Rapid Transfer is an instant payment product by Skrill, a subsidiary of UK-based Paysafe Group. This is an ideal solution for clients who favor a good old bank transfer and online banking security over credit and debit cards, or any other digital payment method.
Rapid Transfer enables clients to pay directly from their bank account through online banking they already have. Clients don’t have to leave the website to log onto some other payment platform/app. As an instant bank transfer payment method, you can shop online, transfer money, and make deposits directly from your bank account.
This instant payment service has been accepted by 170 banks worldwide. It allows you to deposit money into your Skrill eWallet, or make direct purchases online. As the name indicates already, it is a quick, safe, and easy-to-use online payment method.
However, this isn’t a different payment method or a new eWallet that requires additional registration or sign-up. An instant online banking method merely facilitates direct bank transfers and acts as a “gateway” between the e-merchant and your bank account.
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Rapid Transfer Explained
Once you’ve selected Rapid Transfer as a method to finalize the online purchase on the merchant’s website, you will be redirected to the Rapid Transfer website. This landing page is this gateway that enables a direct log in to your online banking to finish the payment by submitting your bank credentials.
You will see the payment summary, and the final step is confirmation of the transaction. In some cases, you may need to confirm additional security codes like OTP or SMS 2FA. Which is another security layer of protecting your banking details.
As simple as it is, this method is available in almost 20 European countries: UK, Netherlands, Sweden, Bulgaria, Denmark, Austria, Estonia, Finland, Belgium, France, Germany, Hungary, Greece, Italy, Latvia, Portugal, Norway, Poland, and Spain.
To help users make inexpensive transactions that eliminate conversion fees, this method offers various European currencies, such as EUR, DKK, SEK, GBP, BGD, HUF, NOK, and PLN.
Rapid Transfer is part of the Skrill, a well known and widely accepted eWallet in many online casino venues worldwide. Hence, a lot of online gambling operators have included the Rapid Transfer payment method in their cashier section too.
How to Deposit via Rapid Transfer?
Head straight to the cashier page, and look for the Rapid Transfer. You will be taken to the service’s landing page to select your bank and log into online banking with your bank credentials. Then just enter the amount you want to deposit and confirm the transaction. Your instant payment to the live casino has been made.
How to Withdraw with Rapid Transfer?
Unfortunately, the withdrawal of the funds from the gaming account is not possible with this method. In most cases, the casino will offer you to withdraw your money with a regular bank transfer.
Transfer Times, Fees, and Security
Deposit with this method is fast. All transactions are processed in real-time. The only thing that Rapid Transfer needs to check is your bank account balance. Then they can confirm that there are sufficient funds to make the desired deposit. This is done immediately, so players can start enjoying their games in a matter of seconds.
On the other hand, online casino withdrawal will last longer as it will be done via standard bank transfer. This means that you may have to wait for your money between 3 to 5 business days. The casino also needs time to approve the withdrawel request. So the whole process could last an entire week.
This method is safe as it already enables the existing high-security standards from your bank. Besides, it uses additional security codes such as One-Time-Password or SMS verification. Your bank credentials and all financial details are not stored and remain fully encrypted by your bank. The transactions with Rapid Transfer are SSL-protected.
Rapid Transfer users will benefit from minimal or even no fees! In most cases, the online casino will decide to pay the costs, but you have to check this in the casino’s payment policy.