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The EPS service was developed by Austrian banks, together with the Austrian Ministry of Finance (FMO) and the Central Information Office (CIO) of the Austrian government. EPS stands for “Electronic Payment Standard” and is a type of instant bank transfer. The EPS electronic payment system allows customers to make online payments via their online banking app and is available around the clock regardless of bank opening hours. It was created in order to provide a safe way to conduct quick online payments for millions of people in Austria. The payment service is comparable to Sofort, Trustly, Klarna, and other popular instant banking solutions around the world but is not available globally at this point.
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More information about EPS
Log into your online casino account and visit the cashier. There, you’ll find a variety of deposit options, including EPS. After you have selected EPS as your payment method, you determine the amount you want to deposit. Once you confirm the amount, you will then be taken to a screen where you can select your bank. Simply choose the bank where you have your online banking account and click on confirm again.
The casino will then redirect you to the online banking portal of your bank. That is important because the casino cannot see the data you enter. Always take a good look at the address bar first. If you can see a green lock, this means the connection is protected by SSL encryption and you can proceed with the transaction safely.
From there, everything works exactly as it would for your regular internet banking option. The exact operation differs from bank to bank, however. Usually, you will have to enter your online banking login details. This is all done via the bank's secure payment screen. And this means that your information is, therefore, not visible to third parties nor the casino itself.
After you entered your credentials, you can confirm the transaction and the payment will be transferred. The money will be debited from your bank account and is immediately credited to your online casino balance so that you can get on with playing casino games.
One of the downsides of EPS is that it only works in one direction – i.e., solely for deposits. It is not possible for players to take advantage of the quick transfer times for withdrawals. But this is not a big problem. If you want to cash in on your winnings, you can simply choose one of the available withdrawal options from the cashier of the online casino instead.
Most commonly, you will end up requesting a regular wire transfer to your bank account. This can be done by selecting the corresponding option in the cashier under the ‘withdrawals’ tab. First, you need to specify the amount you would like to take out of the casino. Then you can enter your banking information. In most cases, your funds will be credited to your bank account within three-to-five business days.
Alternatively, you can use any other available withdrawal method. Please keep in mind that it is likely that not a whole lot of options will show up, as it is necessary to make a deposit first in order to register a new method (such as a card or an eWallet) to the site. Also, it is important to know that most only casinos only allow payment methods that are in your own name.
EPS can be used without having to create an account first. Since you are forwarded to your online banking portal and you are using your regular banking account, the payment provider is not required to verify your identity.
Of course, you need to verify your bank account that you intend to use via EPS. This is usually not a big problem as Austrians usually open bank accounts directly at a local branch. In order to open an account at a bank, you usually only have to bring a valid form of identification such as an ID card or passport. In some cases, proof of address, such as a utility bill, might be required.
When you are using your online banking account to transfer funds to an online casino through EPS no additional fees are added. Players can use this service entirely free of charge. Only regular banking fees might accrue. Most Austrian banks that are compatible with the system have very low or no transaction fees at all. Please be aware that despite that, the online casino operator can add a transaction fee on top of your deposits and withdrawals. This only rarely the case for instant banking options such as EPS.
You should also keep in mind that it is not possible to request a cash out through EPS directly. For that reason, you have to think about a withdrawal method that best suits your needs. In that regard, it is important to check out the cashier before making a deposit to ensure that a withdrawal method is offered that is both available to you and, in the best-case scenario, free of charge.
Whether you are betting on sports or want to play at an online casino, most gambling sites will offer a variety of different bonus offers. This often means extra bonus money by registering at the site or when making your first deposit. And no matter how nice these kinds of bonuses are, it is important to know that there are almost certainly special bonus conditions attached to them. This can be important when choosing your deposit method as not every payment option might qualify for the promotions you are after. The good news is that almost all bonus offers can be used with the majority of instant banking options including EPS.