GiroPay is a widely available deposit alternative for German punters. It’s also starting to be available at more and more Austrian and Swiss betting sites. You’ll find the full list of bookmakers who accept GiroPay as a payment method further down this page.
If you’ve not heard of GiroPay before, though, you’ll want to know a little more about it. That’s why we’re also going to guide you through the ins and outs of the payment method including how it works, how you can use it for gambling, and what benefits are on offer.
Best Giropay Betting Sites: Top 5
The following is a list of the best sites for betting with Giropay:
*Info accurate as of 04-12-2023 for European market.
Deposits & Withdrawals: Limits & Times
| Bookmaker | Min | Deposit | Withdraw | Fees |
|---|---|---|---|---|
| Coral | €10-€2000 | Instant | n/a | 0% |
| Ladbrokes | €10-€2000 | Instant | n/a | 0% |
| Betfair | €10-€1000 | Instant | n/a | 2% |
| Boylesports | €10-€1000 | Instant | n/a | 0% |
Note: all withdrawals will be processed via regular bank wire/transfer.
FAQ
What is GiroPay?
GiroPay is a German based internet payment system which now works in a number of European countries. Users can make secure purchases (or deposits) online, direct from their bank accounts. It acts as an intermediary service between banks and online merchants that accept it.
How Does Giropay Work?
To use GiroPay for online transactions, you must bank with an affiliated bank. If you do you can make any online transaction with a participating merchant using GiroPay. Completing those transactions is quick and easy. You select GiroPay as a payment method, and then authorise the transaction via your bank.
Can I Withdraw With Giropay?
Most betting sites will process withdrawals for customers who used Giropay to deposit with a regular bank wire/transfer. There are no fees charged for this but it can take a little longer than some methods, usually 3-5 business days to process.
How To Use Giropay For Online Gambling
The easiest way to demonstrate how GiroPay transactions work is with an example.
Where GiroPay is available as a payment method, making a GiroPay deposit is swift and simple. Let’s assume you have an account with an affiliated bank and are looking to bet with a site that accepts GiroPay. The following step-by-step instructions are all you need:
- Go to your chosen betting site and log in to the account you wish to fund.
- Open the area of your account where you make deposits. The name of the area differs from one site to the next. It may be the ‘Cashier’, the ‘Deposit’ menu, or something similar.
- Find the site’s list of available payment methods. Choose the ‘GiroPay’ alternative from that list.
- Enter the amount you wish to deposit in the dialogue box provided. Then, click ‘Deposit’, ‘Confirm’, or whichever button will action the deposit.
- At this point, you’ll get redirected to the GiroPay website. Once there, you need to choose your online bank from the list that will get displayed to you.
- Selecting your bank will take you to their site. You then must log in to your online banking portal, and choose the bank account you’re looking to deposit from.
- You’ll then need to enter your PIN and/or your TAN (Transaction Authorisation Number). Doing so will authorise the deposit to your betting account.
- Once you’ve confirmed the transaction, the funds will be in your betting account in an instant.
Withdrawing: much like similar payment services – Klarna in Sweden or Euteller in Finland – you usually have to withdraw using a standard bank wire. The bookmaker you’re using will send the funds directly to your account once you’ve requested the cash out (usual processing time 2-5 business days).
Fees Associated with GiroPay
As well as speed and security, the cost of using GiroPay for deposits is another of the method’s big advantages. GiroPay themselves don’t apply fees to transactions carried out by their users. Instead, the firm makes its money by charging the merchants who sign up to offer GiroPay as a payment method.
Betting sites don’t apply fees to GiroPay deposits or withdrawals. The transactions are instant and are broadly handled by your online bank. As such, bookies don’t have any admin costs to cover for the transactions.
The only time you may have to pay for using GiroPay, is if your individual bank requires it. Some banks charge extra fees for using certain services for your accounts. You’ll need to check with your bank to see if GiroPay transactions are free.
Advantages & Disadvantages
We’ve already talked in brief about some of the main pros and cons of GiroPay as a deposit option. It’s worth drawing all of those benefits and drawbacks together to compare them more closely:
Advantages
- GiroPay enables direct transactions from your online bank. The transactions benefit from the top-level encryption and security measures of your bank.
- Deposits via GiroPay are instant.
- You don’t need to provide betting sites with any card or other financial information.
- Neither GiroPay nor betting sites apply fees to GiroPay deposits or withdrawals.
Disadvantages
- GiroPay is only available to punters with an account with one of a certain selection of German banks. If you don’t live in Germany, Austria, Switzerland, or Liechtenstein, you can’t use GiroPay.
- Not all betting sites serving German punters accepts GiroPay as a payment method.
History of GiroPay
GiroPay was founedd in 2005 by a trio of German finance groups. Those were namely Postbank, the Sparkassen-Finanzgruppe (Star Finanz GmbH) and the Genossenschaftliche Finanzgruppe (Fiducia & GAD IT AG). Since then, the payment service has gone from strength to strength.
In the decade and a half since its foundation, GiroPay has linked up with many major German companies. Those include the likes of Lufthansa, CTS Eventim, and Deutsche Post / DHL. That’s not to mention the over 1,500 banks that are now affiliated with the service.
GiroPay has also looked to expand beyond German borders in recent years. In 2014, the company linked up with eps Online-Transfer from Austria. That gave Austrian customers the chance to utilise the GiroPay service. Since then, the firm has also made similar moves in Switzerland and Liechtenstein. Overall, GiroPay now reaches over 45 million potential users.
See Other Deposit Options:
Author: David Lenton
