iwallet

Payment services that can be used for deposits and withdrawals at online casinos include credit cards and virtual currencies, but electronic money is particularly convenient. In recent years, the number of people using electronic money has been increasing because of its low fees and quick procedures.

In this article, we will introduce iWallet, which is used by many online casinos among many electronic money.

Overview of iWallet

iWallet is an electronic payment service company based in the UK and Hong Kong. Developed mainly in Europe, it is now an electronic payment service used all over the world.

Such iWallet can be used in Australian and is widely used for shopping overseas.

When it comes to electronic payment services, many people are probably concerned about safety. However, iWallet employs industry-standard SSL encryption technology and a state-of-the-art firewall system to prevent unauthorized access and data theft.

Therefore, there is no need to worry about information being leaked to a third party and being misused. In addition, iWallet itself is operated under the license MSO (Money Service Operators License) issued by the Hong Kong government, so it can be said that it is a highly reliable company.

iWallet supports the following currencies in addition to Australian yen. When using an online casino, you can immediately exchange your Australian yen into foreign currency and deposit it.

USD (US Dollar) / EUR (Euro) / GBP (British Pound) / SGD (Singapore Dollar) / HKD (Hong Kong Dollar) / CNY (Chinese Yuan) / IDR (Indonesian Rupiah) / PHP (Philippine Peso) / MYR (Malaysia) Ringgit) / THB (Thai Baht) / VND (Vietnamese Dong)

iWallet fees

iWallet sets the fees as follows.

Card Deposit Retrieval/Chargeback Fees
US$50.00

International Bank Transfer (Deposit)
free

Individual ➝ Individual (billed to recipient)
0.5% of remittance amount

Corporate→Individual Remittance
free

Individual → corporate remittance
free

International bank transfer (withdrawals)
0.50% (minimum US$35)

Charge to iWallet Card
1.75% (minimum $5.00)

Account maintenance monthly fee
free

Dormant account management fee
(20 USD will be charged if the account is not used for 180 days from the last transaction history.)
US$20.00

Bank Transfer Cancellation Fee
US$50.00

Account closing fee
US$5.00

foreign currency exchange
Wallet specified rate

Transfer limit between iWallets
Without limit

Other Bank Remittance Limit
US$50,000.00/case

Benefits of iWallet Deposits and Withdrawals

Here are some of the benefits of iWallet deposits and withdrawals.

○ You can see the flow of funds at a glance

With iWallet, you can easily keep track of your money flow, including when and how much you have deposited or withdrawn.

Many people who play online casinos are registered with not one but several operators. Therefore, you may not be able to keep track of how much you have used. However, with iWallet, you can check the flow of funds at a glance, so you can easily manage your funds.

○ Compatible with many online casinos

iWallet is one of the most popular electronic payment services. Therefore, it can be used in many online casinos.

The following online casinos accept iWallet:

Compared to other electronic payment services, it is characterized by a large number of affiliated online casinos.

-Empire 777
-Cherry Casino
- Inter Casino
- Paiza Casino
-Wunderino
- NetBet Casino
- Lucky Nicky
-Casino Secret
- Vera & John Casino etc.

○ Easy to deposit and withdraw

As the number of Australian users has increased in recent years, iWallet has enhanced its services for Australian customers.

In addition to being able to deposit money into iWallet with a credit card, it is now possible to make a transfer from a bank in Australia. You can also transfer funds directly to your domestic bank account when withdrawing funds.

○ Full Australian support

iWallet is a service provided by an overseas company, but it is fully compatible with Australian. All sites are available in Australian, and you can also contact customer support in Australian.

Therefore, even if you have questions or troubles, you can get support in Australian.

Disadvantages of depositing and withdrawing from iWallet

Here are some of the disadvantages of iWallet deposits and withdrawals.

▲It is necessary to use it regularly

To keep iWallet free, you need to use it regularly.
First of all, if there is no transaction record for more than 90 days after opening an iWallet account, it will be considered a "dormant account" and the account will be frozen.

Second, if there is no transaction activity in your iWallet account for 180 days after the last transaction date, an iWallet Inactive Account Management Fee of $20 will be levied. If you do not use your iWallet for a long time like this, your account may be frozen and you may be charged a fee.

So, once you open an iWallet account, you should use it regularly. If you do not plan to use it at all, it is better to close the account early.

▲ Fees are high

Like iWallet, ecoPayz is another electronic payment service used around the world. iWallet's fees are high compared to its competitor, ecoPayz.

In the case of iWallet, there are various fees other than deposits and withdrawals, such as monthly card maintenance fees and account maintenance fees when the account is not used for a certain period of time. Therefore, you need to know exactly what the fees are.

How to register iWallet

Here, we will introduce how to register iWallet. There are two types of iWallet, Standard Membership and Executive Membership, so let's understand the difference in how to register for each.

step 1. Access to iWallet official website

First, access the iWallet official website and select "Open a new account" from the icon in the upper right.

Step 2. Registration of email address and personal information

When you select "Open a new account", the email address entry screen will be displayed, so enter the email address you want to use with iWallet and click "Next".
Then, a registration form will be displayed, so enter the following information.

-Full name
-Date of birth
-password
-Country

Then check "I agree to the terms of use and privacy policy" and click "Open an account".

Step 3. Account verification

After submitting the registration form, a confirmation email will be sent to your registered email address.
If you click the URL in the body of the email, account authentication will be completed and all the procedures will be completed.

You will need your registered email address and password to log in to iWallet. All members are “standard members” when they first open an account.

How to upgrade your iWallet account

If you are a standard member when you open an account with iWallet, the only function you can use is to transfer money between iWallet accounts. In addition, there are various restrictions for standard members, such as the transaction amount is up to $ 1,000 and you cannot deposit with a credit card or create a prepaid card.

Therefore, in order to make deposits and withdrawals outside of iWallet, such as depositing to online casinos, it is necessary to submit identification documents and upgrade to an executive member.

Here's how to upgrade your iWallet account.

Step 1. Addition of user basic information settings
To upgrade your iWallet account, first log in to My Page and click "Basic User Information Settings". Then, the information registered when opening the account will be displayed, so let's click "Change / Correct".

Here you can register the address, phone number, etc. that you did not enter when you opened your account. After entering all the information, click "Go to Confirmation Screen".

Step 2. KYC document verification

After updating the basic user information, click “Verify KYC documents”. KYC documents refer to identity verification documents and address registration documents.

Documents that are accepted as KYC documents are:

〇 Identity verification documents
-passport
-Driver's license
- Basic Resident Registration Card (with face photo)

Identity verification documents must be issued by a government or public institution, and must clearly state your name, face photo, date of birth, expiration date, and the name of the issuing agency.
Also, be sure to submit one that has three months or more until the expiration date.

〇 Certificate of address registration
-Electricity, gas, water, telephone, financial statements
-Certificate of Residence
-Driver's license
-Health insurance card
-Union Membership Card/Disabled Beneficiary Card/Welfare Beneficiary Card
-Resident Registration Card/Driver's License (unacceptable if used as identification document)

Please submit documents that are valid for more than 3 months before the expiration date or within 3 months from the date of issuance.

Upload these documents. You can upload up to 3 identification documents and 3 address registration documents each.

Documents must be no larger than 5MB and must be jpg, jpeg, pdf, png, or gif files.

Step 3. examination

Once you have uploaded your KYC documents, the review will begin. The review usually takes 1-2 days, and if you can pass it, you will be upgraded to Executive Membership.

iWallet recommends uploading two forms of identification: a passport and a driver's license. In this case, it is said that the examination will proceed relatively smoothly.