In 2005, iDEAL was said to be one of the most popular payment providers in the Netherlands and within just a few years it had expanded into neighbouring countries and experienced exponential growth, going from an annual transaction total of 4.5 million to over 150 million in less than a decade!
If you’re based in Europe, own a European bank account and want a safe way to gamble online, take a look at this guide and see if this method is the “ideal” one for you.
Depositing with iDEAL
iDEAL is not a web wallet, as many consumers mistakenly believe. It doesn’t operate like PayPal and Skrill. Instead, it is an online bank transfer service, one more closely related to the Swedish based Trustly Casinos and the German-based GiroPay. If you have used either of these services in the past then you will know exactly what you expect of iDEAL; if not, don’t worry, as it’s relatively simple.
The first step is to look for an iDEAL casino. It’s not as widely available as many other popular payment methods, but if you find a casino with a large following in Northern Europe, you may see iDEAL being offered.
Once you signup, simply visit the Cashier, select “iDEAL” as your payment method, and then input your amount. That’s really all there is to it.
The system will present you with a list of banks, from which you need to select yours. You will then be asked to enter your login details (for online banking) and to confirm your identity using two-factor authentication. Once you do this, you will be referred back to the online casino where you can complete the transaction.
Unlike a traditional bank transfer, which requires you to log into your bank, input the details of the recipient, and then wait up to 3 working days for the funds to clear, iDEAL process all payments in just a few minutes. This ensures you get your money straight away and can start playing moments after you deposit.
Withdrawing with iDEAL
iDEAL can also be used as a withdrawal method. Most casinos state that you need to withdraw all winnings back to the original payment method to comply with anti-fraud and anti-money-laundering laws. As a result, you may only be offered iDEAL as a withdrawal option if you deposited your initial balance through the same service.
However, that doesn’t mean you need to use iDEAL for all transactions from that moment on. The aforementioned requirements generally only apply until you have repaid your original deposit in full, after which you can generally send the money elsewhere.
For instance, if you deposit $500 through PayPal and win $2,000, you can withdraw $500 back to PayPal and then process the remaining $1,500 through iDEAL.
It’s also worth noting that there are a number of casinos that allow iDEAL to be used for deposits but not withdrawals.
Is iDEAL Safe?
iDEAL provides a three-pronged approach, a triple-threat of security. Not only does it use the latest encryption technology itself, but it also uses the security systems provided by your bank and your casino.
The actual act of inputting your bank details and sending money is done using your bank’s security system. Not only does this guarantee complete security, but in the unlikely event that anything goes wrong, your bank will be at fault and should compensate you accordingly.
To be on the safe side, we recommend always using two-factor authentication, installing a Remote Wipe app on your phone if using iDEAL via your mobile device, and always using secure Wi-Fi connections. You should also check that the casino you’re sending money to is regulated because iDEAL won’t allow you to initiate a quick chargeback if something goes wrong—it’s a bank transfer, not a credit card.
iDEAL Fees, Limits and Verification
There is no verification necessary to use iDEAL as everything is connected to your bank. You will need to enter your login details and you’ll also need to have online banking. However, unlike many web wallets, iDEAL won’t request that you undergo a strict verification process.
There are also no fees or limits to worry about, at least not from iDEAL. It is free for deposits and withdrawals and your transactions are not capped or restricted. You might be charged by your bank or online casino and there’s a good chance the casino will have some kind of minimum and maximum limit in place, but these are not set by iDEAL.
Additional iDEAL Account Options
One of the great benefits of iDEAL is that you don’t need an account and you can use the service to transfer money via web wallets, as well as bank accounts. It is a complete payment service aimed at online gamblers, people who demand the quickest, safest, and most convenient payment solutions.
What’s more, not only does the recipient not see any of your sensitive financial information, but they won’t see any of your other information either. The only information they have on you is the information you provide them with when you open your account. iDEAL won’t divulge anything, thus making all payments completely anonymous.
Summary: iDEAL for Online Casinos
The online gambling industry is one of the most diverse and truly global industries in the world, bringing together all cultures, countries, tastes, and budgets to enjoy games that often transcend all of these things. To understand just how far we have come, you only need to look at the many payment options that modern online casinos offer.
You can choose to play with everything from PayPal and Visa to Trustly and POLI, from the global giants to those offered to just a handful of countries. iDEAL is a payment option that falls firmly in the latter category, as it focuses mainly on the Dutch market and can be found on a growing number of online casinos and sportsbooks.
iDEAL ticks a lot of boxes, as it manages to combine speed, ease-of-use, and low fees. It’s an option designed to improve many other payment methods, and not to replace them, and it’s one that we would recommend for anyone seeking a fast and safe way to transfer money.