Giropay

What is Giropay

It is a highly efficient and reliable payment system, with which you can make payments on the Internet, both in various e-shops and service providers. It is very simple for merchants to integrate this payment method into their systems and for its users to conduct banking transactions. Moreover, you can pay without having to fill in payment details of a bank account or card.

History of Giropay

The company Giropay was founded in 2006 as a joint project of German banks. With this step, the banks sought to provide their users with a tool that would help them make payments on the Internet and at the same time easily adapt to the needs of the developing digital market. Although to this day it has not left the borders of Germany, it is a very popular payment method for a large number of users.

Who owns Giropay

Over time, Giropay detached itself from the banks and became an independent company Giropay GmbH, which falls under the German banking network Girocard. This banking network allows customers better and easier use of payment cards, including their use in other European countries. Its headquarters are currently in Frankfurt am Main.

How to use Giropay

This payment service can be used by users even without the need for registration. You can easily pay online on websites or in mobile apps using online banking at the company where their current account is held. Such payments are almost immediately credited to the recipient’s account and adhere to high security standards. Giropay thus enables its users to carry out transactions easily, quickly, and above all safely without the need to enter payment details.

Giropay profile

Registered users gain a whole range of benefits at the company, such as approving payments by entering a username and password or in the mobile app using biometric data. The account at Giropay is paired with the user’s bank account, thus transactions are processed even faster and directly. At the same time, all payments adhere to the highest security standards and users immediately receive a notification of any activity on the account.

How to register at Giropay

Those interested in this payment service can create a new account on the Giropay website or in their mobile application. In the “Login” section (in German Einloggen), new users select the option activate account for free under the login form. Then they choose their bank or savings bank, where they have an account and fill in personal login details and password. The last step is activating this payment service in banking for the current account or savings bank, which users can easily do themselves in their online banking.

Where to use Giropay

Giropay can be used to make online payments for goods in e-shops, various service providers or gambling operators. It is used in Germany and Austria, so users will encounter it mainly at foreign companies and online casinos. Its goal is to simplify online transactions and secure users’ personal payment details, to prevent their embezzlement or identity theft.

Limits of Giropay

The service can be used by both registered users and customers without registration. For this reason, this service does not have its own limits that would restrict the amount of transactions or their number on a daily, monthly, or annual basis. However, these limits are generally set in the account with which the Giropay service is paired or from which it transfers money, so for reducing or increasing them, users must go to their online banking and adjust the limits there.

How to pay with Giropay in an online casino

1. Select an online casino that supports the Giropay payment method
2. Unregistered Giropay users choose their bank and are redirected to log into their account, users with the Giropay app enter their login details
3. Check the amount to be transferred
4. Confirm the payment using a code or biometric verification in the mobile app
5. The bank immediately deducts the transaction from the paired account to the benefit of the chosen online casino

Registration bonuses

To play in online casinos, players must first register with the operator and usually receive a bonus for completing the registration. Some companies offer registration bonuses even without a deposit, but usually, a certain amount must be deposited into their player account. The deposit bonus can be a 100% increase in the deposited amount, free spins or cashback or other benefits. However, each online casino sets its own conditions for obtaining and using them.

How to withdraw winnings with Giropay

Giropay serves exclusively as a payment method, with which you can make online payments from the user’s bank account. However, it cannot be used to withdraw funds from a player account in an online casino. For withdrawals, players must choose another payment method such as a bank transfer or transfer to a digital wallet, from where they can transfer the money back to their bank account or withdraw it otherwise.

Fees

This payment method is exceptional in that no fees are charged to users by Giropay for transactions made. However, this does not apply in the case of banks where the user’s bank or savings account is held. All fees associated with conducting banking transactions are then found in the terms and conditions and in their profile in online banking.

Giropay app

The Giropay mobile app is available for free installation on all newer mobile devices with Android or iOS systems. However, it is also, like the company’s websites, only in German. Making payments with its help is, however, much faster and simpler, because they can be confirmed using a biometric print if this function is accepted by the banking institution of the user, or by entering the username and password into this app.

How to deposit money into an account

Users do not deposit money into the created account themselves, as they make payments from a paired bank or savings account via the Giropay account. However, the mobile app provides an overview of all transactions made in one place, and also allows confirming entered payments or receiving notifications of any movement on the account. It is available only for registered users. However, interested parties can easily create their own account in its interface.

How to withdraw money from the account

Since users of this payment service do not deposit money into the created account, it is also not possible to withdraw it. This includes not being able to withdraw cash from an ATM using Giropay, as this service is not offered at all. To withdraw cash, users must choose another payment method that their bank accepts. However, since no money remains with Giropay, they need not worry about how to handle any remaining balance or how to transfer money back should they no longer use this service.

Review

One of the biggest advantages of this payment method is making online payments even without the need to register with Giropay. However, with registration, users of this service can link a newly created account to their bank or savings account and pay online much more easily and quickly, without having to enter sensitive payment details or use a payment card. All transactions also adhere to the highest security standards. On the downside, the Giropay payment service is only available to residents of Germany and Austria, and thus its website and mobile app are only in German. However, it has a very user-friendly interface for its users and can be used to pay at e-shops, service providers, and operators of online casinos and gambling games. All payments are immediately deducted from the user’s bank account and credited to the recipient’s account within moments.

Frequently asked questions

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Sources: www.giropay.de