WebMoney

WebMoney is a digital payment platform founded in 1998. The service offers several options for users, from transferring and receiving money to and from other WebMoney users to applying for loans, making online payments through e-wallets and exchanging currencies.

Over the years, WebMoney has become a popular payment method among online casinos all over the world. Below, we will take closer look at how this modern banking platform works – from fees and registration to support. 

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How does WebMoney work? 

WebMoney offers a universal payment system, making it easy for users all over the world to tranfer and manage their funds. At first, WebMoney was only available on the Russian market, but over the years, the service has expanded to several other markets all over the world.

All registered WebMoney users are – among other things, able to exchange currencies, send and receive funds and apply for loans. The service also issues virtual and plastic debit cards (VISA and MasterCard), making it possible for users to pay with their WebMoney funds.

Besides all this, WebMoney also offers a e-wallet that can be used to settle online transactions, for example to and from a online casino. Since it’s the most popular product on WebMoney casinos, we will keep our focus on the e-wallet in our review.

All you need to do to use WebMoney as a payment method is to register an account. This can be done in minutes and the registration only requires some basic personal information, such as contact details. You also need to choose a password and a preferred currency.

After registration, you will receive a 12-digit WMID (WebMoney Identification Number) which is linked to your e-wallet. Your WMID will be used when logging in, in combination with your password, and using the different features of the service.

Why use WebMoney? 

There are several benefits of using WebMoney when making online payments. First of all, you don’t need to enter your banking details when transferring money online, making your transactions completely anonymous.

Besides that, all transactions are encrypted since WebMoney uses advanced SSL technology.   Therefore, the service can be a great alternative for those who want to feel extra safe when making online payments.

WebMoney also offers fast and simple transactions. If you, for example, make a deposit to your casino account, your funds will be available instantly. Compared to other similar e-wallets, WebMoney also has quite low service fees – only 0,8% of the transferred amount.

Advantages

  • Offers several payment services 
  • Relatively low fees
  • Anonymous and encrypted transactions

Disadvantages

  • System can be a bit advanced
  • Fees apply for most services 

Fees

All transactions using WebMoney are subject to a service fee of 0,8% of the transferred amount. Even thought the fee is quite low compared to other similar payment methods, there still are some options that are completely free to use, such as Trustly.

Besides WebMoneys service fee, some online casinos might have other additional fees when depositing or withdrawing funds. For example, there might be extra charges when withdrawing larger amounts. Make sure to check this before proceeding with your transaction.

Support

If you are experiencing problems with your transactions, you can take a look at WebMoneys extensive help section on their website. Here, you will not only find answers to some of the most common questions, you will also get access to helpful instruction videos and forums.

For those experiencing technical problems, the technical support can be reached by phone. General problems are best solved by registering a ticket.

WebMoney app 

WebMoney offers an application that can be downloaded for free to your smartphone or tablet. Through the app, you are able to manage your e-wallet funds more easily, however, the app only supports a few languages (including English). 

How does WebMoney work with online casinos? 

Even though it’s not the most common payment solution on the market, there are some gambling platforms that have integrated WebMoney as a payment method. Besides the fact that WebMoney offers fast deposits, making the players funds available for play instantly, it’s also completely safe to use. Also, the fees are quite low compared to other similar services.

Below, we will go through how to deposit and withdraw money using WebMoneys e-wallet. 

How to make a deposit with WebMoney

To make a deposit using WebMoney, you only need to follow these simple steps: 

  1. Create an account at a WebMoney casino.
  2. Find the deposit page and choose WebMoney as your preferred payment method (it’s usually categorized as an e-wallet). 
  3. Enter the amount you would like to deposit. 
  4. The WebMoney login page will appear where you enter your login details. 
  5. Confirm your deposit using your WMID. 
  6. All done! Your deposit will be available immediately.   

How to make a withdrawal with WebMoney

Withdrawals are made the same way as deposits, but in the reverse order. However, make sure to check the casinos rules and conditions before making a cashout using WebMoney, since specific terms may apply.

You also need to be aware of the service charge of 0,8%. The processing time for withdrawals vary between different casinos, but usually you will have your funds immediately after the transaction has been approved. 

About WebMoney

WebMoney is a online payment platform founded in Russia in 1998. At first, the service was only available for players in Russia and the former Soviet Union, but over the years is has become a popular payment option for users all over the world.

The headquarters is situated in Moskva and the company behind the service is WM Transfer Ltd. According to the company, the service has over 40 million registered users in 2020.