casino payment method?
Originating from Belgium…
…Bancontact is a company that has evolved a lot since it was first established, in its efforts to expand and reach new markets. It started out issuing debit cards that functioned just like other debit cards, which made it quite successful across its country. Even though the company still issues these debit cards to this day, it has added several convenient functionalities to make their use easier and more accessible. The fact that it is issued by all major Belgium banks was what made it extremely popular to Belgium citizens, and later, to citizens of other countries. The following banks issue it:
- VDK Bank
- Crelan
- Argenta
- Nagelmackers
- AXA Bank
- Keytrade Bank
- Bank De Kremer
- KBC Brussels
- Belfius
- KBC Bank
- Beobank
- ING Belgie
- Bank J.Van Breda
- Hello Bank
- Bpost Bank
- Fintro
- BNP Paribas Fortis
- Deutsche Bank
- CBC Banque
- CPH Banque
What makes this payment solution special…
… is the fact that it dedicates a lot of effort and funds to provide users with the most important thing: security. Before conducting a payment, users need to enter the necessary personal and banking information but also to verify the payment with the 3D Secure Technology. Other security measures are implemented, as well, and that’s why this payment solution has a reputable track record and users trust it completely.
The company…
…was previously called Mister Cash, but it completely rebranded to Bancontact in 2016. Two years later, it merged with another major player in the country, Payconiq, and that merger led it to strengthen its offering even more. Prior to the merger, the debit card users were able to pay online in the standard way, but ever since, they are able to use both the Bancontact and the Payconiq services through one app and perform mobile payments with extreme ease.
Wherever users find either of the two companies’ logos, they can effortlessly pay with the mobile app. The now-large company offers a range of payment options for all debit cardholders, including payments via POS at numerous online and land-based locations, online payments with a card reader device and mobile payments. Regardless of whether users want to pay smaller or bigger amounts, they can do so with this payment solution with much lower fees compared to other similar solutions.
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Using Bancontact Across Online Casinos
Don’t be tricked to think that Bancontact is a solution available in Belgium only. Sure, Belgium is its primary market, but the company has expanded its reach to 17 other European countries. Its second-largest market is the Netherlands, but the service also has a strong presence in the UK.
Due to all of the efforts and expansion, the company managed to get the attention of the online gambling industry as well. More and more casinos accepting European players already have it listed as an accepted withdrawal and deposit method. And do you know why? Because it offers so many perks to online casino players.
Online casinos have made use of all those benefits the method can offer to their own and their players’ advantage. Before you even consider using it, though, make sure to check whether you’re a resident at one of the 18 available countries. And, before you choose it as your payment method for online casino gambling, make sure it is accepted at the casino you intend to join. Finally, make sure it is available as a withdrawal solution, since not all online casinos have the same policy, and the method is not accepted for withdrawals at all online casinos.
Making Deposits and Withdrawals Using Bancontact
No words can really emphasize how easy Bancontact’s system is to use, so let’s get on it right away. You have several ways of using this solution across online casinos for making deposits.
First…
…of course, you would need to get started with the method. You would need to go to one of the banks that issue the cards, and apply for your card. Considering the wide choice of banks at your disposal, you should have no problems getting a card in a matter of days. Once you have it, you can use it just like any other bank card, which means for online casino payments, too.
The next thing…
…you would need to do is find an online casino that accepts it as a payment method. Sign up or log in, and go to straight to the casino’s Banking page. Find its logo, and click on it. Now, you have three options.
One, you can follow the instructions and make a deposit using the card reader which will transfer the amount you entered to your online casino account instantly.
Two, you can pay using your mobile device. You would need to have the mobile app downloaded for that, and connected to your Bancontact account, though. Downloading the app is absolutely free of cost, and connecting it to your account is super-easy since you’ll get a link. By clicking on the link, you’ll automatically connect the app to your account. Then, just open the app, add the necessary details and using your PIN code, confirm the transaction.
The last option is depositing via your mobile by scanning a QR code that is present on the screen. You would need to enter the PIN code, here as well, and complete the transaction. So, no lengthy procedures, no exhaustion, no time-wasting – it is all done in just a few simple clicks.
When it comes to withdrawals…
…as mentioned, check first whether the casino accepts it as a withdrawal method. If not, you would have to look for an alternative withdrawal method. But Bancontact does have this functionality, where you can receive money to your account via its available channels. Therefore, if the casino offers it as a withdrawal method, the procedure will again be pretty easy for you to cash out your winnings.
Go to the casino’s Banking page again, select the card from the ones offered, and a new window will open. This is where you’ll need to enter the details to enter your Bancontact profile and the amount you wish to withdraw. Once you do that and confirm the request, the money will be credited to your associated bank account in a few business days.
Advantages and Disadvantages of Using Bancontact
One of the main advantages…
…you’ll get by using this payment method that you can rest assured your money will be 100% secure. Thanks to all of the security measures it employs, Bancontact is considered one of the safest payment solutions across Europe, and the company continues doing its best to stay that way. Its track record speaks for itself, as well as the method’s popularity.
The 3D Secure Technology implemented is not the only measure that prevents online fraud. The company uses hundreds of thousands of euro a year on preventing any possible security breaches, therefore, if there’s one thing you should not worry about, it’s the fact that your money is safe with Bancontact.
Another major perk…
…you can get with this payment solution is the convenience. Provided you’re a player from one of the 18 countries where this method is accepted, your online payments will be absolutely seamless. In just a few easy and straightforward steps, you can pay and receive money online, with no fees or really small fees compared to those required by other payment services.
On that note, it is worth emphasizing how easy this payment method is to use. Considering it is similar to any other bank card, people are familiar with all the steps they need to make to execute an online payment, and this is something that comes quite in handy for all online casino players not wanting to spend much time with the boring processes of depositing and withdrawing, and want to get straight to placing bets on their favourite online casino games, slot titles, bingo, horseracing types, and sportsbetting.
And then…
…the fact that it is offered via major banks all across Europe makes it easily accessible and available to all players from the 18 European countries allowed to use it.
But this can also be considered a drawback if you take into consideration all of those players that are not residents of these countries. For instance, players from the USA, Canada and Australia cannot play across online casinos using this method. And considering these are huge markets where the solution would be greatly beneficial, this is one of its disadvantages. But then again, the company behind it has gone to great lengths to expand its reach, so maybe in the future, the method will be able to players from other countries, as well.
Finally…
…due to the country restriction, not all online casinos accept it as a payment method. The limited availability would mean a lesser number of casinos for you to choose from. But don’t worry, if you’re a player from the 18 eligible countries and the casino accepts players from that country, you probably would be able to use Bancontact for your deposits. Withdrawals with it are tricky since not all casinos allow it as a withdrawal method, plus it takes several days for the money to get to your bank account even if they do accept it.
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FAQs
No. Even though Bancontact is pretty similar with other credit and debit cards in terms of functionality, you won’t find it in this section, because you won’t be able to access it just like you would access other cards. Due to the 3D Secure Technology, the method uses a secure gateway which requires a different payment processing procedure, described above.
This would depend on the problem. If you’re unsure on how to use it to deposit or withdraw money, you may contact the casino’s Customer Support. It is their job to help you with this type of situation. But if the transaction didn’t go through or something else happened, you may as well contact Bancontact’s Customer Support agents, as they are at your disposal 24/7.
Sure! Considering you can make smooth mobile payments with it, many mobile casinos are offering it as a payment method, casinos that accept European players.
As a matter of fact, no. This depends on the casino only. The casino will decide whether it would like to process a withdrawal with this payment method, so before you join one, make sure you double-check whether you can use it for both deposits and withdrawals or not.
Yes. One of the many benefits this payment method offers is the fact that it processes really small transactions, of, say, €25, for really low fees.
Of course. Once you have the card in your possession, even though you may have initially gotten it for online gambling purposes, you can later use it at your convenience. As introduced, many merchants accept it and incorporate POSs where you can even make contactless transactions, by holding the card near them.
