From the payment methods offered across international online casinos, if a Portuguese player, make sure you choose MultiBanco. This is a solution offered across the top sites catering to players from the country, a national interbank network allowing for the most cost-efficient and smoothest transactions. It is one of the most popular methods used in Portugal for many reasons, which we'll look into here, and thanks to its credibility and unrivalled reputation, it is a preferred solution for players across online casinos. What is MultiBanco and why choose to use it across online casinos over any other solution?
About MultiBanco
As its name suggested, MultiBanco is an interbank payment solution offered by a network of multiple leading Portuguese banks. It was launched decades ago, back in the 1980s, as a joint initiative by the top banks in the country. As such, it is operated by SIBS which stands for Sociedade Interbancaria de Servicios, a group of 27 powerful banks in Portugal, which created a network that processes over 4.5 billion transactions a year.
When SIBS first launched it, only a few ATMs were offered across the two biggest cities in the country, Lisbon and Porto only 9 of them were in circulation actually. However, as its popularity grew as well as users' interest in it, today, there are over 12,000 ATMs all over the country. So, even though it started out quite small, the solution had a huge expansion over the years. For more effortless transactions, there are over 270,000 ATPs, as well, and that’s why the solution is used by millions in Portugal.
When the network was first designed, it was offered with the purpose of facilitating the everyday purchases and payments of Portuguese users. And three decades later, the purpose is still relevant; the network continues serving users in the best way possible and keeps up with trends, using the most innovative tech, to cater to users in the most modern ways. That's why today, it is not only offered to Portuguese users but also to users from 11 other countries across Europe and Africa.
Innovative services provided by the network, enabling smooth transactions for both users and businesses, are being introduced continuously, as are new functionalities and products, such as queries, vouchers, transfers, creditdebit cards and payments. To use it, however, you’d need to have an active account with one of the participating banks, as you’d assume. As long as you do, you are eligible to use all of its magnificent services, including MBPhone, MBSPOT, MBNET and the most popular service, MBWAY.
So, even though still most used by users in its home country, thanks to all the wonderful services it offers, the solution has become quite popular across the other countries it is available in. That's why actually the solution has managed to get offered across a variety of international online casinos, catering to players from all over the world, Portuguese players included. If it looks like a solution you’d like to use, continue reading to find out how to start using it.
Getting Started with It
One of the first preconditions you need to meet in order to start using MultiBanco is, as mentioned, to have an active bank account with one of the participating banks. But we also mentioned that there are many services and products you could use, among which for online casino transactions, cards and regular bank transfers would be most convenient. So, let’s focus on these.
So, in case you don’t have an account with one of the 27 member banks, which is highly unlikely since these are leading Portuguese banks, you'd need to open one with the nearest member bank in your vicinity. You'd need to go in person and apply for an account, filling out the application form with the required personal details. After the bank clerk opens your account, make sure you ask them for your online banking profile credentials. And with that, you’re ready to choose the product/service you’d like to use with this solution. In case you wish to use a card, you’d need to apply for one, maybe right there on the spot, while you’re still at the bank. If you wish to make a regular bank transfer, you’re equipped with your bank account and online banking profile credentials, and that’s all you need.
Now, MultiBanco ATMs accept cards issued by the following brands American Express, VISA Electron, MasterCard, VISA and Maestro. So, while at the bank, consider any of these brands to apply for a card.
If you wish to use a voucher, as that’s also an option, you’d need to go to MultiBanco’s official website and select the Vouchers option. Choose the brand you’d want to go with from the ones mentioned just now, or Paysafecard. Select the amount you’d like to have on your voucher and purchase it. The receipt you get for the purchase will contain the code that you’d need to use as your password when transacting with the voucher, so keep it safe.
Now that you have the details on the most used products by the solution across online casinos, let’s check next what you need to do to actually use them at an online casino for deposits and withdrawals.
How to Deposit at Online Casinos with MultiBanco?
As you could see, you can effortlessly start using MultiBanco, as long as you've purchased a voucher, been issued with a card or have opened a bank account with one of the member banks. Now, you must be wondering if you will find many casinos that accept the solution to check out and choose from. Well, the short answer is yes. The long answer is, most international casinos that cater to Portuguese players offer the solution. You’d need to explore a few options to find the most perfect site for you to join. Register an account with it, providing the needed personal details, and you’ll be ready to make your first deposit with the solution.
To make a deposit with MultiBanco, you’d need to do the following:
Locate the Payment Methods/Banking/Deposits page on your chosen online casino’s website.
Find MultiBanco’s logo on the list of accepted methods and press it.
In the pop-up, enter your bank account info, voucher or card details, depending on the product you chose to go with.
Specify how much you’d like to have on your casino balance.
In an instant, after you confirm the transaction, the money will arrive in your balance.
How to Withdraw Winnings with It?
Most of the casinos that accepted MultiBanco for deposits will also offer it for withdrawals. You can rest assured that you have the functionality at your disposal, but you better double-check with the casino to see whether it is, indeed, a cashout method.
If that’s the case, you’d need to go through pretty much the same steps as just described; only in step 4, specify how much you’d like cashed out from your casino balance. After your request has been reviewed and approved by the casino operator, the solution will transfer the money back to your bank account.
Fees and Limits
MultiBanco was designed to cater to users in the best way possible, but also to be the most cost-efficient solution available to users, and that’s why it charges no fees. Also, on its part, no transaction limits apply.
However, things might be different with casinos. Transaction limits with this solution, as with any other, will be implemented, due to regulatory reasons. Plus, some casinos may charge fees for using cards through the solution. And some of the card-issuing banks may also charge you for transactions you make through the network. So, the wisest thing to do is contact your bank to find out more about any fees involved.
Allowed Countries
Even though launched in Portugal, for Portuguese users, MultiBanco is a solution popular not only across the home country but also offered across 11 other countries.
Its services are available in Sao Tome and Principe, Timor, Spain, Romania, Poland, Bulgaria, Malta, Algeria, Luxembourg, Angola, and Kazakhstan. Therefore, players from all of these countries are free to use its services; before you decide on the service to use, depending on your country, check which ones are available to users from your country.
Accepted Currencies
Since this is a solution launched in Portugal, with Portugal still being its primary market, the default currency is the euro. This is the official currency of the country, and since you're transacting with the solution which is an interbank payment network, it goes without saying that the euro is linked to your bank account as the default currency.
Therefore, you won’t be paying any conversion fees if you’re using euros. But, in case you’re from a different country with a different official currency, or you simply want to use a foreign currency when transacting with the solution, you’d need to pay a conversion fee.
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Of course. MultiBanco offers an impeccable Support team, available via phone 24/7 and an on-site contact form. The lines for Portuguese users are 217 918 780 and 808 201 251, while for users from the other accepted countries (00 351)217 918 780 and (00 351)217 813 000.
Is MultiBanco’s official website available in Portuguese only or in other languages, too?
While the official website is available in Portuguese only, the Google Translate tool easily translates the site into any other language you want. We tried English, and it worked perfectly.
Should I download an app to use its services?
Only if you’re using the popular MBWAY product. You’d need to explore the MBWAY page on its official website to find out more about this product; if you like it, you can download the respective iOS or Android app from Apple App or Google Play Store to use it.
How can I be certain the solution is safe to use?
Since it is an interbank network run and launched by leading Portuguese banks, you can rest assured that the banks’ industry-approved security measures are active at all times. Add to that the fact that all transactions with it are protected with the latest technologies and encrypted and there you have it: a completely safe solution to use.
How can I be certain whether or not MultiBanco is offered as a withdrawal method at my chosen casino?
You'd need to look for its logo on the Withdrawals page or look it up on the casino's official website, at the bottom of the homepage. Or, to be 100% sure, you may contact Customer Support and they'll tell you with certainty whether this is a solution you can use for cashouts or not.
From the payment methods offered across international online casinos, if a Portuguese player, make sure you choose MultiBanco. This is a solution offered across the top sites catering to players from the country, a national interbank network allowing for the most cost-efficient and smoothest transactions. It is one of the most popular methods used in Portugal for many reasons, which we'll look into here, and thanks to its credibility and unrivalled reputation, it is a preferred solution for players across online casinos. What is MultiBanco and why choose to use it across online casinos over any other solution?
One of the first preconditions you need to meet in order to start using MultiBanco is, as mentioned, to have an active bank account with one of the participating banks. But we also mentioned that there are many services and products you could use, among which for online casino transactions, cards and regular bank transfers would be most convenient. So, let’s focus on these.
Even though launched in Portugal, for Portuguese users, MultiBanco is a solution popular not only across the home country but also offered across 11 other countries.
