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UseMyFunds – Payments at Online Casinos
UseMyFunds was formerly known as UseMyBank, and it's an online payment service. At its core, the service connects players' bank accounts to their online casino of choice. All this, without sabotaging the player's privacy. Or in simpler terms, all your financial and personal information will be protected from would-be hackers. Being available in 11 countries also doesn't hurt its appeal, which is why we'll be discussing all its parts below—so, have a read.
Our American Players’ Favorite UseMyFunds - With Ratings! Updated February 2021
More information about UseMyFunds – Payments at Online Casinos
Let's first talk about the advantage, no? UseMyFunds guarantees more control over how much funds you really want to gamble with. Aside from that, the ease of depositing funds deserves some credit too. We mean, you don't even need to create an account to deposit with this option. The service only acts as the middleman between your bank and the casino. To give you a better glimpse into what's happening, we've divided it into a couple of steps for an easy read.
- Visit your operator's deposit page, then choose UseMyFunds
- Enter how much you want to deposit into the casino
- Then surf through the bank list for your own financial institution, and choose your own
- Input your account details and process the payment, and it should reflect instantly in your account.
- On the chance that the money doesn't reflect immediately, confirm that you've got sufficient funds in your account. Then contact the support if the money still hasn't reflected.
To withdraw from UseMyFunds Casinos is a feature exclusive only to Canadians. And for people playing from Canada to use this feature, you'll need to register a UseMyFunds Buyer account. After that, you need an approved Pre-Authorised Debit (PAD) form. This can be considered the verification process, and it's even more annoying than ones from other payment methods.
It involves the submission of details such as your address, account number, and finally, a waiting period of up to five days. For players living outside of Canada, the only way you can withdraw your funds by finding an alternative payment method. And on that note, be careful of their fees as well.
Your minimum deposit can only ever be €20, while the max is only ever €20K. As for players from Canada, the minimum you can withdraw stays the same ($20), while the max is uncapped. As for fees, most banks charge zero for transactions processed by UseMyFunds. Of course, this is if you're making deposits only. For withdrawals, on the other hand, there's a $1 charge for every PAD transaction you make. Otherwise, UseMyFunds generates profit from merchants. But, of course, this may differ depending on a few factors such as region.
Using this payment method rewards you with quite some bonuses. This ranges from welcome promos to tournaments rewards. More often, than not, the bonuses you'll get are free spins and cashbacks. To find out which UseMyFunds bonuses you can get your hands on, simply have a look at the top list right here at GoodLuckMate!