Does making an online payment give you the heebie-jeebies? If it does, you are not alone. After all, if your bank details fall into the wrong hands, there goes your life savings. No one wants to deal with that nightmare. But now more than ever, it is almost impossible to avoid making an online payment. And avoiding online payments would mean missing out on some amazing goods, services, and entertainment options.
The good news is that online security has come a long way since the dark ages of the early internet years. There are plenty of secure online payment options available to you, all of which utilise cutting edge technology in order to keep your financial transactions safe from hackers. And the one we are looking at today is Entercash.
What is Entercash?
The Entercash payment method allows you to make secure bank transfers from one account to another in a matter of seconds. This payment method is ideal for those of you who don’t want to sign up for an e-wallet or share your credit card details online. You do not actually have to sign up to anything in order to utilise Entercash services – it works as an intermediary between your bank and the merchant’s bank. As long as you bank with an accepted Entercash bank, you’re good to go.
Entercash is available to use across 18 countries in the EU, however; it is most widely used in Finland, Sweden, Germany, and the Netherlands. The service can be used to pay for goods and services in a wide range of sectors. The online casino industry, in particular, was quick to include Entercash as a payment method for deposits. In fact, we will use online casinos to showcase how the system works.
How It Works
If you reside in Finland, for example, you will have access to any number of excellent online casinos – some of which you can find if you click here. Once you find a casino that floats your boat, and you have signed up for an account, you can immediately head to the payments section to make your first deposit.
Select Entercash from the menu of payment providers, and then follow the instructions. You will be directed to a list of participating financial institutions. Find and select your bank from the list of options. You will then be directed to your bank’s online platform, which you should be familiar with. From there, you can make the transfer as you would normally do from your account. Once you have requested the transfer, you will be asked to verify the transaction and confirm the payment. Your funds will then appear in your casino account almost immediately.
Not only is this a secure method for depositing money into a casino account, but it also offers privacy. Your deposit will appear on your bank statement as an Entercash payment rather than a casino payment. You will also be eligible to claim your welcome bonus when using this payment method, as opposed to when you use Skrill or Neteller, for example. Another advantage of using this method is that Entercash will not charge you any fees to use the service. However, you will need to check whether or not your bank imposes a transaction fee on Entercash transfers.
As with most things, there are a few downsides to the Entercash payment method. The first is that you cannot use it to withdraw winnings from your casino account; you will need a second payment method. The second is that this payment method is not as widely available as credit cards or e-wallets; you may have to search through a few different casinos to find one with this payment method. The third is that you may find that your casino imposes a minimum transaction amount when using this method, so you may not be able to make small deposits.
It is important to be aware of the fact that in 2019, Entercash was purchased by a company called Trustly. Trustly is a renowned and trustworthy name within the payments industry, so this buyout should not be of any concern to Entercash users. If anything, with Trustly as a parent company, the service is likely to benefit from an even more robust security system and better customer service.
Trustly have been providing secure transactions since 2008, and their system works in exactly the same way as Entercash. Trustly is widely available throughout Europe and America. The company is authorised by the Sweden Financial Supervisory Authority and they are licenced as a European Payment Services Provider.
So, there you have it; a safe and reliable payment service that will hopefully help you sleep better at night. But don’t get complacent. Remember that you are responsible for keeping yourself safe online. Protect your passwords, never make financial transactions when using public WIFI, and don’t respond to emails asking for your bank details.