Instant Bank Transfer
Instant Bank Transfer (IBT) is a real-time payment process that instantly facilitates account-to-account transfers. Instant Bank Transfer allows customers to instantly pay for goods and services, including gaming, using their Bank ID. Transactions carried out via Instant Bank Transfer are checked to ensure the availability of funds before completing the transfer. Deposits and withdrawals using Instant Bank Transfers are usually processed in seconds.
A wide variety of payment processors offer Instant Bank Transfer services. TrueLayer, Trustly, Brite, SafeCharge, PayPal and Citizen are some of the Fintech companies that build or offer payment products using Instant Bank Transfers on the Open Banking framework. When making transactions via Instant Bank Transfer, you will be asked to select your bank before being given secure, limited access to confirm the payment.
The process is carried out by way of notification through your chosen bank’s API (Application Programming Interface), which means no information is seen by the merchant, in this case, the online casino. Your approval expedites the immediate settlement of funds between accounts. Payments cannot be taken without your authorisation, and when complete, communication with your bank’s API is closed.
When using Instant Bank Transfer for the very first time with a casino, as an extra layer of security, you will be asked to confirm the purchase via your online banking app to authenticate the payment and authorise the relationship. Instant Bank Transfers thereafter will be carried out with your authorisation at the checkout, with no need to repeat the first step, making deposits and withdrawals quicker.
In short, a casino with Instant Bank Transfer allows for instant transfers via open banking. Online casinos are often measured on payment speed, and Instant Bank Transfers offer lightning-fast withdrawals once the casino gives the green light. Safe, secure, and built with watertight financial security, an Instant Bank Transfer is the method of transferring funds between accounts immediately, in real-time, and the number one service for fast-paying casinos.