GiroPay Casinos with Instant Withdrawal (2024)
Table of contents
Giropay is an online payment system that is widely used across Germany and Austria. It enables customers to make secure online payments for goods and services directly from their bank accounts using their banking credentials in a quick and convenient way. The payment method is accepted by many playing houses, and it's yet another way to easily and at the same time securely transfer money to your casino account.
Giropay was formed in 2006 as a result of the cooperation between Postbank and the German Savings Bank Association (DSGV). It was launched to provide a secure and convenient online payment system for Germans, allowing them to make payments directly from their bank accounts. Hence, online transactions could be carried out by not using credit or debit cards, a convenience some Germans found very appealing.
Giropay initially involved Postbank and the savings banks, but the service quickly expanded to include other banks, increasing availability and adoption across Germany. Nowadays, it is supported by more than 1,500 German banks, including major financial institutions such as Deutsche Bank, Commerzbank, and Sparkassen, to name but a few. In simple terms, customers using Giropay are redirected to their bank's online portal, where they can securely log in and authorize the payment. The real-time transaction processing triggers immediate confirmation for both customers and merchants, completing the payment quickly and seamlessly.
Currently, Giropay is available for users on pretty much all operating systems, including Windows, macOS, Linux, and mobile OS like Android, iOS and iPadOS. The wide adoption provides additional flexibility, so people who prefer GiroPay may use it in supermarkets, for online payments, or to make online casino deposits, no matter the device they are using.
One thing you should keep in mind if you are not so familiar with the system is that Giropay is not an e-wallet per se, so it doesn't have the functionality to store funds. Instead, it just closes the gap between you and your bank during transactions. For that reason, withdrawals to GiroPay are not possible, so keep this in mind while depositing with your casino.
When it comes to security and practicality, GiroPay does implement the following measures:
- Personal and banking information protection – Giropay does not share users' personal and banking data with online casinos and merchants so that customers do not reveal their identities.
- Secure Socket Layer (SSL) encryption – Giropay deploys 256-bit SSL encryption to protect all transactions from various malpractices, ensuring the security of user data.
- Minimal information requirement – Giropay minimizes the amount of information required from users as banks already have customers' details at their disposal. Hence the risk of sensitive information exposure reduces significantly.
- TAN and PIN confirmation – Giropay transactions require confirmation with a TAN (Transaction Authentication Number) and PIN (Personal Identification Number). By doing so, the system prevents unintended transactions – each payment should be authorised using both codes.
- Instant payments – transactions are processed immediately, which reduces the risk of third-party involvement. The payment history remains accessible only to users and their banks.
- Insurance for transactions – all payments of up to €5000 are covered by Giropay, providing reassurance that funds will not be lost during the process. In case of a failed transfer, money is refunded shortly with no additional strains.
- Refunds – in case, you want a refund, you are eligible to apply within 180 days after the transaction has been processed.
- Customer support – Giropay offers two customer care options, phone and email, ensuring prompt resolution of any issues that may arise.
Note, though, that this payment method is available for German and Austrian customers only. If you don't have a bank account in either of those countries, you won't be able to use GiroPay.
Fees and Times
GiroPay adopts a dynamic pricing model that is somewhat tricky. For clients, it is free to use GiroPay, but with that said, you may as well need to pay fees, and it happens in most cases. Primarily Giropay charges the retailer at the following rate:
- 0% for each transaction fee up to €0.99
- 1% for €0.99 – €2 999
- 2% for €2 999 – €5 000
- 3% for €5 000 – €10 000
- €10 000+ even higher fees with nothing further specified.
While it is free for customers, they should nevertheless pay the fees for the transfer, with the charge typically being from 0.9% to 1.2% of the sum plus a fixed transaction fee of €0.08. On the other hand, however, all fees will also depend on the particular bank's policy and charging lists, so there may be variations. In any case, you may expect to pay some fees, but the amount won't be mind-boggling overall. Note that most casinos do not usually charge GiroPay deposits, so the fees you may pay will be triggered by your bank.
As mentioned, withdrawals to GiroPay are not possible since it's not an online wallet but a mediator app between customers and banks. Hence, we cannot discuss any withdrawal fees. When you cash out to your bank account, though, fees may appear, but yet again, the charges will depend on your casino or the banking institution.
Considering the timing, once you authorise payment through GiroPay, the request is sent instantly. Thereon, the money will appear in your casino account whenever the bank completes the transaction, which would be per case dependent. If you deposit to a Curacao-based casino, it may take some time, but generally, GiroPay payments are considered fast enough.
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2005 – Giropay was founded by Deutsche Postbank.
2006 – Giropay was introduced as an Internet banking payment system in Germany. The system is similar to various other payment systems around the world, including the Dutch iDEAL, MyBank, the Interac online service in Canada and so forth.
2007 – Giropay witnessed significant growth and widespread adoption – more than €100 million processed. This milestone shows Giropay's efficiency and approval, revealing its growing popularity among German users.
2008 – the system processed 3.2 million transfers, with transactions of more than 185 million EUR processed in total. That shows an increase of almost 100%, indicating that GiroPay's popularity is rising very quickly.
2020 – Giropay was owned by Giropay GmbH until December 2020, when it was acquired by Paydirekt – a direct competitor of the brand. The complete process of the merger was carried out throughout 2021, and as of today, the mobile GiroPay apps are delivered exclusively by paydirekt GmbH.
2023 – Giropay adoption for online payments in Germany was higher in 2023 than it was in early 2020, signalling a growing use among consumers. As of today, the Android GiroPay app has more than 500+ downloads, whereas the iOS app statistics are not revealed.
Giropay has a reach of about 17 million German online banking customers and about 60% of all commercial bank accounts. That number indicates that the included banks are serving the vast majority of the German online banking market, so it's fair to say that GiroPay is integrated into the system, and its usage becomes a matter of preference.
Creating a GiroPay account is a straightforward process if you have a bank account in Germany and Austria. If you don't have one, the complete process is as follows:
Set up a German or Austrian bank account – to do so, you need to apply and provide a certain amount of personal information. ID cards, residential address and any other details, depending on your situation – whether you are a German national, a refugee, a worker from another country etc. When complete, do not forget to deposit some money in the account.
Activate mobile banking – once you have a registered live account, you should activate mobile banking. This procedure may be different from bank to bank, but overall, it's an easy feat. In most cases, it takes just a few minutes to set this up.
Register at GiroPay – go to giropay.de/giropay.at and start creating your account – choose a username and password, and fill in the information asked – email, phone, birth date and so forth. At this step, remember that there are two options – to sign up for a business or personal account for payments. Most casino players should default to the latter option. Thereon, you will have to provide your banking information – IBAN and SWIFT, as well as a phone validation plus other security steps if necessary. Once you've done that, Giropay will provide you with a Transaction Authentication Number (TAN). Further validation with your bank may be required, as well, but overall your GiroPay account should be complete.
Casino deposit – easy feat. Enter your playing house, click on deposit and select GiroPay. Following this, you'll be navigated to your Internet banking portal, where you input your account number and PIN. Once finished, the bank issues a TAN code used to verify the transaction, after which the deposit will be instantly withdrawn from your bank account and moved to your casino. Good luck!
As mentioned, you cannot use GiroPay if you don't have German or Austrian bank accounts; hence the countries where it's available are only two: Germany and Austria. That said, however, casinos all around the world accept GiroPay, so if you are a resident of either Germany or Austria, you may be able to deposit with any casino that is ready to accept the method, regardless of the country the house is located at.