Bancontact Mister Cash is a popular and widely used payment method for Belgian residents. Only when you have an account with a Belgian bank and are a Belgian resident you will have the opportunity to make use of Bancontact Mister Cash for making your deposits in an online casino.
Type of payment: Online banking
Bancontact Mister Cash, usually referred to as Bancontact, is a payment system that was introduced by Belgian banks as early as in 1979. Originally it were two separate and non-compatible banking systems (Bancontact and Mister Cash) after which the systems merged during the eighties of last century to become the one single banking method as is known today and owned by the Bancontact Mister Cash Company. In 2006 Bancontact Mister Cash made it possible for its users to also make payments on the internet.
Bancontact Mister Cash can be seen as an online (direct) banking system, with functionalities that refer to the use of a credit card. Up ´til the end of 2014 an e-wallet called “Proton” was attached to the system that was abolished due to decreasing usage of the Proton e-wallet. Proton is replaced by an e-wallet called “Ping-Ping” that makes it possible to make smaller payments by the GSM network.
To make use of Bancontact Mister Cash, you will need a Belgian bank account which means Bancontact Mister Cash is only available for Belgian bank account holders. Bancontact is not used by any other banks than Belgian banks.
Bancontact Mister Cash is a physical card that´s issued by several Belgian banks and other (Belgian) payment service providers and that´s connected to a normal bank account. Owners of the card can use it to make payments in thousands of shops in Belgium as well as in the thousands of web shops (mainly in Belgium and Holland) that accept the card.
As Bancontact Mister Cash is a mix of a normal ATM (credit) card and an internet banking system the payment service has different way of using it.
To pay in a point of sale (a normal shop, that is) with the Bancontact Mister Cash the customer needs to provide his or her PIN-code after which the amount to pay immediately is transferred from the bank account of the customer to the bank account of the recipient.
If a customer wants to make a payment on the internet he or she needs to (after choosing Bancontact Mister Cash as the desired payment method) provide his or her name as is written on the Bancontact Mister Cash card, the card number, the date of expiry of the card and the 3 or 4-digit CVC security code on the back of the card, just like if it were a payment made with a credit card.
However, the difference between making an online payment with a credit card and the Bancontact Mister Cash card is that after entering the mentioned data the customer is redirected to the login page of his or her own bank after which a normal internet banking procedure needs to be carried out to complete the payment.
The internet banking procedure consists of using the customer´s PIN-code and a (digipass) card-reader in combination with a safety code provide by the customer´s bank that needs to be entered in the card-reader. Subsequently the card-reader will provide an unique code (only to be used for that specific payment) that serves as a digital signature to finally confirm and complete the payment.
Provided there´s enough money on the customer´s bank account the payment will be effectuated immediately, the amount to pay will arrive instantly on the bank account of the recipient and the amount is also immediately reduced on the balance of the payer.
Although initially the customer needs to provide both personal as financial data the following internet banking procedure makes it virtually impossible for third parties to commit fraud or misuse of the customer´s bank account. Therefore the use of Bancontact Mister Cash is as safe as a conventional bank transfer and also relatively anonymous.
On the “Payments /Deposit” page of an online casino the depositor needs to opt for the Bancontact Mister Cash deposit method and provide the required data. After doing so the depositor is redirected to the trusted internet banking environment to further carry out the payment as described above.
After completing the deposting procedure instantly the requested amount will appear on the casino account and will be available to play online casino games.
Like with other comparable online payment services (such as iDEAL, Sofort Überweisung and Przelewy24) it´s not possible to make withdrawals from the casino account using Bancontact Mister Cash. To withdraw funds from the account another withdrawal method such as Neteller, Skrill or conventional bank transfer needs to be chosen.
Using Bancontact Mister Cash as a deposit method in online casinos comes with several advantages:
Payments made with Bancontact Mister Cash in an online casino are safe. As the (normal) internet banking account of the depositor is used payments can be considered as safe as a conventional bank transfer;
A deposit made using the Bancontact system is carried out instantly. There´s virtually no delay in completing the depositing procedure and having the funds available on the casino account;
Bancontact Mister Cash deposits are fairly anonymous as in the end the payment is carried out by (encrypted) codes.
Of course the fact Bancontact can only be used by Belgian players is the main disadvantage of this online payment method. And even if you’re from Belgium you need to have a bank account that supports payments with Bancontact on the internet.
Another disadvantage is that only a few of the Netent Casinos accept payments made by Bancontact in their online wagering establishments.
As Bancontact Mister Cash can only be used by Belgium players that have a bank account that allows making payments by using the system there are very few online casinos that allow players to upgrade their casino accounts with the method.
However, it´s not unthinkable in the future more online casinos will integrate Bancontact Mister Cash at their cashier because of the, at this time of writing, developments concerning simplifying cross-border online payments between European Union countries participating in the SEPA (Single Euro Payments Area).
Have a look at the side-bar of this page to see which Netent Casinos currently accept deposits made with Bancontact Mister Cash.
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