Paysafecard

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Paysafecard is one of the most easy-to-use e-wallets out there, and it’s also very popular at online casinos in India. It was first launched back in 2000, and in the last 2 decades, it made a lot of improvements and went through a lot of transformations to become the quality product that it is today.

Getting started

Paysafecard is like a prepaid debit card that consists of 16 digits and has different values like €5, €10, €25 or €50.  It can be bought from lots of physical stores all over India, but also online from the official website.

To use such a card you must first open an account on my.paysafecard.com. On that account, you will have the option to submit the 16 digits of your prepaid card, and then the value of the card will be transferred to your account. Afterward you will be able to deposit money to your online casino account directly from your Paysafecard account.

This system of depositing funds differentiates Paysafecard India from other eWallets like Neteller, ecoPayz or Skrill. At those websites, you’ll usually have to use a credit/debit card to deposit money, while here you don’t need a card. This way you can enjoy full anonymity and maximum security; at no point do you expose any financial details.

Registering for Paysafecard India

Enter the my.paysafecard.com website and press the “Register” button from the middle of the page. First of all, you will have to choose your country, after which you must fill in some personal details such as your name, birthday, address, phone number or email. You will also have to choose a username, a password, and a security question.

Once you’ve registered your account you must verify it by clicking on the link received in the welcome email. When you first log-in you will be asked if you want to activate 2-step authentication. If you choose to do so, then every time you log-in you will receive a code on your phone number. This way you know for sure that nobody can hack your account without access to your phone.

Depositing using Paysafecard

Paysafecard in India is popular, so there are a lot of casinos that accept this payment method.

So let’s say you have opened an account on the Paysafecard website and that you’ve already bought a prepaid card from a local store. The first step is to add the 16 digit code to your account so that the money is transferred to your e-wallet. After that you will have to log in onto your casino account, go to the deposit menu, choose Paysafecard and enter the amount of money you want to deposit. You will be redirected to MyPaysafecard where you will have to log-in again and accept the transaction. The money will be instantly transferred to the casino website. 

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Withdrawing using Paysafecard

Withdrawing money is a little tricky. Lots of Paysafecard Casinos accept this payment method for deposits, but very few for withdraws. If your gambling website is not one of the exceptions, you will have to make a new deposit using another payment method, and then use it for withdrawing money.

Let’s assume that you play at a casino that allows withdrawals by Paysafecard. All you have to do is go to the withdraw menu, choose the amount and wait. If you have your account verified, the money should be transferred in less than a day.

But there is another problem. Withdrawing money from Paysafecard India is limited and kind of expensive. You can not withdraw money to a regular credit card, but you could transfer them to a bank account for a fee up to $10, or to a Skrill or Neteller account for a fee of 7% of the total amount. Take into consideration that those e-wallets have their own 2.5% transfer fee, so you will lose almost 10% of your money while transferring them.

The Pros

  • There are a lot of physical stores in India that sell this kind of card, so acquiring one shouldn’t be a problem. You can also buy them online.
  • It is very easy to use even by those that never had an e-wallet account before.
  • It is completely free to open an account and you do not have to pay taxes when depositing money to paysafecard casinos.
  • Using a Paysafecard in India you can deposit money to online casinos without having a credit card or a bank account.
  • This payment method offers 100% anonymity. Neither the online casino nor the Paysafecard India staff will have access to your financial details as you don’t have to share them at any point.
  • You can claim casino bonuses on almost all gambling websites even if you use this payment method.

The cons

  • Most Paysafecard casinos accept this payment method only for deposits and very few for withdrawals. This means you will eventually have to use another payment method.
  • Even if a casino will allow you to withdraw money by Paysafecard, it is hard or expensive to transfer the amount to your bank account or to another e-Wallet like Skrill or Neteller.
  • Opening an account and using it is free. Also, you can deposit money without any commissions. On the other hand there are some taxes that must be taken into consideration.
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Fees

Administration fee – around 2€ / month (you will pay them only if you don’t use your account for one year)
Exchange rate – between 2% and 4% if the casino account and the Paysafecard account are in different currencies.
Fee for transferring funds to Skrill / Neteller – 7%
Fee for withdrawing money to your bank account – up to €10

Conclusion

Paysafecard India is one of the best deposit methods you can use at online casinos as you don’t need a bank account or credit card. On the other hand, you will have problems in withdrawing money, so take this into consideration before opening an account.

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