Welcome to my Usemyfunds betting sites page. Usemyfunds is an online payment system similar to PayPal and Moneybookers, but with a twist aimed towards online gambling. You can use Usemyfunds to send payments to many online retail outlets, but its primary focus seems to be on online gambling sites.
A full list of bookmakers that accept Usemyfunds can be found below – I’ve only included sites which scored A grades or better in my reviews section.
List of Usemyfunds Friendly Betting Sites
*Info accurate as of 16-10-2019 for the UK market.
Deposits, Withdrawals & Fees
|William Hill||£10||Instant||n/a||1-5 days|
Like most of the online payment systems, Usemyfunds offers itself as a “middleman” between your bank (or other payment method) and the gambling operator. This effectively streamlines the process giving you a single payment service that provides secure fund transfer to the establishment of your choice, so you can quickly and easily top up your account.
Usemyfunds have been operating for some time now, and their reputation is second to none in terms of customer service and security online. Most online bookmakers and casinos accept Usemyfunds, and it’s becoming a favourite with some customers. They only downside is that US customers cannot use the services, despite their head office being located in North America.
How to Use Usemyfunds for Gambling
As the name suggests, the Usemyfunds service requires that you connect your account to your bank. It then uses your bank to fund the payments you request online at various retail outlets. Fortunately, sending payments using the service is free, and Usemyfunds makes all its money from charging the retailers to collect money via their service. This isn’t great news for bookmakers, but its good news for punters who want to use Usemyfunds as a go-between their bank and the bookmaker.
First of all, you need a Usemyfunds account. These can be set up very easily at their website, and you should manage to do this in about five minutes. There will be a few personal questions to be answered, but as this is a payment service dealing with millions of pounds and dollars a day, you’d expect a few such questions at sign-up. Once you have your new account, you can connect your bank account to the service fairly easily.
You can then head over to your bookmakers and fund your account by using your Usemyfunds account. Because the only information you need to give to the site is your email address, your bank details are kept safe at all times, and you’ll never need to enter them into a site again.
There is one notable downside with the Usemyfunds system however, is that funds cannot be withdrawn back to Usemyfunds. This means if you have a big win and want to get your money out again, you will have to find another way to do it. All Usemyfunds deposits require you to withdraw using a different method.
It should also be noted that currently, Usemyfunds is only available in English, and while this doesn’t affect the bulk of its customer base, if a foreign language is your native tongue, you will have to use English to use this service.
Usemyfunds Security Online
Usemyfunds uses fairly standard security measures on the Internet. This means the use of SSL (secure socket layer) technology when interacting with you and asking for payment details. SSL is a system where information transferred between the customer and the company (in this case Usemyfunds) is automatically encrypted.
Only the company at the other end can see the data you transmit, and anyone in between would only see scrambled information. Usemyfunds actually have a very good reputation over the ten years they’ve been operating, and are well known for their security as well as the simplicity of their services – a combination that is sought after by many payment service providers.
As well as SSL, Usemyfunds also has strict rules in place regarding data protection, in that employees of the company aren’t allowed to see any payment information at all. Full access to the payment database is limited to essential personnel only, so you can be sure when you give Usemyfunds your payment details, that the information will be well looked after.
Of course one of the benefits of using a payment service like Usemyfunds is the way in which the payments work. You never need to give out your bank details to anyone other than Usemyfunds, which in itself is a good form of security. Many of the security breaches where bank information has fallen into the hands of criminals are via websites who illegally “sell” credit card and bank information. By signing up with a company like Usemyfunds, you safeguard yourself against this kind of crime.
Usemyfunds has been operating since 2002 and was originally founded by a businessman by the name of Joseph Luso. The service is based in Toronto, in Canada, and this is also where the head office is based. Focusing on the gambling industry, Usemyfunds Inc. have gone from strength to strength over the past ten years of trading, and they are now well knows as one of the leading payment methods for the online gambling industry.
Recently they have been trying to break into other markets as well, and Usemyfunds is now accepted in many high-street retail outlets as well as online. It has an established infrastructure that is extremely reliable.
Fees Associated With Using Usemyfunds
Usemyfunds is a free service for those wishing to use it for making payments so transactions are free for punters.
There are some fees however for individuals and companies wishing to use Usemyfunds to receive payments. For this reason, you may find that come bookmakers and companies pass on those fees to customers by charging should you want to make a deposit with Usemyfunds.
Currently you cannot make a withdrawal using Usemyfunds, so in order to take funds out; you have to provide an alternative method.