Trustly Betting Sites in India 2021
Having been around since 2008, Trustly is a payment method which caters for customers looking to make payments directly from their online bank account, without the need for either a card or app. With payments being processed through both PayPal and TransferWise, Trustly has become one of the most popular methods of depositing and withdrawing funds on betting sites, including for punters in India.
Now available in a total of 30+ countries, Trustly has developed an excellent reputation over the years, with this page outlining exactly how the platform can be used by betting customers.
Best Betting Sites which offer Trustly in India
What Is Trustly?
Trustly is an online payment system that was launched in Sweden in 2008. Through Trustly, payments can be made directly from bank accounts, with its speed and availability having seen its popularity skyrocket. Trustly is now available with thousands of different merchants, including the likes of PayPal, Facebook, eBay, TransferWise and eToro. Trustly launched in both Australia and Canada in 2020, with customers in India also being able to take advantage of the services on offer. Trustly generates an annual revenue of over $150 million.
How Does Trustly Work?
Trustly is now connected to all major banks, making it a viable payment method for betting customers looking to transfer funds to and from their account. Using Trustly requires no registration, downloads or credit/debit cards, with just your bank account having to be connected. Trustly now handles some 9 million transactions each month, with the service being available to 600 million worldwide.
History of Trustly
Having been founded in 2008, Trustly initially operated strictly in Sweden, having originally been known as Glue Finance. The company completed its first investment round in 2009, which helped to launch their second generation technical platform. With revenue having grown by some 200% in 2010, Trustly broadened its horizons, opening its first office outside of Sweden, in Malta. Investment Group Alfven and Didrikson brought 25% of the company in 2011, while three years later, Trustly secured a partnership with Groupon and PayPal. Pay N Play was established in 2016, demonstrating Trustly’s willingness to cater for betting customers. Trustly was one of Europe’s fastest growing companies in 2017, which led to Nordic Capital purchasing a majority stake in 2018. Since then, Trustly has merged with PayWithMyBank, allowing them to accept payments in the US and other regions.
Trustly Betting Sites in India
Betting customers in India can use Trustly to deposit and withdraw funds on an increasing number of gambling sites, with the lack of fees and simplicity making it an increasingly popular option. Users can rest assured that payments are processed securely, with Trustly being authorized by the Swedish Financial Supervisory Authority, while also holding a license from the European Payment Services Provider.
Advantages & Disadvantages of Using Trustly
Now that you understand exactly what Trustly is and how it works, it is time to take a look at the benefits and limitations of the payment method. For betting customers in India, the following are the main advantages and disadvantages of using Trustly:
Trustly in Betting
Trustly is an excellent payment system for betting customers, with its speed and ease of use having attracted a host of punters and bookies to date. The fact that it accommodates both deposits and withdrawals is also pleasing, something which cannot be said of some other payment methods. Using Trustly to fund your betting activity is very straightforward, with no account being needed, just your online banking details.
How to Deposit & Withdraw Funds Using Trustly
The process for depositing and withdrawing money via Trustly is very simple, however it does take time to get used to, especially given its unique style. With that being said, we have put together the following step by step guides, designed to help you along the way:
- Sign up at one of our recommend Trustly betting sites or log in to your existing account.
- Enter the cahier page and select the “Deposit” option.
- Enter the amount in which you wish to deposit.
- Select Trustly as your chosen payment method.
- Having been redirected to the Trustly website, choose your preferred bank account.
- Log in to your online banking account and authorize the payment.
- Confirm your deposit and wait a few seconds for your money to be uploaded.
- Log in to your betting site account once more.
- Enter the cashier page and select the “Withdraw” option.
- Select Trustly as your chosen payment method.
- Enter the amount you wish to withdraw.
- Enter your bank details after being redirected to the Trustly website.
- Wait between 1-5 days to receive your funds.
Is Using Trustly Safe?
The answer to this question is a resounding yes. The Swedish fintech company has built an excellent reputation over the years in this area, with all payments being made legally thanks to a license from the Swedish Financial Supervisory Authority. Trustly also holds a PSP license and is fully compliant with the European Payment Services Directive, while a number of security measures are in place too. These include HTTPS encryption and 2048 bit SSL encryption, which keeps all personal and financial information safe. Meanwhile, the fact that Trustly offers around the clock support is another good indicator as to their reliability.
How to Open a Trustly Account
Another major selling point of Trustly is that the payment method does not require punters to create an account. Instead, users must instead simply provide their bank account details when depositing or withdrawing funds on betting sites. Your online banking login credentials, set up when registering, are needed.
Payments made via Trustly are processed without any fees. This is the case when it comes to both deposits and withdrawals, with it being another one of the most appealing features of Trustly. However, it is still worth looking into whether your selected betting site charges any fee when processing payments.
Alternatives to Trustly
Trustly is growing in popularity for betting customers in India, however there are also a number of attractive alternatives. So, if you are not completely sold on what Trustly has to offer, be sure to take the following payment methods into account:
- Credit/Debit Cards – Credit and debit cards remain the most popular payment method for betting customers, with their convenience and security still being attractive. While small fees are sometimes involved, credit and debit cards are available for both deposits and withdrawals, with the speed of transactions also being pleasing.
- Paysafecard – This prepaid card is also accepted at an increasing number of betting sites available to bettors in India. A Paysafecard card can be purchased in the following amounts: ₹5000, ₹2000, ₹1000, ₹500, ₹200 and ₹100. Paysafecard is a leading name in terms of online prepaid payments, with payments in other currencies being available too.
- E-Wallets – Whether it be PayPal or Skrill, the security, speed and convenience of e-wallets make them another good option for customers at betting sites. Meanwhile, the fact that customers are not required to upload their bank card details to their bookie account adds another layer of security.
FAQ – Trustly Betting Sites in India
Yes. Trustly is licensed and regulated by respected authorities, while also having a host of safety measures in place. Meanwhile, the fact that bettors are not required to enter their bank card details when processing payments adds another layer of protection.
Yes. In order to verify payments, punters must enter their online banking login credentials, with banks then checking that such information is correct.
No. Both deposits and withdrawals processed at betting sites using Trustly are 100% free.
In the event of a payment being declined, be sure that you have entered your online banking details correctly and that you have sufficient funds in your account. If payments are still declined, it may be worth contacting the Trustly customer support team.
Deposits made using Trustly are instant, meaning that there is no frustrating waiting period for punters to endure.
Withdrawals at betting sites using Trustly are likely to take anywhere between 1-5 working days to process. The bookmaker in which you are signed up with will also have an impact on the speed of such transactions.
Tips for Using Trustly
Trustly is likely to be new to many potential users, meaning that there are some considerations to be made before making payments in this way. This is why we have come up with the following tips for using Trustly on betting sites:
- When signing up with a new online bookmaker, be sure that it accepts payments via Trustly beforehand. There is nothing worse than completing the registration process, only to find out that you have to find an alternative payment method.
- Do not use any “Remember Me” feature when logging in to your online banking account via Trustly. Doing so will mean that anyone who gets hold of your device can potentially gain access to your funds.
- Limits when using Trustly will differ between bookies, so be sure to look into this before looking to process a payment, especially if you are looking to transfer a significant sum.
- Look into any potential currency conversion rates that may be involved, which is especially important when operating with an offshore bookie.
- Consider taking advantage of Trustly’s Pay N Play feature. Here, punters can start betting immediately with one quick deposit, with this option also helping punters in completing the verification process and KYC requirements.
Bottom Line on Trustly Betting Sites in India
Trustly is an increasingly popular payment method for transferring funds to and from betting sites. Despite not being a household name in India, Trustly is certainly a platform in which punters should familiarize themselves with. The speed and ease of payments is appealing, with the lack of fees also being a major selling point. Available on both desktop and mobile, we thoroughly recommend taking a closer look at Trustly for yourself, with deposits using this platform often qualifying for welcome bonuses too.