Lately, we have seen that many new, alternative payment methods have been added to online casino cashiers. One of them is MiFinity, an e-wallet provided by a company founded back in 2002. MiFinity e-wallet was launched in 2016. It is one of the solutions from their portfolio and, undoubtedly, the most suitable one for online gambling.
This page is dedicated to MiFinity and contains a comprehensive guide to how to use it for online casino banking. We have tested the method and prepared an in-detail review based on our personal user experience. If you are interested in learning more about MiFinity and how you can use it at online casinos, you need look no further as we’ve got you covered.
The provider of payment service is MiFinity, a privately held company registered in Belfast, Northern Ireland. The company was established back in 2002, as a provider of multichannel payment services to international merchants. They claim that their solutions are cost-effective and efficient and provided through best-in-class, highly secure and regulated technology platform.
With its headquarters in Belfast and regional offices in Dublin and Malta, MiFinity holds a licence obtained from the Financial Conduct Authority under the Electronic Money Regulations 2011. Over the years, they have established strong connections with the online gambling industry subjects, with more and more platform providers adding them to their Banking sections.
Although there is no information on the number of registered users, MiFinity’s popularity among online casino players has increased as its e-wallet turns out to be a safe and reliable payment option. In 2020, MiFinity obtained a licence issued by the Malta Financial Services Authority (MFSA), approving the company as a Financial Institution that can undertake payment services under the 2nd Schedule to the Financial Institutions Act.
One of the first solutions launched by MiFinity was Money Transfer to China, and in June 2020 they announced a 5-year extension of the global partnership with UnionPay, a Chinese financial services corporation that provides bank card services in mainland China. As for their e-wallet, it is available globally. In 2020, the payment service provider announced that they had added more local payment options to support customers in both Europe and LATAM.
Today, MiFinity e-wallet supports 42 additional local payment options in these regions as well as 11 settlement currencies. Some of the countries where MiFinity e-wallet can be used for online casino transactions include the UK, Australia, Netherlands, Germany, Sweden, Finland, and more. MiFinity casinos Australia are especially popular, which is hardly surprising considering that Aussies don’t have such a wide selection of reputable payment methods at their disposal.
The list of countries where this option is not available is pretty short and includes Afghanistan, Belarus, Congo (DRC), Cote d’Ivoire, Cuba, Iran, Iraq, Liberia, Libyan Arab Jamahiriya, Myanmar, Nicaragua, North Korea, South Sudan, Sudan, Syrian Arab Republic, Turkey, the United States, Yemen and Zimbabwe.
Visit the Mifinity website
Click on the Sign Up button located in the top right corner and get started.
Input your email and password
Create your account
Click on the Create Account button. You will be informed that your registration is accepted and that you will receive an activation email soon with the link you need to click on to finish the registration process.
Verify your email address
Open the email and click on the link. The link will take you to the Login page where you need to enter your credentials to assess your account.
Create a MiFinity e-Wallet
Now that you have logged into your account, you can go on to create an e-wallet by choosing a category and currency you want to use and your personal details, including your name, date of birth, phone number, address and more.
Set your security questions
In the next step, you need to choose security questions and answers you can later use to access your e-wallet.
Verify your account
To access your e-wallet, you will have to enter a verification code sent to your mobile phone number.Keep in mind that the activation of your base account may take a bit longer, as you may not receive an activation link immediately. The same applies to the verification of e-wallet as you need to provide a proof of identity and address such as a valid passport, drive license of ID card and utility bills or bank statements. The KYC verification procedure may take up to 48 hours.
First of all, you will need to top up your MiFinity e-wallet through a range of supported banking methods that include credit and debit cards or local payment solutions. Once you have funds in your e-wallet, you can loginto your casino account and go to the cashier to make a deposit. Choose MiFinity and log in. Enter the amount you want to send to your casino account and confirm the transaction, as simple as that.
Withdrawals through MiFinity function in the same way. At the cashier, choose MiFinity as a preferred cashout method, enter the amount you want to clear from your casino account and log into your e-wallet to complete the transaction. Here is the lowdown on the top 5 online casinos that support MiFinity e-wallet with fees, timeframes and limits listed.
As you can see from the table above, online casinos won’t charge fees on deposits and withdrawals you carry out through your MiFinity e-wallet. On the other hand, the service provider imposes fees on transactions you make to fund your e-wallet or clear money from it. The good people of MiFinity UK have disclosed all the fee rates that apply to deposits and withdrawals on a dedicated page, so take your time and see for yourself what are the best options you can use.
We won’t go into much detail about fees as they are all listed on the link given above. However, we would like to point out that they vary based on the banking method you opt for, so choose wisely. Exchange rates also apply, so if you want to carry out a transaction that involves currency conversion, be ready to pay a fee of 2.99% to their wholesale exchange rates. These vary and will be applied immediately without prior notice to you. The good news is that withdrawing money from MiFinity is quite cheap.
At online casinos featured on our website, all transactions through MiFinity are processed instantly. However, you should bear in mind that some operators tend to keep your money for a pending period that can take up to 48 hours. During this period, players can reverse their withdrawal and get their money back to continue playing their favourite games.
MiFinity transactions do not differ from those processed through most payment methods when it comes to casino limits. They are more or less the same at all online casinos supporting this payment option, starting at $10 and going up to $5,000.
As for casinos approved by our team, the only exception is King Billy Casino, where transactions through MiFinity are limited to lower amounts, meaning you can deposit and withdraw up to $1,000 per transaction. Anyhow, such a range should please both players on a budget, and those ready to invest bigger sums.
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To provide its users with a safe payment experience, MiFinity encrypts all transactions and secures them with SSL (Secure Socket Layer) technology. This way, they protect personal and financial data of their customers. As stated on the provider’s official website, MiFinity complies with PCI DSS Service Level 1 regulations, which guarantees that their systems are regularly audited and secure.
State-of-the-art firewalls protect their information systems by building a barrier between the internet and their internal systems. Besides, the provider has introduced Strong Customer Authentication (SCA), which is in line with the Payment Services Directive (PSD2).
This is a new European regulatory requirement that payment service providers have to meet to reduce fraud and ensure secure online transactions. Upon logging into your account, you will be required to enter the verification code because of 2-step verification, and after a period of inactivity on your e-wallet, you will automatically be logged out.
Visit Contact Us page on the official website to learn more about the customer support team. Here you can find addresses of all the provider’s offices, with telephone numbers and emails you can use to get in touch with its representatives.
Another available channel of communication is a contact form on the website you can fill in and leave your message for agents who will get back to you. While users who login into their account will see a live chat icon in the lower right corner, this feature functions more like a contact form.
Our experience with MiFinity Support
MiFinity has several ways to contact them: email, contact form, phone numbers, and Live Chat within the account. We first tried the email but didn’t receive any reply. Then we tried the online form, and again – nothing.
So, we decided to test the official Twitter account, only to find out we can’t send a message. We then wrote on Messenger. Surprisingly, they replied immediately, giving us another email to contact their client service department. Again, no response.
Then we tested the Live Chat within the account. We tried this two times. The first experience was terrible. We waited more than 20 minutes, and no one showed up. We left the message but didn’t get any feedback.
We then tried Live Chat again a few days later, and what a surprise: they reacted swiftly and answered our question immediately. Sasha was quick but not talkative, responding with a word or two. Nevertheless, we found out what we needed, but the overall customer experience is not praiseworthy.
As for our experience with MiFinity, we have to say that we have waited for an activation email too long when setting up the base account. This procedure can take up to 24 hours, which differs from most services we have signed up with. Once you set up an e-wallet, you will have to wait up to 48 hours for your uploaded documents to be reviewed and the KYC verification procedure completed.
When it comes to the overall user experience, most customers say that MiFinity e-wallet is easy to use, with all important info clearly displayed. They also claim that their experience with customer support is good, with the agents responding to users’ queries quickly. Simple, efficient and safe are the three most commonly used words describing the quality of service.
Another product offered by MiFinity UK is Money Transfer to China, and it has been incorporated in the e-wallet interface. The service allows customers outside China to send money to UnionPay cards issued in China safely and swiftly. Transfers can be made 24/7 on desktop and mobile devices.
MiFinity e-wallet can be used on Android and Apple smartphones and tablets. To access them, users can download the app from Google Play and App Store and install it on their handheld device.
MiFinity app is kept updated constantly by the developer in terms of stability and performance. Users can choose from multiple banking options to fund their e-wallet and clear their funds from it and access their balance and payment history anytime they want.
- Gaming is one of the categories you can choose when setting up your MiFinity e-wallet.
- MiFinity is present on social media, including Facebook, Twitter and Instagram, where you can get informed about the latest news about the company and its services.
- Up to nine e-wallets can be created per MiFinity account with different categories, from gaming to e-commerce and travel.
- MiFinity wallet supports Bitcoin and Bitcoin Cash.
- You can use the Refer a Friend option and invite your friends to create an e-wallet.
- MiFinity e-wallet features a shortcut to Money Transfer to China.
Yes, you can make both deposits and withdrawals through this e-wallet at MiFinity online casinos.
When it comes to online casinos featured on our website, there are no fees on transactions carried out through MiFinity wallet imposed by operators.
MiFinity is a completely safe banking method that uses the latest standards in the industry to protect its customers and prevent any kind of cyber attacks or fraud.
MiFinity accepts users from the majority of the world, and its website is available in more than 15 languages. Sign up for a base account, and you will easily find out whether you can use this e-wallet in the country of your residence. However, it supports 11 fiat currencies only.
To cash out funds from your e-wallet, select the Withdraw option on the left side of the interface and select the e-wallet you want to clear funds from. Now, choose a method where you can send your funds to, like verified debit or credit cards or bank accounts. Finally, enter the amount and click on the Make Payment button.
Cashouts requested through MiFinity are processed instantly in most cases. Yet, how long it will take for your money to get to your e-wallet depends on a pending and approval time, which may differ from casino to casino.
MiFinity exchange fees vary and will be applied on each your transaction that involves a currency conversion. On all their wholesale exchange rates, MiFinity will add a 2.99% fee you will have to pay if you want to convert one currency into another.
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