E-wallets, what are they?

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If you are playing online, you might have seen discussion and products about e-wallet. What are they? How do they work? Can i use them at chanz.com ? Lets find out!

 

Basics

E-wallet is simply a electronic wallet, where you can transfer money to different businesses, to your bankaccount and sometimes even they have Visa or Mastercard card attached for purchases and withdrawals from atm. There is several operators in market, and we are looking closer two of them, Skrill and MuchBetter.

 

Skrill & Rapid Transfer

Skrill is one of the oldest ones in market, and it was formerly known as Moneybookers. You can use it to pay all kind of services, and it works here at chanz.com also. You can also have a physical Mastercard attached to the account, and you can pretty much use it as regular bankaccount after that.

Skrill offer instant transfer from your account to an another Skrill account. Likewise the transfers to merchant accounts, like Chanz are instant. If you need to withdraw money from your Skrill account, you can simply use the Mastercard provided or make a bank withdrawal directly to your account.

When you need to topup your Skrill account, you can do that with Trustly and other instant banking services, credit/bankcard or manual banktransfer. Remember to check the fees attached, they vary per method used.

Skrill also has another product called Rapid Transfer. With this option, you can deposit and make withdrawals directly to/from your bankaccount, without needing to deposit funds first to your Skrill account. This option is already supported by many banks in Europe, and is available for example in Norway for many of the banks there.

 

If you dont have a Skrill account yet, you can easily register one HERE.

 

MuchBetter

MuchBetter is a newcomer, that has increased its popularity this year. It works only with the app that you can download to Android or iOS.

Account creation takes minute or two, and if you want to verify your account for faster withdrawals and increased limits, that happens on the mobile also. When we tested, we were up and running in less than 20 minutes. And that included the full verification! 

Topups are done in seconds via e-transfers and bankcards. We tested a withdrawal to bank aswell, we initiated it at 10am in the morning, and it arrived around 5pm to our test account within Eu. Impressing.

When you want to make a deposit/withdrawal with MuchBetter, just select the option from cashier, follow the instructions and you will be amazed how quick the process was!

They also have a reward system, and you can read more about it from here. MuchBetter also comes with optional Mastercard if you need one.

 

If you dont already have a MuchBetter account, you can register one here!