Yandex.Money is one of the most secure payment options because the service’s major owner is Sberbank, while the second shareholder is Yandex, Russia’s largest IT company. Any disputes you may have with a Top Yandex.Money casino are resolved fairly, even though not quite promptly sometimes due to the number of tickets opened by users.
Each user withdrawing money from their account will be charged a fee of 3 % + 15 roubles. A client will be exempt from the fee if they use a Yandex.Money card. The only downside of this wallet balance management method is the restriction applied to the amount you can cash out at an ATM without a commission. No commission is charged when a user tops up their casino account via Yandex.Money.
Limits on the withdrawal of rewards won in an online casino with Yandex.Money depend on your account’s status. All users are divided into three groups:
- Anonymous. The status is assigned at the registration. Withdrawal limit: 15,000 roubles.
- Personal. You have to submit your passport details and upload a scan of the document’s main pages. The limit is raised up to 60,000 roubles.
- Identified. It is assigned after additional identity verification through a licensed point (Svyaznoy, Euroset) or via Sberbank.Online. The limit is raised up to 600,000 roubles.
You can receive money immediately after opening an account, but withdrawing funds to a bank card or any kind of cashing out are unavailable. The whole functionality of the service can be enabled only after completing a verification process.
To ensure high payment security, the TLS protocol is used to transfer data. To confirm their identity, a user has to enter a one-time code each time a transaction with the wallet is to be performed. The codes are sent in the form of a short message to the provided phone number. If the system marks a transaction as suspicious, it will be stopped.
Deposits from Yandex.Money are carried out instantly. Withdrawals from a casino account can take 24 hours maximum. Most of the time, the money are sent within several hours provided that the casino service experiences no problems with payment processing.
While you might avoid paying taxes with small wins, make sure you report big ones to your local tax authority. At the identity verification stage, you will have to submit, along with other details, your personal identification number. This is because all the information related to your income will be sent directly to tax authorities. The Yandex.Money system offers an opportunity to make a deposit inside its service itself.
A disadvantage of this service is unavailability of accounts in any currency except for rouble. Therefore, almost solely Russian online casinos with Yandex.Money are present in the market.