Last updated: 13 April 2021
Other than bright-eyed startups and major card providers, bank consortiums seem poised to be another major player in the global fintech market. What they lack in innovativeness or global reach, they make up in stability. Such is the case with Euteller, the product of a six-bank consortium in Finland. This particular platform rose to prominence due to the fact that users were displeased with the fact that they had to reveal their card details to each and every merchant. As hackers became more skilled and more devious, online casino players and online shoppers alike were looking for a way to shield themselves from potential credit card fraud. And it worked!
Euteller became an instant hit, and one of the staples of the Finnish iGaming scene. With that in mind, we believe that this payment method deserves a thorough review. Thus, in the following sections, we’ll cover all the intricacies of Euteller, including the best Euteller casinos, and the best bonuses they offer. So, sit back, relax, and soak in as much as you can!
Euteller was founded in 2007, as a collaborative project. It was started by eight of the biggest Nordic banks: Ålandsbanken, Aktia, Danske Bank, LähiTapiola, Handelsbanken, Nordea, OP-Pohjola Group, and S-Pankki.
At the time, this was an unprecedented move in Finland. Like in every country, these banks were competing for customers and racing to offer the very best deals to them. It became evident that this sort of business model was detrimental to users, as well as the banks themselves, due to the cannibalization of each other’s account holders.
There was also one issue that remained unsolved in the early-to-mid 2000s. Of course, we’re talking about credit fraud. As Finland is one of the most progressive countries in terms of financial services, the eight-bank consortium released a security-oriented platform way before a similar thing was available in other countries.
Thus, it can be said that Euteller influenced the creation of products such as iDEAL (Holland), Blik (Poland), and even Sofort (Germany). Given the fact that all of these platforms are the most popular payment methods in their respective countries, there’s no doubt that Euteller is a trail-blazer in this particular niche.
In the early 2010s, Euteller officially became the most popular platform for online purchases. Around the same time, they reached the 15 million completed transactions milestone, which is yet another testament to the feasibility of safe and efficient payment processing services.
Euteller is currently available only in Finland. Again, we reach the same dilemma we encounter with all regionally-oriented payment methods. Is it fair to view this as a flaw, given the fact that Euteller was started by Finnish banks, and meant for Finnish citizens? From an ethical standpoint, the answer is no. Throughout the company’s official website, their focus is only on Finland, without any mentions of international expansion or any similar aspirations, for that matter. It’s great to see them completely dedicated to their home market.
However, we can’t ignore the efforts made by similar payment providers, such as BLIK, Poland’s most popular transaction platform. In 2019 and 2020, they signed deals with both PPRO and MasterCard, which effectively allowed them entry to markets beyond the borders of their country. Why did we use this example? Well, not only do BLIKand Euteller share many features and characteristics, but Blik’s forthcoming foray into foreign markets shows that such a thing is possible.
Therefore, we think that it’s shame Euteller hasn’t thought about expanding elsewhere, but we respect their primary goal, which is giving Finnish casino players a quick and safe way of making deposits and withdrawals. The only available currency is EUR.
No account required
One of the best things about Euteller is that you’re not required to create an account if you wish to use the platform. Even though we have password manager apps nowadays, it’s still a bit tedious to have to store and memorize such sensitive information.
As insignificant as it sounds, every new username-password combo that you have to memorize increases your chances of forgetting it. This can lead to being unable to log in, which leads to hassles such as password recovery, and whatnot.
You do need a bank account
To make deposits at Euteller casinos, you only need to have a valid bank account at one of the following banks: Aktia, Ålandsbanken, LähiTapiola, S-Pankki, Nordea, Handelsbanken, Danske Bank, OP-Pohjola Group.
Chances are you are already a member
Compared to situations with other Bank-supported payment methods, Euteller boasts excellent coverage. There’s a sky-high chance that you’re a customer of one of these banks, so you won’t have to switch to another.
Usually, we would consider this a limitation, but the country-wide availability is a great plus, which we wish other platforms would take notice of.
Euteller really sets the standard when it comes to easy deposits. We believe that this is an important characteristic that every payment method needs, and is especially beneficial to rookie players.
Without too many convoluted instructions, logins, and extra steps, you can start playing with just a few clicks. Here’s how to fund your account at casinos that accept Euteller:
- On the Deposit/Banking/Cashier page of your casino, pick Euteller as your preferred payment method.
- Once you do that, a list of all Euteller member-banks will pop up. Click on the one that you’re a customer of.
- You will be redirected to your bank account. Enter the amount you wish to deposit, your PIN code, and confirm the transaction. The money will instantly be added to your account, and you can start playing!
As simple as it is to boost your account balance with Euteller, there is a significant tradeoff, which we believe is the biggest downside of this entire platform – you can’t withdraw your winnings.
You see, Euteller was designed to be an intermediary, a payment processing service that handles the transactions between merchants and customers. When you’re using a bank transfer or a credit card to deposit at online casinos, sites have direct insight into your information. Not only is this risky if you’re trying out a new casino, but hackers can also get a hold of your data in case of a cyber-attack.
Euteller, on the other hand, processes the information and doesn’t reveal anything to online casinos. While this lack of withdrawals can be a deal-breaker, it’s not that hard to use another method of claiming your winnings, such as PayPal, ecoPayz, or another eWallet.
Euteller imposes a flat fee of 1.95% for every deposit you make. Compared to other popular payment platforms, this is a bit high. High-rollers, in particular, will feel this financial burden, as they will be forced to give a significant amount of their money to Euteller.
Usually, we would be against such high percentages being taken away from casino players, but Euteller is a company that cares about security. They have a functional and efficient platform, which is good enough evidence that these fees are being invested wisely.
If you’re more of a casual player, you needn’t worry about Euteller fees. It is only when you reach digits upwards of €2,000-3,000 that these costs will be felt. Therefore, Euteller is neither good nor particularly bad in this department.
All Euteller deposits are instant, as the platform is designed to instantly clear every transaction you make through your bank account. This is great for every player that’s anxious to start playing, as you won’t have to wait for processing.
However, there is a potential obstacle that doesn’t depend on Euteller itself. Some casinos like to impose manual security measures, such as verifying the identity of new deposit-makers by requesting them to provide proof of identity. Once you send an ID scan or a bank statement to the site, you might need to wait 24-36 hours for them to give you a green light. Keep that in mind before you create an account. You can usually find more information about these protocols in the site’s T&C section.
In terms of limits, Euteller is amongst the best modern payment methods. The minimum amount which you can deposit using this service is only €1. While this is significantly lower than the €10 threshold most platforms impose, you should be aware that casinos generally don’t allow such small deposits. Generally, Euteller casinos revolve around the €5-€10 minimum deposit limit, with the expectations being few and far between.
As for the maximum amount you can deposit, it’s also quite surprising – €20,000. This is great news for all you high-rollers who like to break the bank. However, individual casinos also have their own maximum limits, which vary from site to site. If you like betting big amounts, you should aim for casinos that are in line with Euteller’s threshold.
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This is definitely one of Euteller’s strong suits, as the company is fully licensed and compliant with the Finnish Financial Supervisory Authority (FIN-FSA). They are also regularly audited by third-party watchdogs, and invest a hefty amount of their resources into protecting customers and their data.
In addition to this, Euteller also has in-house developed Anti-Money Laundering (AML) systems, which work in unison with their fraud control software. Not only is this company compliant with national and international regulations, but they also go above and beyond to ensure that the Euteller platform isn’t used for any criminal or nefarious activities. Great job, guys.
One thing we found disappointing when reviewing Euteller is that they don’t offer live chat support. Whether it’s a casino or a payment provider using it, live chat provides by far the most effective and immediate way of communicating with one’s customers. When you think about how much do they invest in security and compliance, it’s surprising that they don’t add a client such as ZenDesk to their well-designed and smooth website.
You might also notice that they don’t have a FAQ section. Obviously, this might be considered a flaw, but Euteller does a wonderful job explaining all the intricacies of their features. Due to such great execution in terms of written content on the homepage, there aren’t any questions left unanswered. Generally, all of Euteller’s agents are polite and well-trained, with everyone being fluent in English and Finnish. Response times are lightning-fast during working hours, where all emails sent after 16:00 are responded to immediately once the next workday starts.
Not many casinos offer Euteller, mostly because Finland has a population of ~5 million. This means that they don’t have as many online casinos per capita, as some other countries do. Therefore, player reviews are pretty scarce. Nevertheless, we were able to find them and analyze their contents.
Most casino players are delighted by the fact that you don’t need to create a separate account or use an app to make deposits. Praises were also directed at Euteller’s instant deposits, but there were a few individuals critical of the fees involved. Also, players aren’t quite happy with the fact that you can’t withdraw money using this payment method, which is in contrast to other European platforms, such as Blik.
There have been no records of fraudulent activities or data breaches, but we did see a few reviews that were negative due to payments not being instant. While we understand people’s frustration in these cases, it’s no factual to claim Euteller is at fault here. The platform processes transactions instantly, and it’s actually the casinos themselves that are to blame for any delays.
All in all, casino players have mostly positive things to say about Euteller, which further reinforces us to recommend it as a legitimate and reliable deposit option.
Here’s where Euteller falls short, at least compared to similar payment methods. One of the only available extra features is that you can use Euteller to fund your bank cards, both credit and debit. If you’re looking to transfer money for needs unrelated to online gambling, then this is a great option for maintaining the security and integrity of your personal information.
Euteller has also recently launched Siirto, a Bank-supported feature which allows the option of P2P, just by using a valid phone number. This is eerily similar to Siru Mobile, another Finnish fintech brand, which also specializes in smartphone-based transactions.
By doing research, we also found out that Euteller is technically available to customers in other countries, but only through a special request process. Online casinos from outside of Finland are freely available to request collaboration with Euteller if enough players are interested in using this particular payment method.
This is most likely aimed at casino sites in countries with a large Finnish diaspora, such as Sweden, Norway, and Estonia. It’s unclear when or if this expansion will occur, but it’s nice to know that it’s indeed a possibility.
Euteller is perfectly capable of handling copious amounts of mobile traffic, as all transfers are actually handled by your eBanking app or desktop website. You can view Euteller as merely a gateway that allows your smartphone to become a vessel for various financially-related deeds.
As such, we consider it to be a great mobile payment service, which needs just a few more extra features and perks to be considered one of the best in Europe. Mobile casinos also accept Euteller deposits, so you’ll basically be able to do everything from the palm of your hand.
- Euteller uses more than 30 different programming languages and technologies to support its services, including Viewport Meta and SPF.
- The company's total revenue for 2019 amounted to $3.83 million.
- Euteller is consistently hovering around 65,000, in terms of placement on the Alexa Website Rankings list.
- More than 200 online casinos accept Euteller as a deposit method.
- Most of the time, when you try to make a withdrawal via Euteller, you will be directed to carrying out a bank wire transfer. You may need to input a Finnish IBAN.
- Euteller holds a license issued by the Financial Supervisory Authority (Finanssivavlonta or Finansinspektionen) in Finland.
- Unlike other payment options like Neteller or Skrill, Euteller does not come with restrictions on casino bonus offers.
Absolutely, the platform works in sync with apps provided by various Finnish banks. You just have to select Euteller as your desired payment method and okay the transaction in your eBanking app. It’s designed for mobile use, after all.
Currently, casino players have no such options. However, you can use an eWallet or another available payment method to claim your winnings. Cryptocurrencies are also a great option if you prioritize security and anonymity
Yes, Euteller is licensed by the Finnish Financial Supervisory Authority (FIN-FSA). This means they’re fully compliant with Finnish financial laws and regulations.
No. You don’t need to download an app or create any sort of account if you wish to use Euteller. The only necessity is being a member at one of Euteller’s eight bank-members.
With Euteller, you can only make transactions in EUR, which is the Finnish national currency.
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