Who is Trustly?
Trustly is a Swedish Fintech company that was founded in 2008 that operates on the Paypal and TransferWise platforms. They are a multi-award-winning payment solution that has racked up Rising Star Status, by Deloitte in 2011 and 2012. In 2014 they won the CIT Golden Card award for “Most Innovative Payment Method”. This payment solution continues to surpass expectation as they offer free services to players in over 29 countries in Europe.
Of course, Trustly is not restricted to the online gambling world but can be used at retailers worldwide that accept their services.
How does it work?
In order to qualify to use Trustly, you will need to have a bank account with one of the major banks in one of the 29 supported countries in Europe. If you do not, you will have to opt for a different form of transacting your funds.
To make use of this service in an online casino, you can follow just a few very easy steps:
- Proceed to the Cashier page in the casino.
- Select whether you want to make a deposit or a withdrawal.
- Select Trustly as your payment method of choice.
- You will now need to choose your supported bank.
- You will then be re-directed to your bank's site to complete the transaction.
- Payment will be made to the casino instantly (in the case of a deposit) or withdrawn within a few hours at most.
You see, the payment is made from your bank account to Trustly instead of the casino. Trustly then internally credits the casino with funds, and you can begin gambling within minutes. It offers all of the convenience of an e-wallet to gamblers, without the waiting times, verification processes and fees.
1. Real-time transfer Speeds
Although transactions are carried out via your standard banking app, the fact that they are being paid to Trustly ensures that they are done instantly. This works for both withdrawals or deposits, unlike most Instant Payment services that can only accommodate deposits and not withdraw funds from casinos.
2. Extra Protection and anonymity
Making use of Trustly ensures that you do not have to input data onto the casino site. Your protection and security are governed by your very own bank, who’s level of protection far outstrips that of an online casino. Trustly also does not store any of your data after the transaction, which means that your details are not floating out in cyberspace somewhere waiting to be picked up.
An added bonus to using Trustly is that your bank identifies the payee as Trustly and does not know that the funds are being transacted to an online casino. This keeps your transactions private and away from prying eyes.
3. No Account or fees
Trustly does not require you to register an account. Each transaction is isolated and is treated as a once-off transaction. Because of this, there is no need for administration/membership costs, and you don’t need to validate any details to cement your membership at all, unlike with e-wallets.
Disadvantages of Trustly
Even when trying to be sceptical, it is very difficult to place a finger on one single downside to Trustly. The only possible criticism that could be mustered is that there is no rewards program offered, but when you can identify with the advantages of the fact that you don’t need to store your data on an account, you can realise the impossibility of a rewards option.
Trustly could possibly try and break into the rest of the world to be fair, as Europe seems to have the monopoly.
It is because of the lack of disadvantages that many online gamblers in Europe are making great use of this innovative payment solution.
Helpful usage information
There are no limits imposed by Trustly. You are only limited by your transfer caps set on your personal online banking profile. You can usually adjust these at any time.
Transacting with Trustly is absolutely free in every regard. Casinos are charged a small fee for every transaction processed. Therefore, you may find that a casino may charge you a small amount to recoup their loss incurred. This fee should not be misconstrued as coming from Trustly.
Trustly is currently available to major banks in 29 countries in Europe.
Trustly offers the services of an instant payment provider, but with the perks of an e-wallet, with none of the disadvantages of either. It is a truly unique payment method that offers a great service for free. Have a look at our CasinoWow reputable casino's list accepting Trustly.