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Klarna – Payments at Online Casinos
Klarna, meaning clear, is a Swedish fintech startup that offers an innovative solution to online payments. Having started in 2005 in Stockholm, this company has grown into one of the biggest online payment providers in the EU boasting over 60 million users across 14 countries. Some of these users include online gamblers and casinos. While online gamblers will not have access to the full range of features including breaking down huge payments into smaller but manageable ones – making instant payments directly to the casino from your bank account should be an appealing aspect. Since Klarna operates similarly to an instant banking service, players can deposit and withdraw funds from their bank accounts directly without risking their sensitive information. So, just how does Klarna work for online punters?
Our American Players’ Favorite Klarna - With Ratings! Updated May 2021
More information about Klarna – Payments at Online Casinos
For online gamblers, the only service they’ll be interested in is the direct bank transfer. This option allows players to move funds to and from their bank accounts. The best part is that you don’t need to go through a separate registration process to make a Klarna payment. All you have to do is ensure the casino you are playing at and your bank support Klarna and SOFORT. The latter is a German financial service that merged with Klarna in 2014. Therefore, in some instances, you may find Klarna presented as SOFORT.
You don’t need an account to perform online gambling transactions. So, your information will remain safeguarded from unauthorized third-parties. After activating your bank account for online banking, ensure you have a stable and fast internet connection. Afterward, navigate to the cashier section of your preferred gambling platform. Then, choose Klarna (SOFORT) as the payment option. Here at GoodLuckMate, we have a range of casino websites with Klarna, for example.
A new window will pop up with Klarna’s payment system promoting you to enter your bank and your country of residence. After finding your bank, all you need to do is enter your credentials, which include your password, account number, and PIN).
In some instances, you may need to enter a TAN (Transaction Authentication Number) sent via SMS or email to authorize the transaction. TAN works as an OTP (One-Time Password), which is an extra layer of security. After the authorization, the funds will move in real-time from your bank account to the casino account without incurring funds. With that said, you want to inquire with your bank to find out whether they levy any fees for Klarna payments.
Cashing out casino winnings using Klarna is just as simple as depositing funds if your gambling platform supports this option. To find out if this is the case, open the cashier page and choose withdrawal. Find Klarna or SOFORT from the provided list of cashout options. Click on the option and a pop-window will appear asking you to enter your login details.
Now, you need to note that the number of casinos offering Klarna as a cashout option is fewer than those that accept it as a deposit option. Furthermore, the transfer time will depend on your country of residence. The standard time is between two and three business days and this in addition to the pending period set by the gambling operator.
To ensure your personal and financial data remains secure when performing transactions over the internet, Klarna needs to verify your account when performing these transactions. Nothing too difficult because remember, you don’t need a separate account. All you need is a bank that accepts Klarna.
When linking your bank account with Klarna, you will receive a TAN or OTP. This is basically a password to use when performing transactions. They only last five minutes and then expire. With this added layer of security, it will be easy for the bank and Klarna to know you are the rightful owner performing the transaction.
There’s good news when it comes to the limits allowed by Klarna. The company doesn’t impose any maximum or minimum limits when transferring funds using this method. This applies to both deposits and withdrawals. While the Klarna payment method doesn’t impose any limits, some gambling operators may set these restrictions. Therefore, you want to go through the terms and conditions or customer support to get this information.
As far as the fees go, Klarna opts to go down the same path as it does with deposit and withdrawal limits. That means you will not incur any fees when depositing or cashing out funds. Again, similar to the situation with the deposit and withdrawal limits, certain casinos may impose fees on both transactions. With that in mind, contact customer support for clarification on this matter. Still, most Klarna reviews from online casino players are positive and consumers enjoy using the method.
Online casinos that accept Klarna as a payment method offer various bonuses to their players. However, the type of bonuses and sizes you will come across will differ from one operator to another. These bonuses include a refer-a-friend bonus, special promotions, welcome bonuses, and no deposit bonuses.
The last two bonuses are the most common and are aimed at attracting new players to the platform. They could be in the form of free spins or a match bonus. For the latter, most of them range starting at 100% or lower and could go all the way to 500%.
You won’t find many refer-a-friend bonuses, but if you do, count yourself lucky. As the name suggests, this type of bonus also aims at roping in new players but through existing punters. As a result, the existing players will get a reward once a new player joins through their referral. Most of the time, these bonuses come with restrictions, so ensure you go through the terms and conditions to avoid disappointments.