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Different parts of the world have accepted and applied the tech advances of modern life in different time periods. As a result, many specific industries appear to be under the effect of too many changes all at once, and consequently, less time for their user pools to adapt.
However, in order to balance out...
...such inconsistencies, most of these advancements have been adopted in a particular manner, to a degree that best fits the dedicated user pool. Thus, globalization has definitely introduced the major benefits of technology all over the world, later applied in different ways depending on the needs and range of available services.
One such major change...
...in recent years has definitely been applied to the financial management segment. With the Internet, such establishments expanded their use to newly created business ventures, increasing market demand significantly. E-commerce platforms and online merchants, retailers, as well as a number of particular online service providers have all brought about the need for greater payment processing service variety. Thus, a new format of highly efficient, yet secure online payment systems have become widely available across various jurisdictions, with WebMoney as one of the top choices.
The WebMoney online payment processing service was initially created in 1998, by WM Transfer Ltd. As a subsidiary of its main operative central company, the WebMoney online platform first opened offices in Russia, and predominantly dedicated itself to catering this portion of the online payments market. Later on, the service additionally became available in numerous European countries, especially in the Eastern regions, along with other markets globally.
The WebMoney service...
...as the name goes to show, is mainly considered an online payment option. It was most popular among Russian users who took to this payment method for all kinds of money transactions, currency exchanges, money lending or loan applications, donation purposes and the likes. For this purpose, the company introduced a variety of products, covering both standard plastic cards – in association with Visa and MasterCard, as well as an online ‘purse’ e-wallet solution.
... on the WebMoney platform naturally include the established Russian Rubles, along with Belarusian Rubles, Ukranian Hryvnia, Euros and US Dollars. Should any of these fit your online payment needs, interested individuals are easily able to register and start using the service through its straightforward user interface.
How to Register for a WebMoney e-wallet?
Registering for an e-wallet with this given service is more or less the same as other products of the same nature. Interested parties are directed to visit the WebMoney official website and choose the option to create a new account.
Basic personal information..
... will be required in the given fields – name, address and email, as well as phone number, as commonly used by e-wallet services for identity verification. Both the email and the phone number you have submitted in your e-wallet registration can later be used for signups. However, in order to provide further identity authentication, the service will send a 12-digit WebMoney Identification number (WMID) upon each log in.
In other words,...
... after you enter your chosen username and password, which are known to be susceptible to theft, the service sends you the WMID code via SMS or email. Entering it guarantees that no one else can use your identity without having quite private access to your emails or texts. Once you learn how to register properly, you can open as many e-wallet accounts as you like, using different currencies, in order to manage separate aspects of your finances. This is further facilitated through the ‘keeper’ e-wallet tool that allows more direct access to all operations.
For even greater player satisfaction, the WebMoney e-wallet distinguishes 4 types of security verification procedures, i.e. WM Password options. These differ based on the information users are willing to provide upon signup, and as a result feature a range of player benefits.
- Alias WM-Password: This is the most basic, primary level of security and password verification process available to users as soon as they sign up for an account using nothing but their email or phone number, as well as a password of their own creation. As a result, users of these e-wallets get the service free of charge, but with a limited number of features.
- Formal WM-Password: For those e-wallet users who provide a scan, copy of an official ID form such as passport, there is the formal level of security verification. These users can top off their e-wallet account using money transfer systems, cards and direct bank transactions, as well as withdraw funds back to their standard banking services. Those using this type of e-wallet are further eligible to benefit from linking this account with their Visa or MasterCard.
- Initial WM-Password: This and the following form of password verification present users with a higher degree of security, and in turn, charge users upon issuing these services. A wider range of services is also included under this format, but the main benefit inevitably lies in the users’ ability to transfer and deposit much more massive, high-roller sums. In order to register for this type of WM e-wallet, you will need to visit one of their affiliate offices and provide a passport or other formal ID document for verification.
- Personal WM-Password: The significant fee for this form of e-wallet WM service is rather considerable, especially since Personal e-wallet users are able to enjoy all the top benefits. What is more, they can transfer funds with higher amount limits, and accompanied by a range of benefits, rewards and promotions. All you need to do is pay your fee at a legitimate WebMoney agent, and enjoy prompt, secure and massive funds transactions.
Using WebMoney as an Online Casino Payment Method
While users can choose from the level of verified security they get through the platform, as well as the range of additional features, the WebMoney e-wallet is nonetheless a rather suitable online casino payment solution.
The format of the service itself allows users to enjoy secure and speedy transactions, due to the fact that they act as an intermediary between your initial funding account and the online casino payment account. What is more, with WebMoney’s growing popularity since the turn of the century, it is nowadays present as an eligible payment method at all the top online casinos, poker rooms and the likes. Ultimately, some operators have even been known to offer specific player bonuses and promotions dedicated to those choosing this as their casino banking method
Using WebMoney for Online Casino Deposits
The process of using WebMoney for your online casino deposits is rather easy and straightforward, consisting of the few following steps:
Step 1: Find a suitable casino that offers WM deposits when funding your online casino player account. As soon as you log in to your chosen operator’s platform, you can go straight to the Banking section and select WebMoney from the list of options. It will most likely be listed under e-wallets, or as a separate service.
Step 2: Upon clicking the WebMoney icon, players will be directed to specify the amount of their deposit, and immediately afterwards, to log into their e-wallet. This login is just like any other, as players will need to input their specific chosen username (their email or number) and password, as well as the 12-digit WMID number.
Step 3: Considering you have enough funds in your e-wallet to meet the specified amount, you will be able to confirm the transaction momentarily. This will take players straight back to their chosen online casino, where the casino player account balance should already show a difference in the amount. While WM deposits are instant, there may be some delays when it comes to the site’s request processing and confirmation.
Using WebMoney for Online Casino 0Withdrawals
Withdrawals using WebMoney to cash out your online casino player winnings are performed much in the same manner, only in the opposite direction. In this regard, there are a few additional considerations to bear in mind, apart from the key points of the procedure explained above.
Thus, players should specifically address the online casino’s customer support, or their banking terms and conditions, and check for WebMoney under the list of withdrawal methods. Oftentimes, the casino may exclusively offer this method for deposits, and force players to choose an alternative most suitable to their needs.
Other than that, they should check for any fees or withdrawal waiting times imposed by their specific casino of choice. After all, such inconveniences could drastically affect the overall online gambling entertaining experience. You will need to account for any potential casino fees in combination with the standard 0.8% commission charged by the service itself for using the e-wallet ‘purse’ as a withdrawal method.
Advantages of Using WebMoney at Online Casino Sites
- Security – The WebMoney e-wallet ‘online purse’ is available to players at casino sites, as well as all kinds of additional e-commerce platforms. These include official banking institutions, allowing users to pay off their bank loan increments through this payment channel. For this purpose, WebMoney provides a fully secure processing option, packed with standard encryption protocols, that is Secure Socket Layer certification.
- Speed of transactions – Transactions processed through WebMoney are practically instantaneous, although there may be some delays imposed by the casino itself upon withdrawal. After all, most operators require a verification process, just to see if the player funds requested for cashout are cleared of any requirements before depositing them to any external account the likes of WebMoney.
- Availability of payments – While its deposit procedures are still largely in the focus, WebMoney is also available as a casino withdrawal method. This is quite a benefit for online casino players who are often forced to switch between payment methods, account logins and the likes when it comes to their deposits and withdrawals separately.
- Accepted countries – The service is only now starting to expand its service coverage. However, with markets the size of Russia and the USA, as well as a rather considerable portion of the European continent, the full range of accepted countries is still praiseworthy.
- Numerous banking opportunities – The service itself initially needs to be funded with real money deposits, in order for users to perform online payments afterwards. For this funding purpose, the service has partnered with banks, credit and debit card issuers MasterCard and Visa, and additionally allows funding through ATMs, terminals, cash office locations and the likes.
Disadvantages of Using WebMoney at Online Casino Sites
- Fee charges – Considering that WebMoney offers more than one service, it charges a various fee percentage for each transaction executed through its services. This depends on the method used to fund the e-wallet, and thus differs across bank transfers, cash terminals and the likes.
- Service diversity – As much as the range of services allows players to pick the most suitable option for their needs, it is evident that it additionally brought about several inconveniences. Some players get confused when picking between options, while others are simply put off the choices due to the variety of fees attached to them.
- Website interactivity – Another consequence of the range of services and lack of proper classification is the low interactivity of the website. This has further resulted from the language restrictions, as some pages are fully in English and others are written in Russian.
- US-player restrictions – An earlier advantage points out to the fact that a growing number of casinos are accepting the service across all transaction types. However, when it comes to US online casino operators, their legal regulative prevents them from offering WebMoney cashouts.
WebMoney Payment Method Fees and Facts
1. Does the WebMoney service offer any customer support where I can address my issues and inquiries?
Yes, it does. Users can address a highly equipped team of representatives for all kinds of issues – finances, technicalities and the likes. They are available through respective phone numbers or email contact channels.
2. Can I use WebMoney as an online casino payment method at mobile gambling sites?
Yes, players enjoying mobile online casino gameplay should be able to use WebMoney to fund their specific form of entertainment.
3. What are the specific amounts of the fees charged by the WebMoney e-wallet service?
Apart from the standard mentioned 0.8% fee, funding your WebMoney e-wallet using your bank card will charge you 2.5%, and a 1.5% fee for bank wiring. Alternatively, players can incur a fee ranging between 2 and 10% for using cash terminals, and a fee 0-4% for using the WebMoney exchange services
4. Can anyone fund their respective WebMoney e-wallet from a cash-in land-based location?
No, only users from Russia or specific countries where the service has officially established land-based agencies will be able to use the cash-in terminal option when funding their e-wallet.
5. Where can I enjoy WebMoney online casino gameplay action?
Online casino players can enjoy WebMoney gameplay at any of the top platforms listed on this page. They provide their player pool with such top banking options, a range of bonuses and promotions, as well as game titles from the top software providers in the iGaming industry.