Finland is among the most dynamic e-commerce markets in Europe. One of Finland’s most popular alternative payment methods is the so-called ‘Verkkopankki,’ which, translated from Finnish, means online banking or online bank transfer system.
As many countries strive to have their own localized payment methods that will best suit their citizens’ needs, Verkkopankki is one of those local payment solutions available in Finland. In other words, Verkkopankki is Finish online banking.
This is an instant, real-time bank transfer method. When you decide to use Verkkopankki and buy something online, you will first be prompted to sign in to your online banking, as usual, using your banking credentials. No additional registration is required.
You will then be able to check all the financial details, the amount, the merchant, etc., and if you find that everything is fine, you can confirm the transaction. Once you’ve done this, the online merchant receives a confirmation via a URL notification, and you are returned to its webpage to buy some more, maybe.
Nowadays, it is not rare to see global financial services and payments platforms include such alternative localized solutions in their portfolios. In this way, they are both expanding the offer and helping users from different countries hassle-free online shopping without looking for some other banking method they do not use.
As one of Finnland’s most preferred alternative payment methods, many banks offer the Verkkopankki payment system that is so easy and convenient because it allows people to make payments and buy online in minutes. Hence, many webshops in Finnland have already implemented Verkkopankki to speed up the online PoS procedure and attract more people to their internet shops.
Finnish consumers truly prefer online bank payment over any other solution available. As a real-time bank transfer method, every Finnish client having a bank account can shop online. This also means they can deposit funds and play popular live casino games almost instantly.
The main downside of this method is that it is available only in Finland. However, bedsides this disadvantage, there are some benefits too. The merchants will profit from allowing this real-time online bank transfer with a minimal chargeback risk for the merchant.
Furthermore, by including Verkkopankki as a payment method, they will attract more customers and help those market segments with limited credit and debit card usage to access online shopping. Verkkopankki has also proved to be an excellent alternative in case of card rejections or blocked accounts.
As for the customers, Verkkopankki is automatically available if they have any bank account. They don’t need to register to use the service. The only thing the client needs to do is select it as its payment method when shopping online. So, Verkkopankki enables convenient and straightforward transactions, eliminating the need for using credit or debit cards.
How to Deposit via Verkkopankki
To deposit via Verkkopankki is easy, as you can already infer from what we’ve already said. When you land to your online casino’s banking page and find the deposit section, look for online banking as Verkkopankki will be listed there.
You will then be redirected to your online bank interface to sign up using your banking credentials. Then you can select from which account you wish to make this deposit, enter the desired sum, and select the currency.
You will then be able to finish the transaction, which will usually be executed immediately, enabling you to visit the casino’s lobby and pick your favorite game.
How to Withdraw with Verkkopankki?
The withdrawal with Verkkopankki is the same. Go to the cashier page and again find Verkkopankki among online banking methods. Repeat the procedure and define the amount you wish to take from your gambling account.
Transfer Times, Fees, and Security
Deposit transactions are easy and fast, almost instantaneous. However, there might be some delays after the “payment completed” info is displayed. Your online banking is taking care of your security, allowing you to track all transactions and react on time if you notice anything suspicious.
But, don’t worry, you will know exactly when the money arrived into your gambling account and when’s the time to play!
As with any withdrawal procedure, the one with Verkkopankki will also last a bit longer, which mainly depends on the casino’s processing time. Usually, this takes between 12-48h. However, the banks also need some time to process the transaction, so you will most likely see the money in the account after 1-3 business days.
Verkkopankki is an extremely secure payment method as it utilizes the original hight-security procedures from the banks. Finnish banks use TAN for additional security, so fraud risk is low. The client logs directly into his bank’s online system, not Verkkopankki’s account that is then redirecting him to the bank’s interface.
Since this is a direct bank transfer, the bank doesn’t charge any additional fees. However, some casinos may charge you, so we advise you to check their payment policies or read the FAQ to find precise information.