The Complete Overview of Giropay Betting Sites
Never let it be said that we don’t go above and beyond to bring you the best advice for online sports gambling. Although not available for UK bank account holders, Brits with German accounts can do so using Giropay. Our comprehensive guide to the best Giropay betting sites will tell you everything you need to know. Is Giropay betting easy to do? Do we recommend you use it? Read on to find out.
As seasoned travellers both for work and pleasure, we fully know and understand the frustration of working abroad and having a payment method that cannot be used with the mainstream online betting companies. As a quarter of a million people born in Germany call the UK home, and an estimated 100,000 expats calling Germany home, something that is accepted in both countries seems like common sense. However, choosing a method just because it’s available has never been our style, and we submit it to the same forensic investigation as we do for all our payment methods. To find out if Giropay betting is for you, read on!
Essential Information for Every Punter Needs to Know
Payment methods, we admit, is not the most exciting of topics and most of us don’t give them a second thought. However, choose the wrong one and not only can it lead to frustration, but it could also cost you money that you may not need to pay. In the next sections, we will check all aspects of Giropay betting, we test transaction speed and let you know if there are any charges. We also examine the security of this payment method and compare it to the alternatives that are out there. You’ll discover if betting sites that accept Giropay are worth using.
Fees and Processing Times
Fees and processing times are a subject that comes up time and time again and with good reason. No-one likes getting charged, especially when we don’t need to, and even small charges can soon add up if several deposits a month are made. Also, do we need to pay? Are there providers who offer a free option? As NetBet is the bookmaker that accepts Giropay in our list of recommended companies, let’s see the transaction times and costs of using this payment method at that company. Here are the results of our research on Giropay at NetBet.
|Operator||Giropay||Processing Time||Limits min/max||Fees|
|NetBet||Immediate||£10 – £4000|
|4 – 12 days*||£10 – No limit||N/A|
Instant deposits are a great feature when using betting sites that accept Giropay. Once you access your NetBet account, click on deposit and select it, enter the amount you wish to deposit and enter your details when requested. Once done, the money is instantly displayed. You can deposit as low as £10, and the maximum amount is £4,000.
*Although we have included withdrawal information, this figure is for bank transfer as withdrawals cannot be made via Giropay, there are other ways you can withdraw funds, but we have found that Giropay customers usually prefer bank transfer. Times for a bank transfer is slower than most methods with a timescale of up to 12 working days quoted at NetBet.
The Pros and Cons of Using This Payment Method
One of the best things about this payment method is the simplicity to use it, being a direct bank e-system, the money comes straight out of your bank account, avoiding the need to have a debit card. Giropay, as you will see in a later section, is incredibly secure and one of the safest ways to fund your online sports betting site. From a cost point of view, it’s free to deposit with neither the payment method or the betting sites that accept Giropay charging to use it. Speed is another benefit with deposits being completed instantly, and the funds should be available within seconds.
One of the most significant drawbacks about using Giropay betting sites is the lack of withdrawal facility when using this method; most people opt for a bank transfer to withdraw winnings, but this can take many days, even weeks during bank holidays as the timescale quoted of 4-12 days is working days. For the average UK punter it will not be a viable option as you need to have a German bank account to use this service.
Depositing Funds with Giropay at Betting Sites
Funding your Giropay gambling sites is relatively easy to do, and although you need to complete two-stages to process your deposit, it shouldn’t take more than a couple of minutes to complete. Simply log-in to your bookmaker as usual and select Giropay in the deposit options and will be re-directed to the site where you’ll need to complete the necessary details. Don’t worry if it sounds complicated; we’ll take you through it in three simple steps.
Step One: Log-in to your Bookmaker
The first step is to log-in to the betting site using your user name and password. If you do not already have an account with an online sports betting site, now would be an excellent time to sign up for one. The one we used for Giropay is NetBet.
You then need to access your account section (or similar) and click on deposit and select it.
Enter the amount you wish to deposit, remember the minimum amount at NetBet is £10, and the maximum is £4,000.
Step Two: Select Your Bank
Once the Giropay deposit option has been selected, you’ll be asked to choose your bank from the list shown.
It can be used for almost all online banking accounts in Germany. If you need confirmation if your bank is accepted, you can contact customer service who will be able to help you. You can do this by phone on 0721 47666 3544, or you can use the contact form on the company’s website.
Step Three: Enter your Online Banking Details
You will now be redirected to your online banking gateway. You need to enter the details that you use for your online banking with that bank.
Enter the amount that you wish to deposit, and if your bank uses multi-factor authentication you will be asked to confirm by signing with a one-time bank security code from your bank. You’ll need to enter this code for the payment to be processed.
You will see on-screen confirmation that the transaction is successful and once you have completed your payment, you will be taken back to the account section on the online betting site.
Can I Withdraw Winnings Through Giropay?
As we discussed in the pros and cons section, while Giropay is excellent for depositing, it is not possible to withdraw any winnings using this payment method. You will need to pick an alternative. Trustly is a very similar service to Giropay, the money comes straight out of your bank account and can be used at online betting sites and can be used by UK bank account holders. A downside of Trustly is that it is accepted at very few sites, you can find out more by reading our review. If you want a wide range of choice of bookmakers you can use, Neteller is widely accepted.
Security of the Payment Method
When using Giropay betting sites, it uses AES 256-bit encryption with TLS 1.2 for the secure transmission of the data; this is one of the highest levels of online security currently available and ensures your transaction is safe from prying eyes. We should also mention that the fact that payments undergo a strict two-factor authentication procedure which means that you will need to confirm your transaction by text or email alert, this ensures there is little chance of anybody else being able to access your feature. As an added level of protection, all Giropay payments are 100% guaranteed up to a £5,000 limit which ensures your bank will always cover you should something go wrong.
A Short History of the Payment Method
|The Company at a Glance|
|Headquarters||60322 Frankfurt, Germany|
|Parent Company||giropay GmbH|
|Regulator||Federal Financial Supervisory Authority|
Giropay allows you to make an online bank transfer which is done instantly, unlike a regular bank transfer which can take days. Giropay was established in early 2006 in Germany and thanks to its availability at most banks; it quickly became popular. Within a year of launch, over €100 million worth of purchases had been made using it. The following year, 3.2 million transactions were made. It is believed that 85% of German consumers have used this payment method to pay for goods online.
How does Giropay Compare to Other Alternatives?
With so many different options available to top up your balance for online sports betting, how does Giropay betting compare against other payment methods? In this section we compare it against possibly the most famous e-wallet, PayPal.
If you are reluctant to share your financial details then Giropay is a better option, at no point are you sharing any details with the provider, nor do you have to give any sensitive information with the Giropay betting sites. This is not the case with PayPal. If you are wanting to take advantage of bookmaker’s welcome offers, using this payment method allows you to do this, some bookmakers exclude PayPal. Speed of deposit using both payment methods is excellent with funds being available to use in a matter of seconds. PayPal, however, is accepted at many more bookmakers and allows you to withdraw winnings direct to your PayPal account.
Conclusion: A Secure Method
As we mentioned in our Trustly review, the first time we used a direct bank e-system payment method with the best betting sites, we were wary. It seemed strange that you would use an external company from your bank but log-in with your online banking details. However, once we tried this method, it was incredibly simple to do. Using Giropay feels very secure as you are not sharing information with the bookmaker and you are in full control of the transaction.
- No personal details shared
- £5,000 protection
- Instant deposit
There are a few things you need to consider when deciding if Giropay is for you, and the first one is, do you have a German bank account? If not, you’ll need to consider alternative methods as you need one to use this form of payment method. Another issue is finding the best Giropay betting sites; this is difficult as so few UK bookmakers accept it; this severely limits your choice and you won’t be elgible for any betting bonuses. However, it is the lack of a withdrawal facility that would be a deal-breaker for us. Neteller would be a good alternative as it allows withdrawals and is accepted at many more bookmakers.
We love hearing your questions, feedback and suggestions for our site, and if you have any questions regarding Giropay, online gambling sites or any sports betting questions then you are welcome to drop us an email at email@example.com.
Does Giropay Store My Financial Details?
Giropay is based on online banking. This means that you do not need to register with personal information or create a user profile. Sensitive and personal information will only be exchanged between you and your bank. No third party gets insight into your account and sales information.