There has been a proliferation of online payment methods with each of these striving to dominate the system. Before now, it was tenable for banks and other financial service providers to be the sole provider of this service. However, recent years had seen the interest of different countries that seek better opportunities to enhance their payment systems.
It is into this latter category that WebMoney falls. Aside from being one of the major online payment systems in the former Soviet Union, WebMoney has now grown to become one of the most widely used payment methods in online casinos. Let us look at the structure and other factors that make WebMoney the perfect means of funding your online casino account.
Background
WebMoney was founded in 1998 and owned by MW Transfer Ltd, which is based in Moscow, Russia. It was launched to cater to the online payment needs of customers from Russia and former USSR countries. Nowadays, it has grown beyond that to become one of the leading online payment systems in the world. WebMoney is widely accepted in webshops and online service providers.
Customers are allowed to use the WebMoney money or e-Wallet as well as the WebMoney plastic and virtual VISA and MasterCard debit cards, which are called the “WM Card”. This allows users to fund their WebMoney e-Wallet or debit card and use them to make online payments, including in online casinos. Now, WebMoney has over 25 million registered users.
Supported Countries
WebMoney was launched to cater to the online payment needs of Russian customers and that of countries under the former USSR. It has since become one of the most used online payment methods across the world.
How to Register
Registering for WebMoney can be done online by visiting the website. You would be required to provide and confirm your personal information and set up other details like your e-mail address, telephone number, and password. You also need to choose your preferred currency for the wallet, such as Russian Rubies, Belarusian Rubies, Dollars, and Euros.
You would then receive a 12-digit WebMoney Identification Number (WMID or “Identifier) that would be used alongside your telephone number, password, and e-mail address to make use of the system.
Funding Your Online Casino Account with WebMoney
Once you have verified your information and added funds to your WebMoney account, the next step is to choose an online casino that accepts it. You would locate this under the e-Wallet payment option. Choose WebMoney as your preferred payment method, and enter the amount you wish to deposit. You would then be redirected to the WebMoney login page where you would confirm the transaction with your WMID after which the funds would reflect in your online betting account.
Withdrawals with WebMoney
The rule of thumb is to inform the online casino about your intention of using WebMoney as your withdrawal method. With that in place, you can then use the same procedure as the deposit to withdraw your earnings. Depending on the type of WebMoney purse you are using, you may have to wait for about 10 days before your earnings would be processed.
Conclusion
WebMoney is preferred by many online casino players because it encrypts transactions, and has provisions for withdrawals. The steps above would guide you in funding your online casino account using WebMoney.
