Multibanco is Portugal’s most popular interbank network of payment. It was launched in 1985 and operated by the SIBS (Sociedade Interbancária de Serviços S.A in Portugal) allowing various services like ATM cash withdrawals to online payments.
However, it is the most renowned and secured method for making both offline and online payments. Hence, it has gained popularity among internet gamblers willing to make transactions for deposit and withdrawal at online casinos.
Multibanco never shares any banking or card payment over transactions. This level of security offered by Multibanco makes it top of the chart in the realm of online casinos. Although, Multibanco is only open to the current account holders of a Portuguese bank.
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Advantage of Multibanco for online casinos
Multibanco is a famous payment system in Portugal that offers various benefits for online casinos.
Here are some of the key advantages of making online casino payments via Multibanco:
- Convenience: Being a widely accepted payment method in Portugal and already having Multibanco cards among numerous players makes Multibanco a convenient and familiar payment option for players.
- Security: Multibanco payment has multiple layers of encryption and verification makes it a highly secured system that protects user information simultaneously preventing fraud.
- Speed: Multibanco processed payments are rapid and allows players to make deposits and withdrawals promptly.
- Lower fees: Transaction fees are typically low that makes Multibanco an affordable payment option for both players and online casinos.
- Bonus offers: Many online casinos in Portugal offer special bonuses and promotions for players who use Multibanco to make deposits. This provides an added incentive for players to use this payment method.
- No chargebacks: Multibanco payments are final and cannot be reversed, which eliminates the risk of chargebacks for online casinos.
Overall, Multibanco is a reliable and secure payment system that offers a number of advantages for online casinos in Portugal.
By accepting Multibanco payments, online casinos can attract more players, increase their revenue, and provide a more convenient and enjoyable gaming experience for their customers.
How to open a Multibanco account
Opening a Multibanco account is a straightforward process that can be completed in person at a bank branch.
To open a Multibanco account, you will need to follow these steps:
- Choose a bank: Multibanco is offered by a number of banks in Portugal, so you will need to choose a bank that offers this service. Some of the most popular banks that offer Multibanco include Millennium BCP, Caixa Geral de Depósitos, and Santander Totta.
- Visit a branch: Once you have chosen a bank, you will need to visit a branch in person to open your Multibanco account. You will typically need to bring identification, such as a passport or ID card, and proof of address, such as a utility bill.
- Complete the application: You will be asked to complete an application form to open your Multibanco account. This will include information such as your name, address, and contact details.
- Receive your card: Once your application has been approved, you will be issued with a Multibanco card. This card can be used to make payments and withdraw cash from ATMs across Portugal.
- Set up your PIN: You will need to set up a PIN for your Multibanco card in order to use it for transactions. This can usually be done at the bank branch where you opened your account.
By following these steps, you can start using Multibanco to make payments and withdrawals across Portugal.
How to deposit at multibanco casino sites
Multibanco casinos execute the deposits in an effortless way. Here is step by step mentions on how you can make an online payment transaction :
- First, open an account with MBNet to deposit at a Multibanco casino.
- In the second step it is required to provide all the necessary information for generating a virtual card that can be used once or regularly. The virtual card comes with validity for 1 to 12 months and with the logo of American Express, Visa, or Mastercard.
- In the third step, the virtual card has to be registered at an ATM or on the site of the bank. Registering the card will enable the card to be used for making deposits at online casinos that accept Multibanco.
- Then select one of the accessible online payment methods to deposit at the cashier page of casino Multibanco or the logo of the virtual card.
- Lastly, enter the desired amount for making the transfer and confirm transaction after being in control of your Multibanco account.
Speaking of online casinos that allow Multibanco deposits, after confirming the transaction the money is transferred in mere seconds.
What is Mbway?
MB WAY is a widely used mobile payment service in Portugal developed by Portuguese banks.
It has become a popular alternative to traditional payment methods allowing users to make instant and secure money transfers between individuals, pay for purchases in physical stores or online, withdraw cash from ATMs, and even split bills with friends. The service works through a smartphone app, which is linked to the user's bank account and phone number.
In terms of using MB WAY, users must first download the app and register with their bank details. Once being registered in the app, they can start sending and receiving money through their phone to make payments to their participating merchants.
Multibanco Deposit Fee
Multibanco is considered to be a convenient and cost-effective payment system in Portugal, with low fees and widespread acceptance at merchants and ATMs across the country. Still deposit fees are determined by the individual banks that issue the Multibanco cards.
Some banks or casinos may charge a small transaction fee for deposits made through Multibanco, while others may offer this service for free. These fees can vary depending on the bank and the type of account that the cardholder has. In general, Multibanco deposit fees are relatively low and may be waived for certain types of accounts or for frequent depositors.
Multibanco Withdrawal Speed
Typically, Multibanco withdrawals are processed quickly, with most transactions being completed within mere seconds.
However, the withdrawal speed with Multibanco depends on a few factors like location of the ATM, the amount being withdrawn, and the time of day. During peak times or in high-traffic areas, there may be longer wait times or delays in processing transactions.
Supported countries for Multibanco
Multibanco services are primarily limited to Portugal, still there are a few instances where the network can be used internationally or by Portuguese nationals living abroad.
Here is a list of countries where Multibanco is supported, along with some details about the payment system:
- Portugal: Multibanco is the most widely used payment system in Portugal, and it is available at a wide range of retailers and online casinos.
- Angola: Multibanco is available at some retailers and online casinos in Angola, but its use is limited.
- Cape Verde: Multibanco is available at some retailers and online casinos in Cape Verde, but its use is limited.
- Mozambique: Multibanco is available at some retailers and online casinos in Mozambique, but its use is limited.
- São Tomé and Príncipe: Portuguese nationals living in São Tomé and Príncipe may be able to use Multibanco for certain transactions.
- Spain: Multibanco is not widely available in Spain, but it may be possible to use it at some retailers and online casinos.
- Brazil: Multibanco is not available in Brazil.
- France: Multibanco is not widely available in France, but it may be possible to use it at some retailers and online casinos.
- Italy: Multibanco is not widely available in Italy, but it may be possible to use it at some retailers and online casinos.
- Switzerland: Multibanco is not widely available in Switzerland, but it may be possible to use it at some retailers and online casinos.
Multibanco Casino Bonuses
Multibanco casino bonuses can come in a variety of forms, including deposit bonuses, free spins, and cashback offers.
To take advantage of Multibanco casino bonuses, players simply need to make a deposit using their Multibanco card and enter the relevant bonus code or select the bonus offer during the deposit process.
It is important for players to carefully review the terms and conditions of any bonus offer to ensure that they understand the requirements and restrictions associated with the offer.
Multibanco alternatives
Multibanco payment system specific to Portugal, but it is not available in other parts of the world. However, there are available alternatives that offer similar functionality and convenience.
Here are a few examples:
- Bankcard: Bankcard is a widely used payment system in Germany, Austria, and Switzerland. It is similar to a debit card and can be used to make purchases at retailers and online.
- Interac: Canada’s popular payment system Interac allows users to transfer money between bank accounts, pay bills, and make purchases online or at retailers.
- iDEAL: iDEAL is widely used in the Netherlands allowing users to make online payments directly from their bank accounts.
- AliPay: AliPay is China’s popular payment system, similar to PayPal and allows users to make purchases online and transfer money to other AliPay users.
- Apple Pay: Apple Pay is a payment system that allows users to make purchases using their iPhone or other Apple devices. It can be linked to credit or debit cards and used at retailers and online.
These alternative payment systems offer similar functionality and convenience to Multibanco, allowing users to make secure payments online and in-store. While they may not be available in every country, there are many alternative payment systems that offer similar functionality in other parts of the world.
