Western Union is another company that is tapping into the increasingly successful e-wallet market for gambling users. The company are actually one of the oldest telegram payment processing options in the world and their history dates back to their 19th century.
Since then they have obviously had to move with the times and more importantly, with technology. These days, whilst still essentially an e-wallet, they work slightly differently than others in their group such as Skrill and PayPal, in that they allow people to fund their accounts from brick and mortar establishments.
What is Western Union and how does it work for online gambling?
As mentioned, Western Union is essentially an e-wallet that allows you to fund an account directly from your bank account. It then means you can deposit funds to countless gambling sites without the need to ever pass over details of your bank account.
There are actually a couple of ways in which you can deposit funds for gambling sites. The first is to physically go to a store that accepts Western Union transactions. These used to be under the name of ‘BidPay’ but now they are called ‘Speedpay’. You will need to have the details of the gambling site that you want to deposit with prior to this step so they can inform you of the account to deposit funds into.
You can do this by using cash so there is no need to ever give personal details over. Once you’ve done this, the transaction will be processed and the money will hit your account.
Alternatively, you can now do all of this online. By setting up an online account you will be given a code that allows you to deposit from your account into a number of different merchants. This means you can keep track on exactly how much is going in and out without having to venture to your local store.
Benefits of using Western Union
Using Western Union means you probably have as tight a hold over your finances for gambling than any other banking method. Most people will opt for the first method of deposit, by simply visiting their local store. Paying in cash for this service means you can determine exactly how much goes into your account. Now, obviously when making any transaction online they only take the exact amount, but it’s sometimes too easy to deposit funds and you can work through more money than you initially thought, just via convenience.
The ability to deposit funds via multiple merchants and not having to have your bank details on these sites is one of the best features of Western Union. Financial anonymity is something that people simply crave for and the security that you get with a prestigious company such as Western Union means you can bank safely and securely at no extra cost.