Published on 13 May 2014 by Sebas
This is an article about “seconds” because Giropay is not only the second-last recently to our guide added payment service review we want to introduce to our readers, it’s also the second largest Germany based online payment provider. Giropay comes second after the equally German based Sofort Überweisung service, of which the review was also added recently to our guide and which serves customers in 11 European countries. Sofort Überweisung effectuates about 2 million online money transactions per month, while Giropay (only active in Germany and Austria) carries out about 1 million transactions per month.
The Giropay service uses direct online banking to make payments on the internet possible for customers with bank accounts at some 1500 banks in Germany and Austria. As such it has about 17 million (potential) clients.
When wanting to make an online payment at a web-shop using Giropay the customer needs to opt for Giropay at the payment page of the web-shop website. Subsequently the customer chooses his or her own bank after which he (or she) is re-directed to the website of this bank of choice. After the login into the account the customer provides his or her bank account number and PIN-code after which a Transaction Authentication Number (TAN) is issued by the bank. The TAN is then entered by the customer to confirm the transaction; the bank will pay the recipient and will send a confirmation of the payment to both the customer as well as the recipient.
Online payments made with Giropay are anonymous, instant and, by the two-layered security measure of the customer’s bank account number with PIN-code and the TAN, completely safe and secured. Another advantage is that the customer doesn’t need to subscribe to another, third-party, service as the own trusted internet banking account is used to make the payment or deposit (while Giropay takes care of the rest).
The biggest disadvantage of using Giropay for online payments and deposits in online casinos is perhaps that a (small) fee is charged for the service. These fees differ from bank to bank but usually a customer needs to pay between 0,9% and 1,2% for the service, besides € 0,08 per transaction.
Because of the many advantages of payments made with the Giropay service it could be certainly worthwhile for online casino gaming players from Germany and Austria to further look into this online payments method, especially because Giropay also allows players to make withdrawals using the system. More information about Giropay can be obtained from page in our guide dedicated to the service. And while you’re there you can also check out the list of Netent Casinos that accept deposits and withdrawals made with Giropay.