BankID Casinos

What is BankID?

The BankID system is an identification solution, invented by a range of major banks in Sweden. Even though it is familiar mostly among online players and buyers as one of the top payment methods, it is essentially a way for banks to identify their account holders and confirm the secure use of their private information and funds prior to actually transferring them. You may of heard of PayNPlay by Trustly, its a similar thing.

The BankID system was practically developed by the following banks:

• Danske Bank
• ICA Banken
• Ikano Bank
• Länsförsäkringar Bank
• Nordea
• SEB
• Svenska Handelsbanken
• Swedbank
• Sparbanken Syd
• Skandiabanken
• Ålandsbanken.

Along with other banks promoting this option, the BankID solution has been able to accumulate quite the user pool – 7.5 million to be more exact. Each of them is able to make use of its unique technology and mechanism.

After all, the BankID basically works as a digital identification option, allowing people to prove their identity through security signatures. As a result, the service has been successfully integrated into a range of banking, government, municipality and even entertainment platforms. Each of these perform the signature identification for their own needs, but online gambling are definitely among the ones getting the most out of it.

BankID in Online Casinos

Online casinos for Swedish residents are constantly working to offer greater diversity to their product offering, and thus increase player satisfaction. One key aspect in this mission is their Banking section and the payment methods offered there. Normally, in modern times such as these, they consist of the standard credit and debit card offerings, as well as wire banking, along with more modern options the likes of e-wallets and payment processors.

How Does It Work?

The BankID solution is more than a payment method – it is an entire identification mechanism that allows players at these casinos to practice online gambling entertainment without signing up. In other words, any BankID holder needs to hold an account with one of the supporting banks for the service, meaning their BankID account would directly be connected through the regular bank account. That way, it gets all financial and identification data it needs, and gets them securely to the end destination, such as online casinos.

Nevertheless, unlike other regular online casino signup procedures, it doesn’t require sharing personal ID documentation, bank account numbers or the likes. All you need to do is input your social security number – for Sweden, it is the national ID number – and the BankID associated with it will allow you instant access into your casino of choice.

Deposits & Withdrawals

Considering that the access to the BankID casino platforms is as instant as it gets, deposits and withdrawals are expected to go just as smooth. Regardless whether you’ve chosen to access the site with or without registering first, you will be able to go straight to the banking section and fund your online casino endeavors instantly – the BankID is already linked to your bank account, so you just need to enter the amount you wish to deposit.

Withdrawals are just as fast, as players don’t have to wait authorization from third parties – they request the funds straight from the casino platform, and as soon as they are approved, they land on the bank account.

Pros & Cons

The ease of access, lack of fees and the highest degree of security that are practically the pillars of the BankID service are bound to be considered as some of its beneficial qualities. What is more, the same is available on casinos optimized for mobile devices, smartphones and tablets alike, through the Mobile BankID option.

With all that, only players who feel uncomfortable sharing any information with the casino platform could be put off trying out BankID. Geo-location restrictions are the other inconvenience accompanying this e-ID solution. Yet, they are far from measuring up to the numerous advantages and benefits of the overall service.