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Entercash
Real-time bank transfers have become one of the most popular payment services at online casinos. With good reason, of course. They are fast and reliable, allowing you to make online casino deposits and withdraw winnings to your preferred payment bank accounts. One of the payment methods that connects your online casino balance to your bank account is Entercash.
You’ll avoid registering an account with any other third-party service if you use Entercash. In other words, if you don’t want to share payment card details online, direct bank transfers through the Entercash gateway might be the right choice.
If we mention Trustly here, you might wonder how these two are connected. Trust us, they are. Stay with us to learn more about this payment gateway as a banking method at online casinos. We deliver Entercash’s pros and cons to help you decide if you’d like to give it a go. We also answer the burning question – is Entercash the same as Trustly? Intrigued yet? Then, keep reading.
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About Entercash
This Malta-based company was founded in 2011 after gathering an expert team of experienced fintech specialists. The Malta Financial Services Authority, which regulates the financial sector in this country, recognised Entercash as a legit payment service provider and granted the company a Payment Institution Licence.
Although based in Malta, Entercash has quickly spread across Europe. Why? Because its team brought members from various European financial institutions on board. Their vast knowledge and expertise helped Etercesh learn more about local regulations and market needs. So, the company tailored their services to meet these needs best, and the number of banks supporting Entercash grew. In one moment, the company was working with over 4,000 EU banks, which is huge.
Entercash allows gamers to make real-time deposits through its robust online payment gateway. It means you can get instant access to the casino lobby and start playing games without waiting. Moreover, Entercash also facilitates fast withdrawals. That said, when casino players learn they can cash out winnings and see the money land in their bank accounts in seconds, they’ll gladly opt for that payment solution.
Entercash is a new payment option for online gambling
Such a service quickly caught the eye of another giant, Trustly Group. Trustly is a world leader in open banking. It also provides an account-to-account platform and works with many well-known brands in the iGaming industry. So, in 2019, Trustly acquired Entercash. They explained that the level of experience and expertise of Entercash’s team motivated them to buy the company. This also proves that Entercash was doing a great job as one of the trailblazers in the open banking revolution.
Target Markets
Before Entercash merged with Trustly, the company was focused on providing digital payment services in Scandinavian countries. This makes sense since the founder of the company was Jonas Sundvall. Therefore, the main target markets for Entercash were Sweden and Finland.
However, Entercash soon became popular in other countries, including Germany, Greece and the Netherlands. Some data even shows that 80% of banks in those countries partnered with Entercash, confirming the technology used by this digital payment gateway was a success.
When Trustly bought them in 2019, Entercash became Trustly’s subsidiary and stopped its operations under the Entercash brand. Consequently, as part of Trustly, Entercash reached many more new markets, including the US.
Entercash Account
Great news. If you decide to use Enterrcash, you only need one account – in your bank. You don’t need to register with Etercash (Trustly) to deposit and withdraw money. As with any other digital payment gateway, Entercash works with business clients – online casinos, in this case.
Since Entercash directly links the casino’s cashier with your bank account, you don’t need to sign up with any other payment provider. However, you must check if your bank allows you to access your payment account from Entercash. So, before you join a new online casino, load the banking page to see if your bank supports this service.
How to Deposit with Entercash
Entercash online casino deposits are speedy and straightforward. However, keep in mind that Entercash is now Trustly. Therefore, if you only see Trustly’s logo on the page, go for it.
Select or type in the deposit amount and choose your bank from the list. The casino will immediately send you to your personal online banking to log in and finish the payment. When you confirm the transaction, your casino balance will receive the money, and you can immediately start playing your favourite titles. That’s it.
How to Withdraw with Entercash?
To cash out using Entercash, open the cashier and look for the withdrawal section. Don’t get confused if you only see Trustly there – it’s the same. Therefore, choose it as your preferred withdrawal method and enter the amount you want to collect. You’ll land on Trustly’s website. Check out the list of available banks, pick yours, and send the request. Your banks will process this transaction within its secured environment. Easy.
Transfer Times, Fees, and Security
Online casino deposits through Entercash are instant. Immediately after you confirm the transaction, the money will appear in your casino balance. On the other hand, withdrawals are not that fast. Generally, you’ll see the winnings in your bank account within a few hours. However, sometimes this might last longer since the casino must approve the request first. But, even if the cash-out takes longer, it will be much quicker than standard bank transfers.
Another great thing about Entercash is the fees. There are none. It means that Entercash and online casinos don’t add additional costs to these transactions. However, your bank might have processing fees, so we advise you to learn more about this to avoid surprises.
Security is another benefit when you choose Entercash as your casino banking method. We’ve already explained you don’t need an account to use the service, meaning you’re not sharing sensitive data. The highest SSL encryption standard hides your bank credentials and protects all your transactions. Finally, Trustly has a European Payment Services Provider licence and is supervised by the Swedish Financial Supervisory Authority.
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