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Top 3 Casinos that offer Yandex / Yoo Money:
Existing banking and financial institutions were easily able to adjust to the new and revolutionary inventions, the connectivity of the Internet and all the advantages that came along with it. This further supported the development of all kinds of e-commerce platforms, online retailers and merchants of all other formats.
With such a massive expansion...
...in a short time span, interested parties from individual regions had to act promptly and provide sustainable solutions for their portions of the user pool. As a result, online payment services started getting more dedicated, with separate countries using their own banking methods instead of global ones in order to achieve better user satisfaction.
In this line of thought,...
... the Russian online marketplace has been in need of secure and sustainable payment solution. Yandex.Money is definitely one of the top suited methods, applicable for various purposes.
Yandex is the equivalent to Russian Google, the top search engine solution for Russia, as well as Belarus, Ukraine, Turkey and Kazakhstan, as well as several other neighbouring countries. Established in Moscow back in 1997, the company has since managed to cover two-thirds of its home market. With about 150 million search hits per day, the Yandex search engine solution has affirmed its stability and potential for progress in other spheres.
... the company launched their online payment processing solution, Yandex.Money. It was initially released as the optimal payment option for individuals and businesses wishing to transfer money, settle payments or set up balances based on their needs. The Yandex.Money e-wallet product is a joint venture, with 75% of it owned by Sberbank. Considering it is one of the largest banking institutions in Eastern Europe, and the leader in Russia, there is firm support regarding the reliability of the online payment service.
What is more,...
... for a business-to-business optimized solution, the company has further released Yandex.Checkout. This is, in fact, the underlying payment processing channel partnered with over 76,000 merchants including retailers, online gambling platforms and the likes.
On the whole, these are the two main payment solutions issued as part of this venture, but there are additional ones to further facilitate users’ finance management. So far, the service has managed to build a network of over 30 million e-wallets, and over 90% of the Russian population are said to be familiar with it, at the least.
As mentioned earlier, Yandex.Money is the specific online payment service used at online gambling sites – poker rooms, casinos and the likes, as well as e-commerce platforms. It is formally known as an e-wallet, allowing users to sign up for an account and transfer as well as manage their funds from there.
Yandex.Money accounts can have three different statuses – anonymous, identified and reviewed, with each distinguished by a separate set of features and limits.
The first, anonymous status...
...is generically attributed to each e-wallet account upon registration, and thus covers only the most basic capabilities of the service. Whilst in this account status, the user has not provided proper identification info, and can only use the e-wallet account for payments up to a maximum of 15,000 Rubles. Withdrawals are limited at 5,000 Rubles, but without the option to transfer funds. Ultimately, anonymous e-wallet status limits users to 15,000 Rubles maximum amount they can hold in their account.
Once the user...
... provides their passport information, the e-wallet account status changes to identified. As such, users can make payments of up to 250,000 Rubles per transaction, and withdrawals of up to 100,000 Rubles, with the ability to keep up to 500,000 Rubles as their wallet balance. Identified e-wallet users can additionally transfer their funds to various cashout options, from cards, through money transfer services to other online payment solutions.
The third, reviewed status...
... is a type of e-wallet account solely available to users residents of Russia. It is mainly distinguished by the added features in terms of funds transfer options, as well as the limits mentioned beforehand.
How to Set up a Yandex.Money E-wallet Account?
The Yandex payment processing service can be used in the broader sense, directly through the Yandex.Checkout gateway. All you need to do is make sure your specific online retailer or other platform have included it in their list of banking options.
... it is still advisable to equip yourself with a dedicated Yandex.Money e-wallet account, as the payment service provides wide transaction opportunities.
Step 1: If you have already used any of the other Yandex services, part of the more massive search engine establishment, then all you have to do is log in using your existing credentials. Otherwise, novices to the service are advised to direct themselves to the Yandex official website, and choose the option to ‘Start a new e-wallet’.
Step 2: Upon registration, users will be required to create a new set of credentials – username and password. What is more, they will be obliged to enter their mobile phone number in order to receive confirmation texts for each transaction. This contributes towards dual-factor authentication, so that anyone wishing to misuse your funds will need to obtain both your password and your mobile device.
Step 3: Considering you have created your e-wallet, you can add the remaining information now or after funding it with a real money deposit. This can be done in a number of ways, mainly depending on the user’s country of residence.
- How to fund my Yandex.Money e-wallet?
Topping up your e-wallet can be done via the standard bank card option – MasterCard, Maestro or Visa. A restriction in this regard is the fact that the actual card will need to be issued in one of the following countries: Russia, Ukraine, Azerbaijan, Turkey, Estonia, Armenia, Moldova, Georgia, Uzbekistan, Kazakhstan, Belarus, Latvia, Lithuania, Tajikistan and Turkmenistan.
Other than this, users can fund their e-wallet through an ATM or the many land-based kiosks across Russia, as well as several money transfer offices. Online banking is also available through the Sberbank and Alfa-Click online services.
Alternatively, users can fund their account by billing the expense on their phone carrier, or simply transfer funds from other online payment solutions. If you hold an account with Qiwi or WebMoney, you should be able to directly deposit funds to the e-wallet.
On a final note, peer-to-peer funds transfer can also be a way to fund your account. However, bear in mind that the transaction from another Yandex.Money e-wallet to yours will be subject to a commission.
Additional Yandex.Money Products
Aside from the e-wallet solution, Yandex.Money users are additionally able to get a Plastic Yandex.Money Card, associated with MasterCard. This payment option can be used at any land-based, offline location that accepts MasterCard payments, and its users are further eligible to benefit from all the regular MasterCard rewards and bonus points. Like any other card, it can also be used to withdraw cash directly from ATMs, especially Sberbank’s.
For online payments,...
... there is the Virtual Yandex.Money Card which is normally accepted at retailers that don’t accept the actual e-wallet. This virtual card functions like a regular one, with a card number, CVC code and expiration date, which you will receive via SMS or email. Additionally, you will receive one-time passwords through confirmation texts for each transaction, as another security measure.
Yandex.Money as an Online Casino Payment Method
The Yandex.Money e-wallet, with its established widespread network, has found massive application on numerous e-commerce platforms. Russian, as well as international wallet holders use it to pay fees, utility bills, do online shopping, purchase gift cards and fund their mobile credit. Nonetheless, online gambling platforms have definitely benefited the most from the features of this service.
Yandex.Money Deposits at Online Casino Sites
Step 1: The first thing to do when engaging in online gambling funded by the Yandex.Money e-wallet is to find a suitable casino that offers it as a banking method. The top Russian online casino sites tend to include Yandex.Money as one of their preferred payment processors, although recently, interested players should also be able to choose from a range of international platforms.
Step 2: Choose this e-wallet from the Banking/Cashier section at your selected casino destination. This will immediately transfer you to the e-wallet’s online payment gateway, where you can choose to proceed through the Yandex.Checkout option or the e-wallet account. If you go with the former, all you will have to do is input your MasterCard, Maestro or Visa card details, specify the deposit amount and confirm the transaction. Otherwise, in the latter occasion, players will be required to log into their existing e-wallet account, fund it according to the above-illustrated range of methods and denote the specific amount.
Step 3: Once you have confirmed the funds transfer using the SMS password, the funds should be immediately available on your online casino player account. All you need to do now is choose your favourite title from the top software providers featured on the platform and start gambling.
Yandex.Money Withdrawals at Online Casino Sites
When it comes to online gambling, the whole endeavour ultimately comes down to the entertainment it provides and the profit it brings. In order to make use of the second benefit, players need to make sure that the casino offers a suitable range of withdrawal banking methods.
Yandex.Money is less commonly found as a withdrawal method at online casino sites, although the number is increasing by the day. For those players that are able to make withdrawals to their Yandex e-wallet, the procedure is much the same as deposits, only in the opposite direction. Players will only need to specify the funds amount and confirm the transaction. Later, they can cash out the funds through a card transfer, directly from the ATMs or money transfer services, or by a direct bank wire through their account.
Advantages of Using Yandex.Money as an Online Casino Payment Method
Security – The Yandex search engine company has been operating successfully for over two decades. Its reputation is widespread across Russia and neighbouring countries which use Yandex.Money e-wallet services. What is more, its dominant ownership by Sberbank further speaks to the service’s reliability. And with the implemented encryption protocol, user funds and information are practically safe and sealed.
Transaction speed – As with most top-notch e-wallet services, the speed of all transactions is practically instant. Funding your e-wallet may take a few minutes depending on your specific method of choice. Nevertheless, you should be able to see the funds in your online casino balance as soon as the transfer is confirmed and verified.
Online gambling legality – Yandex.Money is particularly suitable for online gambling purposes, which is yet to be properly resolved by Russian authorities. Thus, online casino players benefit greatly from having such a digital e-wallet solution that does not share any of their banking information with the respective gambling operators.
Additional services– Aside from the regular payment transfer services, Yandex.Money features additional services for individual users. For one, they can use it to accept payments from other individuals, as a direct funds transfer, a payment for a particular service. This is most useful for bloggers and other online service providers. Secondly, there is a different feature that allows a particular Yandex e-wallet holder to set up a fundraiser, where anyone with a wallet will be able to deposit funds through the page Yasobe.ru. They can even make an investment plan through this service, with a range of models provided on the website. Legal entities can also benefit from the service’s extra features, as they are given the option to perform billing operations by consolidating transactions from the e-wallet and cards.
Disadvantages of Using Yandex.Money as an Online Casino Payment Method
Fee charges – A major disadvantage is the fact that Yandex.Money isn’t a free-of-charge service. The specific amounts charged vary depending on the funding method of choice – hence, if you chose direct billing through your phone provider, the fee would depend on the phone company. A 3% commission is also charged for wallet funding through Qiwi and WebMoney, but the other funding options come free of charge.
The situation is more or less the same with withdrawals – ATM cashouts within the 10,000 Rubles limit are free, while all others are subject to a 3% fee capped at 100 Rubles. As for bank card transfers, withdrawals made through a Yandex.Money account are subject to a 1.5% fee (minimum 35 Rubles), while those made without an account – 1.95% fee (minimum 40 Rubles).
Country restrictions – While the fee issue is considered to be much more troublesome, ineligible players have also complained of the country restrictions. While the service is quickly expanding and seems to be available across the greater portion of Eastern Europe, there are still many portions of the player pool unable to use it as a banking method.
Yandex / Yoo Money Casinos (11) Yandex / Yoo Money is restricted for Virginia
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Can players from the USA use Yandex.Money as an online casino banking method?
No, players at USA online casino platforms will need to seek out a different banking method for their online gambling ventures.
What are the most suitable alternatives to Yandex.Money e-wallet?
Taking into account the fact that it is an e-wallet, the Yandex.Money’s most suitable alternatives would be similar solutions such as Neteller and Skrill.
Does the Yandex.Money e-wallet service provide customer support to its users?
The Yandex.Money user community has constant customer support via phone line and email contact channels, as well as a fully packed FAQ Help section.
Is the official Yandex.Money site available in languages other than Russian?
Yes, the official website’s content is available in both Russian and English versions.
Can I use this e-wallet through an inherent mobile app?
Yes, the e-wallet comes with a suitable app for Android users, iOS users, and players opting for a Windows Phone when accessing their chosen mobile casino destinations.