iDEAL is a real-time, instant banking portal that was developed almost wholly by the Dutch payment processing company, GlobalCollect. Successfully field-tested in September 2005, iDEAL is today a payment-processing giant and a favourite especially among European online casino users who use it for withdrawal and for deposit related transactions. The phenomenon of online bank transfers has only caught on in recent years. Instant banking offers a whole host of advantages and security features that credit and debit cards cannot beat and it is for this reason that services like iDEAL have become increasingly popular in the last few years.
The primary advantage of iDEAL for Casino.com players is that it is easily one of the fastest payment method around. Credit, debit and, in worse case scenarios, cheque or money order payments take a considerable amount of time to verify and authenticate. Instant banking transactions, however, are almost instantly verified and the merchant can thus work on delivering the purchased products or services sooner. The charges for iDEAL transactions are substantially cheaper than credit cards with the processing fee running between 1% to 2.5% of the total bill. All transactions, in addition to the slew of security features already present, have to be authorized by a PIN number provided by the partner bank.