iDeal is Dutch payment provider, modelled on online banking. The company was established in 2005, and allows customers to buy on the Internet using direct online transfers from their bank account. iDeal is owned by the Dutch organization Currence.
iDeal remains by far the most popular method for online payments in the Netherlands, significantly more popular than credit cards , and was used for 54% of all Dutch online payments in 2014. Since its introduction in 2005, more than 1 billion online payments have been made using iDeal.
This payment method can now be used to pay online in more than 100,000 online shops and other organizations. For several years, the company has consistently ranked among the top 10 strongest and most indispensable brands in the Netherlands.
How to Use iDeal
Anyone can use iDeal, so long as you have an account with one of the participating Dutch banks, namely ABN AMRO, ASN Bank, bunq, ING, Knab, Rabobank, RegioBank, SNS bank, Triodos Bank and Van Lanschot Bankiers. You can pay with iDeal as soon as you have access to online banking at one of these banks. You do not have to register separately.
Banking with the iDeal payment system requires a few effortless steps. When making a deposit, select iDeal as the payment method. Then select your bank. This opens the online banking application of your bank. The relevant details of your purchase will already be on display. Next, authorize the payment as usual, and y our bank will then confirm the payment. It’s as simple as that.
iDeal can only be used for online payments between a consumer and an online merchant , so you can’t use it to pay other people.
As a consumer, you do not have to pay bank charges when paying with iDeal. However, stores or casinos are free to charge for using it. This is permitted by law, providing that it is announced before the final payment. Also, it is important to mention that you can’t use iDeal to receive payments from online casinos.
Benefits and Limitations
The main benefit is that there are no service charges directly from iDeal to make payments. Deposits are processed in a matter of minutes, and the two-factor authentication ensures as high a level of security as possible.
On the other hand, the main disadvantage is that iDeal transactions could technically be regarded as cash payments between customers and suppliers, to which the bank is no party and offers no insurance. This means that iDeal payments cannot be reversed when, for example, a webshop fails to deliver.
Although many casinos accept iDeal as a viable payment option, this system is only available to online casino players who have a bank account with one of the above mentioned banks (so you do not have to be a citizen of the Netherlands). Some of the many casinos that accept iDeal payments include Royal Panda and Quasar Gaming. A complete list of casinos accepting iDeal payments is available on this page.