Abaqoos

Website: www.abaqoos.com

Type of payment: Virtual wallet

What is Abaqoos?

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:

  • Budapest Bank
  • CIB Bank
  • Erste Bank
  • KH Bank
  • MKB Bank
  • OTP Bank
  • Raiffeisen Bank
  • Unicredit Bank

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:

  • By making a cash deposit at one of the 8 associated banks (plus the Hungarian Post Office);
  • By making an online bank transfer from the customer’s bank account (at one of the associated banks) to the customer’s Abaqoos voucher account.

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:

  1. Select Abaqoos on the payment page of a website
  2. You’ll be redirected to the Abaqoos website
  3. Log in with your username and password
  4. Check the details and confirm the payment
  5. You’ll be redirected back to the merchant’s website

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.

Paying with Abaqoos in an online casino

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.

Withdrawing with Abaqoos in an online casino

As far as we could check most online casinos don’t allow withdrawing funds from the casino account using Abaqoos.

Advantages of using Abaqoos

There are obviously various advantages of using the Abaqoos sytem:

  • First of all are Abaqoos payments very safe as no personal or banking data is shared with the recipient of the payment;
  • Secondly, the Abaqoos payments are completed within seconds and the deposit is immediately available on the casino account;
  • Thirdly, Abaqoos services are completely free for the end-user and no fee whatsoever is charged;
  • Last but not least the possibility to pay with cash for an online casino deposit could come in very handy for many players and the system lends itself perfect for ‘responsible gaming’.

Disadvantages of using Abaqoos

The biggest disadvantages of Abaqoos as an online casino payment method are:

  • Practically only available for residents of Hungary;
  • No possibility to make withdrawals;
  • Apparently only accepted as online payment option by online gaming websites and 1 other website.

Where to pay with Abaqoos?

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.