Last updated: 15 June 2021
If there was some kind of award for absolutely bombing your first impression, Perfect Money would be the runaway winner. It’s not every day that almost every sentence on the site seems like it’s been patched together using a middle school dictionary. Failing to hire a capable copywriter is really not a good look, but Perfect Money takes the cake with the incompetence. Thankfully, you won’t even get to read most of the nonsense because of how slow the entire website is. And let’s not even get started on the UI – we felt like we stumbled upon a time machine and were thrown back to 2005. We rarely start off a review on a negative note, but then again, we also rarely stumble upon a payment method messing up even the most basic aspects of conducting its business. You’re probably asking yourself – why are we writing this Perfect Money review then?
Well, the thing is, this payment provider has tons of potential, but that potential is drowned by ineptitude of truly epic proportions. Perfect Money does so many things right, so we want to delve deep into their inner workings and see if those things are worth taking the plunge for. In the upcoming sections, we’ll cover this payment method entirely, with a special focus on the best Perfect Money casinos, the most lucrative bonus, and everything else you should know. Strap in and enjoy the ride!
Nowadays, online payment platforms are being founded and run by either programmers or financial experts. If it’s a programmer-made system, it’s usually very beautifully designed and oriented towards casino players that prefer usability over everything else. If it’s the brainchild of bankers, it usually offers many transfer options, but is almost always convoluted and haphazardly developed. Rarely do we see these two niches work together in harmony.
Perfect Money, however, is an exception. This payment method saw its debut in 2007, when it was officially launched by a team of experienced developers, economists, bankers, and even lawyers. At the start of its life, it was mostly seen as an afterthought in the still young online payments industry. Cards and bank transfers were pretty much the only viable transfer options at online casinos then, with the occasional PayPal deposit being a true novelty.
The ability to store multiple currencies in one account was pretty revolutionary at the time. This, coupled with Perfect Money’s aggressive efforts to expand into new markets was just what the company needed to make a name for itself. Slowly, but surely, they amassed more and more users. With the growing number of casino players taking notice, they also improved a lot of features and even added some very useful new ones.
While they may not be at the forefront of today’s iGaming movement, Perfect Money is still a reliable payment method that’s worth paying attention to. Don’t mind the unpleasant first impression we had and pointed out. Language mistakes can be corrected, better hosting can be bought, and a more adept front-end developer can be hired. It’s not an ideal first look, but Perfect Money has a lot of cool perks under the hood.
When it comes to focusing on particular countries and markets, this casino banking method is pretty unique. Most payment processing companies have a clearly defined main market, Perfect Money doesn’t. Both on their website and in their promotional content, they have cleverly avoided focusing on any market in particular.
This makes sense, as they’ve mentioned multiple times that their goal is to be an all-purpose, international banking method. One thing we don’t like, though, is the fact that there isn’t an easily accessible list of countries anywhere on the site. Look at ecoPayz, for example. It cost them literally no money to list all the countries they operate in on a single page.
With Perfect Money, we had to do some digging through the HTML and found the following information. Obviously, there are a few things to address when it comes to this list. A total of 240 territories doesn’t seem totally realistic, so we believe that Perfect Money is counting countries that both permit the platform to be used, as well as those that don’t outright ban it.
We also saw North Korea on the list, but we excluded it when adding it to our Perfect Money review because, you know… reasons. Also, why include Great Britain in the list? The United Kingdom is the country’s name, whereas Great Britain is the biggest island amongst the British Isles (Great Britain and Ireland).
Some of these available countries and territories don’t allow Perfect Money to be used for gambling. Therefore, please consult the casino customer support to check whether the payment method is offered for residents of your country before proceeding. As for available currencies, Perfect Money only supports USD and EUR payments, but also allows its users to buy and store Bitcoin and gold, too. Strange.
Go to perfectmoney.com and sign up
It’s worth mentioning that the Sign Up button isn’t highlighted at all, which is a UI element that even third-rate eCommerce stores even remember to include.
Enter your personal information
Enter the following details: username, full name, city, address, country, postal code, e-mail, phone, account type (personal/business), and password. We really don’t like the fact that the phone and address boxes are not mandatory. This is needed as a way to prevent fraudulent activities on the platform.
3. Enter the Turing number/captcha you see on the image
While we love anti-bot security measures, most of Perfect Money’s captchas are barely readable. We get that they’re trying to make it as hard for botting software to scan the image as possible, but what’s the point if you have to strain your eyes and make a mistake five times before you get it right?
Read the terms and conditions
This is an important step, please don’t skip it!
Claim your account number
Log into your email and claim your account number, which is an essential element that is needed for logging into your Perfect Money account.
Thankfully, Perfect Money doesn’t overcomplicate things when it comes to deposits. Funding your online casino balance is easy, and can be completed through a series of simple steps. Here’s what needs to be done:
- Head over to your casino homepage and log in.
- Click on the Banking/Deposit/Cashier page, depending on what your site of choice calls it.
- Pick Perfect Money as the deposit method.
- A window will pop up, asking you to input the following – your account number, your password, and the amount you want to deposit.
- Double-check all the details and the amount, and confirm the transaction. That’s it!
Even though the process is amongst the simplest we ever went through, this eWallet has yet another big security flaw – there are no automatic authentication requirements when making a deposit. You have to dig deep through your account setting in order to activate the SMS login option, but it’s hardly something novice players will stumble upon by themselves. Hypothetically, someone can steal your account info and play at online casinos. Couple that with Perfect Money explicitly saying they offer no refunds, and we have a potential disaster on our hands.
For withdrawals, the process is pretty much the same, but in reverse:
- Log into your casino account.
- Go to the Withdraw/Banking section.
- Select Perfect Money as your desired banking method.
- Enter the amount you wish to withdraw and provide your account number and password. And voila – you have withdrawn your winnings!
It’s pretty brave of Perfect Money to burden its customers with various fees when they can’t even include some rudimentary security measures! For wire transfer deposits to your Perfect Money balance, you will pay 0.5% of the total deposited amount. This percentage can even go higher, with the company failing to detail when, why, and how this might happen.
There are also internal transfer fees – 1.99% (cheeky) for unverified accounts, and 0.5% for verified and Premium ones. Currency conversions are also charged according to the current market rate during that day. Surprisingly, Perfect Money pays 4% interest on your yearly deposited amount, up to a maximum of $500 per month.
They also have THE NERVE to charge $0.1 for the use of the SMS login feature, which is a level of greed we don’t think we’ve ever seen from a payment provider. And the worst part? If you somehow get your account stolen or compromised, you need to pay $100 in order for it to be restored! Yikes.
Despite the many flaws we’ve pointed out in the previous few sections, Perfect Money is right on the money when it comes to waiting times. Most deposits are instant, but some casinos might have a manual verification process which can extend the timeframe to around 24h.
Unlike many other eWallets, Perfect Money is lightning fast when it comes to waiting times for withdrawals. You will receive the money in 24h or less, which pleasantly surprised us. This is great in situations when you need to withdraw your winnings urgently. Kudos to PM for the speed!
To be frank, this review is a real rollercoaster ride. Terrible flaws and shocking behavior are followed by functional and logical solutions to common problems, rinse, and repeat. Here is another one of these brilliant solutions, as Perfect Money doesn’t have any limits when it comes to both deposits and withdrawals.
This is excellent if you’re a high-roller, as you can synchronize your preferred online casinos with Perfect Money. However, you’re going to have to look a bit harder for such sites, as regular ones will require you to abide by the limitations they impose, which are usually in the €1,000-€5,000 ballpark.
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Honestly, we’re not sure what to think. On one hand, creating an account with fake credentials is easy. Even though it’s an unverified account, scammers and criminals can still do damage with it. An honest payment provider that cares about security should eliminate this possibility ENTIRELY. Confirming transactions is too easy unless you activate the SMS login option, as well.
In terms of security during the account creation process, Perfect Money could do a lot better. We tried creating fake accounts due to the fact that you needn’t provide your home address or phone – and it worked! Other payment methods require you to confirm your phone number, complete some form of 2FA, or even provide a document scan. Perfect Money needs to do better if they want to show their users that they mean business.
There is also the ability to create multiple accounts on one IP address, all with the same personal data. While this sounds cool in theory, it’s an unnecessary security risk that should be eliminated. On the other hand, you can activate the SMS login option or request a CodeCard, which are both great features. This seems to be the theme for Perfect Money – great ideas and lots of potentials, but unsatisfactory execution.
On the other hand, there is a number of valuable tools that can really be helpful. We like the fact that Perfect Money automatically registers when there is a login attempt from a new IP address. In this case, you will be sent a code to your email. The SMS login feature is quite nice, but needs to be activated manually, and costs $0.1. CodeCard is a technology developed by Perfect Money themselves and involves sending you an image of a code that you need to type in order to confirm a transaction. Overall, there are some great ideas here, but it’s too complicated for those that aren’t particularly tech-savvy. Some simplification is needed, ASAP.
What we like about Perfect Money’s customer support is that they want this aspect of their services to be secure, too. They accomplish this by giving every user a unique PIN code which they have to enter in order to access the conversation between them and the agent. Usually, such conversations contain sensitive info that should stay private. Thus, we consider this to be a big plus.
However, we don’t like that this ticket/contact form system is the only way to contact customer support. Frankly, it’s tiring to see payment providers still not adopting live chat as a viable means of communication. Everyone and their dog can use ZenDesk, so we don’t see why Perfect Money shouldn’t be criticized for this.
Our experience with Perfect Money support
Their agents are mostly polite and respond in an hour or two, but it seems like some of them don’t have a decent knowledge of the English language. Could be much better, overall.
Casino players have mixed feelings when it comes to Perfect Money. Some people haven’t had any problems and were able to withdraw their money and play casino games seamlessly. However, some positive reviews come with a one or two-star dedication because of the outdated UI and the complicated systems that are implemented by the company.
There’s also a plethora of negative reviews, which mostly revolve around their money being withheld or Perfect Money forcing them to use shady exchange sites. This is definitely not a good look, even though we haven’t had problems with our deposits. Proceed with caution.
- At Perfect Money, you can also store gold (not literally, but shares of it) and Bitcoin in your balance. However, the problem is that you can only purchase these amenities from Perfect Money-approved exchanges, which are, honestly, pretty bad and untrustworthy.
- There’s also the option of creating e-vouchers, which are then sent to another person that can claim their value by entering the code on the voucher.
- Strangely, you can also loan or get loans through Perfect Money, with both sides having to agree on the same terms before the loan is given out.
- You can also send money to another person’s mobile phone, with a special code that needs to be used in order for the receiver to get their money.
Perfect Money is available on both iOS and Android-powered devices. However, we’re not at all pleased with the quality of the apps. It seems as if Perfect Money wanted to save money, so they hired the cheapest app developer to just scale their desktop site to a smaller format.
The interface is confusing, but you can still do everything that’s also available on your computer. Overall, the UI is a big problem for Perfect Money, on all platforms. We sincerely hope they make their product more usable in the future.
- Over 50,000 companies use Perfect Money for their business-related needs
- Residents of UK, UAE, Russia, Turkey, Moldova, Azerbaijan, Ukraine, Georgia and Iran can make Perfect Money deposits and withdrawals in cash via exchange offices.
- Perfect Money account holders can purchase Bitcoin and Gold shares via exchanges.
- Perfect Money pays 4% yearly interest, up to a maximum of $500 per month.
- You can earn a Premium status if you deposit $100,000 or more into your account.
In most cases, Perfect Money withdrawals are processed in 24 hours or less. If there is a problem, it’s usually due to the casino.
Not really. Due to the number of bad reviews, and some of the security flaws we’ve noticed, we can’t recommend Perfect Money as a safe way of making casino deposits.
According to the company itself, they have an A-class license. However, there is no such thing, and they haven’t even mentioned the organization that issued them this ‘A-class license.’ So, the answer is probably no.
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