OlaMoney is one of the most popular e-wallets in India, used in more than 300 businesses across the country. Available exclusively to Indian users, OlaMoney is a financial payment giant providing various exclusive offers for its clients. Due to its ease of use, speed, and convenience, OlaMoney has become one of the popular payment methods for online gambling purposes.
It works in a simple way: customers feed their OlaMoney account through a wide range of options and use the service to carry out transactions where available. You can use it as an e-wallet but also as a credit card, while both these options boast fast transaction times. Today, we’ll see how OlaMoney functions, what perks and benefits it offers, and how you can make the most of it.
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OlaMoney was launched in 2011 by Ola Financial Services, a company based in Bengaluru, Karnataka. The main objective of this payment service was to offer customers a convenient way to carry out their transactions in the real world and online. OlaMoney also provides a broad range of promotions for its clients, which has proven to be a great way to draw new users. Still, the wallet’s simplicity has remained the key factor in its rise.
To use OlaMoney, you’ll need to download the OlaMoney app and install it on your mobile device. Great, you’re halfway there! The next move is to complete the KYC procedure by verifying your identity. This part of the process is mandatory, as required by the Reserve Bank of India, the country’s central banking institution.
Full KYC consists of three simple steps. First, enter the details of your PAN card, upload a government-issued document (driving license, voter ID, passport, Aadhaar card), and click a selfie. A guide on how to complete the verification process is available on-site. Follow it, and you’ll be ready to use the app in no time. The only remaining thing is to add money to your OlaMoney e-wallet.
How to Deposit with OlaMoney?
After installing the app and completing the verification, it’s time to add funds to your OlaMoney e-wallet. From the app menu, choose OlaMoney, enter the amount you wish to add, tap ADD OLAMONEY, and choose a payment mode. The process is relatively simple, especially as it comes with on-screen instructions. The minimum amount you can add is INR 1, while the maximum sum available in your wallet balance is INR 200,000.
To use OlaMoney for online gambling, you must find a casino that accepts this payment method. Open a new account, and visit the gambling establishment’s banking game. Choose OlaMoney from the list of supported options and enter how much you wish to deposit. Once you initiate the payment, you’ll need to confirm it by logging into your OlaMoney account. Submit your login credentials, and make sure you have enough funds to complete the deposit. The money should immediately appear in your balance, and you can start enjoying your online live casino games.
How to Withdraw with OlaMoney?
After scooping wins, you’ll be able to cash out your winnings with the OlaMoney e-wallet. The process itself is very similar to depositing. Go to the Cashier page, pick OlaMoney from the list, enter the sum you wish to take home, and hit the Withdraw button. There should be no problems completing the procedure, as there are on-screen instructions you can follow.
Transfer Times, Fees, and Security
If you choose OlaMoney as your deposit method, you can rest assured the funds will reach your online casino balance in a matter of seconds. However, we can’t say the same about cashing out. The reason is the casino policy, which includes processing times – a period needed to process the transaction. Despite that, OlaMoney is considerably faster compared to other means of payment.
Another great thing about OlaMoney is that the service won’t charge any fees, nor will it include additional charges for depositing and withdrawing. However, cashing out the money from your OlaMoney e-wallet involves certain costs.
Although we couldn’t find the exact information about the security measures used by OlaMoney, we’re confident it’s more than able to protect its customers, their personal information, and their money. Encrypting all transactions has become an industry standard, while RBI ensures all financial services adhere to its strict rules.
If you need any assistance regarding the OlaMoney e-wallet, you can reach the company’s customer support team via email and phone. Also, the official website includes an FAQ section, which provides plenty of helpful information.