WebMoney Casinos

WebMoney Casinos

Many in the industry tend to refer to WebMoney as ‘the Russian Paypal’, whether this is entirely accurate or not. Justifiably, WebMoney is a Russian money transfer service (among other things), and the company offers many of the financial services offered by Paypal. It was founded in 1998 – which is the same year in which Paypal was founded – by WM Transfer Ltd and is headquartered in the Russian capital, Moscow. The service is not available to US players for online casino gaming or any other gambling purpose. In fact, WebMoney was originally launched to cater for Russian clients, but has since gone international. Today, WebMoney claims a customer base of around 30 million users and in the online gaming world, is most widely known for its e-wallet service.


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How Webmoney Works

WebMoney requires the user to have a WebMoney account, which one may create in no time at all, through a painless process. You may also acquire a WM Visa or WM MasterCard debit card, which you may tie to your WebMoney account and use to make online payments. These cards may be physical (plastic) or virtual. Alternatively, WebMoney works through a ‘WM Purse’ which players would have to fund using a number of available methods and which they would use to deposit money into, or withdraw money from, online casino accounts. Once you have created your WebMoney account and selected the currency to tie to your purse (you may create multiple purses with different currencies attached to each) you would be required to select a password type out of four available. The higher the level of your password type (verification level), the more benefits you may make use of (high level passwords require a fee to be paid). The next step would require you to fund your purse, as WebMoney offers no credit services. You may do this using a variety of methods, including credit card, wire transfer, cash at WM agents and more. Note that different methods of funding your purse come with different fees involved. Once your WM Purse is funded, depositing funds in an online casino account requires the same process as doing so with any other e-wallet service. It’s quick and easy and doesn’t require the user to reveal any delicate info to the casino. Most casinos that offer WebMoney as a banking option will allow both deposits and withdrawals using the service, players are advised to enquire about this beforehand. Also, note that WebMoney charges a 0.8% fee for almost any transaction made through the service, whether it’s a deposit or a withdrawal. This tends to be higher than the fees charged by competitors.

Transfer Times

Transfer times can vary quite widely with WebMoney transfer and depend on a number of factors. Deposits into online casino accounts are normally instantaneous. How long it takes to upload one’s purse however, may not be, depending on the upload method of choice. If your purse is funded however, you should be playing within minutes of making a deposit. Withdrawals may be tedious as far as transfer times go. In fact, it may take up to ten working days for money to actualise in your personal bank account, depending on your account status and type of purse (and currency) selected.

Customer Service

WebMoney offers direct support to its customers via e-mail, telephone and even social media. All the information one would need pertaining to support is available via a ‘support’ tab on the company’s official website.

Rule the Web!

There are a few pros and cons one should weigh up when considering the use of WebMoney for online casino banking. Firstly, there’s the 0.8% in-house charge that comes attached to both deposits and withdrawals. Secondly, the system’s interface may be complicated at times and may deter the less computer- and web-savvy of online gamers. This is because WebMoney offers a host of financial services and doesn’t make navigation easy for those only interested in their e-wallet services. On the other hand, as long as you hail from Russia, Ukraine, CIS Countries, the EU or the UAE, WebMoney may be a viable banking option for you. You may bank in several available currencies, it is a safe method using the latest in SSL encryption technology, and it is relatively quick and easy to use once you’ve set it up. Players are always advised to enquire about any fees and bonuses attached to the use of WebMoney with the casino of their choice prior to making a deposit.