Believe it or not, the most significant breakthroughs in online banking in Germany and Austria aren’t the result of a single invention or a stroke of genius. E-banking is primarily the outcome of collective efforts. When multiple banks and savings institutions come together, there’s no barrier they can’t overcome. The German payment provider, Giropay, is a prime example of this collaboration. The first decade of this century resembled the Wild West when it came to online security. German banks and savings institutions saw it as the biggest obstacle to the expansion of the entire online shopping industry. Therefore, they joined forces to develop a payment method for the internet that protects users’ online banking data while providing the desired efficiency in transactions and internet usage.
This system has proven to be a great success for online payments in Germany and Austria, especially in online casinos. It is also very popular among poker and sports betting enthusiasts. Our task today is to find out what this platform looks like in 2023, whether Giropay is a practical option for deposits in online casinos, and whether you should use it. Our in-depth review will help you find the best Giropay casinos. By the time you finish reading, you’ll know if this payment service suits you and if you should use Giropay as a payment method online. We wish you the best of luck!
Best Giropay Casinos Accepting Online Payments
In recent years, the company has undoubtedly gained popularity, compelling us to take a closer look at the online casino sites that accept this payment method. We’ve gathered over 30 Giropay online casinos and tested them on all crucial aspects such as credibility, licensing, game selection, bonuses, free spins, and much more. The following list of Giropay casinos includes only legal casino websites that meet our strict casino testing criteria. If you choose one of the Giropay online casinos from this list, you can’t go wrong. Just select your preferred casino bonus offer and get ready for an entertaining casino experience!
Company History
Since its launch in 2005, Giropay has evolved into a German success story in the financial industry. Originally, the brand was a joint project of Postbank (the retail banking division of Deutsche Bank), the Sparkassen Finanzgruppe (savings bank financial group), and the cooperative financial network. This collaboration allowed Giropay to stand out from most other fintech brands right from the start. While bank consortia are no longer uncommon today, the situation was quite different in the early 2000s. Few traditional banks and savings institutions were willing to go online as many people were skeptical about using the internet for their banking needs.
However, with the rise of online casinos and the first online retailers, this online payment method became a necessity for some. The problem primarily revolved around disclosing information because existing security solutions were unable to prevent credit card fraud, hacks, and other types of cybercrime. Giropay quickly responded to address these issues, and their approach immediately became a hit with the German online population. In 2014, the company merged with Austria’s leading online payment system, eps-Überweisung, making the Giropay payment method available in both countries and opening up a potential market of 45 million users.
The year 2019 brought another significant breakthrough for this payment method, primarily due to its new PSD2 interface (X2A). This technological advancement allowed customers of non-member banks to use Giropay and online banking functions. The result is nearly universal coverage for every bank in Germany and Austria, with more and more German and Austrian banks joining in recent years. Currently, around 1,500 Austrian and German financial institutions have contracts with Giropay to use the online banking function. We welcome this development because availability is the best feature you can have with an online casino deposit method.
Giropay News
November 2022: Giropay and Sparkassen launch a digital Girocard for online payments.
December 2021: Deutsche Bank and Commerzbank integrate Giropay, allowing their customers to use it for online payments.
July 2021: The company enables its customers to use Giropay and Paydirekt simultaneously when paying for fuel bills through the eCharge+ app.
May 2021: Giropay and Paydirekt merge under the new brand Giropay. Paydirekt merchants can use both payment methods at the checkout.
Target Audience
At the time of writing this report, Giropay is only available in Germany and Austria. The Austrian part was not initially planned but is not surprising given the close ties between the two countries and their financial institutions. In general, we believe payment method providers should always strive to offer their method in as many countries as possible. Major online banking platforms should always be available to anyone who finds them useful. After all, sharing technology is one of the main reasons technology “grows” in the first place.
In the case of Giropay, it’s not fair to criticize them for not making their online banking platform available worldwide. It’s clearly a consortium of German banks collaborating across borders with Austrian banks. Nowhere have we heard from Giropay or any of its member banks that this payment method is international. Local payment methods are evidently still relevant, and Giropay provides a variety of them for German and Austrian citizens. Giropay is an essential part of the internet landscape in these two countries, and its benefits should not be overlooked.
If you live in or are visiting this part of Europe, we recommend using Giropay as a player. And not just for playing at the best online casinos with Giropay. The cumulative value matters too. Every player wants to make payments easily and effortlessly, whether at a Giropay casino or any other online portal. In our opinion, Giropay fulfills these requirements excellently in both online casinos and with all other merchants.
How to Open a Giropay Account: Step-by-Step Guide
No Account Required: Integration is a word rarely used in the modern fintech industry, although it should play a crucial role in examining and evaluating payment platforms. The need to set up an additional checking account is one of the biggest barriers to full integration.
A username and password are a must for everything we do online. The growing amount of information we need to remember is more of a hindrance than a help. Fortunately, Giropay has achieved this integration without the need to set up a checking account.
Account Number and PIN Required: To use this payment method, you only need your account number from one of the participating German banks and your PIN, along with a valid phone number where a Transaction Authentication Number (TAN) can be sent. We personally like this approach very much because Giropay has not only eliminated a significant hassle for online casino players with the TAN process and TAN generator but also introduced an additional security measure with the transmission of TAN numbers during payments.
Effortless Payments with Giropay: A payment service rarely manages to score high on the simplicity scale, but Giropay has certainly done so. Only three steps are necessary to complete the entire process.
Choose Giropay as your payment method at the online casino cashier.
Enter your bank’s code and your account number.
Log in with your PIN and send the payment.
Receive TAN on Your Phone: This step is part of the process, but it’s so simple that we can describe it separately. When you’re sending a payment, you’ll receive a TAN number on your phone. All you need to do is enter it to confirm your payment.
Payment Complete: After the TAN is entered, the payment is completed in real time, and the money is immediately available in your casino account. You can start playing your favorite games instantly.
Advantages of Using Giropay in Online Casinos
Why should you use Giropay for online casino deposits? Well, there are several advantages to using this payment method, which have made it a popular choice among players in Germany and Austria:
Security: Giropay is one of the most secure payment methods available. It uses advanced encryption and authentication measures to protect your financial data.
Convenience: You don’t need to create a separate account or register with Giropay. You can use your existing online banking credentials to make payments.
Speed: Transactions with Giropay are processed in real-time, meaning your funds are available in your casino account immediately.
Wide Acceptance: Many online casinos in Germany and Austria accept Giropay as a payment method, giving you plenty of options to choose from.
No Fees: Giropay typically does not charge fees for making deposits at online casinos. However, it’s essential to check with your chosen casino for any potential fees on their end.
Disadvantages of Using Giropay in Online Casinos
While Giropay has its advantages, it’s also essential to consider its disadvantages:
Limited Availability: Giropay is only available in Germany and Austria, limiting its usability for players outside these countries.
Withdrawals: Giropay is primarily used for deposits. If you want to withdraw your casino winnings, you’ll need to choose an alternative payment method.
Bank Dependence: You must have an account with one of the participating German or Austrian banks to use Giropay.
Is Giropay a Secure Payment Method?
Yes, Giropay is a secure payment method for online casino deposits. It employs robust security measures, including encryption and authentication, to protect your financial data. Additionally, the use of Transaction Authentication Numbers (TANs) during payments adds an extra layer of security.
Alternatives to Giropay
If Giropay is not the right payment method for you, several alternatives are commonly used in online casinos, including:
Credit and Debit Cards: Visa and Mastercard are widely accepted at online casinos, providing convenience and security.
E-wallets: Popular e-wallets like PayPal, Skrill, and Neteller offer fast and secure transactions.
Bank Transfers: Traditional bank transfers can be used for deposits and withdrawals, although they may take longer to process.
Prepaid Cards: Prepaid cards like paysafecard allow you to make deposits without revealing your financial information.
Cryptocurrencies: Some online casinos accept cryptocurrencies like Bitcoin for both deposits and withdrawals.
Conclusion: Should You Use Giropay for Online Casino Payments in 2023?
If you’re a player located in Germany or Austria, Giropay is an excellent payment method for making online casino deposits. Its convenience, security, and wide acceptance make it a practical choice. However, if you reside outside these countries, Giropay won’t be available to you.
Ultimately, the choice of payment method depends on your specific preferences and circumstances. Consider factors such as security, speed, fees, and availability when deciding which payment method to use at online casinos. Giropay is undoubtedly a top choice for players in its target markets, but players elsewhere may need to explore alternative options.
In summary, Giropay is a secure and efficient payment method for online casino deposits, and it continues to be a popular choice for players in Germany and Austria in 2023.
FAQs (Frequently Asked Questions):
Is Giropay safe to use?
Yes, Giropay is considered a secure payment method. The company employs 256-bit SSL encryption and established security measures like PIN and TAN to ensure the confidentiality of your transactions.
What do I need to deposit in online casinos using Giropay?
To use Giropay in online casinos, you need an online banking account with a bank that supports Giropay. You also require your personal login credentials, a valid TAN (Transaction Authentication Number), and sufficient funds in your account.
Do I need to provide personal information to Giropay?
No, Giropay does not require any personal data from you. Your payments are processed directly through your online banking without the need to share your information with third parties.
Can I make withdrawals using Giropay?
No, Giropay is strictly an deposit method. It is designed to make online payments safe and convenient.
Does Giropay allow chargebacks if I don’t receive the goods or services?
Giropay itself does not facilitate chargebacks in the buyer protection sense. Payments made through Giropay are final and not easily reversible. If you encounter issues with a transaction, please contact the seller directly.
Where is Giropay available?
Currently, Giropay is available only in Germany and Austria. These two countries are the primary markets, and the service is tailored to customers in these regions.
How did Giropay evolve over the years?
Giropay was established in 2005 through a collaboration between Postbank (a subsidiary of Deutsche Bank), the Sparkassen Finanzgruppe, and the cooperative financial network. Over time, it expanded its services and merged with Austria’s leading online payment system, eps-Überweisung, in 2014. In 2019, Giropay introduced its PSD2 interface, allowing customers of non-member banks to use Giropay and online banking functions.
What are the advantages and disadvantages of using Giropay for online casino payments?
Giropay offers secure and straightforward transactions for casino deposits, making it an excellent choice for those less tech-savvy. However, it does not support withdrawals, and it imposes fees on deposits, which some users may find inconvenient.
What sets Giropay apart from other online payment methods?
Giropay stands out due to its strong security measures, such as PIN and TAN authentication, and its direct integration with users’ online banking accounts. It provides a reliable and efficient payment option for online casino players.
Does Giropay offer customer support options?
Yes, Giropay provides customer support via email and phone during specific hours. While there is no live chat, the support team is available for 12 hours on weekdays and weekends, making it convenient for players.
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