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Open banking is currently what online casino players turn to most when it comes to choosing a payment method to use for deposits and withdrawals, and Volt is certainly standing out from the crowd of similar solutions across top online casinos. This is quite a modern solution that acts as an intermediary between you, your online casino, and your bank account, facilitating instant and safe transactions. The fact that you don't need to go through any lengthy registration procedures to start using it is what makes it perfect for your online casino deposits and withdrawals. And, the fact that it functions in collaboration with major financial institutions and banks across Europe is what makes it ideal for you if you're a European online casino player. So, continue reading to find out all about it and you'll see that you'd hurry to give it a try yourself. What is Volt and why choose it over any other payment method at an online casino?
About Volt
Launched in 2019 by a team passionate about innovation and eager to create a payment solution that would allow for real-time transactions, Volt is a modern open-banking solution that emerges as a top choice for many players across online casino sites. Its story began once the FinTech company behind it, Volt Technologies Holdings Limited readied its strategy and core team and appointed Robert Kraal as Chairmen in December 2019, and by January 2020, received seed funding from Fuel Ventures of £1 million.
The company, based in London, made sure to get the proper authorizations from UK authorities to provide the services it does today. Knowing how open banking can change how businesses receive payments from end users, the company made sure to create this open banking gateway that enables merchants from all over the world to receive payments from one account to another in real time. Teaming up with major industry leaders, the solution was ready to go live with merchants in November 2020. As it turned out to be a huge success, it received plenty of other supporters and partners and even partnered up with PIX in Brazil in November 2021. By 2023, it was being used by over 390,000 online shoppers, interested in making all kinds of online transactions across merchant sites.
Featured in the global market analysis and forecast for 2024-2028 alongside similar open banking solutions, the solution was dubbed a key player operating in the open banking solutions market in 2024. Thanks to the fact that it has managed to build a global network of important and trusted names in the payments industry and over 5,000 banks and financial institutions in Europe and the UK, it has certainly made a name for itself in the industry. In February 2024, it was granted a UK license by the FCA and officially became an Electronic Money Institution, further cementing its position as a trusted and transparent payment solution to use.
Allowing for instant, safe, and multicurrency transactions, its global availability and interoperability, of course, the solution has also managed to enter the online gambling industry. As mentioned at the beginning, it has become a player-favorite payment solution in such a short time, and by default, has managed to get its place on top of the lists of accepted methods across a decent number of sites. Its availability continues to increase, so make sure you know all about it before you decide to try it yourself.
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Getting Started with It
Volt is, as you've probably gathered by now a B2B (business-to-business) solution that connects you, your online casino, and your bank account. Therefore, as you probably assumed, no new account registration will be necessary to start using it. In fact, while the operator would need to get in touch with its Sales team to successfully integrate with it, you won’t need to lift a finger as a player. You won’t need to go through any exhausting procedures to start using it, and you’ll see that in just a few taps on your device, you’ll be effortlessly transacting to and from online casinos in no time.
The only condition you must meet in order to be able to start using it is to have a bank account with any bank that supports open banking. Over 5,000 certainly do, so probably yours does, too; but on the off-chance, it doesn't, you would need to open an account with a different bank that does support open banking. You know that opening a bank account is super-easy, so we'll just quickly skim through the steps: visit a bank, ask the clerk to open an account for you, provide the needed personal details and a government-issued document to prove your identity and address and that's it. Assuming you’ve also got your online banking profile credentials and you can access the funds you have on your bank account online, you’re ready to check out how the solution works.
But before we guide you through the steps on how to start using it across the many online casinos that already offer it, we must stress that it is important to check whether your bank supports open banking, as that’s the only way you’ll be able to use the solution. Suppose you did and you’ve got the green light, follow our lead, as in the following sections, we’ll tell you how to use the solution for online casino deposits and withdrawals.
How to Deposit at Online Casinos with Volt?
Volt might not be as widely offered across the online gambling industry as of yet, but that’s because its peak is yet to come. For the moment, you will get a decent number of online casinos, some even reviewed here at WoO that offer it, so you’ll have at least a dozen sites to check out before you choose the one to join.
Once you do that, and you find the right site to join, to register a player account with it, you will need to share some basic details about yourself. The minute your account is ready, to make your first deposit with Volt, do the following:
- Enter your registered player account and locate the Banking page.
- Look for Volt on the list of accepted Deposit Methods and press its logo.
- Set the amount you want to transfer and select your bank from the listed banks.
- The minute you get redirected to a new safe page, access your online banking profile using your credentials.
- Confirm the transfer and watch the funds arriving at your casino balance in real-time.
How to Withdraw Winnings with It?
As you probably gathered by now, the solution can be used for withdrawals, too. Since it facilitates account-to-account transactions and makes them speedier, you should even expect to be able to make fast withdrawals with it.
You will need to select it from the list of Withdrawal Methods on the Banking page this time and select your bank once again. After you specify how much you want to withdraw and complete the verification procedure, your request will be sent to the operator. The operator will take 24 to 48 hours approximately, to go over your request, and hopefully approve it. But once you get the approval, expect for the money to reach your bank account in real-time.
Fees and Limits
Volt is completely fee-free for end users. You may not believe it, but transacting via this safe payment gateway will be free of charge. Casino operators will be charged integration fees, but that has nothing to do with you: as long as the casino offers it, you are free to use it without paying anything extra.
Now, keep in mind that your bank will charge fees for your transactions via the gateway. It would be best if you get in contact with the bank’s Support team to learn more about the related fees, as they vary from bank to bank.
Allowed Countries
Volt Technologies Holdings Limited is registered in England and Wales and has partnered up with leading financial institutions all throughout the UK and Europe, but rest assured, that the solution is offered globally.
Of course, there are certain key markets where its popularity is the highest, like the UK, of course, Italy, Sweden, Norway, Denmark, Germany, Spain, Finland, and Poland, but as mentioned, since it has teamed up with Pix for Brazil, it is also offered in several Latin American countries.
Accepted Currencies
You can rest assured that mainstream currencies will be at your disposal when transacting via the payment gateway. Most of them are European currencies, but the Brazilian real, thanks to the PIX partnership, and the US dollar will also be options for international transfers.
As far as local transfers go, you can use the Danish krone, the Polish zloty, the UK pound, naturally, the Norwegian krone, the Swedish krona, and the euro.
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FAQs
How many online casinos approximately offer Volt for deposits and withdrawals?
The list of casinos that accept it continues growing, so while we cannot pinpoint one specific number at the moment of writing, we can say with certainty that you have at least a dozen of sites to check out here at WoO that offer it already. Be patient and you’ll see that it will get offered across many others, as its popularity across the online gambling industry is expected to reach its peak soon.
How do I know whether Volt is a safe solution to use?
Not only does it hold proper licenses to offer its services, but the solution makes sure to implement top-notch security measures, including industry-standard encryption and authentication, making sure that your funds and data are always protected.
Who do I get in touch with in case my deposit via the payment gateway fails?
You can contact your casino’s Support team, of course, to check first whether the problem occurred on the casino’s part. If that’s not the case, you can always contact Volt’s own Support agents via email, and they’ll get in touch with you as soon as possible to give you the answers you need.
Is it possible to make deposits with it via mobile devices?
But of course! The solution works seamlessly on both mobile and desktop devices, and its user interface has certainly been optimized for smaller screens, hence, smartphones. You can rest assured that you'll be able to make deposits with it no matter whether your mobile device uses the Android or iOS operating system.
Will I find Volt on social media?
You most certainly will, and as expected, considering this is a serious payment gateway, you won’t find it on fun-intended social media platforms, but only on LinkedIn, as the company behind it wants to stay professional and only share important news about the solution on its LinkedIn profile.