What is Trustly? Trustly is the original open bank payment service that revolutionized the casino industry and made payments and withdrawals significantly easier and more secure for casino players and operators. They utilize the bank’s APIs to access the player’s banking data to transfer money directly between its accounts. Even though Trusly uses the bank’s system and customer data, they never process the payments or access any sensitive information about its customers. Everything is handled on the bank’s platform. So it’s actually much safer than giving out your card details and other sensitive information to casino operators. The service is also regulated by PSD2, the Second Payment Service Directive, which the European Parliament initiated in 2015.
Trustly has been an indispensable payment method for online casinos in the EU for years, and only recently other fintech companies have started to compete for casino operators.
Trustly is a fintech company that was established in Sweden back in 2008 under the name Instant Bank. Their business idea was to provide safer and more secure payments online, by connecting directly to the customer’s bank account. They originally offered their services only to Swedish players. But today, they have expanded to 21 markets and 600 banks, and they process 2 million transactions every month. They have grown to become a multi-award-winning tech company with over 1 billion customers and have offices in cities like Barcelona, London, and Cologne.
Make Deposits And Withdrawals With Trustly
You don’t need to register to the online casino OR to Trustly to start playing at a Trustly casino. This is where the name “No account casino” comes from. By opting for Trustly as your preferred payment method, you can make instant deposits and withdrawals by letting Trustly link your banking and casino accounts.
When you have chosen the right online casino, you click Deposit and choose Trustly as your payment method. Choose your country from the menu, and select the bank in which you have your account. You will be asked to fill in the amount you want to deposit and press Continue. Enter your ID number and proceed to enter your personal code. Lastly, pick the bank account you want to deposit from and sign with your personal code again to confirm your payment.
Is Trustly Free?
Yes, there are no transaction fees attached to depositing and withdrawing via Trustly. This makes the payment option very attractive for customers when it comes to online gambling.
What Is the Transaction Time?
The processing time for transactions is almost instant, depending on the bank you have your account at. Since it’s not Trustly itself who makes the actual transfers, but the bank, the processing of your funds will take as long as any transaction to or from your bank account regularly would. If a bank is not a part of the Trustly network, deposits and withdrawals can take up to three days to complete.
Downsides With Trustly
While open banking solutions are great for fast and secure online casino payments, it has some downsides as well. One thing to keep in mind is that countries outside of Europe may not be able to use this payment option. Even though you technically don’t need an account, as in a casino account or a special user account (like with Ewallets) to use Trustly, you do however need a bank ID and a bank account that supports Trustly’s services,
Hence it is not available to everyone.