Trustly

Trustly is one of the leading online payment services providers which enable players to make direct deposits from their bank accounts. It’s fast, secure and easy to use as no separate accounts or eWallets need be signed up for. Trustly not only facilitates real-time deposits but also enables instant withdrawals. The company is continuously evolving its offering and has so far treated us to a number of innovative products including Pay N Play solution which eliminates lengthy registration and withdrawal wait times.
Casino Using Trustly's Pay N Play

About the Company

Trustly Group is a Swedish financial technology company founded in 2008 in Stockholm by Carl Jacob Wilsson, Joel Jacobsson and Johan Lukas Fabian Gratte. 

The Financial Times has ranked it „one of the fastest growing companies in Europe on the FT1000 list” in 2017 and 2018. The London Stock Exchange has recognized it as „one of Europe’s most inspiring, fast-growing companies“.

The private equity fund Nordic Capital acquired a majority stake beginning of 2018. Mid-2019 Trustly merged with PayWithMyBank, the leading US online banking verification and payments provider, with the aim of delivering transatlantic online payments coverage. 

This merger should enable 600 million consumers across Europe and the US to pay directly from their bank accounts rather than use credit cards.

Nowadays Trustly supports more than 3,300 banks across 29 European countries and processes about 1.8 million transactions monthly. In addition to Sweden, the company has strong presence in Finland, Germany, Malta, Spain and the UK. This vast coverage has made it a popular solution for online merchants and among them online casino operators, even more so with the launch of Pay N Play concept.

Pay N Play casinos operate without the usual registration procedure. New players only have to make a valid Trustly deposit and can immediately start wagering real cash.

It doesn’t mean an account won’t have to be opened and verified, but instead of asking the player to supply various personal information as well as proof of identity, Trustly and the casino create and validate the account using information from the bank and already verified third party provider data.

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How to Use Trustly

Trustly is a kind of an interface which enables you to execute payments through your online banking service in a simplified manner. In order to use it, you must have an account in one of the supported banks. Providing this condition is met, you’ll be able to make simple deposits and withdrawals at any online casino that offers Trustly as a payment option.

To deposit funds, follow these steps:

1. Login into your online casino account

2. Go to the cashier and select Trustly

3. Choose your country from the drop-down list and then select your bank

4. Enter the amount you wish to deposit

5. You’ll be redirected to your online banking portal and verify the transfer as you normally do

 

Benefits & Disadvantages

One of the main advantages of selecting Trustly as a deposit method is convenience and simplicity. One doesn’t have to register to use the service nor memorize any new passwords or PINs. Payments are executed via the familiar online banking system.

Trustly doesn’t charge any fees and is thus cheaper than many other alternatives available to online players. It can be used for withdrawals as well as deposits so you won’t have to choose another payment option when ready to collect.

Users don’t have to worry about safety seeing that Trustly is under strict scrutiny of the Finansinspektionen , complies with the same security standards as your bank and makes it unnecessary for clients to share sensitive financial information with various merchants.

Trustly’s Pay N Play makes registration and payments simpler than ever by merging account opening and deposit into one. It also enables the speed of withdrawals only cryptocurrency users currently enjoy.

The main disadvantage is that the service isn’t available to everybody. First of all, one has to be a resident of a country in which Trustly operates. Secondly, your bank has to be on the list of supported banks; if not, you’ll have to look for an alternative payment option.

trustly pay n play

Frequently Asked Questions​

Go to trustly.com and select your country from the drop-down list to see which banks are supported.

Deposits are usually processed instantly. Once approved, withdrawals can take from a few minutes to up to 2 bank days to arrive into your bank account.

Trustly will never charge you for making casino deposits and withdrawals but your bank might. Very rarely you’ll find a casino operator that makes players pay a processing fee.

Thus far only residents of the European countries were able to use Trustly, and only if they had a bank account in one of the supported banks. The merger with PayWithMyBank should make the service also available to US citizens.

No registration is needed; just select Trustly from the list of available payment options and approve the transaction via your online banking system.

Is it Safe?

Trustly is a licensed payment institution which operates under the supervision of the Swedish Financial Supervisory Authority (Finansinspektionen) and has to adhere to strict regulations. It’s subject to capital requirements and has to comply with liability clauses. In case of a mistake, Trustly will have to compensate the client.

The company uses the highest encryption standard currently available and never stores any customer information which can potentially be used to access their bank accounts. The execution of money transfer requires strong authentication and a transaction can’t go through unless you provide your online banking credentials. The one-time code is known only to you and won’t be stored anywhere, but even it was, its dynamic character makes it impossible for anybody to use it for initiating another payment.