GiroPay is an intermediary between online casinos and their customers. That is why the service is available only to a limited number of European residents.
To access the system, users are required to have a bank card or an account opened with one of the partner banks. The service offers no separate registration procedure. Upon application, all the information provided by the client gets compared to the corresponding data conserved in the partner bank. In case of total matching, the client is granted access to his account.
Each time users wish to credit their casino accounts through GiroPay, they have to confirm the transaction by inserting a TAN password on their bank’s website. Such a password gets generated for each new operation and serves only for transactions that exceed €30. Once the money gets credited to the recipient’s account, the client receives a special notification. To make payments, no third programs are required: all you need is your web browser.
GiroPay online casinos have one major disadvantage – the necessity to pay a commission. It is charged notwithstanding the bank that has issued the client’s card or opened his or her account. However, the banks can influence the amount of commissions. Normally, each transaction is subject to a commission that ranges from 0.9% to 1.2% + €0.08.
The service’s security is guaranteed by the fact that all the transactions get executed through the banking system. This enables clients to benefit both from additional security and a simplified payment procedure since the payment data will be borrowed from the system automatically for each transaction.
Only a limited number of players can use GiroPay to deposit their online casino accounts or make withdrawals. Such operations require having an account opened with one of the partner banks, and such banking institutions are present only in several European countries.