The choice of a new online casino is often determined by the ease of depositing money and withdrawing winnings. Usually, players want to use a method that is as local as possible. This gives them the confidence that they can have any arising issues solved promptly. Multibanco is one payment method that has grown immensely in popularity because of this factor.
Multibanco is a consortium of 27 Portuguese banks and was established in 1985. It allows members of any participating bank to use ATMs belonging to any other bank to perform transactions in the same way they would with their own bank. The group, owned by Sociedade Interbancária de Serviços S.A., also offers online and mobile payments to its members.
This interlinked model enables users in Portugal to access ATM services from over 12,000 machines. About 23.7 million Multibanco cards are circulating, and members can also withdraw from ATMs using their mobile phones. Members can also move money from one bank to another within the network digitally.
This ease of operation makes Multibanco cards popular with players at new casinos online in the country. If one has a card with bank A, they are able to deposit easily even if their money is held in bank B. It is also possible to maintain a betting bank account with little funds for security reasons.