Bom dia a todos! Today, we’re going to talk about Multibanco, perhaps the most popular casino banking method in Portugal. Here at CBM, we’re big fans of local payment platforms. Even though international brands have their own enticing features, there’s just something special about local brands. Not only are they regulated more strictly, but they know their audience and are quick to apply improvements when needed. Multibanco just so happens to be a perfect example of this.
The funny thing is that MB wasn’t designed for casino deposits. However, when they launched their online services, users immediately fell in love with the speed and services of this Portuguese platform. Millions of people use it for their everyday needs, whether it’s online shopping, paying bills, or something else entirely. It’s just the perfect fit!
Today, we’re going to zero in on what makes Multibanco such a great deposit method. We’ll analyze the technology behind it, as well as take a look at some of the best Multibanco casinos out there. You’ll also learn about things such as Multibanco bonuses and much, much more. So, are you ready to bring your online casino experience to another level? If so, vamo lá!
Multibanco was founded in 1985, by the Sociedade Interbancária de Serviços (Interbank Service Society), more commonly known as SIBS. The organization’s goal was to address one of the most glaring issues on the Portuguese financial market – a lack of cooperation between banks.
Since there were so many competing institutions, account holders were essentially trapped in small networks. There weren’t a lot of ATMs, and using cards was quite a hassle for the average Joe in Portugal. So, in 1985, they launched the Caixa Automático Multibanco (Multibanco ATM) project. It started off with just 12 ATMs in Lisbon and Porto. People were delighted at the opportunity that they could withdraw money and check their balance, regardless of which bank they were customers of.
Both financial experts and customers directly credit Multibanco with making card use accessible to everyone. The Multibanco ATM project was an instant hit, and the company found it hard to keep up with increasing demand. In 1995, they already had almost 4,000 ATMs throughout the country. Just 11 years later, in 2006, that number grew to 11,200. Today, it is estimated that there are around 13,000 ATMs run by Multibanco. The company received international praise and its network is widely regarded as one of the most efficient and widespread in the whole world, not just Europe.
Multibanco finally went online in 2000, and it seems like they chose the right time to do so. Just as the internet was becoming widely accessible, people were quick to jump on the digital bandwagon. This put Portugal amongst the top nations when it came to the number of people using online banking services.
Today, Multibanco is far more than a card provider or an ATM operator. With 27 bank members, they are by far the largest financial institution in the country. Their presence is felt in every nook and cranny of Portuguese society, as the number of available services is growing each year. We’ll cover some of them later on, but first, let’s take a look at where can you use Multibanco for casino deposits.
Currently, Multibanco is available only in Portugal. This comes as no surprise, given the fact that the SIBS is an interbank network comprised solely of Portuguese banks. We’ve already mentioned that Multibanco is a local payment method, so it makes sense that they aren’t looking to expand outside the western part of the Iberian Peninsula. As for currencies, EUR, Portugal’s national currency is the only available one.
However, this doesn’t mean we consider this limited availability a downside. On the contrary, we like Multibanco so much that we think it’s a shame that other countries don’t get to experience it. Still, there’s a lot of growth ahead of the company. Online gambling finally became legal in 2015, so the industry is still in its nascent phase. Expect more options for casino integration in the future.
Nevertheless, there is a glimmer of hope that Multibanco might become an international payment method. Its parent company, SIBS, provides payment services in the following countries: Algeria, Angola, Malta, Mozambique, Nigeria, Poland, and Romania. Since SIBS owns a couple of local payment providers in these territories, we might see Multibanco make the jump across the border. But that’s wishful thinking for now. We’ll update this review as soon as we find something out.
Open a bank account at any Portuguese bank
If you don’t have a bank account as a Portuguese citizen, you should definitely open one. Some banks will let you do everything online, while most require you to visit the nearest branch. Since all banks in the country are a member of SIBS, they are automatically a member of the Multibanco network. You don’t need to create a Multibanco account per se – you just have to open a bank account and Multibanco is at your disposal.
Go to Multibanco’s website and log inOnce you have your bank account, you need to use your credentials to log into Multibanco’s platform. Don’t worry, they implement various security measures, so your data is safe with them.
Request a virtual card and download MB Way
Now that you’re actually logged in, you can file a request for a virtual card. We love this feature, as you basically get a throwaway debit card that won’t do criminals any good if a casino’s data gets compromised. You can make Multibanco deposits with the MB Way app, which is Multibanco’s eWallet. It’s an easy way to stay anonymous, while still having an overview of your casino-related expenses.
Connect your virtual card to MB Way and pick a PIN
Once you’ve downloaded the official MB Way app for iOS/Android, you need to connect your card. Enter your details and pick a 6-digit PIN code. Make sure you can memorize it and that nobody else knows it. Once you complete this part of the process, you will be sent two verification codes — one via SMS and the other via email. Enter them, and your account is ready for some online casino action.
If you thought it’s easy to create an account, wait until you see how to make Multibanco casino deposits and withdrawals. Again, the company made sure the process is as simple and as secure as possible, so you’ll definitely get in the hang of it on your first try. First, let’s see how can you fund your casino account with Multibanco:
- Go to your casino’s homepage and log into your account.
- Now, find the Banking section. Of course, it’s not always named the same way at every site. In most cases, it’s either Banking, Deposit, or Cashier. Some casinos don’t have a separate tab for deposits. It’s probably within your profile, if that’s the case.
- Once you’re in, scroll through the list of available payment methods. Click on the Multibanco icon.
- After clicking on the icon, enter your card information (number, expiration date, and CVV) and the amount you wish to deposit. Click confirm.
- To finalize your transaction, you will be sent a unique payment reference number. It will be sent to your phone via SMS.
- With the number in hand, you just need to open the MB Way app and enter it to finalize the transaction. And that’s it! The funds will be immediately in your account and you can start playing at the best Portuguese online casinos.
When it comes to withdrawals, the process is even simpler. Go to the Withdraw page and pick Multibanco as your preferred withdrawal method. Enter your card details and click confirm. Obviously, you don’t need two-factor authentication (2FA). You will get an SMS and notification in your app once the transfer clears. Couldn’t be easier, right?
Oh, and keep in mind that not every casino offers Multibanco as a withdrawal method. Before you start playing, do some research and see if this is available. You can use an alternative for claiming your winnings. Your regular debit card should do, especially a VISA or a MasterCard.
This is perhaps our favorite Multibanco feature – there are no fees. Every deposit and withdrawal using your virtual card is completely free of charge. Why do we believe this is such a big advantage? Well, if you have a proper game plan and are a high roller, paying even the smallest fee with every transfer can add up over time. In the long run, you will be at a loss. With Multibanco, you will get real, tangible value from your gaming sessions. And boy, do we at CBM love extracting as much value as possible.
This payment method is devoid of fees because casinos agree to pay Multibanco a cut for every transaction facilitated by the company. The casino gets more players because of MB’s ubiquitousness, and MB gets to earn a pretty penny every time you play. It’s the perfect combo, and you, the player, are the winner in this situation.
Okay, there are no fees. It’s all good, at least seemingly. But what about waiting times for Multibanco deposits and withdrawals? Well, all deposits are instant. Once you complete the process (see above), you just need to refresh the casino page you’re at, and the money will be right there.
For withdrawals, the story is a bit different. Usually, it takes between 3-5 business days for your winnings to arrive via Multibanco. So, make sure you don’t request withdrawals during the weekend or on Friday, as it will take a long time to get everything sorted. And also, check to see if your casino of choice processes withdrawals instantly. This will remove any potential delay from the equation.
When using Multibanco for casino deposits, the minimum amount you can transfer is €10. As for the upper limits, it’s €1,000 per transaction. Honestly, this isn’t ideal, but it also not such a big deal. Only high rollers will be affected by this. Unless you’re a professional gambler, you can easily split your winnings into two or more batches and request multiple withdrawals. Keep in mind that casinos have their own transfer limits, so inform yourself about these details before you take the plunge.
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Simply put, Multibanco are masters of security. Not only do you need to enter a PIN code to log into your account, but there’s also the requirement of manually approving every single deposit you make. In case your phone or computer gets stolen, even the most skilled thief wouldn’t be able to get a hold of your money.
The site also uses SSL encryption to shield all data. And on top of all that, you’ll be using a virtual card. It stays in your MB Way app and it can’t be compromised. So, if safety and security are your priorities, Multibanco is the payment method tailor-made for you.
Given the fact that Multibanco is a serious financial institution with over three decades of experience, it’s no wonder that they have top-notch customer support. You can contact them either via phone or email. It’s a shame that live chat is not available, but around-the-clock service and excellent organization make up for this with relative ease.
All the agents we spoke to were not only polite, but they wasted no time answering our questions and resolving the problems we posed to them. We had no unpleasant experiences whatsoever, and we’re fairly certain that you will get the same VIP treatment. Honestly, everything works so great that it’s highly likely that you’ll never have to contact them. Great job, Multibanco.
You’re probably aware that this Multibanco review is this payment method seen through our eyes. If we had a great time using it, that doesn’t mean everyone did. So, we wanted to see if what we experienced was an outlier or not. We scoured all the major Portuguese-speaking sites and forums, just to see what casino players think about Multibanco.
To no one’s surprise, people echoed our impressions. Almost every review praises the simplicity of the card-issuing process, as well as the reliability. We also saw lots of compliments targeting Multibanco’s impressive ATM infrastructure. Not only are you able to make online transfers with the greatest of ease, but there’s a high chance there’s an ATM a few minutes from where you are. The people have spoken, and CBM has no other choice but to fully recommend Multibanco to all casino players.
Multibanco is much more than your average casino deposit method. Since its early years, the company has spread its tentacles into many different facets and industries. Thus, it’s no wonder that there’s a plethora of extra features offered by Multibanco. Let’s take a look at some of the most important ones:
- With MB Way, you can also send money to your friends and family. The only requirement is that you know their phone number.
- Whenever you’re at a store and you see a QR code with the Multibanco logo next to it, you can make the payment just by scanning the code with your MB Way app.
- Also, you can use your MB Way app to access an ATM machine and govern your finances without even inserting a card. Multibanco is a pioneer when it comes to contactless transfers in Portugal.
- It’s possible to generate new virtual cards through your MB Way app. VISA, MasterCard, and American Expressare all available. If you’re purchasing things from abroad frequently, you can easily switch between cards to get the best value possible.
- When you’re applying for a virtual card, you can set any limit possible, as long as it’s higher than 5€. This can be a great tool to curb spending and tackle problem gambling with ease.
As you were able to see, Multibanco is highly dependent on its mobile apps. You can download MB Way for both Android and iOS, and using the app is a very enjoyable experience. While we discussed the features, let’s talk about the design. It’s basically everything you want in a banking app. The UI is clean and there is enough space and contrast for any form of content to be found right away.
It works great even on older phones, so you shouldn’t expect any bugs whatsoever. We’ve tested it for RAM memory expenditure and it displayed stellar results. And on top of all this, you can fully integrate the MB Net app with other payment systems, such as PayPal, Neteller, or Skrill.
- In 1996, Multibanco shocked all of Portugal by releasing MB Phone, an app that allowed people to check their account balance, transfer money, and request checks through their mobile phone devices. At the time, such a thing was unheard of.
- Multibanco also lets you generate a one-time-use debit card, with custom spending limits. As soon as you make a purchase, it disappears.
- Multibanco runs and operates Via Verde, Portugal’s official toll payment system.
- Online banking through Multibaco has been possible ever since 2000.
- Multibanco has some of the safest ATMs in the world, with special features such as rearview mirrors, money-tinting systems in case of theft, and a cash drawer that’s near your waistline, just so you can tuck your money away more discreetly.
- At Multibank ATMs, you can also conduct other transactions, such as purchasing concert tickets and bill payments.
- Multibanco is officially licensed by the Government of Portugal.
Theoretically, you can use Multibanco for withdrawals, but not too many casinos are willing to offer that. We believe it has to do with the fact that sites are generally hesitant when it comes to virtual cards.
Usually, Multibanco withdrawals will be at your disposal in 3-5 business days. In some cases, it may take longer if the casino doesn’t process withdrawal requests instantly.
No, Multibanco is completely free for casino players. You won’t be required to pay a cut of neither your deposits nor withdrawals.
Yes, you can contact them at any time of day and night. If you choose to call them, you will have to select MB Way or transfers by tapping a number on your phone’s screen. Then, they will put you on hold and an agent from one of the departments will assist you shortly.
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