POLi is an online payments system that was founded in Melbourne, Australia in 2006. POLi was once owned by a company named Centricom but such was the success of their POLi payments system that they decided to rename themselves POLi Payments Pty Ltd.
POLI is an electronic commerce product that can be used online by most people around the world, but the majority of its customers are based in Australia and New Zealand. POLi is an ePayments system has perhaps become as synonymous with Australia as Interac has with Canada, and iDeal has with Holland.
Unlike other eWallets POLi does not work by allowing its users to open an account in an electronic, internet-based format and transfer funds into it. Instead, POLi works by linking the internet-banking facilities of someone’s bank account to a merchant. The money is then transferred from the bank account, directly to the merchant.
Many banks with online facilities have criticised POLi for ‘hijacking’ their own internet banking services, claiming that POLi is an unsecure process. The argument is that hackers can gain easy access to a person’s online bank information by creating a ‘spoofing’ site to trick users into using POLi, and stealing their username and password. While there is a small element of risk if you wish to use POLi, as long as you are one hundred percent certain that the site at which you are using the POLi payments system is a legitimate one, you should face no issues.
POLi is only currently available with a number of banks in Australia and New Zealand. It is not certain that POLi has any plans to extend its services beyond those two countries.
Why Use POLi at Online Slots Sites?
While most online casinos accept Visa debit card payments, many don’t. Some casinos accept direct payments from online banks, but the majority don’t. Some banks also do not allow their services to be used to fund online gambling. POLi is one solution to all these problems.
POLi is a way of providing a link directly from your bank account straight to your online casino account. You can then directly transfer money from the former to the latter. POLi is the process via which the transfer takes place.
You do not need to have a POLi account in order to use the service – indeed POLi does not request that you open an account with them, and opening an account with them is not possible. The only requirement is that your bank has an internet banking facility, and is among the list of banks POLi offers its services by.
- No need to sign up for a POLi account – you just need an internet banking facility
- No fees involved, unless the casino charges you (which they shouldn’t)
- Extremely secure – no matter what the online-based banks say!
Are there any disadvantages?
- POLi is one way only. You cannot withdraw to your bank account with POLi
Is it easy to use POLi at Online Slots Sites?
To use POLi at an online casino site, you only need to have a bank account that has an internet banking facility and is on the approved list of POLi-enabled banks.
When you want to make a deposit, just head to the cashier of your chosen online casino and select POLi as your deposit method and enter the amount you want to deposit. The POLi applet should pop up and you will be able to choose your bank from the list of those provided. Once you have done that, you will be asked to enter your username and the password – the ones you normally use when using online banking. If everything is as it should be the transfer should be okayed and the money should be within your casino account immediately.
POLi gives you access to the account from which you are taking money from. In order to withdraw money from casino, you would need to access to their online banking facilities! For this reason, POLi is strictly one-way – it makes payments and it doesn’t receive them. This means that POLi withdrawals are not available at online casinos.
POLi does not charge for use of its services. Online casinos should not charge for you making a deposit, so if you are charged for making a deposit then you are at the wrong online casino!
POLi casinos have gone from strength to strength each year as they take the safety and security of their users very seriously. This company always uses the high levels of encryption technology and they regularly scan their systems to check for any vulnerabilities in their system. Their services are also reviewed by the New Zealand and Australian banks.
As you can see from their website, they only work in partnership with banks. They do not store any of your sensitive information and banking details on their site, therefore is it completely safe to use them and they actually provide an extra layer of added protection for players.
Yes, POLi is available on mobile devices and you can use it to fund your online casino account whilst on the go.
Players love that POLi does not charge any commission fees when using its service to make a deposit at online casinos. However, there is a small processing fee charged and around 0.9% of the transactional value is charged for withdrawals made from the casino through POLi.
When making deposits using POLi, it is the merchant, which here would be the online casino, that pays the fee which is 1% of the transactional value but it is capped at $3.
Withdrawals and deposits made through a POLi casino are instant and you will find the money taken out of your bank account and transferred into your casino account in a flash.
How much you can deposit at a POLi casino can vary depending on what casino you are playing at. However, this is a payment method that should be suitable for most players. Check with your online casino what the exact minimum and maximum depositing requirements are before signing up.
POLi is a quick, convenient and secure way of transferring money from your online bank account into your online casino account. It is a shame that so few online casinos accept POLi as a payment services providers, and that its facilities are only available via a limited number of online banks. Hopefully POLi will one day expand its operations beyond Australia and New Zealand, and more banks will sign up to accept cash transactions via POLi’s facilities.
POLi Casino Sites:
|Grand Ivy Casino||Grand Ivy Casino Review|
|18+. New players only. One bonus offer per player. Minimum deposit £20. Max bonus bet is £5. Bonus spins on selected games only and must be used within 72 hours. Bonus funds must be used within 30 days otherwise any unused bonus shall be removed. Bonus funds are 100% match up to £300 on your 1st deposit, 25% match up to £800 on your 2nd deposit, and 50% match up to £400 on your 3rd deposit. Bonus funds are separate to Cash funds, and are subject to 35x wagering the total bonus, cash & bonus spins. Terms apply. BeGambleAware.|
|Fruity Casa||Fruity Casa Review|
|*18+. New players only. Min. Dep. £10. Bonus spins valid on Fruit Shop, expire after 10 days. Bonus funds are 100% up to £100. Bonus funds + winnings from bonus spins are separate from cash funds and subject to 35x bonus wagering. Only bonus funds count towards wagering contribution. Max Bonus Bet £5. Bonus expires after 30 days, any unused bonus shall be removed. Terms Apply. BeGambleAware.org|