A new wave of online payment methods has occurred in recent years. As technology improves, companies are looking for unique and innovative ways to help consumers online. When it comes to the gambling industry, debit / credit cards and manual bank transfers have always been the two main reasons available to bettors. However, while each has its own benefits, they also have flaws. Clients must enter their financial information on the bookmaker when using debit / credit cards, or they must visit the branch when depositing with a bank transfer. InstaDebit offers a solution – instant online bank transfer through a secure third party. InstaDebit is only originally available for Canadian residents, and InstaDebit has expanded worldwide and is now available in many countries to clients of a wide range of banks.
How InstaDebit works ?
As mentioned, InstaDebit allows customers to make payment to VOIP companies directly from their online bank account. Bank credentials remain secure between the individual and the bank and no personal information is disclosed to the merchant.
Clients can set up an InstaDebit account by completing the simple online registration form. There is no need for an individual to deposit funds to open an account – instead funds can be transferred directly from the bank account . InstaDebit uses IdentifyTM, which verifies customer details and bank account numbers. Once users set up an account, the process becomes very simple. When an individual wishes to deposit into his betting account, he will simply choose the InstaDebit payment option and enter his username and password before confirming the deposit amount.
InstaDebit does not charge customers for any use of their service – small fees are charged to merchants instead. However, if the transaction includes any currency conversion, the company charges a small transfer fee. The website can be found in English, Spanish, Polish, Swedish, French, Italian and German.
What are the advantages and disadvantages.
There are a number of pros and cons about using Insta Debit:
Advantages
Clients can deposit to Insta Debit safely knowing that the company has great security. InstaDebit is concerned with maintaining the security of its customer information and uses high level (128 bit) encryption in addition to firewalls. Accounts are monitored 24/7.
Good customer support – Insta Debit representatives can be reached 24/7, via phone, email, live chat and mail.
InstaDebit allows bettors to deposit quickly and freely from their bank account without having to enter their financial information on betting sites.
Negatives
While InstaDebit is expanding, it is not yet available in every country and not in every bank in the countries where participants are available. For example, in the United Kingdom, Insta Debit is only available to customers with an account with Barclays or HSBC. This limits the number of people who can use the service.
Since InstaDebit was originally a Canadian payment method (a country that does not support the largest percentage of online companies in the world) and is not available to VOIP sites in some countries, many VOIP websites are don’t offer InstaDebit as a payment option.
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