What is Trustly?
For those who are not already familiar with what Trustly actually is, the following points are among the most important to know and understand:
- Founded in Sweden in 2008
- Offices in Malta, London, Cologne & Helsinki, with over 200 employees
- Trustly helps to process over 2 million transfers per month.
- Operate in 21 markets across Europe.
- Payment institution operating under the supervision of the Swedish Financial Supervisory Authority.
How Does Trustly Work?
Trustly allows users to make deposits directly from their bank accounts in real time, with all transactions being made over a secure encrypted links, used by all major banks. Trustly does not save any bank details, while they cater for customers in over 29 different European countries. Payments must be authorised before they are completed using Trustly, with the company now working with an increasing number of banks across the continent.
History of Trustly
Established in Sweden by a small group of friends in 2008, Trustly quickly made an impact in the industry. Originally focusing on customers based in Sweden, they announced the introduction of 21 additional countries in 2015, while they now cater for users in a total of 29 countries, with further expansion expected in the near future. By 2016, Trustly was processing over 2 million transactions each month, while just a year later they hit over 10 billion Euros worth of payments. Trustly has also been recognised for its work in the industry over the years, having been named as one of the fastest growing company in Europe by the Financial times in both 2017 and 2018.
Advantages of Using Trustly
There are a number of advantages to using Trustly, with the Swedish platform ensuring for instant deposits, rapid withdrawals and enhanced security. Those looking to deposit cash with their betting site can do so instantly thanks to Trustly, allowing punters to take advantage of ever-changing odds and appealing markets. Access to winnings is also quick with Trustly, something that cannot be said of all banking methods available with online bookmakers. Meanwhile, Trustly’s recently launched Direct Debit feature is perfect for betting customers, especially those who enjoy live betting. Trustly also has a large range of safety measures in place, including SSL encryption technology, which helps to ensure that all transactions processed are done so securely, without the threat of fraud or hacks.
Trustly in Betting
With the UK being one of the countries in which Trustly can be utilised, an increasing number of betting sites have added the payment method to their platforms. Deposits using Trustly can be made at as little as £10, while withdrawals are generally available at the same amount. 12 different banks in the UK work together with Trustly, while in the case of a betting site not offering Trustly as a banking option, a link with PayPal offers an excellent alternative.
How to Deposit and Withdraw Using Trustly
When it comes to depositing and withdrawing cash using Trustly, the following steps must be taken by punters:
Deposits – Those looking to deposit funds using Trustly must first log into their bookmaker account, before accessing the “Cashier” or “Banking” section of their website of mobile app. Having done so, select “Deposit” and choose Trustly from the list of available banking methods. The next step is to select the bank in which you wish to transfer the funds from, before logging into your account using your username and password. Confirm the amount of money you wish to deposit and complete the transfer by verifying your details through your preferred method. Deposits made via Trustly are processed instantly.
Withdrawals – Withdrawals using Trustly can be processed in a similar manner, with the “Cashier” or “Banking” pages of your bookmaker having to be accessed initially. Having selected Trustly as your preferred method of banking, enter the relevant details, along with the amount in which you wish to take home. Verify the payment, with many withdrawals also being processed immediately, with those which are not being transferred using the quickest possible platform.
How Secure is Trustly in Betting?
The fact that Trustly is regulated and authorised by the Swedish Financial Supervisory Authority already demonstrates their reliability, with all customer details and bank information being kept safe at all times. All payments must be verified before they can be processed, adding another layer of protection for users. Betting sites will never gain access to your bank account number or other details, while state of the art payment technology is also utilised throughout, including Payout Express, which means that instant payouts are made across the EEA. Encryption technology is also used at Trustly, ensuring that all transactions are processed safely, without the threat of fraud or third party involvement.
The majority of bank transfers made through Trustly are done so free of charge, while most betting sites also do not charge any fees through this service. Potential charges can occur when withdrawing funds, depending on the bank in which you are using, so be sure to look into this further before any transactions are confirmed and verified.
Alternatives to Trustly Betting Sites
While Trustly does offer a significant amount of advantages, it may not be the right method of banking for all punters. The following platforms also allow for quick, secure and convenient payments, while they also generally have a greater history than Trustly:
How to Set Up a Trustly Account
Undoubtedly one of the most appealing things about Trustly is the fact that users are not required to be set up an account, with the service being available to all who have a relevant bank account. All that is required to process both deposits and withdrawals using Trustly is a bank account and the accompanying login details which have been issued.
Betting Using Trustly FAQ
The following are questions and answers surrounding some of the most talked about topics when it comes to the use of Trustly and online betting, offering readers a better insight into how they work.
Yes! There are a number of security measures in place with both Trustly and betting sites, meaning that all payments are made on encrypted platforms.
The only verification that is required with Trustly is surrounding the relevant bank account, including passwords. Meanwhile, those depositing for the first time on a new betting site may be required to provide another form of verification, including a bank statement or passport.
Those in the UK can look forward to making payments free of charge using Trustly.
Deposits made using Trustly are instant, meaning that there are no frustrating waits when it comes to using your money with your online bookmaker.
Withdrawals are also processed immediately in most cases, however punters may have to wait a matter of days.
Best Trustly Betting Sites Summary
Trusly is a payment service provider with over a decades worth of experience to its name, while a large number of betting sites have also seen just how efficient they, adding them to their platforms as a result. Trustly is likely to meet the needs of a range of punters, both beginners and professionals, with limits, security and speed all scoring highly, based on our testing and expert knowledge in this area.