Boleto Bancario is an online payment method that acts like a pro-forma invoice which uses online-created slips or vouchers to make payments. These vouchers can be used online or in some physical locations in Brazil. They also offer an online payment method directly through the user’s bank account. The method is very similar to a wire transfer or using cash. Users can even fund their account by directly paying cash at their local bank, which is unusual for many online payment systems. Any bank in Brazil will accept cash to make Boleto Bancario payments, and some non-bank merchants will also provide the same service.
Users must have a Brazilians bank account and tax number to use this service. The vouchers can be used for several online merchants and as many as 20 online casinos accept this payment method, both inside and outside of Brazil. Boleto Bancario is an Ebanx service that allows international merchants to accept the Boleto Bancario payment method. Ebanx has been in the online payment industry since 2000. The international service can take 1 to 3 business days. This is also the process used for wire transfers for online casinos that are not based in Brazil.
As a benefit to merchants, the Boleto Bancario system will verify the payment before the merchant acquires any risk, so there is no threat of a customer failing to make or confirm a payment.
How to deposit with Boleto Bancario?
Check to be sure that the desired online casino will accept payment from Boleto Bancario. Do this by going to the casino’s cashier page and browsing through the payment options listed. Click the Boleto Bacncario payment option and choose the desired deposit amount. Boleto Bancario will create a payment slip. Users can either take this slip to a participating bank or merchant and pay with cash or use the information on the slip to make an online wire transfer directly from their bank. Boleto Bancario will ask for the user’s tax number when creating the payment voucher.
Because of the nature of this system, payments are not instant. They may take several days depending on the bank and the online casino. Using the online payment option is generally faster, but this is not always the case. This is partly because once the funds reach the casino’s account, the casino must manually credit the funds to the account. The casino should know how long this process takes, so it might be helpful to ask about the process before depositing funds.
Boleto Bancario will charge a fee for each transaction. The fees are typically between 6% and 8% of the transaction amount. For small players, these transaction fees may add up quickly, which would be a deterrent from using this type of payment system.
Boleto Bancario Advantages
This payment method is extremely secure, especially if the users take advantage of the option to pay in cash. If the gamer or gambler uses cash, then their bank account information, debit or credit card information, or checking account information is shared with neither Boleto Bancario nor the online game or casino. There is virtually no risk of theft or fraud using this method. There is an option to do a wire transfer using the Boleto Bancario’s provided information, but even this service does not share bank account information with Boleto Bancario or the online casino. Instead, the user’s bank sends the funds. This is also one of the few services that allow users to pay with cash. Most payment methods require a bank account, or debit or credit card. This is a significant advantage to those users to do not want to use their bank account or card, or who do not have access to these payment methods. It also allows users to keep their gambling funds and their bank account funds separate if they would prefer to do that.
Boleto Bancario Disadvantages
This service is only available to Brazilian residents; users must have a Brazilian tax number to use this service. This payment method is not instant. It may take several days for the online casino and the bank to process a deposit. In addition, this payment method does not offer any withdrawal options.
Click to visit Boleto official website