The online gambling industry has improved the quality of its services immensely in recent years. Not only are the most innovative games being invented, but so are the most modern and convenient payment methods appearing left and right. With the aid of technological improvements and innovations, many powerful financial companies have created exceptional payment methods, which are listed across global online casinos, offered to their players.
As an online casino player, therefore, you can always choose to use traditional or modern, alternative payment methods. Or both, in one solution, like KoalaPays. This is an all-encompassing payment method, offering exchange, dedicated bank account, money transfer and even eWallet services. Why use KoalaPays as your payment method at an online casino?
As introduced, KoalaPays is a payment method that offers four different banking services, allowing you to make all kinds of money transfers all across the globe, as it suits you. Based in the Czech Republic, in Brno, and founded in 2020, it is quite the trending solution across online casinos. It offers its services in both digital and over 20 fiat currencies that you can use to make seamless online transactions all across the world.
Regulated by the Czech National Bank, it is a perfectly safe solution to use, the security being its primary concern. That’s why its platform is compliant with PCI rules and protocols and ensures unrivalled transactions protection with the latest anti-fraud management technologies it uses. And that’s why it has gained the trust of many global financial corporations and companies, to expand its network of partners and offer its services across the world.
As an online casino method, it is particularly popular due to its flexibility. As an all-in-one solution, it allows you to use all of its services, depending on when you need them. You can use it as an eWallet and this is how it is most popularly used across online casinos. You can open several, not only one, multi-currency accounts. You can make SWIFT and SEPA payments, and you can enjoy its exchange services. You can send and receive transactions anytime you want, from anywhere in the world. But there’s one slight issue. You can only create a business account with it and cannot use it privately.
However, if you have a commercial relationship with a company which has an account with it, or you’re a customer of such a company, you can still use it. For example, if you don’t want your gambling habits to be seen by your company, you can always open an IBAN account and deposit and withdraw across online casinos under your company’s name. This way, though, you’ll be using your KoalaPays account without the need of sharing any company or personal details with the casino.
Getting Started with It
As an online casino player, you would probably want to use the eWallet solution. To create your eWallet account, you would have to go to its official website. Find the Sign-Up button at the top right corner of the screen and click or tap on it. Or, if you are using an Android or iOS mobile device, download one of the apps from Google Play Store or Apple Store.
Regardless of the device you decide to use, the following are the instructions you need to follow in order to create your account:
Create the username and password you'll be using to log in and re-enter the password to confirm it.
Enter your phone type and phone number.
State your country of residence, and the full name of your company.
Add the address of the company, city and ZIP code included.
Enter your email address, and select your preferred currency.
Name the company’s contact person, directors and shareholders’ names and the ultimate beneficial owner’s name.
State the company’s website and whether you are a VAT payer.
Confirm all information and click on the Register button.
Even though you’ll need to share so many company details with KoalaPays, you can rest assured that the information will never be shared with any online casino you join. Once you register the account, you can use all of the available services without worrying about any details ever being shared with anyone.
The next step would be funding your eWallet. This would be the easiest part because you can do that via your online banking account. You probably already have a bank account in some bank, and an International Bank Account Number (IBAN), based on a standardized numbering system that recognizes any bank account, from any bank, from anywhere across the world. As long as you do, just log in to your online banking account and transfer the money in a few seconds.
How to Deposit at Online Casinos with KoalaPays?
Depositing with KoalaPays would be pretty easy. The difficult part can be finding an online casino that accepts it since the list is still too small. Have in mind the fact that it is a relatively new payment method though, but considering it has so much to offer, don't be surprised if the list of casinos that accept it increases with the speed of light.
Assuming you’ve found one that accepts it, follow the next steps to make your deposit:
Go to the online casino’s Banking/Cashier page.
If you cannot spot KoalaPays logo immediately, look it up on the "eWallets” page.
Select it and log in to your eWallet account.
Enter the amount of money you wish to deposit at your online casino account.
Just confirm the transaction and you'll see the funds transferred to your casino balance in a few minutes.
So, depositing with this incredible solution is not only an easy but also a near-instant process. Add to that the fact that it comes with really low fees and you’ll see why it is already the favourite solution among some online casinos.
How to Withdraw Winnings with It?
If you followed the depositing process carefully, you already know how to withdraw with KoalaPays. The process is pretty similar, only this time, specify how much you’d like to cash out, instead of how much you wish to deposit.
Keep in mind that the casino may take up to 48 to review your withdrawal request and check whether you have any wagering requirements or any other terms left unmet. Considering all is in order, the casino will probably ask for identification documents at this point, to ensure that you're the one requesting the withdrawal, and not someone pretending to be you. These are the rules as set by the authorities, stating that all operators must comply with the KYC (Know Your Customer) protocol, identify all players and verify their identity.
To create your account with KoalaPays, you won’t need to pay any fees. However, to use one or more of its services, fees would apply.
These fees would depend on the number and type of services you’ll be using and will be written in the Business Agreement that you need to sign with KoalaPays before you start using them. If you do not agree with the fees, you don’t need to accept the agreement.
One of the best things about KoalaPays is that once you get started with it, you can create many accounts with different default currencies. Being the global solution that it is, it does not only accept over 20 fiat currencies, but it also allows you to transact with the most popular digital currencies out there.
Some of the cryptocurrencies you can use are XRP, Bitcoin, Ether, Bitcoin Cash and Litecoin. As far as fiat currencies go, you’ll be able to use Australian dollars, New Zealand dollars, Great Britain pound, euro, Swedish krona, Czech koruna, US dollars, Canadian dollars, Turkish lira and over a dozen of others.
KoalaPays is already quite popular in the UK and all over the EU countries. But when you start the registration process, you can notice that most countries across the globe are accepted and can use all of its services, Australia and New Zealand included.
If you explore the Terms and Conditions page, however, you will notice that countries who are or were ever subject to CR/EU financial sanctions, meaning players from those countries, are not eligible to register an account with it.
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The platform is secured with an SSL encryption issued by none other than SECTIGO, one of the most trustworthy encryption providers. Plus, the company behind it respects and complies with all the financial and regulatory rules, so you can rest assured that your funds are safe with it.
Does it offer Customer Support?
Yes. If you have an uncertainty about something, you can first explore the website thoroughly, and you’ll probably find the answers you need. Or, go through its Blog page. If you cannot find the answer there, make sure you contact its Customer Support service, which is at your disposal 24/7. You will even get a member of the Support team and a dedicated account manager to assist you with anything you need, as soon as you become a business member.
Is its site available in Australian English?
Unfortunately, no. The site is only available in two languages, the Czech and the English languages. Considering its global reach, this may change in the future.
Can I use the eWallet service via my smartphone without downloading the app?
Yes. The entire platform, the eWallet included, is perfectly optimized for mobile use, so if you don’t want to spare phone memory to download the app, you can always use the eWallet via any browser, as it is perfectly suited for any screen size.
Is it possible to create a personal account and use KoalaPays without involving my company?
Sadly, no. The solution was designed to suit the business model and launched as a business all-in-one banking method, so you have to provide company details and open a business account to use it.