Netbanking Review

What is NetBanking? 

Since the inception of NetBanking, people all across India have been managing banking conveniently from home. This fantastic facility allows people to do almost everything they would do in a land-based bank, but from the comfort of their own home via mobile or desktop, making money management, payments, and purchases a lot more convenient and easy.

Almost every bank in India has a net banking system where people can make direct payments, take out loans, pay bills, invest in stocks, and utilize dozens of different financial services. It’s safe to say that this is the most popular payment method among Indian people, even more so than credit cards and electronic wallets.

What makes this option so attractive is that you don’t have to do anything to get started besides having a bank account open, which most adults already have. While being used in day-to-day life, NetBanking is also favored by many punters who use it to transfer funds to and from their casino accounts. In this review, we examine whether or not you should consider using this payment option as a means to make gambling transactions.

Our focus will be on showing you the pros and cons of this service and how you can set up your net banking account if you don’t have one already. Let’s see how you can benefit from using this payment method.

How NetBanking Works?

NetBanking is, simply put, an Internet or online banking service that can for the most part eliminate the need to go to a bank to manage finances and transactions. Any person with a bank account and internet access can use this service - you can use NetBanking via a mobile app or desktop. When it comes to online casinos, it works in a very similar fashion to other banking methods. Once you set up your net banking account, you can deposit or withdraw money from your online casino account. The trick is to find a gambling platform that accepts this payment method.

While it may be easy to find a casino that does accept net banking, it can be difficult in some cases to find the one that accepts the specific bank you have an account with. That’s where some of the issues with this sort of system come into play. 

Since most people already have a bank account, they are less likely to open a brand new one just so they can use it for casino transfers. If you’re looking to use this payment method, we highly recommend that you open up an account with one of the banks that are more frequently featured in casinos.

These are usually HDFC Bank, ICIC Bank, Punjab National Bank, Bank of Baroda, IndusInd Bank, State Bank of India, and Bank of India. While it doesn’t necessarily mean that you won’t be able to find casinos that accept other net banking options, these are the most prevalent ones as of right now, but this may be subject to change in the future, so you should always do your homework and research before opting for NetBanking. 

How to Get Started with NetBanking?

Getting started with net banking isn’t the quickest process compared to other payment methods. If you don’t have a bank account, the first step is opening one. To do that, you will need to go to a bank of your choice. We recommend that you choose one of the aforementioned options, as chances are those are the banks that will be present in casinos.

Once you get there, you will need to speak with a bank clerk and ask to open an account with them. They will be happy to help you, and you will need to fill out plenty of forms for starters. Also, don’t forget to bring some personal documents with you, such as an ID card, passport, or a driver's license. Without some form of identification, the bank won’t be able to open your account.

After your account has been created, you will need to request a customer username and password for your net banking account. Only then can you download the net banking app from your specific bank, and log in with those credentials. We suggest that you change the password to something you can remember after logging in.

Now that you have your net banking account set up, you can freely manage all of your funds with online casinos that accept the payment method. Depending on the bank of your choosing, this may take just a couple of minutes or a few days. It’s worth mentioning that you will also be provided with a debit card when creating a bank account.

Let’s see these steps neatly summarized:

• Choose a bank with NetBanking and visit a branch to open a bank account;
• Visit your bank’s official website and log in to your bank account using customer ID and password;
• Locate and open NetBanking registration page;
• Enter your customer ID and mobile number to create an OTP (a one-time password/ secure PIN code that will be sent to your mobile device to authenticate you as a user)
• Enter the OTP
• Enter your debit card details;
• Set an IPIN;
• Login to NetBanking using your customer ID and new IPIN
• Explore the service and customize features.

NetBanking For Deposits and Withdrawals in Online Casinos

Depositing and withdrawing money in online casinos is very simple once you have registered for NetBanking. The process for depositing is easy. Make sure to navigate to the payments page of the casino, choose the deposit, and select net banking as your method of payment.

Once you have done that, you can connect your net banking account and complete the transaction by verifying it with your smartphone app. Withdrawing is done following the same principle, but instead of choosing the deposit option, make sure that you’ve selected “withdraw”.

From there you can just connect your net banking account and you can freely withdraw money from your casino balance. When it comes to depositing times, you can usually fund your casino account instantly with all the banks, but the story is a little different with withdrawing. Withdrawal times are specific to the bank you are using, and the online casino itself. This is something you will have to look into on your own as everyone is going to have a different outcome depending on their bank.  

The same thing can be said for withdrawal limits. Make sure that you look into your specific bank what is the maximum amount of money you can receive. Also, consult with the terms and conditions of the casino you are playing at. 

How to Deposit with NetBanking at an Online Casino?

• Log in to your online casino account;
• Open the Deposit/Cashier section;
• Select NetBanking from the list of available options;
• Choose your bank and enter the deposit amount;
• You’ll be redirected to your NetBanking account - follow the steps to log in and complete the transaction
• Wait for the deposited funds to appear in your casino account (NetBanking deposits are usually very quick);
• Play!

How to Withdraw with NetBanking from an Online Casino?

• Log in to your online casino account;
• Navigate to the Cashier/Withdrawals section;
• Select NetBanking from the list of available options;
• Enter the withdrawal amount;
• Choose your bank and follow the steps to log in to your NetBanking account;
• Complete the withdrawal transaction;
• Wait for the funds to reflect in your bank account.

NetBanking Applicable Fees

When it comes to the kind of fees charged on your casino withdrawals and deposits, that is also specific to the bank you will be using. In most cases, you won’t be charged any deposit fees. Additionally, several banks won’t charge you withdrawal fees either. This is a very cost-efficient service and is designed to make everyday money management a breeze for Indian users. 

This all changes when you look into the terms and conditions of the online casino you will be playing at. Some Indian casino brands tend to charge withdrawal fees for those who use netbanking, and that is not exclusive to this banking method. That’s why we always recommend that you carefully read through the payment policies so you can decide where you should deposit and withdraw money.

NetBanking Advantages and Disadvantages

Advantages

• Most people already have bank accounts opened up
• All Indian banks have their net banking systems
• Cost-effective: low or no transaction fees
• Extremely convenient and easy to use
• Secure and protected
• Easy money management

Disadvantages

• Some banks may not facilitate transactions to and from online casinos
• Withdrawal limits may be low with some banks