BankID Casinos with Instant Withdrawal (2024)

Bank ID is an electronic identification solution used in several countries, primarily in Scandinavia. It is a digital identification method that allows clients to authenticate themselves and access various online services provided by banks, government agencies, and other organizations.

With Bank ID, users can confirm their identity using their personal identification number (PIN) and a unique code generator or mobile app provided by their respective banks. It enables users to perform a wide range of online transactions, such as signing documents, accessing online banking services, submitting tax returns, and verifying their identity when interacting with government services.

Bank ID provides a convenient and secure way to verify identities online, reducing the need for physical identification documents and offering a streamlined user experience for various digital services. However, please note that specific features, availability, and regulations may vary depending on the country and bank implementing Bank ID.

BankID was developed by the Finansiell ID-Teknik BID AB, a company headquartered in Stockholm, Sweden,  and has existed since 2003. This app is available in Swedish and English and can be accessed on Android, iOS, Windows, and Mac OS X. The company takes pride in the fact that it facilitated more than 6 billion transactions every year.

There are many reasons why BankID is such a popular payment solution. Firstly, this payment method is very secure. It utilizes strong authentication measures and encryption techniques, making it a highly secure payment solution. It requires users to authenticate themselves using their personal identification number (PIN) and a unique code generator or mobile app provided by their bank. This adds an extra layer of security and helps prevent unauthorized access and fraud. BankID also complies with all relevant regulations and laws.

BankID is widely accepted by banks, government agencies, and various online services. It has become a standard electronic identification method in some Scandinavian counties because it enables users to access a wide range of digital services and conduct secure online transactions.

The payment solution offers a very convenient user experience. Once users have set up their accounts, they can easily authenticate themselves and access online services without the need for physical identification documents or multiple login credentials in most cases. It simplifies the login and payment process, saving time and effort for users.

BankID is not limited to payment transactions only. It can be used for a variety of purposes, such as signing documents, accessing online banking services, submitting tax returns, and interacting with government services. Its versatility makes it a valuable tool for digital identity verification across different sectors.

In Sweden, BankID is available in the form of a SIM card application called Mobile BankID. This version of BankID is stored on the SIM card of a mobile phone, enabling users to authenticate themselves and access services using their mobile devices without the need for additional physical devices or applications.

Some of the banks that work with BankID include Danske bank, Handelsbanken, Ica Banken, Länsförsäkringar, Nordea, SEB, Skandia, Sparbanken Syd, Swedbank, and Ålandsbanken. Banks and organizations that offer BankID are invested in continuously updating and refining the system to keep up with emerging technologies, changing regulations, and user expectations.

Transaction Fees and Times

BankID does not charge additional fees on either deposits or withdrawals. You should still check if your bank charges such fees to avoid surprises. Payments are processed quickly and are generally very secure which is another reason why BankID is such a popular option among Swedish players.

The payment method itself does not impose transaction limits – so you will only have to take into account the limits imposed by your casino of choice.

Similar Payment Methods

In different countries, you will be able to employ different payment solutions more or less similar to BankID. Since BankID specifically is only widely used in Scandinavia, here are a few other options you might want to check out:

• Mobile Bank ID: Mobile Bank ID is a mobile application that provides secure electronic identification and authentication services. It is similar to Bank ID but specifically designed for mobile devices, allowing users to authenticate themselves and access online services using their smartphones or tablets.
• eIDAS: The Electronic Identification, Authentication, and Trust Services (eIDAS) regulation is an initiative by the European Union (EU) to establish a framework for secure and interoperable electronic identification and trust services across EU member states. eIDAS enables individuals and businesses to use electronic identification methods recognized by all EU member states.
• eID+: eID+ is an electronic identification solution implemented in Estonia. It enables Estonian residents and e-residents to securely identify themselves and access various online services provided by the government and private organizations. eID+ utilizes smart ID cards and mobile applications for authentication.
• Digital Certificates: Digital certificates are cryptographic credentials issued by trusted authorities that verify the identity of individuals or entities in electronic transactions. They are commonly used for secure authentication, digital signatures, and encrypted communication.
• OAuth: OAuth (Open Authorization) is an open standard protocol that allows users to grant access to their online resources, such as bank accounts or social media profiles, to third-party applications or services without sharing their usernames or passwords. OAuth enables secure authorization and authentication for a wide range of online services.

The availability and specific features of these methods may vary depending on the country and the organizations implementing them. To learn more about the specifics, get in touch with your bank.

Company Milestones

While BankID has been on the market since 2003, the company behind it has existed even longer – since 2001. Since its introduction, BankID has been trying to keep up with trends and constantly improve user experience. The solution's purpose is to constantly make things easier for clients that use it and introduce new possibilities – not necessarily ones related to payments or finance even.

One of the newest features BankID introduced allows you to activate a digital ID card in the app using your government-issued ID card or passport. This allows you to always have your personal documents within reach on your mobile device – you do not have to present your physical ID every time you are in contact with an institution since this digital card is considered completely equal. Your personal details are kept safe since you always have to present a safety code, a fingerprint, or facial identification when you are planning on showing your digital ID card.

In addition to everything else, BankID plays a significant role in reducing paper-based processes and promoting sustainability. By enabling digital authentication and digital signatures, BankID helps eliminate the need for physical documents, such as paper contracts, forms, and signatures. This not only reduces paper waste but also contributes to time and cost savings for individuals and organizations. Moreover, the shift towards digital processes facilitated by BankID aligns with the broader trend of digitalization, enhancing efficiency and convenience in various sectors, including banking, government services, and online transactions.

How to open a BankID account

Opening a BankID account requires you to go to a bank's physical office. Seek out a Swedish bank that offers the service, sign a contract, and provide the necessary personal information. After that, you will have to install the BankID security app on your device (smartphone, laptop, or tablet) and follow the instructions to activate your account.

Sometimes, when you are making a bigger payment, for example, BankID might ask you to verify your identity one more time. This is done by sending a photo of your ID card or passport.

There are plenty of great casinos that accept BankID payments. All you need to do is find the solution among the deposit options, enter your information, and verify the transaction through your BankID app.

Market Coverage

BankID is widely used in Sweden. It is actually the largest online identification service in the country, with 94% of smartphone users utilizing it. As of 2022, there are more than 8 million people using BankID actively. Around 6000 web services support the solution – banks, e-commerce, insurance, fintech, e-health, and other businesses. Keep in mind, however, that only people with a Swedish personal identity number can use the solution which means that it is not used outside the country. That is probably BankID's biggest limitation. Not all Swedish banks work with this payment solution so make sure to check if this is the case first.

A similar solution with the same name, BankID, exists in Norway but it is completely separate from the Swedish BankID. Only Norwegian residents can use this app.

Final Words

BankID is a safe, versatile payment method that enables clients to make fast, secure transactions. Although only players from Sweden can use this option for depositing with online casinos, there is an increasing number of online gambling establishments that offer this option. The fact that there are no hidden fees and the ease of use this app provides has turned it into one of the most trusted payment methods in Scandinavia. If you are a Swedish resident interested in using this deposit option, head over to the website of your favorite casino to see if BankID is one of the possible deposit options. If you are also working with a Swedish online gambling website, chances are that they accept this payment solution.