Giropay Casinos Germany

About Giropay

Right off the bat, Giropay is a widely accepted online payment processor. It has been in operation since 2005. Over the years, it has succeeded in a number of sectors, especially in iGaming.

Giropay is meant for hassle-free online transactions. Its headquarters are located in Frankfurt, Germany.

The payment solution was created through a consortium of various leading German banks. The banks include

• German Savings Bank Group,
• German Cooperative Financial Services Network,
• Postbank – a branch of Deutsche Bank.

It was this collaborative effort that made Giropay become a leading fintech brand in Germany.
Of course, bank partnerships are quite common these days. However, things were a lot different when Giropay was created.

Notably, not many banks were ready to go the online way. This is because their users were unwilling to use the Internet for banking purposes.

At the time, the growth of online payment services was affected by companies that opted to share customers’ details. The security protocols could not keep cyber attacks at bay.

Giropay creators noticed this problem early enough. Consequently, they put together important measures in readiness for modern-day online gambling and e-commerce.

The emergence of iGaming and e-commerce brought about the need for online payment services.

As of 2008, Giropay was processing more than 3 million transactions per month. Since then, the number of processed transactions has doubled.

Giropay Transaction Charges in Germany

Ultimately, payment facilitator companies work to earn some profit. As a result, so many will charge their customers some management fees to effectively provide services. Notably, quite a number will charge you some fees in a way that you wouldn’t easily notice.

For Giropay, you will incur between 0.9% and 1.2% fees on online purchases and casino deposits. However, you only pay a fee of 0.9% on payment requests and invoices.

Giropay provides an ideal way of topping up casino accounts speedily. However, the fees incurred fluctuate inversely to the amount you are depositing. Meaning that you will incur lesser fees on large deposits.

Giropay tends to cater greatly to high-rollers, for some reason. Therefore, high-rollers are charged lesser fees every time they deposit to their casino accounts. In spite of that, the fees incurred are negligible considering the quality of services that you get in return.

Additionally, Giropay lets you request payments if you sell services over the internet. This service normally attracts admin fees. Giropay deducts the fees automatically after the payment is processed.

It’s worth mentioning that the payment option does not offer e-wallet services. Therefore, you cannot use it to store funds. Giropay merely fuels payments between your bank account and merchants or casinos.

Remember that Giropay only imposes transaction fees based on your chosen bank’s policies. Notably, financial institutions must impose fees based on their online banking terms.

Having said that, always make sure you have sufficient funds in your bank account to cover Giropay and bank fees. This is because most casinos in Germany won’t charge you for making Giropay deposits.

Trustly

This payment gateway has a long history of facilitating online payments. For this reason, it has carved a niche as a global brand. Trustly first burst up on the online scene in 2008 and is owned by the Trustly Group AB.

The fintech company is licensed in several jurisdictions, including Germany. As such, you can be sure of its legitimacy.

Thanks to its fast speed of processing transactions, Trustly has become so popular. Today, it processes more than 9 million daily transactions.

Its prominence in iGaming is because it is available for both deposits and withdrawals. The best part is that these functions are expedited for smooth gameplay.

In fact, the main reason for the creation of Trustly was online gambling. Nowadays, it is also used in other industries.

Summary

Currently, Giropay is only available in two German-speaking countries. These are Austria and Germany. As such, players outside these two jurisdictions cannot access the services.

For the most part, even the reviews that you’ll find online will be in German. However, English speakers in these two countries can toggle between German and English.

Having said that, Giropay is quite a unique processor for online payments. With it, you will fuel transactions between you and online casinos and merchants.

Giropay is a widely accepted banking solution. This is attributed to the fact that it does not involve lengthy sign-up processes for customers and merchants. All you have to do to be eligible is to open a German bank account.

Giropay easily expanded its operations thanks to the bilateral relationship between Austria and Germany. Currently, the fintech company is in consortium with over 1500 financial institutions for much-needed convenience.

The banking option has security protocols to protect all transactions. It employs the latest SSL encryption technology that prevents access by third parties.

Note that Giropay only supports EUR currency. This way, you won’t incur currency conversion fees when topping up your German bank account. However, you will incur exchange fees at casinos that don’t support EUR.

Another major drawback worth mentioning is that Giropay does not offer live chat services. That way, you won’t get real-time help which is always prompt and amicable.

Over the years, German gamblers have trusted Giropay with their funds. Thanks to its speed of processing transactions, it is set to scale to newer heights. Therefore, there’s nothing stopping you as a German player from using it for your casino endeavors.