Giropay is a popular German payment method that has been operating since 2005. The service is primarily intended for making payments for e-commerce products and services. However, considering its quick response time and safety, many sports betting sites have incorporated it as a payment method for making payments online.
In this article, we take a look at how Giropay works and, more importantly, what bookies accept Giropay.
What is Giropay?
Giropay was launched in 2005 by Deutsche Postbank as a convenient and quick payment method. Within a short time, Giropay has become a very popular payment method in Germany, with more than 70% of the commercial banks accepting the service, while its user base has exceeded 45 million.
Giropay merged with Paydirekt and Kwitt in May 2021, allowing users of Paydirekt and Giropay to still use the mobile application for Paydirekt. Giropay is widely available at betting sites across Germany and is affiliated with many local banks.
How does Giropay work?
If you want to use Giropay for conducting transactions online, you can do so with an affiliated bank. Doing so will allow you to make online transactions via Giropay with any participating merchant. All you need to do is select Giropay as a payment method and authorise the transaction via the respective bank.
To conduct a deposit transaction via Giropay at a sports betting site, you must first go to your selected sports betting site and go to the account section for making deposits. While on some sites, the payment area is labelled cashier, you may find it under the deposits or payments menu in others. Select Giropay as the payment method from the list and enter the amount you wish to deposit. You will then need to provide the required details and verify that the information is correct.
Now click deposit or confirm to process the transaction. You will be directed to the Giropay website, where you must select the bank from the displayed list, which will take you to the respective bank’s site.
Now log into your online banking portal and enter your Transaction Authorisation Number or PIN to process the deposit into your sports betting account. Once the transaction is confirmed, the amount will reflect in your wagering account immediately.
One major drawback of using Giropay is that most sites do not process withdrawals via Giropay, and you have to withdraw via the standard bank wire method. Only a few platforms allow withdrawals via Giropay, but you need to make deposits via Giropay as well in that case.
Your bookie will send the fund directly to your account when you request the withdrawal. However, unlike deposits where the amount is transferred instantly, it takes two to five days when you request a withdrawal.
There is no processing fee for using Giropay as a deposit method, so the service is free to use. However, the bank may charge a processing fee, and the charges may vary from one bank to the next. Another limitation of using Giropay, besides withdrawal restrictions, is that it is only available to punters in Germany. Nevertheless, it is an efficient and safe payment system and hence a preferred method for punters wanting to immediately transfer money into their betting account.
What bookies accept Giropay?
If you want to know which bookies accept Giropay, here is your chance to find out.
Ivibet
Ivibet is a newly established platform by TechOptions Group. The platform features around forty different kinds of sports for betting. Ivibet offers newcomers a welcome bonus of 100% up to $150.
Bet365
Bet365 is a global betting brand available in many countries. The platform offers up to $60 in bet credits, among many different kinds of bonuses and discounts, to its new and existing customers.
Bet At Home
Bet At Home offers a welcome bonus of up to 400% to new sports bettors. You can use Giropay to deposit money into your betting account for placing wagers.
Mobilebet
Mobilebet is a German sports betting site that offers new users a welcome bonus of up to 400%. The site offers pre-match and live betting both.
22Bet
22Bet is an online sports betting site and casino that operates in numerous countries in Asia and Europe. The site offers a 100% welcome bonus on the first deposit. Germany-based punters can use Giropay to deposit money into their betting account.
Betway
Betway is a well-known name in the global sports betting industry. New members are offered a welcome bonus of up to €30.
