Based in Stockholm, Nordea Bank AB is one of the largest and most successful financial institutions in Europe. It offers a wide range of banking services and financial products to millions of customers across Scandinavia, Russia and the Baltic region. From credit cards to online banking, Nordea provides its clients with various payment options.
The Nordic bank is now serving a wider market that includes Poland, Singapore, and the US, establishing itself as one of the top rated financial services groups in the world. It is also gaining popularity among gambling enthusiasts mainly from Sweden, Norway, Denmark, and Finland, for its reliability and safety, compared to smaller banks and other payment services providers. Nordea’s online banking service is now accepted by a large number of reputable web-based gambling operators that try to offer players a wider choice of payment options.
There are, in fact, several ways Nordea can be used for online gambling. The bank issues MasterCard and Visa cards, which are widely accepted as a deposit method at most online casinos. However, its online banking service, or Netbank as it is often referred to, is rising in popularity as it is considered extremely secure for the implementation of the so-called Access Codes. Although the bank is present on the international market, as a casino payment method Netbank is offered mostly by gambling providers that operate in the Nordic countries.
How Netbank Works
Netbank is the brand name of the online banking service Nordea provides its customers with. It is available to anyone who has a bank account at one of the financial institutions across the Nordea network. Netbank facilitates the online transfer of funds from the customers’ bank accounts to the accounts of various web-based vendors, including online casinos.
When they register for a Netbank account, users receive from their bank individual Access Codes. The Access Code consists of a User ID and a password, which together identify the customer, and of a one-time security code, which identifies each payment. There is also a confirmation code, which functions like a digital signature and authorizes each transaction. While normally, the Access Code is generated by a card reader, players may also receive a physical card, where all codes are printed down, depending on the country they are based in.
Depositing in Online Casinos via Netbank
Deposits to online casinos via Nordea’s online banking service are quite simple, despite the application of a complex security system. In order to top up their online casino balance, players need to choose Nordea or Netbank from the list of payment options at the Cashier section of the casino site.
They will be redirected to the Netbank login page (their local bank’s website). They can log in using their Access Code or some other credentials, required by the system. Norwegian users, for instance, are asked to enter their 11-digit National ID Number, while Swedish users need to provide their ID number, plus a Response Code.
Players then need to choose the deposit amount and check all transaction information. Using their confirmation code, they will authorize the payment and the transfer will be processed immediately. The funds will be in the casino balance within minutes, which means players can start playing for real money right away.
Deposits via Nordea’s online banking service are free of charge.
Withdrawing Your Winnings via Netbank
Unfortunately for gambling enthusiasts, Nordea does not allow withdrawals from web-based casinos via its Internet banking. Players who choose Netbank as a deposit method will need to use a bank transfer or another payment option if they need the funds moved to their Nordea bank account.
Most credit and debit cards issued by Nordea are MasterCard-branded, so they are accepted in all online casinos where you can see the MasterCard logo. To use this payment option, you need to select MasterCard or Credit/Debit Cards as a deposit method at the casino’s Cashier. Then, you need to enter the card information – card number and expiration date, as well as your full name (optional) and the 3-digit CVV (“Card Verification Value”) code.
Once you confirm the transaction, the funds will instantly be transferred to your gambling balance.
Nordea Mobile Bank Application
Nordea offers its customers to download its mobile application, available for both iOS and Android devices. The Netbank app allows users to make online payments conveniently on their mobile phones, to check their bank account balance or compare different currencies.
The app also gives gambling enthusiasts from the Scandinavian countries the opportunity to fund their casino accounts through their smartphones. Of course, this is possible only with the use of Access codes, available to all Nordea bank account holders.
Using the online banking service provided by Nordea for deposits into online casinos is exceptionally secure. Netbank is regarded by players as one of the safest payment options because its Access Codes provide high-level protection – each one-time security code is generated separately and can be used for only one payment.
In addition, all transactions through the Netbank system are SSL-encrypted, so all personal and banking data remains private between the bank and the user. For further protection, Netbank sessions are closed if the user was inactive for over 15 minutes.
Players who have opted for the Nordea MasterCard may have to pay certain processing fees, as it is with most credit and debit cards. If they carry out a payment in a foreign currency, they will be charged a 2% conversion fee per transaction.
Obviously, one of the greatest advantages of using this system is the security it offers. Cases of fraud and stolen identity are practically impossible, as long as users do not reveal their Access Codes to other individuals.
Another benefit is the lack of processing fees and the fact that players who choose Netbank as a deposit method at their preferred casinos can use a familiar payment interface – their own online banking account.
Nordea currently operates across more than 10 countries, but its online banking service Netbank is available as a casino deposit method to only residents of Norway, Sweden, Finland, and Denmark. In addition, withdrawals via Netbank are not possible.
Nordea and its various payment options, including the online banking service Netbank, are a convenient, fast and secure way for Scandinavian-based gamblers to top up their casino accounts. The popularity of the service is understandable, as this payment system allows for instant deposits, which are absolutely free of charge.