Top 5 ELV Casino Websites
Find out how to make gambling deposits by ELV.
While credit cards are a common way to make deposits at Internet gambling sites throughout much of the world, this isn’t the case everywhere. One surprising example is Germany, where only about a third of the population even uses credit cards as a means for making payments. This means that casino sites have had to rely on other methods in order to reach potential players, such as ELV.
This method is a popular way to make online casino deposits through direct transfers from a user’s bank account. Fast, reliable, and secure, this is one of the top ways for Germans to get into real money online gaming.
The Standard for German Transfers
ELV is short for elektronisches Lastschriftverfahren, the form of direct debit payments that has been popular throughout Germany since the 1950s. Popularly known as Lastschrift or Bankeinzug, this system not only works similarly to EFT transfers in most countries, but can also be used to make direct debit purchases right at many points of sale throughout the country, particularly with the popular Girocard. The user simply signs a receipt, and the money is debited straight from their bank account.
Secure Deposits Made Simple
In order to use this option to make a deposit, you’ll first need to have an account at a German financial institution that utilizes the ELV system. Next, you’ll have to open an account at a website that accepts this method for payments; keep in mind that while you might be able to utilize some of the bank accounts to process more general wire transfers or bank transfers, those methods work slightly differently than the one we’re talking about here, which is unique to Germany.
If you have the appropriate accounts, you can head on over to the casino’s banking section and find this listed as one of the potential deposit options. Upon choosing this, you’ll need to let the casino know how much you want to transfer into your balance, as well as all of the necessary banking information: your account number, bank name and code, and the location of the branch where you hold your checking or savings account.
Once you’ve done all this, you can confirm and process your payment. In a matter of moments, the transaction should be approved or declined. Assuming approval, your funds should appear in your casino balance in a matter of moments, allowing for near instantaneous real money play.
Special Advantages for Players
You might expect us to say that ELV transactions have the same advantages as standard bank transfers, and for the most part that is true. The security of using the bank’s own systems to process and monitor your money, the speed at which these payments are processed, and the fact that this is a method that can be used by virtually all Germans are all major plusses.
However, this option also has an additional benefit for players – one that can be somewhat problematic for operators. Under the rules of the ELV system, payments can be returned for any reason for up to 45 days. This often means that this option is only made available (by merchants in general, as well as by casinos) to returning customers who are already trusted to combat the higher risk of chargebacks that come with ELV transactions.
Are There Any Fees?
ELV transfers are never subjected to any fees. In fact, even operators pay virtually nothing when accepting payments in this way.
Where Can This Method Be Used?
Because this is specific to Germany, this option is only available to those who hold accounts at German banks.
What Are Some Similar Options?
This system is very similar to other bank transfers and wire transfers. If you cannot use the ELV system specifically, those more general options may work for you, and are frequently offered as deposit methods at online casinos.
Do I Need To Sign Up For Any Special Accounts?
As long as you have an account at a major German financial institution, you will not need to set up any additional accounts or log into any third-party services in order to deposit in this way.