WebMoney

What is WebMoney? 

For those of you yet not familiar with the WebMoney, it is the company founded back in 1998 in Russia as a settlement system which would allow easy dollar conversion during the financial crisis that occurred the same year. It represents one of the first online money storage models, besides the PayPal, that disposes of with the “purse” in which all of the customer’s funds are being stored. The term “purse” is the equivalent of the term internet wallet. One can safely deposit and withdraw the money from it at any moment. To make the whole system more secure, the underlying assets for WebMoney units are held by a global network of companies that act as guarantors. This complex network simply accepts deposits in the assets and gives out the corresponding e-wallet units. To establish the security further, the e-wallet offers various “passport” options that include different identification and verification processes:

Here is the latest news on this banking method:

  • In 2015, the National Bank of Ukraine and the State Saving Bank of Ukraine did the business with WebMoney. In the same year, Europe department in the UK has received the license to issue e-money in the European economic area. It launched the crowd-funding platform for voluntary donations, and group purchasing and event planning involvement.
  • In 2019, Sberbank has partnered up with the e-wallet to enable instant transfers from Sberbank cards to the WebMoney purse. This transaction process requires only the customer’s phone number as a validation step.

Deposit & Withdraw using WebMoney

Deciding to play at the WebMoney online casino gives you the option to make fast and secure deposits via the e-wallet. Same as depositing, the withdrawing option is enabled as well. The unique thing about this payment method is that it offers to the customer different types of account passport options that include various identification and validation steps, but offer different services that suit a majority of gamblers.

  1. Alias: It is a default pass that offers free, yet very limited services as the security measurement attached to it are of the standard quality and provide only a basic relationship with the WebMoney casino. It may cause withdrawing-nature issues because of that. Verification for this option requires a phone number and email address.
  2. Formal: One can withdraw the money from online casinos without encountering any issues. Bank payment and money transfer options are available, as well. Visa or Mastercard could now be linked to the WebMoney account, while all the given services are free of charge as in Alias. However, the customer needs to pass through more severe verification step, such as the required copy of the ID.
  3. Initial Passport: The customer needs to meet the WebMoney agent to qualify for this passport option, and unlike the previous two, this one is not free of charge. However, it allows depositing and withdrawing limits to go up, which is suitable for the high-rollers.
  4. Personal Passport: This option offers the highest depositing and withdrawing limits. There is a certain fee attached on it which can only be paid to the banking agent in person and includes extra levels of verification.

Advantages and Disadvantages of WebMoney

  • Advantages

    • Account funding: There are several ways to deposit to the account like bank transfers, cash points, visa and master cards.
    • Anonymity: Your contact and bank account details stay protected with anonymity.
    • Viability: WebMoney is not only available to Europeans and Russians but for customers from numerous countries as well.
  • Disadvantages

    • Fees: To enjoy high depositing and withdrawing limits, one has to pay certain fees
    • Language: Although most of the website is in English, unfortunately, some of the information is in Russian.
    • The website is in Russia: It makes it harder for players outside of Russia to meet the e-wallet agents.

FAQs

  • Do all casinos accept WebMoney?

Not all online casinos include this payment method. Most of the online casinos residing in Europe and Russia do.

  • Is WebMoney safe to use in an online casino?

It depends on the account passport option that you choose. The free ones come with lower security measurements, and deposit and withdrawing limits. Alias is the most unreliable option, while withdraw is impossible.

  • What is the minimum/maximum amount I can deposit to this e-wallet?

The depositing limit rises with Initial and Personal passports, as with the identity confirmation. Without going through currency conversion, one can deposit from 200 dollars with the Alias option to up to 120,000 dollars with Personal passport and identity confirmation. These are the limits, while the minimum deposit has no restrictions.

  • Are there any fees charged?

Yes, one needs to pay for Initial and Personal account passports. 

  • Can I use WebMoney in a mobile casino?

Yes, there are various mobile casinos with this payment option.

  • How to find a good online casino that accepts WebMoney?

You can search for the best online casinos that include WebMoney via the internet, but to spare you some time, here are some of them to choose from Scasino, 888 casino, Casino Las Vegas, Eurogrand Casino, Casino.com, BetAtHome Casino, Winner Casino.

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