Swedish provider Klarna is starting to become more widely used for making deposits in the world of online casinos. The service is probably best known for its ‘buy now, pay later’ option for online shoppers. This option is obviously far too good to be true for online gambling! As well as offering this service, though, Klarna has an instant bank transfer function which is becoming increasingly popular as an online payment service. It has become more widespread since the company’s merger with German financial providers SOFORT in 2014.
Read on for our thoughts on this payment method and practical tips about how to use it.
Pros of using Klarna Instant Bank Transfer
Very fast transfer time
Klarna offers a frictionless service: funds are transferred immediately, thereby eliminating the several hours’ worth of waiting that you might have to endure when transferring directly from your bank.
No fees charged
There are no fees involved when you make a deposit using Klarna. This is certainly one of the biggest selling points of the Klarna Instant Bank Transfer function. Hidden fees are so often a discouragement for those wanting to withdraw smaller amounts, so absence of these, combined with Klarna’s super-fast transfer speed, is a massive advantage to online gamblers.
No need to create an account
Since Klarna is not an eWallet, you do not need to create an account into which you then transfer funds. All you do is use your bank details to check out; the money is then transferred directly to the casino. This saves some effort on the player’s part and makes Klarna a very easy service to use; on top of that, it further enhances the safety and security of the platform, since there are no potential personal details to be divulged.
Secure payment option
Financial transactions made with Klarna will always be protected by encryption and payment records will be stored securely. In addition, as mentioned above, there is next to no potential for fraudulent activity since no personal details are required in order to make a payment.
Cons of using Klarna Instant Bank Transfer
Possible fees charged by bank
Although Klarna itself does not charge any processing fees, you may need to double-check with your bank to see if they impose any transaction fees.
Making a deposit using Klarna
- Choose your country and bank from the options on the available list.
- Enter the login details from your online bank account.
- If prompted, enter the confirmation code sent to you via text message or email.
- Your funds have now been instantly transferred to your online casino account.
Using Klarna to withdraw winnings
Some casinos will allow you to use Klarna’s partner platform SOFORT to withdraw the money that you win. The process is simple:
- Open the cashier page on the website and select Klarna or SOFORT from the list of options.
- Type your account details into the box that pops up.