Trustly is a payment method that is not only accepted at White Hat Gaming casinos, but at nearly 300 online casinos around the world, which is a testament to the trustworthiness of the company.
Trust is important for any payment method, but when you put it in your name, that expectation may well be just that little bit higher.
So, can Trustly live up to the boast that is intimated by its name?
The History of Trustly
Trustly is a Swedish FinTech company (which feels like a confusing contradiction, but isn’t) that was launched in 2008. Starting life as Instant Bank, and only offering their services to iGaming customers in Sweden, the company has grown (as well as rebranded) to being one of the most respected and trusted payment methods in Europe. With offices in Barcelona, Cologne, and Lisbon, and winning numerous awards for fastest growing Swedish company (they reached one million transactions in just two years, and now complete over two million per month less than a decade later), Trustly has proven itself as a strong contender for the top spot in a very competitive part of the iGaming industry. The purpose of Trustly is to transfer money into your online casino account, or withdraw winnings from it. In this way it acts as an eWallet, or debit or credit card, but does so without the use of a middleman, as Trustly functions as a financial institution and is regulated by the FSA in Sweden, like any bank in the country would be. At this point, over 21 territories support Trustly payments, and it’s safe to assume that this number will only grow going forward.
How it Works
Unlike eWallets, which require you to deposit money into the wallet that you then use to make payments at online casinos, Trustly is a very simple and straightforward method of payment. All you need to do is sign up for an account at your chosen White Hat Gaming casino, go to the deposit section, and pick Trustly as your payment method. Here, you just input your Trustly ID code number and your one time code, then enter your account details, and provide the second one off code you are provided with, and your money will be deposited into the account. This works with all major UK Banks.
Withdrawing winnings from your casino account is done in the same way, and both methods are completely free. The time it takes the money to reach your online casino account (or your bank account when making a withdrawal) can differ, as banks that are not part of the Trustly network may take up to three days to process transactions. A new deal between Trustly and Collector Bank may speed up this process too, with the deal looking to offer instant payments across the Nordics, which will take away one of the few downsides to making payments through Trustly.
Why Should I Use Trustly?
Not only is Trustly a safe and easy payment method, it also allows players from over 20 European countries to make payments in their local currency.
As with many other online payment methods, Trustly has also introduced a card. This direct debit card can be used to make payments to online casinos if you choose to spend a specific amount every month. Along with limiting your deposit maximum at your favourite casino, this can help ensure you keep a firm control of how much you are spending.
Another perk of Trustly is that it is free of any additional costs, which is not always the case with eWallets, so you won’t be surprised by any unexpected (and unwanted) fees being added to your deposits or withdrawals at online casinos.
Putting the Trust in Trustly
The rapid growth of Trustly despite the high number of competitors when it comes to online payment methods is a testament to how trustworthy the service is.
Working similarly to other online transfer methods such as TransferWise, Trustly provides a way to maintain complete control over your deposits and withdrawals, without your money having to pass through a middleman like an eWallet before it gets to you.
The delay in payments, especially outside the Nordic countries, is a definite downside, and those looking to make instant payments to or from their casino accounts may want to consider other options.
However, if you’re happy to wait a little while, then you will struggle to find a payment method that is as easy to use and as trustworthy as Trustly.