Indian gamblers can now rejoice for being provided with a fast and secure way to fund their online betting accounts. Netbanking India is a new payment method to make deposits and withdrawals between your bank account and your favorite betting platform.
This guide will give you all the details you need to know about Netbanking. That way, you can start your online betting adventures on the right foot.
Netbanking Betting Sites
Since Netbanking is getting more popular as days go by, many bookmakers and casinos are starting to support this method of payment. If you want to know which bookies have Netbanking payment method as their online banking of choice, take a look below at our pick of favorite operators:
What is Netbanking?
It is one of the most reliable online payment methods in India offered by a plethora of financial institutions and banks across the country. Being one of the fastest and most widely used mobile payment methods already, it is difficult to look away from this online banking option. To access the Netbanking service, you will need to sign up with your bank and create a customer ID and password.
Why Use Netbanking?
Like other online payment methods in India, Netbanking gives you the chance to fund your online betting account even if it is very late at night. From the comfort of your home, you simply use Netbanking India to send money from your bank or make withdrawals from your online betting account.
No need to endure endless queues at a bank to make deposits in your betting account. You may also fund your account from practically any location using your mobile phone. This ease of use and convenience are huge benefits to gamblers who need to enjoy their gambling endeavors without time restraints or other limitations.
On top of all that, using Netbanking enables you to pull the records of your transactions. This is particularly convenient in case a deposit you have made has not yet been reflected in your betting account. Then, you can contact Customer Support and have this issue resolved.
How to Use Netbanking?
If you haven’t had the chance to find out how to deposit money through net banking but you wish to fund your online betting account using that method of payment, there are a couple of things you should do:
- Ensure that your respective bank supports online banking.
- Link your bank account with online banking.
- Go to the online bookmaker’s site and select Netbanking from the available payment options.
- Follow the deposit procedure as provided by your preferred bookie.
Note: Details like the deposit limit (the minimum sum you can deposit) should not be overlooked. Sometimes, you won’t be able to claim a bonus if you have not made a qualifying deposit. Check the bookmaker’s terms and conditions to ensure you get it all right.
How to Request Withdrawals with Netbanking
Cashing out your winnings from your betting account is easy with Netbanking. The process is easy and simple. All you need to do is:
- Head to your bookmaker’s payment section (aka Cashier).
- Select “Withdraw” via bank transfer (or similar option).
- Fill out the form that will pop up with the relevant details needed.
- Enter the sum you wish to withdraw.
- Select Netbanking.
Now, you need to wait for your money to reach its final destination – your bank account. Note that it may take a while for the transaction to be processed (24 hours or so). Again, look for any withdrawal limits. You may not be able to cash out large amounts in one go. Some operators enable monthly withdrawals of larger sums.
Another point of consideration is the processing charges. Most banks, online casinos, and bookies do not charge any transaction fees. However, it is best to be safe than sorry! So, check these out as well.
The same deposit and withdrawal procedures apply to online casinos. You will find a Cashier page on all major online casino sites.
Is Using Netbanking to Fund a Betting Account legal?
Indeed, it is. There is no Indian law that forbids Indian players to move funds from and to an online betting or online casino account. You may not be allowed to withdraw or deposit bulk sums to companies headquartered outside India, though.
However, this does not include funding your betting account with Netbanking – you are not transferring funds abroad rather than sending money to your gambling account via online banking.
All in all, Netbanking is a secure and convenient online payment method in India. It also serves as one of the most preferred mobile payment methods in the country. This makes the lives of mobile gamblers a tad easier when it comes to funding their online betting accounts. With fast deposits and withdrawals, you now have everything you need to start enjoying your betting or gambling adventures.
NetBanking or internet banking is a relatively safe method of payment. A user of NetBanking can make it safer with a few adequate safety measures, such as by:
Many betting sites such as Betway, Parimatch, 10CRIC, and bet365 include NetBanking as an approved payment method,
Banks charge fees for NetBanking transactions made by using IMPS, NEFT, or RTGS payment systems, with the quantum of fees in keeping with RBI guidelines.