The Bank id and Sweden casinos: Is there any nexus?

In Sweden, the government introduced a policy that ensures every citizen has a bank id. The bank id has virtually all your financial data and other information. It was introduced in 2016 and 2018; most casinos in Sweden adopted the bank ID registration method.

Your bank id makes it easier to carry out online transactions etc.

What is the relationship between bank id and online casinos in Sweden?

If you are a new player, it makes the whole registration process simple and fast. In case you don’t know, most online casinos in Sweden are adopting the use of bank id to register at their websites. Sweden online casinos are taking the lead as far as using bank ID’s are concerned.

Going forward we will take a look at how to make deposits and withdrawals, the pros and cons, and so on.

How to make deposits and withdrawals with your bank id?

The first thing is to find out if the online casino offers direct support for transactions with the bank id method. All the player needs is a mobile application with bank ID on your smartphone or your PC. Follow the onscreen prompts and in less than 10 minutes you will deposit funds on the online casino.

In most cases, you don't have to provide your debit or credit card information. Depositing with this method doesn’t require any extra charges.

The withdrawal timeframe differs depending on the method you choose. In most cases, e-wallets are faster than bank transfers and checks. In less than 24 hours you can receive your winnings if you use credit or debit card methods.

The interesting thing about the introduction of bank ID’s is that they are safer, faster and secure. Withdrawals and deposit are concluded in a jiffy. You can learn more about this at Casino Sverige bankid guide where they have covered and informed players about all important information related to online casinos in Sweden and bankid.

Does it require additional cost using a bank ID?

Players are not charged extra or additional fees online casinos that use bank ID either to deposit or withdraw. However, you may pay some charges depending on the banking method you prefer. Nonetheless, assuming you are charge additional fees, it is usually just a small fraction of the amount you are withdrawing or depositing.

Pros

1. You don’t have to fill out lengthy forms to register at an online casino that accepts bank ID

2. Withdrawals and deposits are fast

3. It is safer and secure

4. You don’t necessarily need a user ID or username or password

5. No additional verification to make withdrawals of any amount

Cons

1. A player cannot log in anonymously

2. You may have to share vital information with the online casino

Apart from these few cons, this method is believed to be the safest so far.

Finally, this method has made everything about registering at an online casino, withdrawing winnings and depositing funds much more easier. It also lets the online casino know the kind of player they are dealing with. To login to your casino account, all you need to do is to remember your bank ID. There is no need for a password or username.

It is that simple!

Only players who decide to remain anonymous may not fancy this new method. Always stake responsibly!

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.