Giropay
Giropay is a direct online banking system established by German saving banks in 2006.
The system serves approximately 17 million customers and works with 1500 German and Austrian banks. More than one million payments go through the Giropay service every single month, making it the second most popular online payment method in Germany, behind Sofort Überweisung.
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Using Giropay to make deposits
When depositing cash into their casino account, players simply select Giropay as their preferred payment method and when redirected to their online banking page, log into their online bank account.
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As the process requires the user’s bank account number, PIN code and TAN code, Giropay is a very secure payment method. It also acts as a middle man, so that neither personal nor financial information is shared between the person making the deposit and recipient.
Withdrawals with Giropay
When it comes to withdrawals, the process is very similar, with the funds from the online casino account being transferred to the player’s registered bank account.
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Fees
However, there are some drawbacks, such as the transaction fee and the lack of availability outside Germany and Austria. Giropay charges a fee of €0.08 plus between 0.9% and 1.5% of the transaction.