GiroPay is a payment solution that over forty million people in Germany regularly when making transactions online.
Deutsche Postbank created GiroPay sixteen years ago in 2006, with the intention of the service being put in place to make the online shopping experience more efficient for residents of Germany. Fast forward to the modern day, and there are now over forty million users, with the service having been able to have a positive impact in multiple areas.
What enabled GiroPay to spread its wings into the gambling area was the intrigue of punters who felt that it would be ideal to use a homegrown payment solution when making deposits and withdrawals at online casinos. It opened the door for GiroPay to provide their services to licensed German gambling companies.
So, still to this day, online gamblers can take their funds from Deutsche Postbank, Commerzbank and Landesbank Hessen-Thuringen and transfer them into their GiroPay accounts. And from there, deposits can be made at online casinos that welcome the use of the service.
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There’s a reason that GiroPay is the favoured payment solution of online gamblers in Germany. And that’s because there are so many pros to using the service. But, if you want to get started, there are actually a couple of processes that users must complete first.
Of course, how GiroPay works is by connecting to a person’s online banking, which is provided by the likes of Deutsche Postbank, Commerzbank and Landesbank Hessen-Thuringen. So, all this must be authorised first before a user goes and sets up an account with an online casino operator.
Once the stage above is complete, the next step is, of course, to head to an online casino that welcomes the use of GiroPay and register. It’s not going to take too long to get signed up, but when it comes to making the all-important first deposit, authorisation from the bank will be needed to get the ball rolling.
It’s a process worth going through, however, because new players will likely be in receipt of welcome offers such as deposit bonuses. And, GiroPay is a homegrown payment solution option too.
It’s fair to say that in the security stakes, you could describe GiroPay in one word, and that’s: robust. When using GiroPay, punters will have multiple layers of defence in place, beginning with the firewalls that GiroPay themselves had installed to guard their database. On top of that, GiroPay also utilises SSL Encryption technology.
With SSL Encryption in position on the GiroPay and the casino end of things, it’s almost impossible for cybercrooks to intercept transactions and wreak havoc. On average, you’d be looking at over a decade for SSL Encryption to be cracked by cybercriminals. But, if the unlikely did happen, there is also insurance included by GiroPay too.
It’s also worth noting that before a user receives any funds, there will be checks performed. And while it can often delay things ever so slightly, it’s the last line of the defence and worth it in the long run if it guards against fraud and account misuse.
Some online casino operators may apply withdrawal fees for users who retrieve funds via the GiroPay service.
Yes, there is a 1.25% tax applied to both deposits and withdrawals. It’s a nominal fee for users to pay.
GiroPay currently operates in Germany and Austria, and it’s highly unlikely it will ever become available elsewhere in Europe.
Yes, security such as firewalls and SSL Encryption is in place to keep data safe. All data will never be shared by GiroPay, either.
If you’re making a deposit at an online casino using GiroPay, the smallest amount you can add to your account is €10.