iDeal

iDEAL is a banking method developed by several banks in the Netherlands, including ABN AMRO, Van Lanschot, and Knab. Launched in 2005, iDEAL facilitates the transfer of funds from bank accounts to merchants. Unlike other deposit methods, it does not store customer funds, but rather processes payments directly.

More and more casino sites are accepting iDEAL for deposits. As a secure and user-friendly payment option, it can make your crypto purchases effortless. If you have an account with one of the supported banks, signing up with the payment processor is easy. Additionally, you will need to sign up with one of the crypto sites that support iDEAL deposits.

Summary

This payment method is widely used in the Netherlands, even surpassing credit and debit cards such as VISA and Mastercard. Any crypto exchange targeting customers in the country must integrate this payment option to effectively enter the Dutch market. Without it, it will be difficult to gain a foothold. Below, you’ll find some of the best crypto sites that accept iDEAL, along with the pros and cons of using this payment method.

What is iDEAL?

This online banking processor works with various banks in the Netherlands, transferring funds directly from customers to merchants. iDEAL provides high security since it doesn’t require linking credit cards. Users simply open bank accounts with approved financial institutions and create accounts on the payment website. This payment method allows for fast transfers at low costs.

What About Costs with iDEAL?

One of the major advantages of iDEAL is that it doesn’t charge any fees for transfers. However, crypto exchanges may still impose a fee for deposits, usually not exceeding 0.2%.

How is iDEAL’s Transaction Speed?

Transactions using iDEAL are processed instantly. After initiating the transfer, the transaction number will appear on your bank statement, which is essential in case of disputes regarding the deposit. Keep in mind that any payment delays are handled by your bank, not the payment processor.

iDEAL Deposits: How to Do It?

1. Log into your account on a crypto exchange.
2. Navigate to the buying section of the website or app.
3. Select the peer-to-peer (P2P) trading option to use this payment method.
4. Choose the currency and the amount to transfer.
5. Confirm the payment and complete any verification steps required.

Which Are the Main Countries Where iDEAL Is Used?

This banking method is designed for use by customers in the Netherlands. While it is not banned in other countries, it has not been adopted internationally, and iDEAL has not partnered with foreign banks to facilitate payments.

Can You Withdraw with iDEAL?

Many crypto exchanges allow customers from the Netherlands to make withdrawals using iDEAL. However, you may incur a small fee for the transaction, usually around 30 Eurocents. Be sure to check the crypto exchange’s terms to determine how this fee is paid.

Reputation of iDEAL

iDEAL is a popular payment method, processing around 54% of all online transactions in the Netherlands. It is valued for making online payments simple, secure, and fast. It is widely accepted on both domestic and international websites. The primary issue with iDEAL is its limited availability outside the Netherlands. If you cannot use this payment method on a crypto exchange, you may want to consider alternatives like PayPal, Apple Pay, or Skrill.

FAQ

Below are some frequently asked questions about iDEAL:

• Is it safe to use iDEAL for cryptocurrencies? Yes, iDEAL is secure as it does not involve using credit or debit cards. Instead, transfers are made directly from your bank account.
• How do I set up iDEAL? Open a bank account with an institution supported by iDEAL, then add your details on the payment website and link your bank account.
• Is this payment method instant? Yes, iDEAL offers instant payments, though rare glitches at the bank may cause delays, which are generally resolved quickly.
• When was iDEAL founded? iDEAL was created in 2005 and is one of the oldest forms of online banking in the Netherlands.
• Where is the parent company based? iDEAL is based in the Netherlands and was developed to work with banks in the country.