Euteller is one of the most popular electronic payment systems currently available on the internet. Despite only being around since 2007, this company has grown considerably in stature and is now the number one provider of electronic payments in its home country of Finland. As well as being able to make payments online people can also make payments directly from their phones by using the Siirto app.
Unlike say Skrill or Neteller, Euteller is not an eWallet. Euteller runs its services in the same way as its rivals Trustly and Sofort. When you make a payment using Euteller you establish a direct connection between the merchant you are paying and your bank via the bank’s own internet banking portal.
There are two ‘must haves’ when it comes to Euteller. The first is a bank account with one of the banks from Euteller’s approved list, and the second in a bank account that has an internet banking facility.
Currently there are eleven banks that permit payments via the Euteller ePayments system. Most of these banks are based in Finland but there is also Danske Bank (based in Denmark) and Nordea (which offers banking services to people in Finland, Denmark, Norway, Estonia, Latvia. Lithuania and Sweden).
Euteller is currently based in Turku in Finland and is regulated by financial service regulators in its home country. It is not known whether Euteller has any plans to expand beyond the current list of countries it offers its services to.
Why Use Euteller at Online Slots Sites?
The main purpose of Euteller is to allow customers to make payments directly from their online bank account. Of course, such a thing is possible using a Visa debit card for example, but plenty of people feel uneasy about using their debit card online. Although online casinos are required by their licence provider to encrypt their transactions, there is always the chance of something going wrong and someone gaining access to your debit card details.
With Euteller this service provider creates a temporarily link between your bank account and the online casino at which you are making a deposit. This link online exists for a fraction of a second – the time in which the transaction is approved by both parties. Once okayed, the normal banking processes take place to move your money from your bank to the online casino, or whatever merchant you are using Euteller to make a payment at.
This method is far safer than using your Visa debit card. It is also the best way for people who do not have debit cards to make payments from their online banking-enabled bank account.
- Safe and secure
- Ideal for people who do not possess debit cards
- Payments are quick – your transaction should be processed instantly
Are there any disadvantages?
- Not available at all online casino
- Only available via a limited number of banks (mainly Scandinavian)
- May not be available for withdrawals
Is it easy to use Euteller at Online Slots Sites?
Making a deposit at any online casino that accepts Euteller could not be easier. All you need to do is first find an online casino that accepts Euteller. Then you need to head to that Casino’s cashier and choose your deposit amount and Euteller as your payments method.
Once you have approved the deposit the Euteller applet should pop up. It will ask you to select your bank. Do this then enter your username and password when prompted.
If everything is okay then the banking systems will start to do everything behind the scenes that needs to be done. There should be no delay to the deposit process and your money should be in your casino account in less than a minute.
Although Euteller is popular with online casinos for deposits, it is not quite as popular with online casinos for withdrawals. Euteller is seen as a customer-to-merchant payments provider, and not one that sends merchant payments to customers. There are a few more hoops for merchants to leap through when it comes to using Euteller to send payments to their customers.
Because of this, very few online casinos with offer withdrawal services using Euteller. If you want to use Neteller to make a withdrawal, then you will probably need to find an alternative payment method.
Euteller makes its money by charging its merchants to use its services. If a merchant (i.e. online casino) passes on these charges to customers then you are dealing with the wrong merchant!
Online casinos should not charge to make deposits or withdrawals, although some do. You should always favour online casinos that do not charge their clients.
A. The list is provided by the Euteller website. The current list is as follows: Siirto, Nordea, Danske Bank, Alandsbanken, Saastopankki, OP, POP Pankki, Aktia, Omaop, S-Pankki and Handelsbanken.
A. That is a good question! Euteller began in Finland and eventually spread to Sweden, Norway and Denmark. It then added Estonia, Latvia and Lithuania. It may expand further to encompass other European nations soon, but no concrete plans are known.
A. You can read our reviews, or you can head to the online casino itself. Decent online casinos will list their payment providers for your convenience. Some though will only ‘reveal’ their payment services providers once you have completed your registration with them. As with any online casino aspect, transparency is always a good sign!
Euteller is a fantastic and convenient way to make payments across the internet, and is more secure than typing in your debit card credentials. It is a shame that so few online casinos, and so few banks allow the use of Euteller. Hopefully if Euteller continues to be successful more and more banks and online casinos will green light Euteller to provide payment services.
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