Sofort (or Sofort Überweisung – ‘instant transfer’ – to give it its full name) is a German-based online eWallet scheme for making payments across the world wide web. Originally only open to customers based in Germany, Sofort is now available in thirteen countries all across Europe, and in some countries worldwide too. It has developed to be an extremely effective and convenient way of making casino payments online.
Introduction
Originally called ‘payment network’, Sofort Überweisung was set up in 2005 in Gauting, which is a town close to Munich in Germany. After almost a decade of success Sofort was snapped up by the Swedish company Klarna Group in 2014. This combined company now enjoys a client base of over thirty million customers, and close to five thousand merchants accept Sofort as a payments method. The company has offices in Germany, Belgium, Poland, Spain and Austria.
Pros and Cons
Pros
- No need to share your banking details online
- Once set up, you can using your Sofort account easily time and time again
- Quick deposits and speedy withdrawals
- Accepted at many online casinos
Cons
- Online banks highlight some issues with security
- Not every online casino accepts Sofort
Security
Security is very important over the internet when it comes to sending money, and Sofort is in complete recognition of this. The idea of Sofort is that the merchant you are paying does not get to receive any of your important financial details, such as credit/debit card numbers, user logins and passwords. In effect, Sofort acts as a barrier between your online banking and the merchant or online casino. All your banking details are opened via your Sofort access page.
In over fifty million transactions over ten years, Sofort has never been subject to a successful fraudulent transaction.
Deposit and Time
Deposits using Sofort are extremely quick – they are as quick as using any alternative online banking system. When you make a deposit using Sofort your money should be available for you to gamble with within a few minutes or so.
Withdrawals typically are not as speedy as deposits, and the swiftness of a withdrawal depends on the withdrawal policy of your chosen online casino. Some withdrawals can be completed within an hour or so, but others may take as long as a week. The standard for eWallets is around twenty-four hours, after a twenty-four to forty-eight hour pending period.
Usability
Sofort kind of acts as a gateway to your bank, so you must have a bank account that has online banking functioning. Once you set up an account with Sofort, you must supply your bank sort code and account number. This will tie your bank account to your Sofort account. You then use Sofort to facilitate your online banking payments.
You may ask why not pay directly from your bank? The answer is, by using Sofort you keep your sensitive banking information away from the merchant, or online casino, for extra security.
Conclusion
Sofort is an extremely secure method of keeping your personal financial information safe. By using Sofort, you do not have to divulge any of your online banking details to the person you are paying, giving you extra peace of mind. There are millions of people who enjoy the convenience of a Sofort account, and you’re very welcome to join them!
