Trustly Casinos
Trustly is one of the newer payment methods to spring up in the online casino world, at least in comparison to its counterparts. The Swedish fintech business is small in stature compared to its counterparts but is rapidly growing year on year, especially in the Scandinavian online casino gambling world, where it is seen by many as the default payment method of choice. For instance, Trustly generated over $150 million in revenue in 2019, which was a 58% rise from the year before.
Trustly can process payments in just a handful of currencies. The Swedish kronor, euro and British pounds sterling are the currencies of choice. However, recent expansion into Canada and Australia in 2020 now seems Trustly accept Australian and Canadian dollars to boot. The payment method does not currently accept cryptocurrencies. Trustly is also used to process payments via plenty of other financial institutions. For instance, PayPal is now affiliated with the service. Read More
This method of permitting players to deposit at online casinos without the need for disclosing sensitive information is what has made Trustly a world-renowned option and hugely popular at online casinos. Moreover, in countries in Scandinavia, it is deemed so secure that many sites only accept payments and deposits made using Trustly.
About Trustly
Trustly originally went live in 2008, when the Stockholm based company was known as Glue Finance. Initially, Trustly only operated inside Sweden, but massive interest and over a million transactions saw them rapidly expand to Malta a year later. By 2014, Trustly had entered a partnership with PayPal. The payment provider’s Pay N Play system was established and became a benchmark for many others to follow in 2016. This saw Trustly enter the online gambling market, with many casinos eager to take up its offer to process payments.
Additional investors piled on, and in 2018, Nordic Capital bought 70% of the business, valued at roughly €700 million. A merger with PayWithMyBank and further investments with BlackRock in 2020 saw the value of Trustly rise to $2 billion. This facilitated expanding into Canada and Australia, with further expansion across the Asia-Pacific region expected soon.
Trustly is about as secure as payment providers come. It is licensed by the Swedish Financial Supervisory Authority and holds a PSP (European Payment Services Provider) license. The two-step authentication service it uses has become renowned in Scandinavia, with many Swedish licensed online casinos only accepting payments from Trustly. Players in the United Kingdom, Norway, Finland, and other Northern European countries can also expect to use Trustly alongside other deposit options.
How does depositing with Trustly work, though? Let us find out in the next section.
Depositing at a Trustly Casino
One of the most important steps you must take before you can use Trustly is to check whether your bank or financial institution is affiliated with the payment method. Trustly does not have “accounts” and instead uses your bank account details as a means of verifying your identity. However, to do that, you need to have a bank or other banking means that is affiliated with the provider. The Trustly website lists an array of European and worldwide banks with which Trustly is affiliated. If your selected bank does not appear on the list, the odds of you being able to use Trustly are slim.
You are not going to get away from fees when using Trustly. There is a standard 1.5% fee (a minimum of €0.80) when you deposit or purchase something using the payment method. However, if you extensively use Trustly (and we are talking about a large volume of transactions here), you may have the potential to negotiate this fee.
If you are still hazy on how Trustly works and how to deposit at online casinos using it, just follow these short steps below.
- Check Your Bank. Make sure that your bank or financial institution is affiliated with Trustly. If not, you are unlikely to be able to use it. Head to Trustly’s website to see their list of partners. If your bank appears there, you are good to go.
- Choose a Trustly Casino. Only online casinos which accept Trustly are going to work here. The good news is that many top online casinos and gambling sites do accept this option. Moreover, you can find a plethora of top Trustly online casinos right here on our page.
- Deposit with Trustly. Assuming you have an applicable bank account, then head to the cashier page at your online casino of choice and select Trustly as your deposit method. After selecting Trustly as your deposit option and selecting the amount you wish to deposit, you will be taken to a second screen. Here, you can select your bank from those available. You will now be taken to another screen where you can log in to your bank as normal. You will need to confirm the transaction here using whatever method (card reader, codes, SMS, BankID, etc) you usually do to confirm transactions with your bank.
- Start Playing. You should remember that there is a standard 1.5% fee (of at least €0.80) attached to your deposit. The deposit should arrive near enough immediately in your casino account, allowing you to play games in no time at all.
Naturally, the benefit of Trustly is that it allows you to deposit using your bank account at a casino without ever having to hand over your bank account/card details to the site in question. This makes it an incredibly secure option for sceptical online casino players.
Withdrawing at a Trustly Casino
Trustly can also be used to withdraw winnings at many (but not all) online casinos. The process for withdrawing your winnings is much the same as depositing. Trustly will again charge a fee for processing the transfer, but this is typically paid by the online casino, not the player. In most cases, casinos will have negotiated the fee down (as mentioned above), so they will not pass the buck on to you. However, some online casinos will do, and this is not something we approve of. Always check that your chosen gambling site is not charging you a fee for withdrawing using Trustly.
As Trustly is effectively processing a bank transfer, you should not expect to get hold of your winnings instantly. However, withdrawals via Trustly are considerably speedier than with a conventional bank transfer from a gambling site. Expect a delay of 2-3 business days at most, although some Trustly transactions can be processed in a matter of a few hours.
Trustly is not an e-wallet, and you do not have any sort of account with them. Therefore, once the withdrawal request has been approved and the transaction completed, the payment will go directly into your bank account.
To complete a Trustly withdrawal from a casino, follow these short steps:
- Cross the Is and Dot the Ts. Make sure that you have fulfilled all the requirements to permit a withdrawal. This means clearing outstanding wagering requirements and being within the withdrawal limits set by the online casino.
- Complete the KYC Process. Reputable online casinos will want you to prove who you are to avoid money laundering, identity fraud and underage gambling. Complete the KYC process (via customer support) to ensure that this does not hold up your withdrawal.
- Start the Withdrawal. Head over the cashier page and select Trustly. You will be redirected to Trustly’s website, where you can select your bank and account. You can also enter the amount you wish to cash out. Confirm the withdrawal.
- Wait Patiently. Assuming you have cleared any hurdles to withdrawing, your Trustly withdrawal should arrive in your bank account within a few days. Again, you may want to double-check any fees to ensure that the online casino is not passing the buck on to you.
The Pros and Cons of Using Trustly As a Payment Method
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Great layers of security to protect you
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Commonly accept at Scandinavian and UK casinos
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Deposit without handing over bank account/card details to a casino
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Licensed and regulated in Europe
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No sign-up or registration process
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Standard 1.5% fee with every deposit
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Some (not many) casinos charge withdrawal fees
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You must have an account with an affiliated bank
Trustly Casino Bonuses
Trustly online casinos are not as famous as other casinos for offering bonuses and promotions. There is a good reason for this. Many of the top online gambling sites which accept Trustly are based in Scandinavia (specifically Sweden) and the United Kingdom. Both regions’ licensing authorities have exceptionally strict rules about the advertising and promoting of online gambling.
Because of this, you are not likely to find a wealth of casino bonuses when you play at a Trustly specific online casino. However, there are many online casinos out there that accept Trustly alongside many other payment options, and these are likely to be more generous when it comes to bonuses. At those sites, you can expect to see welcome bonuses, reload/fund bonuses, free spins, monthly specials, and loyalty offers, amongst others.
Trustly Casino Games
Trustly casinos feature the same complement of casino games as any other sites. Moreover, Trustly allows you to deposit considerably sizable sums of cash, making the payment method ideal for any player who wants to play highly volatile or high roller titles. You should expect to see the following games offered at a typical Trustly casino site.
- Slots. Most Trustly online casinos feature slot games from the absolute best developers in the business. It is not uncommon to see NetEnt, Microgaming, Pragmatic Play, and Yggdrasil developed games at these top sites.
- Table games. Some table games have high stakes rules, and for any player who fancies ploughing their cash into high-roller blackjack, baccarat, roulette, or table poker games, Trustly could be the ideal option.
- Live Dealer Games. The same is true of live dealer games, where Trustly can allow players to fund vast sums to play the most lucrative and extravagant table games over a video stream.
- Video Poker. Video poker seldom cost very much, but Trustly also permits small deposits. Moreover, a good array of video poker games regularly appears at Trustly casinos, so they, too, are a gaming option you may wish to consider.
FAQS
Depositing with Trustly is a piece of cake if you have followed our guide. However, if you still have a question or two about the Scandinavian casino payment provider, then do not hesitate to read our brief FAQ guide below for more information.
