WebMoney is all about providing maximum usability. The company’s policy does not contradict those of gambling websites, so WM often supports online casinos. Still, you can top up your main casino account only from certain types of wallets. Some of them are not accepted by online casinos with WebMoney because of negligent popularity of a currency such as tenge.
There are also online casinos which accept all WebMoney currencies yet do not allow withdrawals to this payment system. This kind of limitation is a result of currency popularity issues too.
You can top up your casino account via WebMoney immediately after completion of the registration, as soon as the account is marked as “pseudonym”. However, a user who wants to accept a payment and then cash it out must obtain a formal certificate. This requires submitting your passport details using a special form.
In total, 12 types of certificates are available. Still, ordinary users who want to play in online casinos with WebMoney should be aware of 4 of them maximum:
- Pseudonym. It is issued to every user immediately after completing the registration without providing any personal data. Withdrawal limitations apply.
- Formal. It is issued after filling out a form with personal information. The submitted data is not verified. However, to have access to full functionality, you will have to upload a scan of your passport. Only some of the withdrawal options are available.
- Initial. It is issued after completing the verification procedure. To do this, you have to upload scans of your documents and top up your wallet via a specified transfer system (for example, Sberbank Online). All withdrawal options are available except for such payment systems as Western Union.
- Personal. This is the highest wallet level. To obtain it, you have to visit a certification centre and show your original documents for comprehensive identity verification. It is required to increase limits and open all possible withdrawal methods.
The level of your certificate is directly correlated with balance limits applied to your wallets. The minimum is USD 300 dollars (for anonym certificates), the maximum is USD 60,000 (for personal certificates). Financial limits can be removed at all if certain conditions and nuances are met.
The withdrawal of funds is carried out against a commission established by a party involved in the transaction, such as a bank or a payment system. The amount of the fee also depends on the currency of the wallet you want to withdraw money from. As for WebMoney itself, it does not charge any commissions. For example, cashing out to a bank card will cost you 2.5 % for WMP and 2 % for WMZ, while a wire transfer will be charged 1.8 % for WMP and 1.5 % for WMZ.
Formally, sending WM to a casino account is a regular payment made from a client’s wallet to the casino’s wallet. This means that the funds are completely protected against any attacks because they move within the system. As the funds do not go beyond the system, the transfer is carried out instantly.
Payments in any direction often take only a couple of minutes. On the other hand, withdrawals from a casino account can be delayed by up to a day. However, top-level gambling websites today seek to make sure a transfer is made instantly as soon as a submitted withdrawal application is approved.
When you use WebMoney as your main method of withdrawing funds won in casinos, make sure you pay all applicable taxes. This is what all Top WebMoney casinos stipulate in their policies. Otherwise, tax authorities will be informed of this ‘shadow’ income.
Interestingly, there is a Japanese payment system with the same name, yet it has nothing to do with the WebMoney we use.