POLi, or POLi Payments to give it its full name, is an online banking payments service that is based in Melbourne, Australia. It has become the leading eWallet solution for players in Australia and New Zealand who wish to open accounts at online casinos and sports books without directly using their bank accounts, or Visa or MasterCard credit or debit cards.
Introduction
POLi was set up in 2006 as a means of linking online banking services offered by various banks in Australia and New Zealand to merchants – particularly online casinos, online sports books and airlines. It works by directly linking internet banking services to a merchant, thus saving the need for the use of credit and debit cards.
POLi has come under some criticism in the past, with banks claiming that POLi’s processes are open to hacking and malware. However, as of yet no major fraudulent activity has been reported, and POLi has not succumbed to a hacking attack or anything similar.
Pros and Cons
Pros
- No need to open a ‘POLi’ account
- An extra layer of security between an online casino and your bank
- Easy to set up and easy to use
Cons
- Only available in Australia and New Zealand
- Some banks recommend that you do not use POLi
Security
POLi allows its customers to connect to their banking accounts via a secure ‘proxy’ server. This server acts as a go-between, between the bank and the merchant or online casino, but the POLi customer is oblivious to this. This means that all transactions between an online casino and a bank are monitored and ratified by POLi, and all traffic between the customer and the POLi server, and the POLi server and the merchant is secured by SSL encryption technology. All customer data, such as usernames, passwords or internet banking login credentials is not kept by POLi at source.
Deposit and Time
As you are making payments online, and directly between your bank and the online casino (remember that POLi just acts as the go-between and as a secure gateway), deposit times at online casinos are typically swift. When you select POLi as your payments provider, your depoist should be available within a few minutes.
Withdrawal times are slightly longer. Most casinos will have a pending or processing period which should last between twenty-four and forty-eight hours. After this period it should be less then twenty-four hours before your money appears in your bank account.
Usability
There is no need to open a POLi account in order to use POLi as a payments services provider. When it comes to selecting POLi as your deposit or withdrawal source, you simply click the ‘POLi’ button and select your chosen amount. POLi will then connect you to your internet banking facility in order for your to complete the payment details. When you next use POLi at the same online casino, just click the ‘POLi’ button and your payment will be processed instantly.
Conclusion
POLi simply acts as a gateway to the internet banking services offered by your bank. You may then ask why use POLi, and not the banking services offered? The answer is that POLi acts as an extra layer of security between an online casino and your bank, keeping your banking details away from the casino. If you’re a resident of Australia or New Zealand, then POLi is a great way of making payments to your favourite online casino.
