eNETS is an online payment service launched in 2001 and owned by the Singapore based company Network for Electronic Transfers Pte Ltd. As a service stemming from NETS (the Singapore scheme to optimize electronic money transfers as established in 1985) the eNETS system is only available for customers residing in the South-East Asian city state of Singapore. The service allegedly processes over S$ 1.3 billion worth of money transactions per year, making it the most widely used online payment system on Singapore Island. Read everything about eNETS below.
Type of payment: Online banking
The internet payment solution eNETS provides basically consists of an online banking service by which clients of almost all major Singapore banks can use their internet banking account to make an online payment. On top of this the platform also allows customers to make a payment through the service with their credit- or debit card (Visa, MasterCard, American Express etc.). However, also the specific credit- or debit card needs to be connected to a Singapore bank account and thus has to be issued by a Singapore bank. eNETS payments can only be made in the Singapore Dollar currency.
Making an eNETS payment on the internet is done by the following procedure:
Nowadays it’s possible to make eNETS payments from a mobile device such as a tablet, smartphone or iPhone. However, the availability of mobile banking with eNETS depends on the bank the depositor is using to make the eNETS payment.
Transactions made with eNETS are carried out instantly, according to the highest standards regarding (online) banking security and, as eNETS shields the personal data of the payee from the recipient, completely anonymous. Furthermore, eNETS payments are free from any service fees charged, however, it depends on the policy of the specific bank if a fee is charged for the use of their internet banking system.
Paying with eNETS in an online casino basically follows the same procedure as explained above.
After opening the cashier page of the online casino the depositor needs to choose directly for the eNETS deposit option or find this option under “Instant banking”. The depositor enters the amount of money to be deposited, chooses the proper bank to use and subsequently transfers the funds by eNETS from the own bank account to the casino account.
The transferred funds will be immediately visible on the account and available to play with.
It is not possible to withdraw funds from your casino account and transfer them to your normal bank account with eNETS. If a deposit was made by eNETS on the casino account another option needs to be chosen to withdraw funds from it.
There are several advantages of using eNETS as the preferred banking option in online casinos:
Some disadvantages of the use of eNETS as an online casino payment option are:
As eNETS is an online casino payment method that’s only available for players that have a bank account at one of the connected Singapore banks the payment options can primarily be found at casinos that cater Singapore players too. Have a look at the side-bar of this page to find out which Netent Casinos allow eNETS deposits.
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