With its head office located in Toronto, UseMyBank is a type of virtual payment method. It is a useful online transaction facility that enables a person to form a link between his individual bank account and his preferred gambling portal. The transaction is made via the individual’s bank’s virtual billing system. The money is wired in actual time and the player only has to provide a functioning phone number and an email address for the deposit authentication.
How it Works
Like one might assume, UseMyBank is anything but an e-wallet payment method and it also doesn’t provide one with the facility of withdrawing, as it doesn’t allow people to extract money from the virtual gambling account. UseMyBank is strictly used for enabling payments of online dealers. One can think of UseMyBank as a reliable broker between himself and the online gambling portal.
To make use of UseMyBank, one has to have a prevailing bank account with one of the banks that already has collaboration with UseMyBank payment method. Hence, when one uses UseMyBank for the very first time, he has to connect it to his bank account. Subsequently, whatever transfer that a person makes virtually with UseMyBank will end up in a debit off his personal bank account.
Advantages and Disadvantages
Making use of the prevailing bank accounts, UseMyBank is a virtual banking payment method that offers easy and organized fund transferring facility. With the banking segment growing to be more complicated, entities would be in a frame of mind to allocate a sum for the facilities provided by virtual financial companies which lend such services both conveniently and free of obstacles.
UseMyBank has very little risk elements when equated to other modes of online transaction methods. The fee one has to pay to use this facility is quite reasonable and one does not require maintaining reserves. It also helps the buyer to link his bank account to the gambling portal of his choice at ease. UseMyBank offers a safe, trustworthy and a simple method of transacting funds. It is the same way a person uses a debit card or cash that is sourced out of his personal bank account.
This facility can be availed in British, Chinese and Canadian banks. HSBC, Royal Bank of Scotland, NatWest and the First Direct bank are some of the British banks that allow buyers to make use of UseMyBank. There are plenty of gambling portals that admit UseMyBank payments and provide whopping windfalls on a player’s initial deposit.
The one shortcoming with UseMyBank is the fact that one cannot draw his winnings into his personal bank account, in place of which he can do a wire transaction. But it is not much considering UseMyBank provides one with so many other allowances.
Using UseMyBank at Online Casinos
To make use of UseMyBank, players should first opt for those online gambling portals that allow payments through the same. After registering with a Real Money account, one should go to the cashier option on the site to make a payment. Subsequently, he can choose the UseMyBank mode. The user will be automatically introduced to a fresh UseMyBank screen wherein he can key in the sum he wants to deposit and that’s it, the transaction is done!
UseMyBank is not a lot dissimilar to doing deposits through online banking or a debit card. For such purposes, the buyers will have to offer an existing email ID and telephone number to UseMyBank. The site has an agreement with the buyers that it will not disclose personal details of any buyer with a third party.
The transfers made through UseMyBank are done instantaneously as they are essentially debits from the bank account. And much different to utilizing a debit card, there is a prompt announcement sent to the buyer after the transaction has been done. The verification and payment methods are implemented via the buyer’s bank itself. UseMyBank supports only one language – English.