While today it is common for online casino players to process deposits through their online banking accounts, it wasn’t always this way. For most players, this is considered one of the newer options available, making it easier to move money from checking accounts than by dealing with wire transfers or e-checks. Numerous companies have popped up in recent years to fill this niche, some of which work in very specific markets.
One of the first groups to offer this service was UseMyFunds. A product designed by UseMyServices, it was launched in 2002 and quickly grew to allow for instant payments to be made through bank accounts in dozens of different countries. Today, the service covers 30 different nations and countless major banks and e-wallet programs, allowing players to make deposits – and in at least one market, withdrawals – in moments using the same interface they use to make bill payments and check their account balances.
How to Use
Only two requirements have to be met in order to use this method. First, you’ll want to make sure that your bank account is at a bank that is part of the network of financial institutions that support this method. Secondly, you will have to sign up for an account at an online casino site that offer this as a deposit option. There are a number of great, trustworthy UseMyFunds casinos that are excellent options for players in markets around the world.
Once you’ve confirmed that this method will work for you, getting started is simple. Find this option listed among the many different deposit options listed in the casino’s cashier area. Choosing it, you’ll be prompted to tell the casino how much money you want to transfer over. At this point, you’ll also need to select the participating bank where you hold an account.
You will now be transferred over to the website for your bank. Log into the site using the same information you normally would to access your checking and savings accounts, and you will then follow the standard bill payment process in order to confirm the transaction. Once this is complete, you’ll be sent back to the casino website, where you should instantly see your funds added to your balance.
It’s worth adding that while this is primarily used as a deposit method, it is possible for some users to also take withdrawals through this same method. Though this is only rarely offered, Canadians who have submitted Pre-Authorized Debit (or PAD) forms to UseMyFunds are eligible to take money through the service, and some online gambling sites may allow them to take their winnings via this option, turning this into a full-service banking platform.
There are several advantages that are apparent when using this method. Many of these boil down to convenience: you’ll be able to use this option without having to sign up for any new accounts, and the funds transfer happens instantly, meaning it takes only a matter of a couple minutes from the time you start the process to when the money will hit your casino balance. Many players will also appreciate working with the security of their banks without having to actually share any financial information with the iGaming sites they play on.
In addition, UseMyFunds is also notable for being usable with so many major banks in a variety of countries. That reach makes it usable by a great deal of players, and has encouraged its acceptance at a wide range of casinos as well.
Where is this Option Available?
UseMyFunds is available in more than 35 different nations around the world. The current list includes the following countries, as well as many others; Australia, Austria, Belgium, Brazil, Canada, Costa Rica, Czech Republic, Egypt, France ,Germany, Italy, Netherlands, Philippines, Poland, Spain, Switzerland, and Turkey.
Can I Use This for Deposits in the USA?
This service is offered in the United States, but cannot be used for online gambling purposes due to banking regulations. Other merchants may accept payments from Americans who have accounts at Chase or Wells Fargo.
Are There Any Fees?
There are absolutely no fees charged to customers for using this service, and any charges that are present are instead paid by the casinos themselves. It is possible that some banks may charge fees on their end, however. In addition, a small fee is applied for Canadian players who use this method for withdrawals.