Having been around since 1998, WebMoney is now one of the largest online payment services, facilitating transactions in a range of markets. With around 30 million customers now taking advantage of the services in which they deliver, it comes as little surprise that casino sites have been quick to add WebMoney to the payment methods in which they offer too. This page will deliver useful information surrounding the use of WebMoney, including its advantages and disadvantages. Let’s get things underway by outlining exactly which casino sites available to Canadian players currently offer WebMoney as a method of payment.
Best WebMoney Casino Sites 2024
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LICENSEDWhat is WebMoney? A Brief History
WebMoney was established by Russian-based company WM Transfer Ltd back in 1998, having initially operated as a money transfer system for those using American Dollars, which was becoming increasingly popular after the financial crisis in Russia. WebMoney stores customers money in an online purse, with a variety of organizations effectively acting as guarantors for payments. WebMoney Europe Ltd was granted a license from the FCA in 2015, allowing them to operate across the continent, while 2019 saw the company join the instant transfer ecosystem operated by Sberbank. Meanwhile, WebMoney has also recently introduced a video identification option for customers.
WebMoney in Canada
Despite having been founded in Russia, WebMoney is now a company that operates across the world, including in Canada. Payments can be made in Canadian dollars, while a large number of casino sites catering for Canadian residents have also introduced WebMoney as an accepted method of banking.
Pros and Cons of Using WebMoney as a Payment Method
The following are the main pros and cons discovered by the testing of WebMoney as a payment method at casino sites:
- Different Accounts – Those looking to use WebMoney can take advantage of a variety of different account types, or passports as they are known. Each passport comes with different services and limits, with the Alias passport being given to new customers who successfully verify their email and telephone number. The Formal passport offers a greater number of services, however an identification document must be verified in order to obtain it, while Initial and Personal passports are better suited to those with higher budgets and goals when playing casino games.
- Security – Those using WebMoney to process payments can rest assured that transactions are processed securely, with SSL encryption technology being used throughout in order to ensure that this remains the case at all times. As well as this, WebMoney payments are also 100% anonymous, with no casino sites gaining access to your bank details.
- Growth – WebMoney has grown in popularity massively in Canada over recent years, despite still mostly catering for those based in Russia and Eastern Europe. A significant number of currencies, including Canadian Dollars, are now accepted, while a large number of ATM’s are now accessible to customers.
- Confusing Website – WebMoney does take some getting used to, with their website certainly not being the easiest to use. Despite being available in English and Spanish, it can be difficult to navigate around, while the signing up process also needs work.
- Fees – A number of services are available at WebMoney, however many come with fees, making them less appealing to potential users. A 0.8% fee is charged for withdrawals.
How Does WebMoney Work?
WebMoney is a payment system facilitating online transactions and money transfers, while also allowing users to gain loans and exchange currencies. WebMoney also provides both virtual and plastic credit and debit cards, while an e-wallet can be used to make payments too. Those looking to register with WebMoney must sign up by outlining details such as full name, email address and password, with a 12-digit identification number being used when processing transactions. WebMoney customers are also in a position to create purses, potentially using different currencies, which can generate as many identification numbers as needed.
How to Set Up WebMoney
Those looking to get started with WebMoney must first follow a few steps, which will determine your eligibility, as well as which product best suits your needs.
- Enter the WebMoney website via desktop or mobile.
- Click or tap on the “Sign Up” tab, located in the top right-hand corner of the page.
- Enter your telephone number, before entering the confirmation code in which you receive.
- Enter the relevant personal details, including your full name, email address and security question.
- Verify your new account using the code receiving via text message.
- Verify your email address.
- You are now ready to start using your WebMoney account.
Does WebMoney Charge Any Fees?
A standard 0.8% fee is charged for all transactions at WebMoney, while additional fees may be incurred, however these are likely to differ from casino to casino.
WebMoney Alternatives
For those who are not 100% convinced by the information surrounding WebMoney in which you have read on this page, it may be worth considering some of the other payment platforms available to Canadian players today, with the following being among the best options:
Debit Card – If UnionPay cards do not suit your needs, alternative debit cards may well be a better alternative, with there being a huge number of options available to players in this area.
PayPal – PayPal is perhaps the best-known e-wallet platform on the web, with the American organization supporting online money transfers internationally, as well as offering an alternative to the traditional forms of payment.
Interac – Interac helps to facilitate e-commerce transactions, with a Canadian bank account being required in order for customers to utilize this option. Interac has been around since 1984, with those based in Canada likely to be familiar with what they have to offer.
Best Alternative Casinos with Interac Payment Options
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Casino Bonus Connected to WebMoney Deposits
Unlike with some e-wallet platforms, those using WebMoney to deposit funds for the first time with their casino are likely to be in a position to claim any welcome bonus that is on offer. However, be sure to check out the terms and conditions of a potential casino site beforehand, with bonuses regularly providing an excellent platform to build upon for players, no matter whether you are a beginner or high roller.
Tips and Tricks for Using WebMoney
For those considering using WebMoney, there are certain tips and tricks that will help to ensure that you make the most out of this particular payment method, including the following:
- For those wishing to both deposit and withdraw cash online using WebMoney, be sure to use an ID that you have recently used, as this will ensure that transactions are processed as quickly as possible.
- Never hand out your bank details to anyone, with casino sites only requiring your WebMoney account information when dealing with issues or processing payments.
- Stick to the limits set by WebMoney, which are a $10 minimum withdrawal and a $50,000 maximum withdrawal.
FAQ
Yes, however a small fee is likely to be incurred by players doing so.
A large proportion of the casino sites discussed on our site now accept WebMoney as a payment method, with the complete list being found at the top of this page.
WebMoney is now accepted in Canada, as well as a large number of other countries around the world.
Unfortunately not. Those based in Canada must instead email or use the Ticket System when encountering problems.
Yes, cryptocurrencies are accepted at WebMoney, including Bitcoin.
Final Words on WebMoney Casino Sites
With WebMoney now being available to casino players in Canada, it is little wonder that the payment service is attracting a significant amount of interest, largely due to the ease and convenience of transactions. While fees are involved with the majority of payments using WebMoney, this method of banking online is especially suitable for beginners, with the vast majority of casinos reviewed on our site now accepting it for both deposits and withdrawals.
