What is Sofort Überweisung?
Sofort Überweisung is a real-time online payment service founded in 2005 in Munich, Germany initially under the name Payment Network. In 2012 the service changed its name to Sofort AG and nowadays, besides being the nr. 1 online payment service in Germany, the company has branches in another 10 countries (Switzerland, Belgium, Austria, the Netherlands, the UK, France, Italia, Poland, Spain and Hungary) of which the residents can use the service. Sofort Überweisung (in English: Sofort Banking) offers a safe and reliable online payment service accepted by more than 25.000 web-shops and online entities (under which many online casinos), carrying out more than 2 million payment transactions per month.
As Sofort is acting as a “middle-man” no personal information of the depositor is revealed to the recipient of a deposit. And according to the payment service provider itself since 2005 there has been no information leakage or cases of identity theft whatsoever as a consequence of their payment services (hence their position as the most popular online banking method in Germany).
This is due to the two-layer security measures the company uses, consisting of the PIN-code (or password / username) of the depositor in combination with a Transaction Authentication Number (TAN-code). The TAN-code can only be used for one specific deposit and after the money is transferred becomes immediately invalid. So even if someone knows the Pin-code of a depositor the transfer is still safe as the TAN-code used by the depositor (only once for a specific transaction) must be known also to make a malevolent action possible.
Paying with Sofort Überweisung in an Online Casino
Sofort Überweisung works with the online banking account of the depositor. Simply opt for the Sofort Überweisung payment method in the online casino of your choice and fill in the desired amount you want to deposit in the dedicated input box on the casino’s payment page. Then choose your online banking system (that’s connected to the Sofort network) after which you will be re-directed to the Sofort set up page. Fill in the transfer form of the same, together with your PIN-code and / or Transaction Authentication Number (TAN-code) provided by your bank. Within 30 to 40 seconds the deposit will arrive on your casino account.
For using the Sofort Überweising service to make a deposit in an online casino in most cases no fees are charged. Normally the minimum deposit allowed by Sofort Überweisung is no less than € 10. The maximum amount of money that can be deposited using this banking system depends on both the online casino and possible restrictions of the bank of the depositor.
Withdrawing with Sofort Überweisung in an Online Casino
If you want to withdraw using Sofort Überweisung it’s best to contact the customer support of the online casino in question you want to withdraw the funds from. In order to withdraw with Sofort first a deposit must be made by using the same service.
The withdrawal procedure is normally the same as making a deposit. On the pay-out page of the online casino you choose for Sofort Überweising as the withdrawal option. As the casino has stored your Sofort Überweisung information from the time you made a deposit this info will be used by Sofort to transfer your casino account funds to your personal online banking account (that’s why in order to withdraw with Sofort first a deposit using the service must be made).
The withdrawal will instantly arrive on your bank account and possible fees or withdrawal limits depend on the online casino.
Advantages of using Sofort Überweisung
There are several advantages when using Sofort Überweisung to make a casino deposit or withdraw funds.
- First of all it’s completely secure as, both during a deposit as well as during a withdrawal, no personal financial information is exchanged between the player and the casino. Above that the two-layer security measure that Sofort applies (PIN-code and TAN-code) provides for an extra safety criterion that makes it impossible for third parties to interfere with the transaction.
- Second, a Sofort Überweisung payment is instantaneous and there is virtually no delay in having your deposit or withdrawal available on either your casino account or your bank account.
Third, there’s no need to open an account or register at Sofort and anyone that has an online banking account at a bank connected to Sofort can use the service.
Disadvantages of using Sofort Überweisung
- A disadvantage of Sofort Überweisung is that their service is only available to players from certain countries and who have an account at a bank connected to the Sofort network.
- Another disadvantage can be some online casinos will allow players to make a deposit using the Sofort Überweisung but not a withdrawal. Also some casinos only allow players from Germany to deposit and withdraw with Sofort.
Where to Pay with Sofort Überweisung?
Sofort Überweisung as a payment method in online casinos is becoming more and more available, especially in internationally operating casinos or online casinos that are directed towards players from countries in which the service is available (starting with casinos focused on players from Germany). Have a look at this page to see which NetEnt Casinos allow Sofort Überweisung payments.
Can Players Top Up E-Wallets Or Prepaid Cards With Credit Cards And Play At UK-Licensed Online Casinos?
As of April 2020, The United Kingdom Gambling Commission banned all UK-licensed online casinos from accepting credit cards as a payment method. This means no credit cards can be used to deposit or withdraw at any casino with a UK license. This also means casinos shouldn’t accept money from e-wallets or prepaid debit cards with funds that originated from a credit card. The use of debit cards is completely unaffected by this ban.