iWallet

Financial companies tend to connect with their customers in a private and sensitive way. Due to the nature of this relationship, many brands focus their operations on a specific region. Such an approach allows them to get familiar with a particular culture and the habits of their users, which increases the overall quality of service.

iWallet perfectly illustrates this strategy. It’s a gambling-friendly financial company targeting the Asian market. Being one of Asia’s more popular deposit methods, iWallet certainly caught our attention. We rolled up our sleeves to give you this detailed analysis of this digital wallet.

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About iWallet

iWallet entered the scene in 2009. The brand is headquartered in Hong Kong, regarded by many as the financial heart of Asia. In addition, the company has offices in the Philippines and Europe, and its team is constantly growing to help iWallet increase its footprint in markets around the continent.

We should point out that iWallet is among the few platforms explicitly advertising themselves as an online casino deposit option. The payment method’s official site has many promotions aimed at different countries in Asia, for example, Indonesia, Malaysia, Vietnam, and Thailand.

It’s very convenient, and you can use a wide range of methods to fund it, including USD with Visa and Mastercard, international bank transfers, or local options such as UnionPay and Chinese or Japanese local bank transfer. You can also deposit via banks in Indonesia, Malaysia, Vietnam, or Thailand.

iWallet supports various fiat currencies: USD, GBP, EUR, HKD, JPY, IDR, SGD, THB, CNY, and VND. But that’s not all, as the digital wallet also accepts many cryptocurrencies. You can use BTC, ETH, XRP, BCH, LTC, DASH and ZEC to top up your account.

Additional Features

iWallet also offers a prepaid card, allowing players to skip the middleman and use the card for their gambling activities online. It’s a very secure feature, as it only works on modern cash points with the latest security features. This can be problematic if your city or town doesn’t have a well-developed cashpoint infrastructure, but it will undoubtedly keep your money safe.

Although iWallet accepts cryptocurrencies, it doesn’t work as a crypto-wallet. The increased security risk is the main reason why the payment method doesn’t offer this possibility. All deposits you make are converted into EUR after the payment is processed.

Target Markets

iWallet primarily targets players in the Asian market. Although the payment method is based in Hong Kong and regulated by the local authorities, you won’t be able to use it for gambling in the region due to its restrictive laws. You can now use iWallet in China, Japan, Singapore, Malaysia, and the Philippines. The digital wallet also holds a UK license, but British online casinos are not keen on offering this banking method to their gamblers.

Initially, iWallet was focused on Japan as the popularity of online gambling skyrocketed in this country. Luckily, it expanded its presence in the region. It has particularly become a popular payment method in Malaysia.

iWallet Account

Opening an iWallet account is simple and easy. Visit the payment method’s official site and click Register. You can choose between three types of accounts: Personal, Personal, Business, and Corporate. If you’re not planning to use iWallet for work-related purposes, then choosing Personal is the best option. Once you make a choice, enter a valid email address. The address you provide will serve as your username and a means of verifying the account.

The next step is to enter the required information: name, last name, date of birth, country of residence, and password. After reading and agreeing to the terms and conditions, you’ll receive an email containing the verification link. Click on it to complete the signup process.

You still have to verify your account, as using a free version comes with a $1,000 cumulative transaction limit. To verify it, you’ll have to provide an identification card with the same name as the one you entered during the registration. The entire process of verifying your identity should be completed within a day or two.

How to Deposit with iWallet?

Simplicity is one of iWallet’s main characteristics. The entire process has no unnecessary steps and focuses on completing all transactions in a straightforward and secure way.

To make a deposit with iWallet, log into your online casino account and visit the Cashier page (some sites call it Banking or Deposit, but it’s essentially the same). Choose iWallet from the list of available payment options, and enter your email and password and the amount of money you want to deposit. Click Confirm and refresh the page. The funds should be in your account. You can now place real-money bets!

How to Withdraw with iWallet?

The cashout process works pretty much the same. First, go to your casino’s Withdraw section (or its equivalent). Select iWallet as your option for withdrawing money, enter the sum you wish to cash out, submit your personal information, and click Confirm. That’s all to it!

Transfer Times, Fees, and Security

All processing activities are done by iWallet work like clockwork. When depositing your funds, the process should be completed instantly. Follow the steps we mentioned above, and you’ll be able to enjoy your live casino games in no time. As for cashing out, your winnings should be in your account in 2-3 business days. That’s not long, especially when compared to some other methods. To avoid longer waits, avoid making withdrawal requests before the weekend.

iWallet doesn’t charge any fees for casino players, as merchants cover all expenses (in this case, these are online casinos supporting iWallet). According to available information, these costs are reasonable compared to those other payment providers impose. However, currency exchange includes a fee, a standard practice for all e-wallets. If you use the same currency for everyday payments, this won’t affect you. Closing your account comes with a $5 fee.

iWallet pays particular attention to the safety of its customers. The digital wallet uses HTTPS to provide the maximum level of security on its platform. SSL encryption is also there to protect all sensitive information. The company’s multi-layered security scheme includes an anti-money laundering officer and a compliance officer, whose presence makes any fraudulent activity on the platform virtually impossible.