Abaqoos is a Hungarian online payment system based on ‘vouchers’ and, in its functioning, very similar to an e-wallet. The system is owned by the Budapest based E Group, an IT and financial services providing company with Hungary as its main market but also active in Europe ‘cross-border’ and internationally (the US and Asia). Especially for online casino players residing in Hungary the Abaqoos payment system could be the perfect online banking solution to manage their casino deposits and withdrawals.
Type of payment: Virtual wallet
Although very comparable to an e-wallet Abaqoos itself uses the term ‘voucher’ to describe its main product, also to make the distinction between the Abaqoos Voucher and the Abaqoos E-Wallet (the latter only available for customers who have a bank account at OTP Bank with a OTPdirekt bank account variation).
This stated, the second specific feature of Abaqoos is the group of 8 Hungarian banks associated to the system, and of which the customers can use the Abaqoos system to organize online money transactions. These connected banks are:
To be able to use Abaqoos customers need to sign up (for free) to the system on the Abaqoos website. As part of the sign up procedure the customer needs to choose which purpose the account will serve as allegedly (according to their own website) Abaqoos is only accepted by online gaming websites and by the Hungarian cultural events tickets selling website Jegymester. If chosen for the online gaming sites the voucher can ONLY be used for that purpose and if chosen for Jegymester the voucher can only be used on their website.
By registering the customer will receive a unique ‘voucher’ (virtual account) with an Abaqoos username and password. Subsequently the Abaqoos account needs to be uploaded with funds which can be done in 2 ways:
When making a cash deposit a customer simply enters a bank or the post office and uses the Abaqoos username to make a deposit on a Abaqoos account. The username identifies the depositor and the account Abaqoos subsequently needs to credit after receiving the payment.
When making a bank transfer a customer needs to use the internet banking application of his or her own bank to transfer funds to the Abaqoos voucher.
In both cases (by cash and by bank transfer) it’s wise for customers to use the Abaqoos bank account that is at the same bank their bank account is at or at the bank they want o make the cash deposit in to avoid any transaction delays. Abaqoos has accounts with all 9 mentioned financial institutions and normally a cash deposit is credited within 5 minutes while the processing time of a bank transfer deposit depends on the banks used and time of deposit. It’s not possible to fund the Abaqoos voucher by means of a credit card, but transactions from (and to) a Neteller account seems to be accepted.
Once having opened an Abaqoos voucher and having funded it with money ultimately making an online payment is very easy:
An Abaqoos online payment is completely anonymous, instant and carried out according to the highest security standards regarding online money transfers. On top of this, Abaqoos services are completely free of charges as neither for uploading, paying, receiving or withdrawing needs to be paid.
As stated Abaqoos is specialized in providing online casinos with an online casino banking solution for their players. Those players holding an Abaqoos voucher account simply need to opt for Abaqoos as the desired payment option, provide the amount to be deposited, log in onto the Abaqoos account and confirm the payment. The money will be instantly credited.
As far as we could check most online casinos don’t allow withdrawing funds from the casino account using Abaqoos.
There are obviously various advantages of using the Abaqoos sytem:
The biggest disadvantages of Abaqoos as an online casino payment method are:
Understandably the online casinos that count players from Hungary to their clients will have Abaqoos as a legitimate payment option on the casino deposit page of their website. Have a look on the side bar of this website to see which Netent Casinos have too.
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