Using WebMoney at Online Casinos
For experienced gamblers, few payment methods are more convenient when it comes to banking than e-Wallets.
One such popular payment option is WebMoney. Founded in 1998, the e-Wallet payment solution was mainly used by and directed towards customers from Russia and the Eastern Bloc countries. Nowadays, WebMoney is used worldwide and accepted by thousands of online merchants, as it boasts a customer base of over 25 million registered users.
Today, we’ll talk about using WebMoney at online casinos and teach you everything you need to know to have the best gambling experience.
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WebMoney was founded in 1998 by a Russian company WM Transfer Ltd. It’s a global Internet payment system that allows registered users to make online payments, transfer money, get loans, exchange currencies, and carry out several other financial transactions. The payment provider also issues virtual and plastic MasterCard and VISA debit cards (WM Card), and an e-Wallet purse that can be funded and used for online payments.
If you want to become a WebMoney user, you must sign up for the platform, which would take only a few minutes of your time. During the registration, you will be required to provide necessary personal information like email, password, username, a currency for the purse (Russian Rubles, Dollars, Euros, Belarusian Rubles, and Ukranian Hryvnia).
Once registered, the customers receive a 12-digit WebMoney identification number called the WMID, or the Identifier. This ID number is linked to the purse and is used (in combination with the password) when performing online transactions. In most cases, the provided mobile phone number and email address can be used as the user’s login ID.
WebMoney users can create various purses and bind each wallet with a different currency. Within these purses, customers can generate as many WMIDs as desired. Also, WebMoney offers multiple tools to manage the purse(s) more efficiently.
Now that you’ve created an account and generated your purse, it’s time to top it up with funds to be able to make online payments. You can do this with a wide range of deposit methods, such as bank wire, credit cards, bank branches, affiliate agents, and so on.
The fees for transferring money to a WebMoney account depend on the method chosen, as well as the processing time needed for the funds to reach your WebMoney account. With most payment methods, the transferred amount will be available on your WebMoney account within minutes.
Aside from the fees involved for funding the wallet, WebMoney charges a standard service fee of around 0.8% of the payment amount.
To protect the transactions carried out at online casinos, WebMoney offers different passport types that require different levels of identification and verification process. There are four different types of passports available, depending on customers’ payment activities.
- Alias Passport: This type of passport is given to all new WebMoney users who provide and verify their emails and phone numbers. In some casinos, you may not be able to withdraw money with the help of this passport due to certain restrictions. This level of passport is fee-free, but the services available are quite limited. Also, the overall security of transactions carried using this passport is on the low-end.
- Formal Passport: To activate this type of passport, you will need to provide additional identity verification proofs like a copy of passport, or your ID card. However, you can use it for casino withdrawals. It also allows you to link your WebMoney e-Wallet purse with your VISA or MasterCard for payments. You can issue a formal passport fee-free.
- Initial passport: To qualify for this type of passport, you have to visit the WebMoney office in person with your identity proof. This option is best suited for high-rollers, as it allows you to make higher limit transactions to and from your casino account. However, you will have to pay certain fees for availing of the service.
- Personal Passport: This is the best option for those who want to deposit extra-high amounts of money at an online casino. It provides the highest deposit and withdrawal limit and comes with extra levels of verification. There is also a fee involved in carrying out transactions with this type of passport which you would have to pay directly to the WebMoney agent. If you’re interested in finding out more about it, we suggest that you visit the providers’ website.
Depositing with Web Money in Online Casinos
Making transactions at online casinos via WebMoney is easy as pie. Of course, you must first check whether the chosen casino accepts this payment method. If it does, then select WebMoney when the casino operator offers you to choose between supported payment methods during the deposit process. When you click on the WebMoney logo, you will have to fill in the amount you wish to deposit, after which you will be redirected to the WebMoney website. Once there, the depositor must enter the account’ credentials, confirm the payment with the WMID, and the funds will be instantly visible on their casino account.
Keep in mind that, while most casino operators won’t charge you any fees for performing this type of transaction, WebMoney charges a default fee involved for all purchases made via the system.
Withdrawing with WebMoney in Online Casinos
Most casinos that allow their patrons to use WebMoney to make deposits also allow withdrawing funds via this payment service. However, if you plan on using WebMoney for casino withdrawals, you should confirm this information with the casino’s customer service support. Some casinos have specific rules and conditions regarding withdrawals made via WebMoney.
Also, the system will most likely charge the standard fee for casino withdrawals and, depending on the casino operator and type of WebMoney purse used, it can take up to several days for the transaction to complete.
Pros and Cons of Using WebMoney for Casino Transactions
There are several benefits of using WebMoney for casino transactions. Here are the main ones:
- You can fund your WebMoney account via many different ways, including cash points, bank transfers, and VISA/MasterCard, among others.
- All WebMoney transactions are 100% secure. While depositing or withdrawing funds to and from an online casino account, the operator won’t require you to provide any financial or personal details, meaning that your transactions will be entirely anonymous.
- It’s a quick and smooth way to transfer funds. Deposits made via WebMoney take only a couple of seconds, while withdrawals may take up to several days, but that’s still faster compared to other payment services.
- It’s available all across the world. Although this is undoubtedly the best payment option for Russians and Eastern Europeans, many of the WebMoney offices have now expanded globally, providing a safe, anonymous payment option for gamblers across the globe.
There are some downsides of using WebMoney for performing casino transactions, though:
- The provider charges fees for almost all services.
- Opening a WebMoney account may be a bit complex.
- The platform is based in Russia, which makes it harder to access customer service and solve potential issues.
- Most US casinos don’t support this payment operator.
WebMoney charges a standard fee of 0.8% of the payment amount for every transaction. Aside from that, you may encounter additional fees charged by casino operators.
In theory, WebMoney can be used for casino withdrawals, but it’s best that you check with the venue staff first, as some operators apply specific rules and conditions for this method.
Usually, for transactions exceeding $200, you will be required to undergo some sort of verification procedure.
They may take between several hours and ten days, depending on the casino operator you’re playing with.
WebMoney is one of the safest and most secure payment services in the world. The online banking system uses several layers of protection for safeguarding your personal and financial details, including digital certificates, 12-digit symbol code, standard password, and a cutting-edge SSL encryption technology.