WebMoney Casinos – Using WebMoney at Online Casinos
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WebMoney History and Development
WebMoney is an e-wallet launched by WM Transfer Ltd in 1998 in Russia. Presently, it is one of the most reputable and largest payment services in the country. Even though the payment solution has primarily been designed to serve Russia and Eastern Europe, WebMoney has an international reach with more than 40 million clients across the world. The online payment solution has 300,000 weekly users.
In 2015, WebMoney received its license to issue electronic money in the European Economic Area by the Financial Conduct Authority which let it extend its operations a lot more. Recently, it has become very popular in the iGaming community since it enables seamless integration on online gambling platforms.
With WebMoney, users can send and receive payments worldwide and store money online. It is one of the most popular e-wallets that is used for money transactions. The funds that you are transferring are stored in the eWallets that hold electronic money that corresponds to the underlying asset. Since the payment method has existed for several years, the number of casinos that accept this has gradually increased.
WebMoney Updates
- November 2015: WebMoney Europe Ltd. based in Cambridge, UK had been granted an FCA license to issue e-money within European Economic Area.
- January 2022: In 2020, WebMoney reported 45 million registered accounts and 300,000 users every week.
- November 2024: WebMoney now allows merchants to seamlessly accept Alipay payments, with funds automatically transferred to WMT or WMZ wallets. Customers do not need a WebMoney account, and merchants are not required to have Alipay. Payments can be arranged by generating a payment link through WebMoney Keeper or by configuring automated solutions with WebMoney Merchant.
Where WebMoney Operates
WebMoney, a widely recognized digital payment system, originated in Russia back in 1998. Over the years, it has expanded its reach beyond Russia and gained acceptance in several other countries. If you are looking to explore banking options in global markets, WebMoney provides a range of international banking solutions. Apart from its strong presence in Russia, WebMoney offers its services in various available markets worldwide. Whether you are a business owner, an entrepreneur, or an individual seeking reliable and convenient financial services, WebMoney can be an excellent choice to meet your international banking needs.
How to Create a WebMoney Account?
WebMoney functions through a unique system of the purse and stores the funds of the clients, here, we are going to discuss how to set up your account at WebMoney.
Submit Your Phone Number
For registering for WebMoney, the first step is to submit your phone number along with your email address and country code. You will receive a text message on your phone number for verification and an email with a unique WebMoney ID. Use this unique ID and password to your account to make online transactions.
Verify You Are Not a Robot
The system is also going to ask for a selfie. This is to primarily make sure that you are not a robot and a real person. So, click a selfie and add it to your account while completing the registration process.
Confirm Your Phone Number and Set a Password
When you are done adding your selfie, you have to confirm your phone number and set a password for the WebMoney account. Agree to the terms and conditions on WebMoney and choose the currency you prefer for the wallet.
Choose Your Preferred Currencies
The wallet accepts different currencies that you can choose from. WebMoney wallet also offers cryptocurrency balances, which let you buy such cryptos, like Litecoin, Bitcoin, or BitcoinCash. Each balance will have its title that will help in distinguishing it from the others. As a WebMoney account holder, you have to buy WM Units. The units can be converted or withdrawn and that too, in the native currency.
Fund the WebMoney Wallet
Now, you can fund your wallet through cash at an ATM, wire transfer, e-money transfer, or online banking. Click on the chosen purse and if you have to fill it up, click on ‘Refill’. In case you want to send money from your WebMoney to another account, simply click on ‘Transfer’.
However, you need to make sure that you have passed the KYC check by submitting a few legal documents. It is also a mandatory step to complete online casino top-ups, particularly if you want to make a higher deposit.
Available Currencies
BTC
EUR
RUB
USD
WebMoney Fees, Timeframes, and Limits
Fees
WebMoney uses various banking models than other online payment methods and as such, it isn’t restricted by the same rules and regulations. Users do not get charged anything to receive WM units corresponding to a currency or asset but if you would like to send WM, you are going to get charged.
WebMoney has an already fixed fee of 0.08% for each transaction that users make through the system. It includes online casino deposits, as well as withdrawals.
Other fees might be added on top based on the currency, the kind of purse you are using, and the other operations you are using the account for.
For instance, when you withdraw money in USD, you will have to pay an additional fee of 0.6%. In case you withdraw from WebMoney to your banking account, there is another 2% fee you have to pay. In case your deposit at a WebMoney Casino with a debit card associated with your wallet, you are going to be charged an additional fee of 2.5%. The company displays all the rates on its platform.
A commission is applied when you add funds to your WebMoney account. The commission amounts are usually small, typically under 4%. However, certain transactions may have higher fees, ranging from 11% to 13%. Initially, the fees may not seem significant, and you may not even notice them. But over time, these charges can accumulate, resulting in a considerable amount spent solely on fees.
Timeframes
Deposits at WebMoney Casinos are instant. So, the money will be deposited into your account as soon as you complete the payment. This means the money will be available for playing instantly.
WebMoney is also known for speedy withdrawals. It is one of the primary reasons why players choose WebMoney.
However, the processing timeframes vary with the casino you choose. Withdrawals can be instant or take up to 10 business days. So, make sure that you check the withdrawal timeframe of the particular casino before placing your withdrawal request. Also, remember that some casinos might not process withdrawals during holidays or weekends.
Limits
WebMoney operates under a distinct banking model compared to other online payment platforms, allowing it to bypass certain rules and regulations. One notable advantage is the flexibility it offers in terms of transaction limits. While some eWallet services impose monthly transaction caps in the range of several thousand dollars, WebMoney provides users with considerably more freedom in conducting their transactions.
There are 4 separate limits when it comes to how much money you can store in your WebMoney wallet. In case you haven’t verified a phone number, the maximum amount you can store in the WebMoney purse is $200 or an equivalent amount in other currencies. But if you have already verified your phone number and you can receive confirmation through ENUM or SMS, then the limits of the wallet will go as high as $600. For users with initial passports, the limits are increased to $12,000 and users with personal passports might have as much as $120,000 in the WebMoney wallet.
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Security & Support
Security
Security is a crucial factor to consider when selecting an online payment method. In today’s world, where identity theft and financial fraud are growing concerns, it is vital to choose a service that can effectively safeguard your personal and banking details, as well as your funds. Ensuring the integrity and protection of your sensitive information should be a top priority when making a decision.
WebMoney is a secure platform and there are several systems in place to prevent any kind of security issues. Gaining unauthorized access to a WebMoney account as a non-user is highly challenging. WebMoney provides three primary authentication methods for its users. These methods include traditional usernames and passwords, files containing secret keys, and personal certificates. Additionally, users can enhance their account security by opting for a 2-Factor Authentication system. This system employs either SMS verification codes or the eNum service, both of which generate one-time-use codes. These codes are essential for logging in and gaining access to the account, adding an extra layer of protection.
The security measures adopted by the payment method make it possible for users to enjoy the available online casino games with complete peace of mind as they know that their funds are safe.
Customer Support
WebMoney does offer customer support, although it may not be considered one of its strongest aspects. There are two primary methods to contact the support team: telephone and email. The support team can be reached by calling one of the four dedicated phone lines available. For Russian users, there are two designated lines and one for users from Vietnam. But you can also reach out to the support team through email.
If you require assistance with a specific wallet, WebMoney provides dedicated email addresses where you can send your inquiries. Generally, WebMoney strives to respond to all questions and resolve issues promptly. However, some user feedback suggests that there is room for improvement in the process.
Mobile Capability and Extra Features
WebMoney is not limited to PC users; it also caters to mobile device users, particularly those who engage in mobile gambling. The company has developed dedicated applications for all top mobile platforms, ensuring that users can conveniently access and utilize the service on their smartphones or tablets.
Users can download the WebMoney Keeper app directly from the respective app marketplaces on their Android and iOS mobile devices. By installing the app, users can access the same features on the desktop version. This enables them to conveniently perform transactions and easily carry out their activities, regardless of their preferred mobile platform.
Player Experiences at WebMoney Gambling Sites
WebMoney has received varied feedback from players and users. While some individuals appreciate its convenience and wide range of features, others have expressed concerns or encountered issues.
Many users find WebMoney to be a convenient payment method, allowing them to manage their funds and make transactions online easily. Some users have expressed concerns about the security of WebMoney, particularly regarding the potential for fraud or unauthorized access to accounts. While WebMoney has security measures in place, users emphasize the importance of being cautious and proactive in protecting their account information.
WebMoney’s fee structure has drawn attention from users. While the fees are generally reasonable, some users feel that certain transactions incur high charges, and over time, these fees can accumulate significantly.
Our Summary of WebMoney Payments
If you are looking for a legitimate payment solution to use at online casinos, you can choose WebMoney. However, they are not as widely accepted as Neteller or Skrill at online casinos. At first, the service was just available in Russia. However, now it is available in more countries. Using WebMoney for your gambling needs offers significant advantages over other payment services.
WebMoney prioritizes security and implements measures to safeguard your financial information and protect your funds during gambling transactions. With WebMoney, you can enjoy higher transaction limits compared to some other payment services, allowing you to make larger deposits and withdrawals for your gambling activities. WebMoney supports various currencies, making it convenient for international players to engage in online gambling, regardless of their country of residence.
WebMoney supports various currencies, making it convenient for international players to engage in online gambling, regardless of their country of residence. However, an unfortunate fact about the online payment method is that it charges a commission.
Interesting Facts
WebMoney is an eWallet, which operates on a digital currency called WM units and it is equivalent to the value of the real currencies it represents.
It has a multi-level authentication system providing different methods, such as the username/password, personal certificates, secret keys, and two-factor authentication to make sure secure account access.
WebMoney has expanded its presence globally and currently serves users from over 100 countries.
In addition to its mobile apps for Android and iOS, WebMoney offers browser extensions for popular web browsers, providing easy access to account management and transactions.
WebMoney FAQs
Is it safe to use WebMoney?
Yes, it is safe to use WebMoney. WebMoney is a global payment processor that adheres to regulations set by various financial institutions in the countries where it operates, such as the FCA in Europe. They prioritize secure transactions and employ additional measures to safeguard their clients’ assets.
Will I have to offer proof of identity to WebMoney?
To ensure security, WebMoney, like other online payment services, requires users to undergo verification processes. The extent of the information provided to WebMoney determines the balance limits on the account. Initially, a newly opened account without verification can only hold up to $200 or an equivalent amount in another currency. However, once users complete the necessary verification procedures, their account limits can be increased.
Is it possible to use WebMoney even if you are not from Russia?
The availability of WebMoney as a payment method depends on whether the merchant or online casino you wish to engage with supports it. While WebMoney has its origins in Russia, it is also present and widely used in many other countries. Therefore, it is not limited solely to Russian-based businesses, and you can find merchants and online casinos in various countries that accept WebMoney as a payment option. Some of the countries where you can access it are Armenia, the UK, Moldova, Belarus, etc.
Can I use WebMoney to make withdrawals?
Yes, you can make withdrawals through WebMoney but only when the operator you are playing at has been listed in the withdrawal section. A few online casinos allow WebMoney withdrawals.
Do I have to verify my account for using WebMoney?
If you plan to utilize WebMoney for online casino deposits and wish to benefit from higher limits, it is indeed necessary to complete the full verification process for your account. Full verification ensures compliance with regulatory requirements and provides additional security measures, granting you access to higher deposit limits for a more seamless and enhanced gaming experience.
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