Multibanco
The payment system known as Multibanco is an interbank network headquartered in Portugal and managed by SIBS. It provides diverse services to its users, including ATM withdrawals and digital transactions. To access Multibanco, one must have a valid bank account in Portugal.
Multibanco is compatible with almost all banks operating in Portugal, making it a highly popular payment option within the country. Multibanco is already accepted by many European casinos for both depositing funds and withdrawing winnings. As a fully licensed and regulated payment system, it is authorized for use throughout the European Union. Multibanco processes millions of online transactions annually.
Multibanco: Portugal’s Top Payment Method
Multibanco is the top payment method in Portugal, and it originated from a collaboration among major banks in the mid-1980s. Initially, 12 ATMs were installed in Lisbon and Porto to allow customers to withdraw cash easily. Over the years, the network expanded, offering additional services such as bill payments and phone top-ups, and by 2014, there were over 12,700 ATMs across the country.
Multibanco’s foray into the digital realm began with MB Net, which enabled users to make online payments through a virtual debit card, powered by either Mastercard, Amex, or Visa. Later on, MB Way was launched, providing more advanced features such as instant transfers, QR code payments, and contactless transactions. Customers could even withdraw cash by scanning a QR code with their mobile devices at an ATM.
Today, Multibanco is one of Europe’s biggest payment processors, handling transactions worth more than 4.5 billion euros annually. Its logo is ubiquitous on the internet, and it’s a popular payment option in many online stores.
How to Sign Up for Multibanco
Multibanco is exclusively available to individuals who possess a valid Portuguese bank account. To open a new bank account, most Portuguese banks require customers to visit a nearby branch. However, a few banks allow individuals to register online.
Anyone who has a bank account in Portugal can use Multibanco for online transactions, including purchasing goods or transferring money. Those who possess a Portuguese bank account can conveniently leverage Multibanco to deposit funds into their online casino account. To initiate a payment through Multibanco, you simply need to access the Multibanco portal and log in using your existing bank account credentials.
Using Multibanco for Deposits and Withdrawals at Online Casinos
In order to use Multibanco for making deposits or withdrawals, you must have an active Portuguese bank account with sufficient funds. Fortunately, many European online casinos accept Multibanco as a payment option, allowing users to use their Portuguese bank credentials to make deposits and withdrawals. However, there is a daily spending and withdrawal limit of €400.
To fund your online casino account using Multibanco, follow these simple steps:
- Choose Multibanco as your deposit method.
- Log in to your Multibanco account.
- Go to the ‘cashier’ tab and select ‘deposit’.
- Enter the deposit amount and any bonus or promo code if available.
- Click ‘deposit‘ to receive a unique entity number and payment reference needed to complete the Multibanco deposit.
It’s important to note that Multibanco currently only supports transactions in euros, and other currencies cannot be used for depositing or withdrawing. Therefore, make sure to have euros in your Portuguese bank account before using Multibanco for online transactions.
How to use Multibanco in online casinos
To make a deposit into an online casino that accepts Multibanco payments, you’ll need an active MB Net account. The deposit process is quick and easy, and can be completed in just a few steps:
- Navigate to the casino’s banking page and select Multibanco as the payment method.
- Enter your desired deposit amount.
- Input your virtual card details.
- Double-check all information and confirm the transaction.
- Typically, the funds should appear in your casino balance almost immediately. If not, contact your bank or the casino for assistance.
Multibanco withdrawals are also possible, but not all Multibanco casinos offer this option. Check the casino’s terms and conditions or contact customer support before attempting a withdrawal. The process for withdrawing funds is similar to making a deposit.
Pros and Cons of Multibanco for Online Gambling
Advantages:
- Users can set a fixed maximum amount to reduce the risk of fraud and theft
- Daily or weekly limits can help promote responsible gambling
- Transfers are instant, allowing quick access to winnings
Disadvantages:
- Multibanco can only be used with a Portuguese bank account
- Opening a bank account in Portugal may require a large initial deposit and monthly fees
How to Locate Bonuses Offered by Multibanco Casinos
For online casino enthusiasts, discovering bonuses can be a great way to add extra value when signing up with a new platform. Multibanco casinos provide various kinds of bonuses, including deposit bonuses, and no deposit bonuses for registering.
To locate these promotions, visit our comprehensive list of casino bonuses and apply the “Multibanco” filter. You’ll be presented with a complete list of Multibanco bonuses, which can be filtered by their category. For example, to view only no deposit bonuses, select the “No Deposit Bonus” checkbox under the “Bonus Type” section. Similarly, you can access the same offers by navigating to our no deposit bonus list and applying the “Multibanco” filter.
Availability
Multibanco is a popular payment method among numerous online casinos in Europe, including some of the most prominent names in the industry. In addition, many global gambling platforms allow users to deposit and withdraw funds via Multibanco, making it advantageous for individuals to have a Portuguese bank account due to the fast and secure features associated with this payment option.
Multibanco Payment System Security
Multibanco payment system employs advanced encryption techniques to protect user data during transfers. This ensures that unauthorized parties cannot access sensitive personal and banking information. One significant advantage of the platform is that it does not require users to share their data with the online casino they choose to transact with. This adds an extra layer of security to prevent any potential data breaches.
