What is Netbanking?
Netbanking is simply carrying out financial transactions from your bank account using your phone, tablet or desktop computer. In the case of online gambling, it’s the deposit and withdrawal of funds from your bank account to your online casino account. Netbanking usually doesn’t involve any fees or taxes.
Netbanking is quick, easy and free which makes it the outstanding candidate for online casino players to choose when they want to deposit funds. As long as you have an Indian bank account you are ready to go!
What is UPI?
Unified Payments Interface, or UPI as it’s more commonly known, is an instant real-time payment system created by the National Payments Corporation of India. The point of it is to aid with transactions between banks. There is a single interface which is regulated by the Reserve Bank of India therefore there are no issues with trust.
It works by instantly transferring funds between two bank accounts on a mobile platform. In this case, the bank accounts of the customer and the online casino.
Why is UPI the Best Payment Method?
- Instant – Once you authorise a transfer/payment it will be completed instantly. You don’t need to wait for anyone else to complete the payment on your behalf. The service is 24/7 and completely instant unlike some other deposit methods.
- Cheap – the cost to make a transfer is as little as 50 paise which isn’t even worth worrying about. It may as well be free.
- Universal – the fact that there are so many banks signed up to the UPI network it means it’s highly unlikely you will ever need another payment method. Don’t think of this as just a tool to facilitate your gambling transfers. It’s best to use for all of your financial needs.
- Stress-Free – Payments through UPI don’t require card or bank account details, therefore it’s not a stressful process at all. You only need to remember your virtual payment address, which takes a form like this: aadesh99@icicibank.
How to Deposit to your Casino account with Netbanking
- Register or login to your online casino account.
- Head to the deposit funds section of the site and select Netbanking as your deposit option.
- Select the amount you wish to deposit.
- A page will then be displayed showing 61 domestic Indian banks – select your bank.
- Once selected, you will login to your bank using the usual method.
- When you are logged in, the chosen deposit amount and the destination of the funds (online casino) will be populated already. Click submit.
- You will then receive an OTP via SMS.
- Enter the OTP validation into your netbanking page.
- Go back to the online casino deposit page to be greeted by a successful deposit message!
How to withdraw money from your online casino account using Netbanking
- Login to your online casino account and choose Netbanking as a withdrawal option.
- Enter the amount you wish to withdraw.
- The request will then be approved by the online casino and then the funds will reach your account within 24-48 hours.
There’s not much to say here, apart from, UPI is a must-have banking method for gambling transactions. Nearly all of the big online casino sites offer their Indian customers netbanking and UPI. For this reason we can’t envisage why you would need another method, unless of course you want to take advantage of some of the bonuses that Skrill might offer you.
If you want a universally accepted, trustworthy, secure and cheap method to transfer your funds from your bank to an online casino account then this is the method that Lucky Dice would suggest for you!
Frequently Asked Questions
How long will it take for any winnings to reach my bank account using Netbanking and UPI?
Once you have confirmed the withdrawal it will take between 24-48 hours to reach your bank account.
How much money can I deposit using this method?
You can deposit a minimum of 500 INR and a maximum of 50,000 INR in a single transaction using Netbanking and UPI.
How much money can I withdraw with UPI?