iDEAL is a Dutch online payment option that was launched in 2005. It is an aggregate of agreements between banks and online merchants, including online casinos. Based on this an interface is created between online casino and player’s bank that facilitates the transfer of funds without any intermediate instrument like credit card or electronic wallet. iDEAL is owned by the Dutch organization Currence. Twelve leading Dutch banks participate in iDEAL. Over 50% of Dutch online payments are done through this option, which is more than the credit card usage. In terms of numbers, the transactions have increases from 4.5 million in 2006 to 222 million in 2015.
- iDEAL is a Dutch online payment option that includes almost all Dutch banks and therefore ideal for players at Dutch online casinos.
- You do not need to register with iDEAL or any third party in order to deposit at online casinos using this option. You only need a bank account with Internet banking facility.
- When you deposit with iDEAL funds are instantly credited to your online casino account in a transparent manner, so you can start wagering at once.
- iDEAL cannot be used to withdraw your online casino winnings to your bank account. You will receive the payment by check.
How to use iDEAL at online casinos
As an online casino player you are not required to sign up with iDEAL. The only requirement is that your online casino and your bank are participants in the iDEAL system. All our recommended online casinos accept iDEAL as a payment option. Almost all Dutch banks make payments through iDEAL. However, it would be prudent to check this out before signing up at an online casino. The banking section of the web site of the online casino would indicate whether iDEAL is accepted or you can check with the customer support. The web site of iDEAL lists the names of the participating banks or you can check with your bank. You will need to have Internet banking facility. If you do not have this facility, it can be easily arranged by your bank. Once you are sure of the applicability of iDEAL, you can register at the online casino selecting iDEAL as the banking option.
You can immediately commence making deposits at the online casino. You will have to log in as usual and go to the cashier section. There you select the Deposit option. From the list of payment options displayed, choose iDEAL. You will find a list of participating banks from which you choose the one you are banking with. You will be taken to the bank’s portal in a secure manner, where you log in and enter your account number and the amount to be deposited. As an added safety measure you will need to sign the transaction digitally as you do for regular Internet banking. Your bank will authorize the transaction in real time, deducting the amount directly from your account. The online casino will immediately receive the funds. You will be redirected back to the online casino with a confirmation that the payment has been successful.
iDEAL works only in one direction. It does not allow account holders to receive funds into their accounts. So you cannot withdraw your winnings from the online casino using iDEAL. If you have opted for iDEAL as the payment option, you will by default receive your withdrawal by check. This is a time consuming process and you should be prepared for a delay of about two weeks in getting the money in your bank account.
You do not get any credit through iDEAL. If the balance in your account is insufficient to cover the deposit you want to make, the transaction will be rejected. You must also be aware of the minimum and maximum limits on deposits imposed by online casinos and work within those limits.
Advantages of iDEAL
iDEAL is an online payment option originated in the Netherlands and very commonly used. Most Dutch online casino players will be already using it for other online payments. All our recommended online casinos and almost all Dutch banks are linked to iDEAL.
There are no prerequisites to using iDEAL. You do not have to apply for a credit card. You do not have to open an e-wallet account. You do not even have to register with iDEAL. All you need is a bank account.
Transfers using iDEAL are immediate. So you can start wagering as soon as you complete the transaction at the online casino web site. The process works on both desktops and mobile phones, so you can even make deposits while on the move.
The transfer is made from the online portal of your bank. You can be sure that the most stringent security protocols are in place. You enter the bank portal from your online casino. So you can be sure that the money goes to your online casino account.
Disadvantages of iDEAL
The biggest disadvantage of iDEAL is that it is a deposit only option. It cannot be used to withdraw your winnings to your bank account. The online casino will remit your payments by check, which is a time consuming process.
You need Internet banking facility with your bank in order to use iDEAL. Whereas this is not a problem for most online casino players, there are some people who are uncomfortable with operating their accounts online. They may not want to use iDEAL as an online casino payment option.
The credit card payment option allows players to wager with borrowed money. iDEAL does not grant this benefit. You can deposit funds only to the extent of the balance in your account.